1625 E Pleasant St · Springfield, OH 45505

$135,000

3 bd · 1.0 ba · 1,139 sqft · MultiFamily public records · 45 Days on market

Built 1916 6,098 sqft lot $119/sqft · 51% above area Est $134k · at est.

---

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).

• Cash flow +18.3/30.0
• ARV discount +7.1/15.0
• DSCR +5.7/10.0
• 1% rule +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1916

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public sewer; Municipal water supply
• Home design: Single family residence; House; Built in 1916
• Construction: Asbestos construction material; Concrete perimeter foundation
• Exterior features: Porch; Residential lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Dishwasher; Range; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $121k (10.1% below list).
• Recommended offer: $121k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kenwood Elementary (math 12% / reading 24%, grade F, #1,326 of 1,584 statewide, top 84%, 402 students, 0% FRL); Hayward Middle School (math 15% / reading 14%, grade F, #630 of 654 statewide, top 97%, 339 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 158 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 33% of the median local income ($44k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,395 (10.1% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
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: 0.90% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (median comp): $133,862
• List price: $135,000
• Delta: 0.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-14,119
• Equity at exit: $20,129

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-2,419
• Equity at exit: $11,672

Cash invested: $37,800 (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 45505

• Home prices YoY: -34.3%
• Active inventory: 158
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$708
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $122

Break-even live

Break-even rent $1,059

Max offer price $135,000

Occupancy floor 85%

Sensitivity live

Price	-10% $199	-5% $161	+0% $122	+5% $84	+10% $46
Rent	-10% $27	-5% $74	+0% $122	+5% $170	+10% $218
Rate	-1.0pp $190	-0.5pp $157	base $122	+0.5pp $87	+1.0pp $52

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	45d	1	0.29mi
830 Oak St Unit 830 Springfield, OH	4.0	1.5	1400	$1,250	$0.89	16d	1	0.39mi
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	3d	1	0.93mi
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	45d	1	1.09mi
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	25d	1	1.14mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	23d	1	1.33mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	21d	1	1.36mi

Listing history 17 events

1. 2026-06-19
   days on market $135,000 Active 45 DOM
2. 2026-06-18
   days on market $135,000 Active 44 DOM
3. 2026-06-17
   days on market $135,000 Active 43 DOM
4. 2026-06-16
   days on market $135,000 Active 42 DOM
5. 2026-06-15
   days on market $135,000 Active 41 DOM
6. 2026-06-14
   days on market $135,000 Active 39 DOM
7. 2026-06-12
   pricedays on market $135,000 Active 38 DOM
8. 2026-06-09
   days on market $144,000 Active 35 DOM
9. 2026-06-08
   days on market $144,000 Active 34 DOM
10. 2026-06-07
    days on market $144,000 Active 33 DOM
11. 2026-06-05
    days on market $144,000 Active 30 DOM
12. 2026-06-02
    days on market $144,000 Active 28 DOM
13. 2026-06-01
    days on market $144,000 Active 27 DOM
14. 2026-05-31
    days on market $144,000 Active 26 DOM
15. 2026-05-30
    days on market $144,000 Active 25 DOM
16. 2026-05-05
    listed $153,000 Active
17. 2025-03-31
    soldstatus $110,000

ⓘ 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: $869 · $72/mo
• Projected year-2 tax: $1,487 · $124/mo
• Expected delta: +$619/yr (+$52/mo · 71.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,567
• − Mortgage interest: −$7,562
• − Property taxes: −$869
• − Insurance: −$675
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,927
• Taxable loss: −$796
• Est. tax savings @ 24.0%: +$191
• After-tax cash flow: $1,660/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 19,826
• Household income: $43,819
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 950.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 1% German 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.16%
• Current HPI: 258.9037
• Rent YoY: —
• Metro: Springfield, 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

+22.7% since first listed

4 events — show timeline

• 2026-06-10 Price Changed $135,000 WRIST
• 2026-05-21 Price Changed $144,000 WRIST
• 2026-05-05 Listed $153,000 WRIST
• 2025-03-31 Sold (Public Records) $110,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $869 · +31.1% YoY. Source: county tax records.