821 E Third St · Delphos, OH 45833

$85,000

3 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 75 Days on market

Built 1924 7,392 sqft lot Est $141k · 40% under ↓ 27% since listing

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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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Schools +6.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3 bedroom fixer upper with basement - Endless potential! Opportunity knocks with this 3 bedroom 1 bath home that's perfect for investors, DIY enthusiasts or anyone looking to add their personal touch. Situated on a spacious lot, this property features a full basement, offering additional space for storage or future living area potential. With good bones and solid structure, this home is ready for your vision. Whether you're looking to renovate and flip, rent it out, or create your dream starter home, the possibilities are endless. Bring your tools and creativity - this is the project you've been waiting for.

Key facts

• Full basement
• Spacious lot
• Endless potential

Tags

• FULL BASEMENT
• SPACIOUS LOT
• ENDLESS POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.1% in Delphos — 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 72/100 on livability (#378 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Delphos City (town): math 77% / reading 75% proficiency, ranked #91 of 656 in OH (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 16 active listings in the ZIP; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Allen County population projected at -14% 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 $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $31k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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 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: 1.24% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.18%
• DSCR: 1.68
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $140,716
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 E 3rd St	0.03mi	3/1.5	1,107 (-0%)	6mo	$139,000	$126	91
634 E 7th St. St	0.29mi	3/1.0	1,140 (+3%)	9mo	$145,000	$127	75
810 N Franklin St	0.51mi	3/1.0	1,111 (+0%)	5mo	$172,500	$155	72
714 Harmon St	0.48mi	3/1.0	1,104 (-0%)	14mo	$179,900	$163	65
629 N Main St	0.58mi	3/1.0	1,060 (-4%)	2mo	$169,650	$160	64
224 Monroe St	0.08mi	2/1.0 (-1)	960 (-13%)	9mo	$124,500	$130	62
310 S Pierce St	0.46mi	2/1.0 (-1)	1,067 (-4%)	7mo	$96,000	$90	61
620 Jackson St	0.34mi	2/1.0 (-1)	1,048 (-5%)	11mo	$110,000	$105	60
508 S Washington St	0.70mi	3/1.0	1,116 (+1%)	7mo	$33,000	$30	60
804 N Moening St	0.37mi	2/1.0 (-1)	1,194 (+8%)	8mo	$127,000	$106	58
504 S Franklin St	0.66mi	3/1.0	1,228 (+11%)	10mo	$210,000	$171	43
502 S Canal St	0.74mi	3/2.0	1,260 (+14%)	11mo	$140,000	$111	30

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: 5.8%
• Equity multiple: 1.23×
• Total profit: $5,381
• Equity at exit: $12,674

10-year hold

• IRR: 15.2%
• Equity multiple: 2.23×
• Total profit: $29,302
• Equity at exit: $7,349

Cash invested: $23,800 (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 45833

• Home prices YoY: -15.4%
• Active inventory: 16
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $301

Break-even live

Break-even rent $675

Max offer price $85,000

Occupancy floor 66%

Sensitivity live

Price	-10% $349	-5% $325	+0% $301	+5% $277	+10% $253
Rent	-10% $218	-5% $259	+0% $301	+5% $343	+10% $384
Rate	-1.0pp $344	-0.5pp $323	base $301	+0.5pp $279	+1.0pp $257

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-02
   days on market $85,000 Active 75 DOM
2. 2026-06-01
   status $85,000 Active 74 DOM
3. 2026-02-24
   status Pending
4. 2026-02-18
   price $85,000
5. 2026-01-27
   price $99,900
6. 2026-01-27
   status Active
7. 2026-01-27
   price $85,000
8. 2025-11-03
   price $99,900
9. 2025-10-24
   price $105,000
10. 2025-08-11
    status Active
11. 2025-07-23
    status Active Under Contract
12. 2025-07-17
    status Active
13. 2025-05-30
    listed $116,000 Active

ⓘ 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: $628 · $52/mo
• Projected year-2 tax: $977 · $81/mo
• Expected delta: +$349/yr (+$29/mo · 55.5%)

ⓘ 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 ≥101°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: $12,676
• − Mortgage interest: −$4,761
• − Property taxes: −$628
• − Insurance: −$425
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$2,473
• Taxable income: $2,361
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $3,046/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: Delphos City
• NCES district ID: 3904388
• Math proficiency: 77% ▼ -8.00%
• Reading proficiency: 75% ▼ -8.00%
• Median HH income: $49,400
• Composite: 64.3/100
• National rank: #557
• State rank: #91 of 656 in OH

Livability — Delphos

• Score: 72/100
• State rank: #378
• US rank: #6142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delphos, OH
• County: Van Wert · 34,605 people
• City population: 10,822
• Population (ZIP): 10,822
• Household income: $66,919
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 2.2

Population outlook (Allen County) Hauer SSP2

• Today (2025): 100,321 people
• By 2030: 97,693 · -2.6%
• By 2040: 91,802 · -8.5%
• By 2050: 86,152 · -14.1%
• By 2075: 73,659 · -26.6%
• By 2100: 58,716 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Serbian 2% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+44.1) · D 27.5% · R 71.6%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+39.5 2016: R+38.2 2012: R+25.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.82%
• Current HPI: 218.1437
• 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

-26.7% since first listed

11 events — show timeline

• 2026-02-24 Pending — WCARE
• 2026-02-18 Price Changed $85,000 WCARE
• 2026-01-27 Price Changed $99,900 WCARE
• 2026-01-27 Relisted — WCARE
• 2026-01-27 Price Changed $85,000 WCARE
• 2025-11-03 Price Changed $99,900 WCARE
• 2025-10-24 Price Changed $105,000 WCARE
• 2025-08-11 Relisted — WCARE
• 2025-07-23 Relisted — WCARE
• 2025-07-17 Relisted — WCARE
• 2025-05-30 Listed $116,000 WCARE

Property tax history

+6.3%/yr

Latest (2025): $628 · -1.4% YoY. Source: county tax records.