26004 Millwood Rd · Howard, OH 43028

$49,500

3 bd · 1.0 ba · 1,626 sqft · SingleFamily public records · 90 Days on market

Built 1940 9,583 sqft lot $30/sqft · 76% below area ↓ 17% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity in Howard! Situated on a spacious half-acre lot with no HOA, this property is a blank canvas for your next major project. While the interior and a portion of the roof require a total overhaul due to fire damage, the foundation remains in good shape. A massive head start is included with several salvageable high-value components: the hot water tank and furnace are only 3 years old, and the HVAC system is in working order. Sold as-is with no appliances.

Key facts

• Hot water tank
• Half-acre lot
• No hoa

Tags

• HALF-ACRE LOT
• NO HOA
• FOUNDATION IN GOOD SHAPE
• HOT WATER TANK
• FURNACE ONLY 3 YEARS OLD
• HVAC SYSTEM IN WORKING ORDER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#771 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A; Watch: crime D, employment D, amenities F.
• East Knox Local (rural): math 55% / reading 62% proficiency, ranked #302 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 116 active listings in the ZIP; solid renter incomes; 195 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $342 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 3.19% ✓
• Cap rate: 26.66%
• Cash-on-cash: 72.73%
• DSCR: 4.24
• GRM: 2.6

CMA / ARV

• ARV (median comp): $207,314
• List price: $49,500
• Delta: -76.12%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26313 Cavallo Rd	0.49mi	3/1.0	1,766 (+9%)	9mo	$190,000	$108	55

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

Projected returns pro-forma

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

5-year hold

• IRR: 72.5%
• Equity multiple: 4.29×
• Total profit: $45,547
• Equity at exit: $7,381

10-year hold

• IRR: 76.4%
• Equity multiple: 8.85×
• Total profit: $108,813
• Equity at exit: $4,280

Cash invested: $13,860 (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 43028

• Home prices YoY: -32.1%
• Active inventory: 116
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,577 medium
• Mortgage (P&I): −$260
• Tax from tax record: −$125 /mo · $1,503/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $840

Break-even live

Break-even rent $513

Max offer price $49,500

Occupancy floor 42%

Sensitivity live

Price	-10% $868	-5% $854	+0% $840	+5% $826	+10% $812
Rent	-10% $716	-5% $778	+0% $840	+5% $902	+10% $965
Rate	-1.0pp $865	-0.5pp $853	base $840	+0.5pp $827	+1.0pp $814

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-31
   days on market $49,500 Active 90 DOM
2. 2026-03-02
   listed $49,500 Active 476-char remark

   Show marketing remark (476 chars)

   Investor Opportunity in Howard! Situated on a spacious half-acre lot with no HOA, this property is a blank canvas for your next major project. While the interior and a portion of the roof require a total overhaul due to fire damage, the foundation remains in good shape. A massive head start is included with several salvageable high-value components: the hot water tank and furnace are only 3 years old, and the HVAC system is in working order. Sold as-is with no appliances.

3. 2024-05-23
   historical 514-char remark

   Show marketing remark (514 chars)

   Country home situated on two parcels totaling (. 35 of an acre) and located directly across the street from the scenic Kokosing River and Kokosing Gap Trail! This home features 3-4 bedrooms and one full bath, nice cabinet filled kitchen, newer carpeting, and a new roof(2019)! Awesome front deck and back patio, BOTH - Great for entertaining or to just take a break and relax! Easy to care for vinyl sided exterior, forced air-natural gas furnace, central air conditioning, modern windows. This home is a MUST SEE!

4. 2020-07-31
   soldstatus $91,500
5. 2018-07-19
   listed $89,900 514-char remark

   Show marketing remark (514 chars)

   Country home situated on two parcels totaling (. 35 of an acre) and located directly across the street from the scenic Kokosing River and Kokosing Gap Trail! This home features 3-4 bedrooms and one full bath, nice cabinet filled kitchen, newer carpeting, and a new roof(2019)! Awesome front deck and back patio, BOTH - Great for entertaining or to just take a break and relax! Easy to care for vinyl sided exterior, forced air-natural gas furnace, central air conditioning, modern windows. This home is a MUST SEE!

6. 1994-10-25
   soldstatus $59,900

ⓘ 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: $1,503 · $125/mo
• Projected year-2 tax: $1,503 · $125/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,920
• − Mortgage interest: −$2,773
• − Property taxes: −$1,503
• − Insurance: −$248
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$1,440
• Taxable income: $9,929
• Est. tax owed @ 24.0%: −$2,383
• After-tax cash flow: $7,698/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: East Knox Local
• NCES district ID: 3910013
• Math proficiency: 55% ▼ -4.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $54,761
• Composite: 50.27/100
• National rank: #1888
• State rank: #302 of 656 in OH

Livability — Howard

• Score: 64/100
• State rank: #771
• US rank: #14016

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Knox · 63,297 people
• Population (ZIP): 8,063
• Household income: $89,543
• Rent vs Own: 9.3% rent · 90.7% own

Population outlook (Knox County) Hauer SSP2

• Today (2025): 60,036 people
• By 2030: 58,670 · -2.3%
• By 2040: 54,963 · -8.4%
• By 2050: 51,353 · -14.5%
• By 2075: 43,196 · -28.0%
• By 2100: 34,514 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Asian 2% Hispanic / Latino 2% Black 1%
• Common ancestry: Iranian 3% Romanian 2% Italian 2%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · German/W. Germanic 2% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+44.9) · D 27.1% · R 72.0%
• 2008→2024 swing: -25.0pp toward R · 2008: -19.9pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.8 2016: R+38.2 2012: R+24.3 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.51%
• Current HPI: 304.1773
• 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

-17.4% since first listed

5 events — show timeline

• 2026-03-02 Listed $49,500 CBRMLS
• 2024-05-23 Delisted — KCBOR
• 2020-07-31 Sold (Public Records) $91,500 Public Records
• 2018-07-19 Listed $89,900 KCBOR
• 1994-10-25 Sold (Public Records) $59,900 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,503 · +4.2% YoY. Source: county tax records.