511 E Temple St · Washington Court House, OH 43160

$425,000

None bd · None ba · 2,594 sqft · MultiFamily public records · 162 Days on market

Built 1850 0.32 ac lot $164/sqft · 160% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Cash flowing property!! This rare opportunity does not come along often. 12 units average rent $725 per unit. some units have their own shower. Landlord pays all utilities. Many updates.

Key facts

• 0.32 acre lot
• Built 1850
• Listed 162 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 2.6% in Washington Court House — 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 77/100 on livability (#191 in OH, #2,912 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Washington Court House City (town): math 54% / reading 54% proficiency, ranked #409 of 656 in OH (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cherry Hill Primary (480 students, 65% FRL); Washington Middle School (math 55% / reading 50%, grade C+, #378 of 654 statewide, top 59%, 457 students, 58% FRL); Washington High School (math 42% / reading 52%, grade D-, #435 of 781 statewide, top 59%, 637 students, 50% FRL).
• Market conditions: 118 active listings in the ZIP; 71 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• At $9,888/mo this rent would consume 206% of the median local household income ($57k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Fayette County population projected at -18% 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 $119k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $138k; list at $425k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.33% ✓
• Cap rate: 20.99%
• Cash-on-cash: 52.48%
• DSCR: 3.34
• GRM: 3.6

CMA / ARV

• ARV (median comp): $163,166
• List price: $425,000
• Delta: 160.47%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 Washington Ave	0.46mi	6/—	2,680 (+3%)	8mo	$195,000	$73	66
201 N Hinde St	0.43mi	6/—	2,832 (+9%)	6mo	$180,000	$64	60
206 W Market St Unit 206-208	0.45mi	5/—	2,788 (+8%)	11mo	$143,500	$51	58
423 Van Deman St	0.64mi	6/—	2,592 (-0%)	19mo	$229,000	$88	54

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: 50.5%
• Equity multiple: 3.21×
• Total profit: $262,552
• Equity at exit: $63,369

10-year hold

• IRR: 55.9%
• Equity multiple: 6.51×
• Total profit: $655,234
• Equity at exit: $36,746

Cash invested: $119,000 (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 43160

• Active inventory: 118
• Price-to-rent: 43.0×

Monthly cashflow live

• Estimated rent: $9,888 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$201 /mo · $2,415/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,076
• Net cashflow: $5,204

Break-even live

Break-even rent $3,300

Max offer price $425,000

Occupancy floor 42%

Sensitivity live

Price	-10% $5,445	-5% $5,325	+0% $5,204	+5% $5,084	+10% $4,964
Rent	-10% $4,423	-5% $4,814	+0% $5,204	+5% $5,595	+10% $5,986
Rate	-1.0pp $5,418	-0.5pp $5,313	base $5,204	+0.5pp $5,094	+1.0pp $4,982

12-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$9,888
Total (12 units)			$9,888

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-01-22
   price $425,000 186-char remark

   Show marketing remark (186 chars)

   Cash flowing property!! This rare opportunity does not come along often. 12 units average rent $725 per unit. some units have their own shower. Landlord pays all utilities. Many updates.

2. 2025-12-16
   listed $525,000 Active 186-char remark

   Show marketing remark (186 chars)

   Cash flowing property!! This rare opportunity does not come along often. 12 units average rent $725 per unit. some units have their own shower. Landlord pays all utilities. Many updates.

3. 2001-12-26
   soldstatus $138,000
4. 1998-12-22
   soldstatus $35,000
5. 1998-05-28
   soldstatus $126,600
6. 1991-10-25
   soldstatus $79,000

ⓘ 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: $2,415 · $201/mo
• Projected year-2 tax: $4,522 · $377/mo
• Expected delta: +$2,108/yr (+$176/mo · 87.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,656
• − Mortgage interest: −$23,807
• − Property taxes: −$2,415
• − Insurance: −$2,125
• − Repairs & maintenance: −$9,492
• − Management: −$9,492
• − Depreciation: −$12,364
• Taxable income: $58,961
• Est. tax owed @ 24.0%: −$14,151
• After-tax cash flow: $48,303/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: Washington Court House City
• NCES district ID: 3910011
• Math proficiency: 54% ▼ -12.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $36,060
• Composite: 44.77/100
• National rank: #2747
• State rank: #409 of 656 in OH

Livability — Washington Court House

• Score: 77/100
• State rank: #191
• US rank: #2912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington Court House, OH
• County: Fayette · 25,566 people
• City population: 21,966
• Population (ZIP): 21,966
• Household income: $57,475
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 6.5

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 27,616 people
• By 2030: 26,760 · -3.1%
• By 2040: 24,789 · -10.2%
• By 2050: 22,550 · -18.3%
• By 2075: 16,893 · -38.8%
• By 2100: 11,246 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+55.1) · D 22.1% · R 77.2%
• 2008→2024 swing: -32.0pp toward R · 2008: -23.1pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+51.5 2016: R+47.1 2012: R+22.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -228.13%
• Current HPI: 240.7307
• 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

+438.0% since first listed

6 events — show timeline

• 2026-01-22 Price Changed $425,000 CBRMLS
• 2025-12-16 Listed $525,000 CBRMLS
• 2001-12-26 Sold (Public Records) $138,000 Public Records
• 1998-12-22 Sold (Public Records) $35,000 Public Records
• 1998-05-28 Sold (Public Records) $126,600 Public Records
• 1991-10-25 Sold (Public Records) $79,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $2,415 · -0.0% YoY. Source: county tax records.