137 Allen Ave · Findlay, OH 45840

$179,900

3 bd · 1.0 ba · 1,624 sqft · SingleFamily public records · 42 Days on market

Built 1900 10,049 sqft lot Est $203k · 11% under

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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 +20.3/30.0
• ARV discount +12.6/15.0
• DSCR +6.4/10.0
• Schools +4.7/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sunny windowed front porch to enjoy. Older home is in very nice condition. Updated utilities and new roof. 4 bedrooms, walking distance to University of Findlay, shopping and restaurants. Beautiful new hickory kitchen cabinets. There is a large storage room beside the garage that could very easily be used as a work-out rm. Fenced Yard for kiddos and or pets. Hope you enjoy viewing this very nice property. REALTOR. Com has this property listed as a Foreclosure it has never been a foreclosure.

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• HOA & community: Curbs; Street lights

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces; Total parking for 4 vehicles; Alley access; Additional parking; Gravel and off-street parking; On-site storage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 200+ amp electric service; Natural gas connected; Electricity connected; Cable available; Fiber and WiFi available; Internet available
• Home design: Single-family residence (house); Two levels / 2 stories; No attached units or common walls; Green energy efficient windows
• Construction: Aluminum siding and stone exterior; Asphalt roof; Combination foundation with crawl space; Year built per public records
• Exterior features: Awning(s); Storage; Private entrance; Enclosed front porch; Front porch; Chain link full fencing; Level lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: Upper-level bedrooms (three bedrooms on upper level); Main-level bedroom (one bedroom on main level)
• Flooring: Carpet; Hardwood; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Storage; Ceiling fans; Drop ceilings; Double-pane windows with storm windows and screens; Window coverings; Storm door(s); 8 total rooms; Refinished hardwood in one bedroom; Interior entry, partial unfinished basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry on main level; Accessible utilities or laundry; Water heater included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $230 ($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 $172k (4.1% below list).
• Recommended offer: $172k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 30% 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 $5k 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 42 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 $77k; list at $180k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,476 (4.1% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 0.96% ✗
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $203,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Allen Ave	0.00mi	4/2.0 (+1)	1,624 (0%)	1mo	$181,500	$112	90
115 George St	0.18mi	4/3.0 (+1)	1,597 (-2%)	5mo	$150,000	$94	72
1934 Geffs Ave	0.53mi	4/1.5 (+1)	1,643 (+1%)	0mo	$213,500	$130	66
142 Clifton Ave	0.42mi	3/1.5	1,494 (-8%)	1mo	$156,277	$105	64
217 Prentiss Ave	0.51mi	2/2.0 (-1)	1,588 (-2%)	2mo	$260,000	$164	62
533 Hull Ave	0.50mi	3/2.0	1,516 (-7%)	1mo	$189,900	$125	60
315 W Melrose Ave	0.74mi	3/1.0	1,542 (-5%)	2mo	$204,500	$133	56
224 Defiance Ave	0.61mi	4/2.0 (+1)	1,716 (+6%)	4mo	$199,900	$116	50
421 Clifton Ave	0.57mi	3/1.5	1,820 (+12%)	2mo	$210,000	$115	50
1908 Gayle Ln	0.66mi	4/1.5 (+1)	1,536 (-5%)	5mo	$272,000	$177	49
1010 Brenda Ct	0.70mi	3/1.0	1,476 (-9%)	5mo	$180,000	$122	48
2215 Beecher St	0.74mi	3/2.0	1,383 (-15%)	1mo	$254,000	$184	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 · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-9,760
• Equity at exit: $26,824

10-year hold

• IRR: 7.3%
• Equity multiple: 1.61×
• Total profit: $30,909
• Equity at exit: $15,554

Cash invested: $50,372 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,725 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $230

Break-even live

Break-even rent $1,433

Max offer price $179,900

Occupancy floor 82%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 South St Findlay, OH	3.0	1.0	1351	$1,700	$1.26	43d	1	1.45mi

Listing history 21 events

1. 2026-05-30
   statusdays on market $179,900 Pending 42 DOM
2. 2026-04-27
   historical Contingent
3. 2026-04-18
   listed $179,900 Active
4. 2026-04-14
   historical $179,900
5. 2026-03-18
   historical $1,550
6. 2026-02-10
   price $1,550
7. 2026-01-01
   listed $1,650
8. 2025-12-29
   historical
9. 2025-12-08
   listed $149,900 Active
10. 2015-01-20
    soldstatus $77,000
11. 2014-07-21
    historical
12. 2014-07-21
    historical
13. 2013-09-23
    listed $91,500
14. 2013-09-23
    listed $91,500
15. 2012-06-18
    soldstatus $85,000
16. 2012-06-14
    soldstatus $85,000
17. 2012-06-14
    soldstatus $85,000
18. 2012-04-11
    listed $85,000
19. 2012-04-11
    listed $89,900
20. 2004-09-21
    soldstatus $87,000
21. 2003-09-25
    soldstatus $76,800

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $2,087 · $174/mo
• Expected delta: +$719/yr (+$60/mo · 52.5%)

ⓘ 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: $20,697
• − Mortgage interest: −$10,077
• − Property taxes: −$1,368
• − Insurance: −$900
• − Repairs & maintenance: −$1,656
• − Management: −$1,656
• − Depreciation: −$5,233
• Taxable loss: −$193
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $2,808/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

+134.2% since first listed

20 events — show timeline

• 2026-04-27 Contingent — NORIS
• 2026-04-18 Listed $179,900 NORIS
• 2026-04-14 Coming Soon $179,900 NORIS
• 2026-03-18 Rental Removed $1,550 APPFOLIO
• 2026-02-10 Price Changed $1,550 APPFOLIO
• 2026-01-01 Listed for Rent $1,650 APPFOLIO
• 2025-12-29 Listing Removed — NORIS
• 2025-12-08 Listed $149,900 NORIS
• 2015-01-20 Sold (Public Records) $77,000 Public Records
• 2014-07-21 Listing Removed — NORIS
• 2014-07-21 Listing Removed — NORIS
• 2013-09-23 Listed $91,500 NORIS
• 2013-09-23 Listed $91,500 NORIS
• 2012-06-18 Sold (Public Records) $85,000 Public Records
• 2012-06-14 Sold (MLS) $85,000 NORIS
• 2012-06-14 Sold (MLS) $85,000 NORIS
• 2012-04-11 Listed $89,900 NORIS
• 2012-04-11 Listed $85,000 NORIS
• 2004-09-21 Sold (Public Records) $87,000 Public Records
• 2003-09-25 Sold (Public Records) $76,800 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,368 · -6.6% YoY. Source: county tax records.