627 W Foulke Ave · Findlay, OH 45840

$194,900

4 bd · 1.5 ba · 1,536 sqft · SingleFamily public records · 56 Days on market

Built 1967 8,350 sqft lot $127/sqft · 10% above area Est $176k · 10% over

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Why this score? — see what drove the C- 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 +21.0/30.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Northend 2 story with lots of room and storage. One car garage and a carport. Large fenced in yard close to restaurants, shopping and schools. Large rooms in this 4 bedroom, 1.5 bath, living room, dining room and kitchen. Laundry on the 1st floor. hardwood floors throughout.

Key facts

• One car garage
• Close to restaurants
• Carport

Tags

• FENCED IN YARD
• HARDWOOD FLOORS
• ONE CAR GARAGE
• CARPORT
• LAUNDRY ON THE 1ST FLOOR
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Parking: Attached carport (1 space); Detached garage (1 space); Driveway parking (gravel)
• Utilities: Public water; Public sewer; Electricity connected and available; Natural gas connected; Cable, internet and WiFi available
• Home design: Single-family house; Two levels (2-story); Not attached to other structures; Year built (public records)
• Construction: Aluminum siding; Asphalt roof; Block foundation with crawl space
• Exterior features: Fire pit; Chain link fence; Asphalt road frontage and driveway

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Water heater
• Bedrooms: Upper level bedrooms (multiple)
• Flooring: Carpet; Hardwood; Linoleum; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Main-level laundry with accessible utilities

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (0.5% below list).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.0% in Findlay — 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 81/100 on livability (#98 in OH, #1,496 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Findlay City (town): math 56% / reading 56% proficiency, ranked #357 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northview Primary School (math 57% / reading 57%, grade C+, #729 of 1,584 statewide, top 48%, 361 students, 54% FRL); Glenwood Middle School (math 47% / reading 41%, grade D, #484 of 654 statewide, top 74%, 535 students, 45% FRL); Findlay High School (math 51% / reading 60%, grade C, #296 of 781 statewide, top 39%, 1,915 students, 31% FRL).
• Market conditions: Rents rising fast (+5.7%/yr); 219 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 257 units permitted in Hancock County in 2024 (150 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hancock County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1967 — 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. 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?
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: 0.99% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (median comp): $176,434
• List price: $194,900
• Delta: 13.30%
• 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
701 W Melrose Ave	0.56mi	3/1.5 (-1)	1,520 (-1%)	2mo	$238,500	$157	66
142 Clifton Ave	0.53mi	3/1.5 (-1)	1,494 (-3%)	1mo	$156,277	$105	65
315 W Melrose Ave	0.65mi	3/1.0 (-1)	1,542 (+0%)	2mo	$204,500	$133	61
1934 Geffs Ave	0.63mi	4/1.5	1,643 (+7%)	0mo	$213,500	$130	58
2318 Anna St	0.71mi	3/1.0 (-1)	1,548 (+1%)	2mo	$194,970	$126	57
137 Allen Ave	0.67mi	4/2.0	1,624 (+6%)	1mo	$181,500	$112	57
524 Defiance Ave	0.46mi	4/2.0	1,397 (-9%)	6mo	$150,000	$107	56
706 N Cory St	0.72mi	5/2.5 (+1)	1,532 (-0%)	3mo	$175,000	$114	54
115 George St	0.66mi	4/3.0	1,597 (+4%)	5mo	$150,000	$94	52
1005 Broad Ave	0.36mi	4/4.0	1,750 (+14%)	3mo	$185,000	$106	48
925 W Melrose Ave	0.67mi	3/2.0 (-1)	1,671 (+9%)	2mo	$280,000	$168	45
224 Defiance Ave	0.74mi	4/2.0	1,716 (+12%)	4mo	$199,900	$116	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 · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-8,733
• Equity at exit: $29,060

10-year hold

• IRR: 8.2%
• Equity multiple: 1.70×
• Total profit: $38,104
• Equity at exit: $16,851

Cash invested: $54,572 (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 45840

• Rents YoY: 5.7%
• Active inventory: 219
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,939 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$153 /mo · $1,840/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $275

Break-even live

Break-even rent $1,591

Max offer price $194,900

Occupancy floor 81%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Potomac Dr Bldg 6 Findlay, OH	3.0	2.5	1365	$1,995	$1.46	43d	1	1.45mi

Listing history 18 events

1. 2026-06-19
   days on market $194,900 Active 56 DOM
2. 2026-06-18
   days on market $194,900 Active 55 DOM
3. 2026-06-17
   price $194,900 Active 54 DOM
4. 2026-06-17
   days on market $199,900 Active 54 DOM
5. 2026-06-16
   days on market $199,900 Active 53 DOM
6. 2026-06-15
   days on market $199,900 Active 52 DOM
7. 2026-06-14
   days on market $199,900 Active 50 DOM
8. 2026-06-12
   days on market $199,900 Active 49 DOM
9. 2026-06-09
   days on market $199,900 Active 46 DOM
10. 2026-06-08
    days on market $199,900 Active 45 DOM
11. 2026-06-07
    days on market $199,900 Active 44 DOM
12. 2026-06-05
    days on market $199,900 Active 41 DOM
13. 2026-06-02
    days on market $199,900 Active 39 DOM
14. 2026-06-01
    days on market $199,900 Active 38 DOM
15. 2026-05-31
    days on market $199,900 Active 37 DOM
16. 2026-05-30
    days on market $199,900 Active 36 DOM
17. 2026-04-22
    listed $204,900 Active 275-char remark
18. 2022-03-31
    price $1,200

ⓘ 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: $1,840 · $153/mo
• Projected year-2 tax: $2,440 · $203/mo
• Expected delta: +$600/yr (+$50/mo · 32.6%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,263
• − Mortgage interest: −$10,917
• − Property taxes: −$1,840
• − Insurance: −$974
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$5,670
• Taxable income: $140
• Est. tax owed @ 24.0%: −$33
• After-tax cash flow: $3,265/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: Findlay City
• NCES district ID: 3910000
• Math proficiency: 56% ▼ -11.00%
• Reading proficiency: 56% ▼ -9.00%
• Median HH income: $45,261
• Composite: 47.31/100
• National rank: #2300
• State rank: #357 of 656 in OH

Livability — Findlay

• Score: 81/100
• State rank: #98
• US rank: #1496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Findlay, OH
• County: Hancock County · 54,559 people
• City population: 54,559
• Metro: Findlay, OH
• Population (ZIP): 54,559
• Household income: $68,083
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1540.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,526 people
• By 2030: 77,777 · +0.3%
• By 2040: 76,976 · -0.7%
• By 2050: 74,479 · -3.9%
• By 2075: 65,741 · -15.2%
• By 2100: 52,942 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+38.4) · D 30.2% · R 68.7% · Other 1.1%
• 2008→2024 swing: -15.3pp toward R · 2008: -23.1pp · 2024: -38.4pp
• All cycles: 2024: R+38.4 2020: R+37.5 2016: R+40.8 2012: R+28.3 2008: R+23.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.43%
• Current HPI: 194.9132
• Rent YoY: ▲ 5.68%
• Metro: Findlay, OH
• 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

+16141.7% since first listed

4 events — show timeline

• 2026-06-17 Price Changed $194,900 NORIS
• 2026-05-20 Price Changed $199,900 NORIS
• 2026-04-22 Listed $204,900 NORIS
• 2022-03-31 Price Changed $1,200 RENT.

Property tax history

+5.7%/yr

Latest (2025): $1,840 · +10.6% YoY. Source: county tax records.