479 Town St · Circleville, OH 43113

$75,000

3 bd · 2.0 ba · 1,080 sqft · Manufactured · 23 Days on market

Built 2002 6,098 sqft lot

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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
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Online public real estate auction, the minimum bid is $75,000.00. Bidding commences now takes place on the auction website. This auction begins to end at 7:00 PM Monday, May 4th, 2026. Agents, please see 'A2A' for auction terms and conditions. Terrific opportunity this partially rehabbed mobile home situated on two parcels features a 3 bed/2bath ranch home. Conveniently located close everything Circleville has to offer. With most of the rehab complete this property a great value with the opportunity to put your finishing touches on it. With a tankless water heater, stainless appliances, a 2 car side load garage, all on two parcels corner lot. the new roof, siding, windows needs buttoned up and finishing touches outside. New drywall, fixtures, and flooring needs the same inside.

Key facts

• Two parcels
• Stainless appliances
• Corner lot

Tags

• PARTIALLY REHABBED MOBILE HOME
• TWO PARCELS
• TANKLESS WATER HEATER
• STAINLESS APPLIANCES
• CORNER LOT
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/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: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 2.9% in Circleville — 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 71/100 on livability (#437 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Circleville City (town): math 37% / reading 47% proficiency, ranked #533 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 121 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 312 units permitted in Pickaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pickaway County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 2.5% of price.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.87% ✓
• Cap rate: 14.71%
• Cash-on-cash: 30.06%
• DSCR: 2.34
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 24.7%
• Equity multiple: 2.02×
• Total profit: $21,412
• Equity at exit: $11,183

10-year hold

• IRR: 32.5%
• Equity multiple: 3.95×
• Total profit: $62,035
• Equity at exit: $6,485

Cash invested: $21,000 (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 43113

• Active inventory: 121
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $526

Break-even live

Break-even rent $738

Max offer price $75,000

Occupancy floor 58%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 E Union St Unit 412 Front Circleville, OH	3.0	1.0	1100	$1,375	$1.25	43d	1	0.59mi
504 S Court St Circleville, OH	2.0	1.0	1000	$1,225	$1.23	23d	1	0.76mi
344 Watt St Circleville, OH	3.0	2.0	1400	$1,725	$1.23	17d	1	0.93mi

Listing history 10 events

1. 2026-05-05
   status Pending 788-char remark

   Show marketing remark (788 chars)

   Online public real estate auction, the minimum bid is $75,000.00. Bidding commences now takes place on the auction website. This auction begins to end at 7:00 PM Monday, May 4th, 2026. Agents, please see 'A2A' for auction terms and conditions. Terrific opportunity this partially rehabbed mobile home situated on two parcels features a 3 bed/2bath ranch home. Conveniently located close everything Circleville has to offer. With most of the rehab complete this property a great value with the opportunity to put your finishing touches on it. With a tankless water heater, stainless appliances, a 2 car side load garage, all on two parcels corner lot. the new roof, siding, windows needs buttoned up and finishing touches outside. New drywall, fixtures, and flooring needs the same inside.

2. 2026-04-12
   listed $75,000 Active 788-char remark

   Show marketing remark (788 chars)

   Online public real estate auction, the minimum bid is $75,000.00. Bidding commences now takes place on the auction website. This auction begins to end at 7:00 PM Monday, May 4th, 2026. Agents, please see 'A2A' for auction terms and conditions. Terrific opportunity this partially rehabbed mobile home situated on two parcels features a 3 bed/2bath ranch home. Conveniently located close everything Circleville has to offer. With most of the rehab complete this property a great value with the opportunity to put your finishing touches on it. With a tankless water heater, stainless appliances, a 2 car side load garage, all on two parcels corner lot. the new roof, siding, windows needs buttoned up and finishing touches outside. New drywall, fixtures, and flooring needs the same inside.

3. 2024-10-09
   soldstatus $77,100
4. 2024-09-26
   soldstatus $77,100
5. 2007-03-01
   soldstatus $82,900
6. 2007-02-16
   soldstatus $82,900 197-char remark

   Show marketing remark (197 chars)

   Shows Like New! Pretty ranch w/ spacious master bdrm. with walk-in closet; cathedral ceilings in LR & DR; 2 full baths-one off laundry room; nice garage; double lot. Priced To Sell! . 252 ac.

7. 2007-01-15
   historical 197-char remark

   Show marketing remark (197 chars)

   Shows Like New! Pretty ranch w/ spacious master bdrm. with walk-in closet; cathedral ceilings in LR & DR; 2 full baths-one off laundry room; nice garage; double lot. Priced To Sell! . 252 ac.

8. 2006-04-05
   listed $82,900 197-char remark

   Show marketing remark (197 chars)

   Shows Like New! Pretty ranch w/ spacious master bdrm. with walk-in closet; cathedral ceilings in LR & DR; 2 full baths-one off laundry room; nice garage; double lot. Priced To Sell! . 252 ac.

9. 2002-07-12
   soldstatus $10,000
10. 1996-02-22
    soldstatus $65,000

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $1,905 · $159/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,851
• − Mortgage interest: −$4,201
• − Property taxes: −$1,905
• − Insurance: −$375
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$2,182
• Taxable income: $5,492
• Est. tax owed @ 24.0%: −$1,318
• After-tax cash flow: $4,994/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: Circleville City
• NCES district ID: 3904376
• Math proficiency: 37% ▼ -19.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $39,318
• Composite: 35.09/100
• National rank: #5021
• State rank: #533 of 656 in OH

Livability — Circleville

• Score: 71/100
• State rank: #437
• US rank: #7237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Circleville, OH
• County: Pickaway · 57,589 people
• Metro: Columbus, OH
• Population (ZIP): 24,314
• Household income: $63,715
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 7.4

Population outlook (Pickaway County) Hauer SSP2

• Today (2025): 59,488 people
• By 2030: 60,400 · +1.5%
• By 2040: 61,498 · +3.4%
• By 2050: 61,478 · +3.3%
• By 2075: 59,696 · +0.3%
• By 2100: 51,458 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Black 1%
• Common ancestry: Slovak 2% Romanian 2% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Pickaway

• 2024 margin: Solid R (+48.5) · D 25.3% · R 73.8%
• 2008→2024 swing: -26.8pp toward R · 2008: -21.7pp · 2024: -48.5pp
• All cycles: 2024: R+48.5 2020: R+47.0 2016: R+42.6 2012: R+18.7 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.77%
• Current HPI: 241.5556
• 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

+15.4% since first listed

10 events — show timeline

• 2026-05-05 Pending — CBRMLS
• 2026-04-12 Listed $75,000 CBRMLS
• 2024-10-09 Sold (Public Records) $77,100 Public Records
• 2024-09-26 Sold (Public Records) $77,100 Public Records
• 2007-03-01 Sold (Public Records) $82,900 Public Records
• 2007-02-16 Sold (MLS) $82,900 CBRMLS
• 2007-01-15 Listing Removed — CBRMLS
• 2006-04-05 Listed $82,900 CBRMLS
• 2002-07-12 Sold (Public Records) $10,000 Public Records
• 1996-02-22 Sold (Public Records) $65,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,905 · +0.2% YoY. Source: county tax records.