323 N Grant St · Wooster, OH 44691

$179,000

6 bd · 3.0 ba · 2,212 sqft · MultiFamily public records · 14 Days on market

Built 1926 4,878 sqft lot Est $170k · 5% over

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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 +5.2/15.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Nice investment property near downtown Buehlers. Unit 1 is a studio apartment and U-2 (main floor) and U-3 (upstairs) are 1 bedroom, 1 bath units. This triplex has been nicely maintained over the years and has 2 long term tenants currently in place. Home has newer furnace and hot water heater. Electric is separated.

Key facts

• 4,878 sq ft lot
• Built 1926
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $368/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Cap rate 13.7% vs local median 3.2% in Wooster — 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 (#195 in OH, #3,001 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities D-, commute F.
• Wooster City (town): math 47% / reading 57% proficiency, ranked #422 of 656 in OH (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.4%/yr); 154 active listings in the ZIP; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).
• At $2,917/mo this rent would consume 50% of the median local household income ($70k/yr) (locally 844% of renters already pay >50% of income on rent) — 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $90k; list at $179k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.63% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.43%
• DSCR: 2.18
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $170,324
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
453 N Buckeye St	0.28mi	5/3.0 (-1)	2,396 (+8%)	14mo	$185,000	$77	56

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 2.13×
• Total profit: $56,749
• Equity at exit: $26,689

10-year hold

• IRR: 36.3%
• Equity multiple: 5.19×
• Total profit: $210,211
• Equity at exit: $15,477

Cash invested: $50,120 (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 44691

• Rents YoY: 8.4%
• Active inventory: 154
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $2,917 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $1,104

Break-even live

Break-even rent $1,519

Max offer price $179,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,916
Total (3 units)			$2,917

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-24
   status Pending
2. 2026-04-10
   listed $179,000 Active
3. 2025-11-15
   historical
4. 2025-08-25
   listed $189,000 Active
5. 2019-09-26
   soldstatus $90,000
6. 2019-09-24
   soldstatus $90,000 Closed 317-char remark

   Show marketing remark (317 chars)

   Nice investment property near downtown Buehlers. Unit 1 is a studio apartment and U-2 (main floor) and U-3 (upstairs) are 1 bedroom, 1 bath units. This triplex has been nicely maintained over the years and has 2 long term tenants currently in place. Home has newer furnace and hot water heater. Electric is separated.

7. 2019-08-27
   status Pending 317-char remark

   Show marketing remark (317 chars)

   Nice investment property near downtown Buehlers. Unit 1 is a studio apartment and U-2 (main floor) and U-3 (upstairs) are 1 bedroom, 1 bath units. This triplex has been nicely maintained over the years and has 2 long term tenants currently in place. Home has newer furnace and hot water heater. Electric is separated.

8. 2019-07-07
   historical Contingent 317-char remark

   Show marketing remark (317 chars)

   Nice investment property near downtown Buehlers. Unit 1 is a studio apartment and U-2 (main floor) and U-3 (upstairs) are 1 bedroom, 1 bath units. This triplex has been nicely maintained over the years and has 2 long term tenants currently in place. Home has newer furnace and hot water heater. Electric is separated.

9. 2019-07-01
   listed $90,000 Active 317-char remark

   Show marketing remark (317 chars)

   Nice investment property near downtown Buehlers. Unit 1 is a studio apartment and U-2 (main floor) and U-3 (upstairs) are 1 bedroom, 1 bath units. This triplex has been nicely maintained over the years and has 2 long term tenants currently in place. Home has newer furnace and hot water heater. Electric is separated.

ⓘ 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: $2,245 · $187/mo
• Projected year-2 tax: $2,519 · $210/mo
• Expected delta: +$274/yr (+$23/mo · 12.2%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,004
• − Mortgage interest: −$10,027
• − Property taxes: −$2,245
• − Insurance: −$895
• − Repairs & maintenance: −$2,800
• − Management: −$2,800
• − Depreciation: −$5,207
• Taxable income: $11,029
• Est. tax owed @ 24.0%: −$2,647
• After-tax cash flow: $10,602/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: Wooster City
• NCES district ID: 3910032
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 57% ▼ -11.00%
• Median HH income: $43,805
• Composite: 43.82/100
• National rank: #2928
• State rank: #422 of 656 in OH

Livability — Wooster

• Score: 77/100
• State rank: #195
• US rank: #3001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wooster, OH
• County: Wayne County · 44,344 people
• City population: 44,344
• Metro: Wooster, OH
• Population (ZIP): 44,344
• Household income: $69,920
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 844.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 116,616 people
• By 2030: 116,214 · -0.3%
• By 2040: 113,891 · -2.3%
• By 2050: 109,009 · -6.5%
• By 2075: 94,622 · -18.9%
• By 2100: 70,577 · -39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 2% Black 2% Asian 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · German/W. Germanic 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -24.6pp toward R · 2008: -14.6pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.0 2016: R+34.9 2012: R+21.3 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.13%
• Current HPI: 231.7627
• Rent YoY: ▲ 8.42%
• Metro: Wooster, 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

+98.9% since first listed

9 events — show timeline

• 2026-04-24 Pending — MLSNOW
• 2026-04-10 Listed $179,000 MLSNOW
• 2025-11-15 Listing Removed — MLSNOW
• 2025-08-25 Listed $189,000 MLSNOW
• 2019-09-26 Sold (Public Records) $90,000 Public Records
• 2019-09-24 Sold (MLS) $90,000 MLSNOW
• 2019-08-27 Pending — MLSNOW
• 2019-07-07 Contingent — MLSNOW
• 2019-07-01 Listed $90,000 MLSNOW

Property tax history

+2.9%/yr

Latest (2025): $2,245 · -0.4% YoY. Source: county tax records.