503 S Broadway St · Blanchester, OH 45107

$130,000

3 bd · 1.0 ba · 1,024 sqft · SingleFamily public records · 171 Days on market

Built 1900 5,663 sqft lot $127/sqft · 33% below area Est $193k · 33% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• Schools +4.2/10.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer upper in the heart of Blanchester! This charming 2-bedroom, 1 bath home just needs some updating to turn it into the perfect home. The natural woodwork and cozy feeling of the home will make it hard to not fall in love. Endless possibilities!!

Key facts

• 5,663 sq ft lot
• Built 1900
• Listed 171 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-1 ($-13/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (18.6% below list).
• Recommended offer: $106k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.9% in Blanchester — 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 64/100 on livability (#773 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Blanchester Local (town): math 44% / reading 56% proficiency, ranked #441 of 656 in OH (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 40 active listings in the ZIP; 119 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clinton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y 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.
• Current owner paid $65k; list at $130k implies a 100% 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 $105,864 (18.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.03%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

• ARV (median comp): $192,771
• List price: $130,000
• Delta: -32.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Lazenby St	0.48mi	3/1.0	960 (-6%)	3mo	$210,000	$219	65
111 W Baldwin St	0.48mi	3/1.0	986 (-4%)	10mo	$175,000	$177	63
7485 St Rt 123	0.56mi	3/1.0	1,112 (+9%)	1mo	$250,000	$225	59
5458 Oak Grove Ave	0.61mi	3/1.0	960 (-6%)	6mo	$136,000	$142	56
129 Ash Ln	0.65mi	3/1.0	988 (-4%)	9mo	$174,000	$176	56
5545 Maple Grove Ave	0.63mi	4/2.0 (+1)	1,056 (+3%)	2mo	$252,500	$239	55
7484 Fairground Rd	0.67mi	3/1.0	1,100 (+7%)	5mo	$225,000	$205	53
319 E Main St	0.44mi	2/2.0 (-1)	1,088 (+6%)	11mo	$145,000	$133	51
196 Orchard Cir	0.70mi	3/1.0	914 (-11%)	1mo	$175,000	$191	49
5324 Clearview Ave	0.53mi	3/1.5	912 (-11%)	9mo	$224,900	$247	48
501 E Johns St	0.67mi	2/1.0 (-1)	913 (-11%)	2mo	$97,500	$107	44
219 Orchard Cir	0.68mi	3/1.0	1,144 (+12%)	11mo	$179,900	$157	40

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-21,154
• Equity at exit: $19,383

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-18,594
• Equity at exit: $11,240

Cash invested: $36,400 (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 45107

• Home prices YoY: -19.6%
• Active inventory: 40
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$101 /mo · $1,218/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $-1

Break-even live

Break-even rent $1,060

Max offer price $129,815

Occupancy floor 95%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $130,000 Active 171 DOM
2. 2026-06-17
   days on market $130,000 Active 170 DOM
3. 2026-06-16
   days on market $130,000 Active 169 DOM
4. 2026-06-15
   days on market $130,000 Active 168 DOM
5. 2026-06-13
   days on market $130,000 Active 166 DOM
6. 2026-06-12
   days on market $130,000 Active 165 DOM
7. 2026-06-09
   days on market $130,000 Active 162 DOM
8. 2026-06-08
   days on market $130,000 Active 161 DOM
9. 2026-06-07
   days on market $130,000 Active 160 DOM
10. 2026-06-05
    days on market $130,000 Active 158 DOM
11. 2026-06-04
    days on market $130,000 Active 156 DOM
12. 2026-06-02
    days on market $130,000 Active 155 DOM
13. 2026-06-01
    days on market $130,000 Active 154 DOM
14. 2026-05-31
    days on market $130,000 Active 153 DOM
15. 2025-12-22
    listed $130,000 Active 249-char remark

    Show marketing remark (249 chars)

    Fixer upper in the heart of Blanchester! This charming 2-bedroom, 1 bath home just needs some updating to turn it into the perfect home. The natural woodwork and cozy feeling of the home will make it hard to not fall in love. Endless possibilities!!

16. 2025-11-14
    historical 249-char remark

    Show marketing remark (249 chars)

    Fixer Upper in the middle of Blanchester! This charming 2 bedroom, 1 bath home just needs some updating and it will be the perfect home! The natural woodwork and cozy feeling of the home will make it hard to not fall in love. Endless possibilities!!

17. 2024-11-15
    listed $140,000 Active 249-char remark

    Show marketing remark (249 chars)

    Fixer Upper in the middle of Blanchester! This charming 2 bedroom, 1 bath home just needs some updating and it will be the perfect home! The natural woodwork and cozy feeling of the home will make it hard to not fall in love. Endless possibilities!!

18. 2005-10-19
    soldstatus $65,000
19. 2005-08-31
    soldstatus $46,000
20. 2005-02-18
    listed $55,250
21. 2000-04-03
    soldstatus $68,300
22. 1998-08-28
    soldstatus $35,000
23. 1998-05-20
    listed $37,900
24. 1995-10-18
    soldstatus $45,000
25. 1990-04-04
    soldstatus $34,000

ⓘ 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: $1,218 · $101/mo
• Projected year-2 tax: $1,623 · $135/mo
• Expected delta: +$405/yr (+$34/mo · 33.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 19 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: $12,704
• − Mortgage interest: −$7,282
• − Property taxes: −$1,218
• − Insurance: −$650
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$3,782
• Taxable loss: −$2,260
• Est. tax savings @ 24.0%: +$542
• After-tax cash flow: $530/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: Blanchester Local
• NCES district ID: 3904638
• Math proficiency: 44% ▼ -18.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $45,867
• Composite: 42.34/100
• National rank: #3254
• State rank: #441 of 656 in OH

Livability — Blanchester

• Score: 64/100
• State rank: #773
• US rank: #14033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blanchester, OH
• County: Clinton · 46,911 people
• City population: 9,748
• Population (ZIP): 9,748
• Household income: $65,625
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 2.7

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 41,352 people
• By 2030: 40,831 · -1.3%
• By 2040: 39,049 · -5.6%
• By 2050: 36,408 · -12.0%
• By 2075: 29,652 · -28.3%
• By 2100: 20,736 · -49.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Native American 2% Two or more races 2%
• Common ancestry: Slovak 4% Italian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+54.6) · D 22.3% · R 76.9%
• 2008→2024 swing: -24.3pp toward R · 2008: -30.3pp · 2024: -54.6pp
• All cycles: 2024: R+54.6 2020: R+52.6 2016: R+52.6 2012: R+35.2 2008: R+30.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.71%
• Current HPI: 315.5856
• 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

+282.4% since first listed

11 events — show timeline

• 2025-12-22 Listed $130,000 Cincy MLS
• 2025-11-14 Listing Removed — Cincy MLS
• 2024-11-15 Listed $140,000 Cincy MLS
• 2005-10-19 Sold (Public Records) $65,000 Public Records
• 2005-08-31 Sold (MLS) $46,000 Cincy MLS
• 2005-02-18 Listed $55,250 Cincy MLS
• 2000-04-03 Sold (Public Records) $68,300 Public Records
• 1998-08-28 Sold (MLS) $35,000 Cincy MLS
• 1998-05-20 Listed $37,900 Cincy MLS
• 1995-10-18 Sold (Public Records) $45,000 Public Records
• 1990-04-04 Sold (Public Records) $34,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,218 · -5.8% YoY. Source: county tax records.