229 E 1st St · Mansfield, OH 44902

$74,900

3 bd · 1.0 ba · 1,347 sqft · SingleFamily public records · 51 Days on market

Built 1900 7,078 sqft lot $56/sqft · 27% above area Est $59k · 27% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +8.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Opportunity is knocking! Are you ready to answer? This property offers the perfect blend of functionality and upside potential for buyers looking to build equity fast. Step inside and you'll find a true blank canvas ideal for adding your personal style and value through simple updates. Features include a hard-to-find first-floor master suite with convenient laundry location & a second full bath upstairs adding flexibility for guests or additional occupants, making this layout both practical and appealing. Outside, enjoy ample private off-street parking, a rare find that adds immediate convenience and desirability for both homeowners and tenants alike. Major updates include a roof approximately 2 years old, helping reduce big-ticket concerns so you can focus on improvements that build equity. With the right vision and a little sweat equity, the upside here is undeniable. Priced to move! Schedule your showing today and position yourself for a fast close & immediate possession.

Key facts

• 7,078 sq ft lot
• Parking
• Built 1900

Tags

• FIRST-FLOOR MASTER SUITE
• PRIVATE OFF-STREET PARKING
• SECOND FULL BATH UPSTAIRS
• ROOF APPROXIMATELY 2 YEARS OLD

Property features AI

Exterior

• Parking: Driveway with gravel surface
• Utilities: Public water; Public sewer
• Home design: Two-story home; Property is attached
• Construction: Built per public records; Stone and vinyl siding exterior; Metal roof
• Exterior features: Chain-link fencing; Lot of about 0.16 acres

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One main-level bedroom; Additional bedrooms on the second floor (two bedrooms)
• Bathrooms: Two full bathrooms total; One full bathroom on the main level
• Heating & cooling: Forced-air heating; Gas heating
• Interior features: Partial basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 4.2% in Mansfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#224 in OH, #3,525 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D-, amenities D-.
• Mansfield City (urban): math 24% / reading 33% proficiency, ranked #590 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 145 units permitted in Richland County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($518 loan paydown + $6k appreciation (8.4% local appreciation)).
• Richland County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $75k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 11.90%
• Cash-on-cash: 20.01%
• DSCR: 1.89
• GRM: 6.0

CMA / ARV

• ARV (median comp): $58,895
• List price: $74,900
• Delta: 27.18%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
271 E 1st St	0.08mi	3/2.0	1,298 (-4%)	7mo	$96,000	$74	80
268 Superior St	0.12mi	3/1.0	1,498 (+11%)	1mo	$38,000	$25	75
183 E First St	0.08mi	3/1.0	1,176 (-13%)	3mo	$89,900	$76	73
209 Second	0.09mi	2/1.0 (-1)	1,212 (-10%)	5mo	$60,000	$50	70
223 E 2nd St	0.08mi	4/1.5 (+1)	1,483 (+10%)	9mo	$134,000	$90	65
195 Hedges St	0.24mi	4/1.5 (+1)	1,483 (+10%)	1mo	$141,500	$95	64
175 S Mulberry St	0.57mi	3/1.5	1,405 (+4%)	3mo	$100,000	$71	62
22 Small Ave	0.50mi	4/2.0 (+1)	1,394 (+4%)	3mo	$137,600	$99	60
130 E Arch St	0.24mi	4/1.0 (+1)	1,176 (-13%)	6mo	$72,500	$62	58
153 Hedges St	0.17mi	4/1.5 (+1)	1,483 (+10%)	12mo	$134,990	$91	58
319 Altamont Ave	0.52mi	2/1.0 (-1)	1,225 (-9%)	7mo	$65,000	$53	50
11 Hoffer Ave	0.70mi	3/1.5	1,528 (+13%)	9mo	$92,700	$61	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.5%
• Equity multiple: 3.64×
• Total profit: $55,298
• Equity at exit: $59,221

10-year hold

• IRR: 32.3%
• Equity multiple: 7.87×
• Total profit: $144,015
• Equity at exit: $119,834

Cash invested: $20,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 44902

• Home prices YoY: 2.9%
• Active inventory: 30
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,043 high
• Mortgage (P&I): −$393
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $350

Break-even live

Break-even rent $600

Max offer price $74,900

Occupancy floor 61%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Ford St Mansfield, OH	3.0	1.5	1286	$995	$0.77	43d	1	0.54mi
243 W 1st St Mansfield, OH	4.0	1.0	1470	$1,195	$0.81	43d	1	0.88mi
19 State St Mansfield, OH	3.0	1.0	1040	$995	$0.96	43d	1	0.92mi
275 Cliffbrook Dr Mansfield, OH	2.0	1.5	1200	$925	$0.77	43d	1	1.24mi
282 Cliffbrook Dr Mansfield, OH	3.0	1.0	912	$1,395	$1.53	43d	1	1.27mi
520 Lida St Mansfield, OH	3.0	1.0	1300	$850	$0.65	43d	1	1.34mi

Listing history 20 events

1. 2026-06-19
   days on market $74,900 Active 51 DOM
2. 2026-06-18
   days on market $74,900 Active 50 DOM
3. 2026-06-17
   days on market $74,900 Active 49 DOM
4. 2026-06-16
   days on market $74,900 Active 48 DOM
5. 2026-06-15
   days on market $74,900 Active 47 DOM
6. 2026-06-14
   days on market $74,900 Active 45 DOM
7. 2026-06-12
   days on market $74,900 Active 44 DOM
8. 2026-06-09
   days on market $74,900 Active 41 DOM
9. 2026-06-08
   days on market $74,900 Active 40 DOM
10. 2026-06-07
    days on market $74,900 Active 39 DOM
11. 2026-06-05
    days on market $74,900 Active 36 DOM
12. 2026-06-03
    days on market $74,900 Active 35 DOM
13. 2026-06-02
    days on market $74,900 Active 34 DOM
14. 2026-06-01
    days on market $74,900 Active 33 DOM
15. 2026-05-31
    days on market $74,900 Active 32 DOM
16. 2026-05-30
    days on market $74,900 Active 31 DOM
17. 2026-04-30
    listed $79,900 Active 1149-char remark

    Show marketing remark (1001 chars)

    Opportunity is knocking! Are you ready to answer? This property offers the perfect blend of functionality and upside potential for buyers looking to build equity fast. Step inside and you'll find a true blank canvas ideal for adding your personal style and value through simple updates. Features include a hard-to-find first-floor master suite with convenient laundry location & a second full bath upstairs adding flexibility for guests or additional occupants, making this layout both practical and appealing. Outside, enjoy ample private off-street parking, a rare find that adds immediate convenience and desirability for both homeowners and tenants alike. Major updates include a roof approximately 2 years old, helping reduce big-ticket concerns so you can focus on improvements that build equity. With the right vision and a little sweat equity, the upside here is undeniable. Priced to move! Schedule your showing today and position yourself for a fast close & immediate possession.

18. 2026-04-30
    listed $79,900 Active 1001-char remark

    Show marketing remark (1001 chars)

    Opportunity is knocking! Are you ready to answer? This property offers the perfect blend of functionality and upside potential for buyers looking to build equity fast. Step inside and you'll find a true blank canvas ideal for adding your personal style and value through simple updates. Features include a hard-to-find first-floor master suite with convenient laundry location & a second full bath upstairs adding flexibility for guests or additional occupants, making this layout both practical and appealing. Outside, enjoy ample private off-street parking, a rare find that adds immediate convenience and desirability for both homeowners and tenants alike. Major updates include a roof approximately 2 years old, helping reduce big-ticket concerns so you can focus on improvements that build equity. With the right vision and a little sweat equity, the upside here is undeniable. Priced to move! Schedule your showing today and position yourself for a fast close & immediate possession.

19. 2026-04-30
    listed $79,900 Active

    Show marketing remark (1001 chars)

    Opportunity is knocking! Are you ready to answer? This property offers the perfect blend of functionality and upside potential for buyers looking to build equity fast. Step inside and you'll find a true blank canvas ideal for adding your personal style and value through simple updates. Features include a hard-to-find first-floor master suite with convenient laundry location & a second full bath upstairs adding flexibility for guests or additional occupants, making this layout both practical and appealing. Outside, enjoy ample private off-street parking, a rare find that adds immediate convenience and desirability for both homeowners and tenants alike. Major updates include a roof approximately 2 years old, helping reduce big-ticket concerns so you can focus on improvements that build equity. With the right vision and a little sweat equity, the upside here is undeniable. Priced to move! Schedule your showing today and position yourself for a fast close & immediate possession.

20. 1997-12-15
    soldstatus $33,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $598 · $50/mo
• Projected year-2 tax: $883 · $74/mo
• Expected delta: +$285/yr (+$24/mo · 47.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,510
• − Mortgage interest: −$4,196
• − Property taxes: −$598
• − Insurance: −$374
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$2,179
• Taxable income: $3,162
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $3,438/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mansfield City
• NCES district ID: 3904429
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $32,435
• Composite: 23.25/100
• National rank: #7934
• State rank: #590 of 656 in OH

Livability — Mansfield

• Score: 76/100
• State rank: #224
• US rank: #3525

Category grades

Amenities D- Commute A+ Cost of living A+ Crime D- Employment F Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mansfield, OH
• County: Richland · 128,966 people
• City population: 16,349
• Metro: Mansfield, OH
• Population (ZIP): 4,876
• Household income: $31,619
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 13.2

Population outlook (Richland County) Hauer SSP2

• Today (2025): 115,577 people
• By 2030: 111,669 · -3.4%
• By 2040: 103,323 · -10.6%
• By 2050: 95,135 · -17.7%
• By 2075: 76,719 · -33.6%
• By 2100: 57,188 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Italian 2% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+42.3) · D 28.4% · R 70.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.6pp · 2024: -42.3pp
• All cycles: 2024: R+42.3 2020: R+39.7 2016: R+37.5 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.45%
• Current HPI: 302.035
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+127.0% since first listed

7 events — show timeline

• 2026-05-29 Price Changed $74,900 MARMLS
• 2026-05-29 Price Changed $74,900 ABOR
• 2026-05-29 Price Changed $74,900 MLSNOW
• 2026-04-30 Listed $79,900 MLSNOW
• 2026-04-30 Listed $79,900 ABOR
• 2026-04-30 Listed $79,900 MARMLS
• 1997-12-15 Sold (Public Records) $33,000 Public Records

Property tax history

+16.1%/yr

Latest (2025): $598 · +0.0% YoY. Source: county tax records.