1198 Woodbine Ave · Marion, OH 43302

$70,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 16 Days on market

Built 1956 6,534 sqft lot Est $118k · 41% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Home having well and septic. New well pump and pressure tank. Also new hot water heater. This home has had updates to make it livable again. Most of the vinyl siding has been replaced. Large garage with new garage door , garage having a lot of storage space. Rear porch and having a storage shed for lawnmower. Home is waiting for you finishing touches.

Key facts

• New well pump
• Large garage
• New hot water heater

Tags

• NEW WELL PUMP
• NEW HOT WATER HEATER
• VINYL SIDING REPLACED
• LARGE GARAGE
• NEW GARAGE DOOR
• STORAGE SPACE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private sewer; Well water
• Home design: Single-family home; One story; No shared/common walls; Built in 1956
• Construction: Slab foundation
• Exterior features: Patio; Fenced yard

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Laminate flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Living area about 1,340 (per listing)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 6.9% in Marion — 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 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Elgin Local (rural): math 47% / reading 52% proficiency, ranked #444 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 210 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $40k; list at $70k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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. 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: 1.57% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.30%
• DSCR: 1.95
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $118,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
850 Oak Grove Ave	0.57mi	2/1.0	852 (+1%)	7mo	$50,000	$59	65
512 Swiss Dr	0.60mi	3/1.0 (+1)	800 (-5%)	1mo	$93,450	$117	58
804 Vancouver Dr	0.74mi	3/1.0 (+1)	864 (+3%)	2mo	$130,000	$150	54
507 Saint Gallen St	0.62mi	3/1.0 (+1)	800 (-5%)	5mo	$104,000	$130	54
950 Oak Grove Ave	0.45mi	2/1.0	960 (+14%)	3mo	$134,000	$140	52
982 Oak Grove Ave	0.43mi	3/1.0 (+1)	958 (+14%)	2mo	$150,000	$157	50
489 Swiss Dr	0.62mi	3/1.0 (+1)	800 (-5%)	11mo	$139,900	$175	49
383 Brentwood Dr	0.73mi	2/1.0	900 (+7%)	7mo	$188,000	$209	48
824 Oak Grove Ave	0.61mi	2/1.0	938 (+12%)	8mo	$145,000	$155	46
869 Woodrow Ave	0.49mi	2/1.0	960 (+14%)	13mo	$135,000	$141	43
981 Bellefontaine Ave	0.58mi	3/1.0 (+1)	950 (+13%)	6mo	$85,000	$89	41
550 Clinton St	0.54mi	3/1.0 (+1)	952 (+13%)	14mo	$110,000	$116	36

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: 13.9%
• Equity multiple: 1.55×
• Total profit: $10,859
• Equity at exit: $10,437

10-year hold

• IRR: 22.7%
• Equity multiple: 2.95×
• Total profit: $38,158
• Equity at exit: $6,052

Cash invested: $19,600 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 210
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$127 /mo · $1,518/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $348

Break-even live

Break-even rent $662

Max offer price $70,000

Occupancy floor 63%

Sensitivity live

Price	-10% $388	-5% $368	+0% $348	+5% $328	+10% $308
Rent	-10% $261	-5% $304	+0% $348	+5% $391	+10% $435
Rate	-1.0pp $383	-0.5pp $366	base $348	+0.5pp $330	+1.0pp $311

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $70,000 Active 16 DOM
2. 2026-06-18
   days on market $70,000 Active 15 DOM
3. 2026-06-17
   days on market $70,000 Active 14 DOM
4. 2026-06-16
   days on market $70,000 Active 13 DOM
5. 2026-06-15
   days on market $70,000 Active 12 DOM
6. 2026-06-14
   days on market $70,000 Active 10 DOM
7. 2026-06-12
   days on market $70,000 Active 9 DOM
8. 2026-06-09
   days on market $70,000 Active 6 DOM
9. 2026-06-08
   days on market $70,000 Active 5 DOM
10. 2026-06-07
    days on market $70,000 Active 4 DOM
11. 2026-06-03
    remarks 354-char remark
12. 2026-06-03
    listed $70,000 Active 1 DOM

ⓘ 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: $1,518 · $127/mo
• Projected year-2 tax: $1,518 · $127/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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,227
• − Mortgage interest: −$3,921
• − Property taxes: −$1,518
• − Insurance: −$350
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$2,036
• Taxable income: $3,284
• Est. tax owed @ 24.0%: −$788
• After-tax cash flow: $3,387/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: Elgin Local
• NCES district ID: 3904841
• Math proficiency: 47% ▼ -17.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $48,372
• Composite: 42.2/100
• National rank: #3288
• State rank: #444 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

+15.7% since first listed

11 events — show timeline

• 2026-06-03 Listed $70,000 CBRMLS
• 2021-06-02 Listing Removed — CBRMLS
• 2019-06-28 Listed $7,900 CBRMLS
• 2019-06-28 Listing Removed — CBRMLS
• 2018-11-28 Listed $7,900 CBRMLS
• 2013-10-15 Sold (Public Records) $39,500 Public Records
• 2012-12-14 Listing Removed — MLSNOW
• 2012-09-14 Listed $24,900 MLSNOW
• 2012-04-06 Sold (MLS) $7,775 CBRMLS
• 2011-10-03 Listed $15,592 CBRMLS
• 2005-10-17 Sold (Public Records) $60,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,518 · +0.0% YoY. Source: county tax records.