302 Elliot Rd · Russells Point, OH 43348

$1

2 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 4 Days on market

Built 1951 3,484 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment property blocks from Indian Lake will be auctioned at 5pm on July 23rd. The 3 bedroom home has natural gas heat and central air. The metal roof is 2-3 years old. Current renter pays $550/month and is on a month to month lease.

Key facts

• Metal roof
• Natural gas heat
• Central air

Tags

• NATURAL GAS HEAT
• CENTRAL AIR
• METAL ROOF

Property features AI

Exterior

• Utilities: Public sewer; Natural gas connected; Sewer connected; Supplied water
• Home design: Single-family residential house; Built in 1951
• Construction: Block construction; Block foundation
• Exterior features: Lake-related waterfront; Residential lot (irregular shape, approximately 0.08 acres); Supplied water

Interior

• Kitchen: Kitchen (15 x 11); Electric water heater
• Bedrooms: Bedroom 1 (13 x 11); Bedroom 2 (14 x 10); Bedroom 3 (15 x 12)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic; 6 total rooms
• Laundry & utility: Basement with block and crawl space

🏷️ Possibly a rental listed for sale. The $1 price doesn't fit this home's estimated sale value (~$258,960) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $883 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 1059729.3% vs local median 2.7% in Russells Point — 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 60/100 on livability (#971 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 49 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 of value loss. Plan a longer hold.
• Logan County population projected at -15% 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 $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. Built in 1951 — 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 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?
4. 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?
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: 111786.00% ✓
• Cap rate: 1059729.28%
• Cash-on-cash: 3784724.95%
• DSCR: 168399.96
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $258,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 E Main St	0.20mi	2/1.0	1,316 (-1%)	10mo	$150,000	$114	81
131 Burkhart Ave	0.26mi	2/1.0	1,396 (+5%)	1mo	$160,000	$115	79
126 Holly Ln	0.11mi	3/1.0 (+1)	1,296 (-2%)	8mo	$179,000	$138	79
215 White Oaks Ct	0.29mi	3/1.5 (+1)	1,322 (-0%)	1mo	$280,000	$212	78
718 Center Ave	0.32mi	3/1.0 (+1)	1,378 (+4%)	11mo	$92,400	$67	65
224 Oakcrest Ct	0.36mi	3/1.5 (+1)	1,238 (-7%)	6mo	$256,500	$207	60
214 White Oaks Ct	0.31mi	3/2.0 (+1)	1,402 (+6%)	10mo	$251,000	$179	59
203 Oakcrest Ct	0.33mi	3/2.0 (+1)	1,196 (-10%)	4mo	$257,000	$215	56
113 Clermont Ave	0.24mi	3/2.0 (+1)	1,452 (+9%)	12mo	$170,000	$117	54
206 White Oaks Ct	0.31mi	3/2.0 (+1)	1,184 (-11%)	8mo	$264,000	$223	52
714 Miami Dr	0.32mi	3/2.0 (+1)	1,188 (-10%)	13mo	$232,000	$195	48
341 3rd St	0.64mi	3/2.0 (+1)	1,168 (-12%)	8mo	$238,000	$204	34

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: —
• Equity multiple: 200936.61×
• Total profit: $56,262
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 433876.80×
• Total profit: $121,485
• Equity at exit: $0

Cash invested: $0 (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 43348

• Home prices YoY: -29.2%
• Active inventory: 49

Monthly cashflow live

• Estimated rent: $1,118 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $883

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $883	-5% $883	+0% $883	+5% $883	+10% $883
Rent	-10% $795	-5% $839	+0% $883	+5% $927	+10% $971
Rate	-1.0pp $883	-0.5pp $883	base $883	+0.5pp $883	+1.0pp $883

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $1 Active 4 DOM
2. 2026-06-18
   days on market $1 Active 2 DOM
3. 2026-06-17
   remarks 237-char remark
4. 2026-06-17
   listed $1 Active 1 DOM

ⓘ 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 ≥99°F today · 18 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: $13,414
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − Depreciation: −$0
• Taxable income: $11,268
• Est. tax owed @ 24.0%: −$2,704
• After-tax cash flow: $7,893/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: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Russells Point, OH
• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.07%
• Current HPI: 261.3567
• 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

2 events — show timeline

• 2026-06-15 Listed $1 WRIST
• 1997-08-18 Sold (Public Records) $35,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,137 · +22.7% YoY. Source: county tax records.