2735 Township Road 20 · Fulton, OH 43315

$75,000

2 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 31 Days on market

Built 1901 1.92 ac lot

---

Why this score? — see what drove the F 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 +7.5/15.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Cash flow +2.8/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE AUCTION, the RESERVE (minimum bid) is $75,000. The Auction ends at 7:00pm, Tuesday, 4/21/26. Bring your vision to life with this charming country farmhouse set in a peaceful, private rural setting. Situated on just under 2 acres in Morrow County, this property offers the perfect opportunity for a full renovation or investment project. With approximately 1364 sq ft of living space, the 1.5-story home provides a solid starting point for those ready to roll up their sleeves and create something special. The property is well-equipped for a variety of uses, featuring multiple outbuildings including a 72x28 barn in need of rehab, a 35x23 detached garage, and a 16x14 shed with fenced area

Key facts

• 72x28 barn
• Country farmhouse
• 16x14 shed

Tags

• COUNTRY FARMHOUSE
• PRIVATE RURAL SETTING
• MULTIPLE OUTBUILDINGS
• 72X28 BARN
• 35X23 DETACHED GARAGE
• 16X14 SHED

Property features AI

Finance

• Financial info: Property listed at auction

Exterior

• Parking: Detached 2-car garage
• Utilities: Private sewer; Well water
• Home design: Single-family residence; One-and-a-half stories; Built in 1901; No shared/common walls; Suitable for farm use
• Construction: Stone foundation
• Exterior features: Shed(s) and outbuilding; Lot about 1.92 acres

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom
• Interior features: Fireplace (one); Crawl space basement

🔨 Auction listing. The $75,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $346,456 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#895 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Cardington-Lincoln Local (rural): math 48% / reading 58% proficiency, ranked #395 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 129 units permitted in Morrow County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Morrow County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% 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 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1901 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.35% ✗
• Cap rate: 2.27%
• Cash-on-cash: -14.35%
• DSCR: 0.36
• GRM: 23.9

CMA / ARV

• ARV (on-the-fly): $346,456
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5280 Township Road 179	0.68mi	3/2.0 (+1)	1,296 (-5%)	11mo	$279,900	$216	42
2920 Township 20 Rd	0.53mi	3/2.0 (+1)	1,192 (-13%)	16mo	$355,000	$298	32
5358 Township Road 179	0.75mi	3/2.0 (+1)	1,200 (-12%)	13mo	$305,000	$254	26

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: -43.7%
• Equity multiple: -0.34×
• Total profit: $-130,183
• Equity at exit: $51,658

10-year hold

• IRR: -78.0%
• Equity multiple: -1.16×
• Total profit: $-209,131
• Equity at exit: $29,955

Cash invested: $97,008 (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 43315

• Home prices YoY: -25.8%
• Active inventory: 33
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$1,817
• Tax from tax record: −$152 /mo · $1,827/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $-1,160

Break-even live

Break-even rent $2,675

Max offer price $141,518

Occupancy floor —

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: $86,614
• Closing costs: $10,394
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-03-22
   listed $75,000 Active
3. 2014-01-15
   soldstatus $165,000
4. 2014-01-15
   soldstatus $165,000
5. 2013-11-21
   historical
6. 2013-09-03
   listed $189,900
7. 1972-06-01
   soldstatus $29,900

ⓘ 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: $1,827 · $152/mo
• Projected year-2 tax: $1,827 · $152/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 3/10 Moderate 7 d/yr ≥97°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: $14,482
• − Mortgage interest: −$19,407
• − Property taxes: −$1,827
• − Insurance: −$1,732
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$10,079
• Taxable loss: −$20,881
• Est. tax savings @ 24.0%: +$5,011
• After-tax cash flow: $-8,910/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: Cardington-Lincoln Local
• NCES district ID: 3904879
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $50,782
• Composite: 45.31/100
• National rank: #2646
• State rank: #395 of 656 in OH

Livability — Fulton

• Score: 62/100
• State rank: #895
• US rank: #16941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Morrow · 41,908 people
• City population: 357
• Metro: Columbus, OH
• Population (ZIP): 6,996
• Household income: $69,621
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 4.1

Population outlook (Morrow County) Hauer SSP2

• Today (2025): 35,607 people
• By 2030: 35,482 · -0.4%
• By 2040: 34,369 · -3.5%
• By 2050: 32,038 · -10.0%
• By 2075: 25,090 · -29.5%
• By 2100: 17,123 · -51.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 1%
• Common ancestry: Slovak 7% Portuguese 5% Romanian 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Morrow

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.5%
• 2008→2024 swing: -32.4pp toward R · 2008: -23.4pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+54.3 2016: R+49.5 2012: R+24.6 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.79%
• Current HPI: 235.5712
• 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

+150.8% since first listed

7 events — show timeline

• 2026-04-22 Pending — CBRMLS
• 2026-03-22 Listed $75,000 CBRMLS
• 2014-01-15 Sold (Public Records) $165,000 Public Records
• 2014-01-15 Sold (MLS) $165,000 CBRMLS
• 2013-11-21 Listing Removed — CBRMLS
• 2013-09-03 Listed $189,900 CBRMLS
• 1972-06-01 Sold (Public Records) $29,900 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,827 · -4.9% YoY. Source: county tax records.