1024 W Pleasant St · Springfield, OH 45506

$65,000

3 bd · 1.0 ba · 1,179 sqft · SingleFamily public records · 56 Days on market

Built 1900 6,534 sqft lot $55/sqft · 22% below area Est $84k · 22% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

This is the perfect first time buyers home! We are in the process of a clean out as well as a mini renovation. The rest is up to you and your personal tastes. You will surly fall in love with this home once we finish making it a blank canvas for you to add your own touches to. ALL PHOTOS ARE VIRTUAL.

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $809 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.2% vs local median 4.8% 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.
• Market conditions: 45 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $1,593/mo this rent would consume 45% of the median local household income ($42k/yr) (locally 684% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $45k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $65k implies a 70% 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 $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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: 2.45% ✓
• Cap rate: 21.23%
• Cash-on-cash: 53.34%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

• ARV (median comp): $83,645
• List price: $65,000
• Delta: -22.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1235 W Jefferson St	0.21mi	3/1.5	1,176 (-0%)	11mo	$130,000	$111	78
1207 W Pleasant St	0.12mi	2/1.0 (-1)	1,328 (+13%)	4mo	$134,900	$102	65
1212 W Pleasant St	0.12mi	4/2.0 (+1)	1,300 (+10%)	6mo	$164,000	$126	63
1701 W Jefferson St	0.55mi	2/1.0 (-1)	1,230 (+4%)	1mo	$115,000	$93	62
1530 W Main St	0.57mi	3/2.0	1,182 (+0%)	10mo	$55,000	$47	60
1504 W High St	0.48mi	2/2.0 (-1)	1,120 (-5%)	3mo	$61,000	$54	58
134 S Light St	0.38mi	3/1.0	1,053 (-11%)	9mo	$126,500	$120	57
908 Cedar St	0.66mi	3/1.0	1,255 (+6%)	10mo	$60,000	$48	50
306 N Bechtle Ave	0.71mi	3/1.0	1,288 (+9%)	2mo	$169,900	$132	50
329 Fair St	0.63mi	2/1.0 (-1)	1,252 (+6%)	7mo	$97,000	$77	49
770 W State St	0.60mi	3/1.5	1,328 (+13%)	2mo	$105,000	$79	47
14 Seever St	0.61mi	2/1.0 (-1)	1,100 (-7%)	10mo	$108,500	$99	46

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: 51.4%
• Equity multiple: 3.25×
• Total profit: $41,014
• Equity at exit: $9,692

10-year hold

• IRR: 56.8%
• Equity multiple: 6.61×
• Total profit: $102,157
• Equity at exit: $5,620

Cash invested: $18,200 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $809

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 44%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	11d	1	0.45mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	11d	1	0.45mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	11d	1	0.48mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	23d	1	0.51mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	43d	1	0.60mi
545 W Grand Ave Springfield, OH	4.0	2.0	1456	$1,595	$1.10	3d	1	0.61mi
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	2d	1	0.71mi
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	2d	1	0.81mi
1452 S Wittenberg Ave Springfield, OH	2.0	1.0	937	$1,010	$1.08	1d	1	1.06mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	19d	1	1.12mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	21d	1	1.25mi
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	23d	1	1.47mi

Listing history 24 events

1. 2026-06-19
   days on market $65,000 Active 56 DOM
2. 2026-06-18
   days on market $65,000 Active 55 DOM
3. 2026-06-17
   days on market $65,000 Active 54 DOM
4. 2026-06-16
   days on market $65,000 Active 53 DOM
5. 2026-06-15
   days on market $65,000 Active 52 DOM
6. 2026-06-14
   days on market $65,000 Active 50 DOM
7. 2026-06-12
   days on market $65,000 Active 49 DOM
8. 2026-06-09
   pricedays on market $65,000 Active 46 DOM
9. 2026-06-08
   days on market $85,000 Active 45 DOM
10. 2026-06-07
    pricedays on market $85,000 Active 44 DOM
11. 2026-06-05
    days on market $95,000 Active 41 DOM
12. 2026-06-02
    days on market $95,000 Active 39 DOM
13. 2026-06-01
    days on market $95,000 Active 38 DOM
14. 2026-05-31
    days on market $95,000 Active 37 DOM
15. 2026-05-30
    days on market $95,000 Active 36 DOM
16. 2026-05-16
    price $95,000 302-char remark

    Show marketing remark (302 chars)

    This is the perfect first time buyers home! We are in the process of a clean out as well as a mini renovation. The rest is up to you and your personal tastes. You will surly fall in love with this home once we finish making it a blank canvas for you to add your own touches to. ALL PHOTOS ARE VIRTUAL.

17. 2026-05-07
    price $100,000 302-char remark

    Show marketing remark (302 chars)

    This is the perfect first time buyers home! We are in the process of a clean out as well as a mini renovation. The rest is up to you and your personal tastes. You will surly fall in love with this home once we finish making it a blank canvas for you to add your own touches to. ALL PHOTOS ARE VIRTUAL.

18. 2026-04-24
    listed $110,000 Active 302-char remark

    Show marketing remark (302 chars)

    This is the perfect first time buyers home! We are in the process of a clean out as well as a mini renovation. The rest is up to you and your personal tastes. You will surly fall in love with this home once we finish making it a blank canvas for you to add your own touches to. ALL PHOTOS ARE VIRTUAL.

19. 2026-04-16
    historical $110,000 302-char remark

    Show marketing remark (302 chars)

    This is the perfect first time buyers home! We are in the process of a clean out as well as a mini renovation. The rest is up to you and your personal tastes. You will surly fall in love with this home once we finish making it a blank canvas for you to add your own touches to. ALL PHOTOS ARE VIRTUAL.

20. 2025-08-31
    historical
21. 2025-05-02
    listed $180,000 Active
22. 2025-04-23
    historical
23. 1998-02-23
    soldstatus $38,200
24. 1987-12-10
    soldstatus $26,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,111
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$1,891
• Taxable income: $9,222
• Est. tax owed @ 24.0%: −$2,213
• After-tax cash flow: $7,494/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): 13,435
• Household income: $42,104
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 684.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -46.97%
• Current HPI: 286.2883
• 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

+265.4% since first listed

9 events — show timeline

• 2026-05-16 Price Changed $95,000 CBRMLS
• 2026-05-07 Price Changed $100,000 CBRMLS
• 2026-04-24 Listed $110,000 CBRMLS
• 2026-04-16 Coming Soon $110,000 CBRMLS
• 2025-08-31 Listing Removed — CBRMLS
• 2025-05-02 Listed $180,000 CBRMLS
• 2025-04-23 Coming Soon — CBRMLS
• 1998-02-23 Sold (Public Records) $38,200 Public Records
• 1987-12-10 Sold (Public Records) $26,000 Public Records

Property tax history

+43.5%/yr

Latest (2025): $6,522 · +24.6% YoY. Source: county tax records.