503 E North Ave · Ada, OH 45810

$117,000

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 163 Days on market

Built 1954 10,846 sqft lot $103/sqft · 20% below area Est $147k · 20% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.5/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch home in Ada. Very cute home with three bedrooms and a den. Partially fenced yard and storage shed. HUD Case #413-768365 and IE . THIS PROPERTY IS SOLD AS-IS. The buyer selects the closing agent. Utilities must be in buyer's name for inspections. Keys will not be provided at closing (must be re-keyed by buyer). You are required to register on the sign-in sheet when viewing property.

Key facts

• Ranch home
• Storage shed
• 0.25 acre lot

Tags

• RANCH HOME
• PARTIALLY FENCED YARD
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $-17 ($-200/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (14.2% below list).
• Recommended offer: $100k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.3% in Ada — 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 80/100 on livability (#119 in OH, #1,750 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Ada Exempted Village (rural): math 65% / reading 70% proficiency, ranked #190 of 656 in OH (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 18 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $809 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hardin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 10y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,420 (14.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (median comp): $146,792
• List price: $117,000
• Delta: -20.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
424 Liberty St	0.15mi	3/1.0	1,200 (+5%)	12mo	$40,000	$33	74
212 N Simon St. St	0.35mi	3/2.0	1,196 (+5%)	6mo	$178,100	$149	67

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-20,006
• Equity at exit: $17,445

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-18,725
• Equity at exit: $10,116

Cash invested: $32,760 (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 45810

• Home prices YoY: -31.1%
• Active inventory: 23
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,004 medium
• Mortgage (P&I): −$614
• Tax from tax record: −$148 /mo · $1,772/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $-17

Break-even live

Break-even rent $1,025

Max offer price $114,050

Occupancy floor 97%

Sensitivity live

Price	-10% $50	-5% $16	+0% $-17	+5% $-50	+10% $-83
Rent	-10% $-96	-5% $-56	+0% $-17	+5% $23	+10% $63
Rate	-1.0pp $42	-0.5pp $13	base $-17	+0.5pp $-47	+1.0pp $-78

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   statusdays on market $117,000 Contingent 163 DOM
2. 2026-06-18
   days on market $117,000 Active 161 DOM
3. 2026-06-17
   days on market $117,000 Active 160 DOM
4. 2026-06-16
   days on market $117,000 Active 159 DOM
5. 2026-06-15
   days on market $117,000 Active 158 DOM
6. 2026-06-13
   days on market $117,000 Active 156 DOM
7. 2026-06-12
   statusdays on market $117,000 Active 155 DOM
8. 2026-06-09
   days on market $117,000 Contingent 152 DOM
9. 2026-06-08
   days on market $117,000 Contingent 151 DOM
10. 2026-06-07
    days on market $117,000 Contingent 150 DOM
11. 2026-06-07
    days on market $117,000 Contingent 149 DOM
12. 2026-06-04
    days on market $117,000 Contingent 146 DOM
13. 2026-06-02
    days on market $117,000 Contingent 145 DOM
14. 2026-06-01
    days on market $117,000 Contingent 144 DOM
15. 2026-05-31
    days on market $117,000 Contingent 143 DOM
16. 2026-05-12
    historical Contingent 390-char remark

    Show marketing remark (390 chars)

    Ranch home in Ada. Very cute home with three bedrooms and a den. Partially fenced yard and storage shed. HUD Case #413-768365 and IE . THIS PROPERTY IS SOLD AS-IS. The buyer selects the closing agent. Utilities must be in buyer's name for inspections. Keys will not be provided at closing (must be re-keyed by buyer). You are required to register on the sign-in sheet when viewing property.

17. 2026-04-28
    price $117,000 390-char remark

    Show marketing remark (390 chars)

    Ranch home in Ada. Very cute home with three bedrooms and a den. Partially fenced yard and storage shed. HUD Case #413-768365 and IE . THIS PROPERTY IS SOLD AS-IS. The buyer selects the closing agent. Utilities must be in buyer's name for inspections. Keys will not be provided at closing (must be re-keyed by buyer). You are required to register on the sign-in sheet when viewing property.

18. 2026-04-14
    status Active 390-char remark

    Show marketing remark (390 chars)

    Ranch home in Ada. Very cute home with three bedrooms and a den. Partially fenced yard and storage shed. HUD Case #413-768365 and IE . THIS PROPERTY IS SOLD AS-IS. The buyer selects the closing agent. Utilities must be in buyer's name for inspections. Keys will not be provided at closing (must be re-keyed by buyer). You are required to register on the sign-in sheet when viewing property.

19. 2026-02-20
    historical Contingent 390-char remark

    Show marketing remark (390 chars)

    Ranch home in Ada. Very cute home with three bedrooms and a den. Partially fenced yard and storage shed. HUD Case #413-768365 and IE . THIS PROPERTY IS SOLD AS-IS. The buyer selects the closing agent. Utilities must be in buyer's name for inspections. Keys will not be provided at closing (must be re-keyed by buyer). You are required to register on the sign-in sheet when viewing property.

20. 2026-01-08
    listed $130,000 Active 390-char remark

    Show marketing remark (390 chars)

    Ranch home in Ada. Very cute home with three bedrooms and a den. Partially fenced yard and storage shed. HUD Case #413-768365 and IE . THIS PROPERTY IS SOLD AS-IS. The buyer selects the closing agent. Utilities must be in buyer's name for inspections. Keys will not be provided at closing (must be re-keyed by buyer). You are required to register on the sign-in sheet when viewing property.

21. 2025-04-05
    historical
22. 2025-04-04
    status Active
23. 2025-02-13
    historical Contingent
24. 2025-02-05
    listed $160,000 Active
25. 2024-12-22
    historical
26. 2024-11-25
    historical Contingent Finance and Inspection
27. 2024-11-19
    price $159,999
28. 2024-11-16
    status Active
29. 2024-09-29
    historical Contingent Finance and Inspection
30. 2024-09-21
    price $165,000
31. 2024-09-05
    status Active
32. 2024-08-27
    status Pending
33. 2024-08-26
    historical Contingent Finance and Inspection
34. 2024-08-26
    status Active
35. 2024-07-27
    historical Contingent Finance and Inspection
36. 2024-07-20
    status Active
37. 2024-07-16
    historical Contingent Finance and Inspection
38. 2024-07-13
    listed $170,000 Active
39. 2024-06-13
    historical
40. 2022-06-07
    soldstatus $150,000
41. 2022-06-07
    listed $150,000
42. 2022-03-02
    soldstatus $150,000
43. 2022-02-07
    soldstatus $150,000 Closed
44. 2022-02-07
    soldstatus $150,000
45. 2022-01-05
    status Pending
46. 2022-01-05
    price $150,000
47. 2022-01-04
    listed $145,000 Active
48. 2022-01-04
    listed $145,000
49. 2019-03-22
    soldstatus $99,000
50. 2019-03-22
    soldstatus $99,000

ⓘ 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: $1,772 · $148/mo
• Projected year-2 tax: $1,799 · $150/mo
• Expected delta: +$26/yr (+$2/mo · 1.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $12,050
• − Mortgage interest: −$6,554
• − Property taxes: −$1,772
• − Insurance: −$585
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$3,404
• Taxable loss: −$2,193
• Est. tax savings @ 24.0%: +$526
• After-tax cash flow: $326/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: Ada Exempted Village
• NCES district ID: 3904518
• Math proficiency: 65% ▼ -10.00%
• Reading proficiency: 70% ▼ -5.00%
• Median HH income: $42,321
• Composite: 56.55/100
• National rank: #1149
• State rank: #190 of 656 in OH

Livability — Ada

• Score: 80/100
• State rank: #119
• US rank: #1750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ada, OH
• County: Hardin · 33,287 people
• Population (ZIP): 7,345
• Household income: $59,065
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 13.9

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 31,000 people
• By 2030: 30,031 · -3.1%
• By 2040: 27,500 · -11.3%
• By 2050: 25,265 · -18.5%
• By 2075: 20,485 · -33.9%
• By 2100: 16,031 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 7% Iranian 3% Lithuanian 3%
• Foreign-born: 3% · China, South Korea
• Languages at home: 95% English-only · Spanish 2% Chinese 1% Arabic 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+54.7) · D 22.2% · R 76.9%
• 2008→2024 swing: -33.8pp toward R · 2008: -20.9pp · 2024: -54.7pp
• All cycles: 2024: R+54.7 2020: R+52.0 2016: R+47.2 2012: R+23.5 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.51%
• Current HPI: 237.9299
• 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

+33.0% since first listed

41 events — show timeline

• 2026-05-12 Contingent — NORIS
• 2026-04-28 Price Changed $117,000 NORIS
• 2026-04-14 Relisted — NORIS
• 2026-02-20 Contingent — NORIS
• 2026-01-08 Listed $130,000 NORIS
• 2025-04-05 Listing Removed — CBRMLS
• 2025-04-04 Relisted — CBRMLS
• 2025-02-13 Contingent — CBRMLS
• 2025-02-05 Listed $160,000 CBRMLS
• 2024-12-22 Listing Removed — CBRMLS
• 2024-11-25 Contingent — CBRMLS
• 2024-11-19 Price Changed $159,999 CBRMLS
• 2024-11-16 Relisted — CBRMLS
• 2024-09-29 Contingent — CBRMLS
• 2024-09-21 Price Changed $165,000 CBRMLS
• 2024-09-05 Relisted — CBRMLS
• 2024-08-27 Pending — CBRMLS
• 2024-08-26 Contingent — CBRMLS
• 2024-08-26 Relisted — CBRMLS
• 2024-07-27 Contingent — CBRMLS
• 2024-07-20 Relisted — CBRMLS
• 2024-07-16 Contingent — CBRMLS
• 2024-07-13 Listed $170,000 CBRMLS
• 2024-06-13 Coming Soon — CBRMLS
• 2022-06-07 Listed $150,000 CBRMLS
• 2022-06-07 Sold (MLS) $150,000 CBRMLS
• 2022-03-02 Sold (Public Records) $150,000 Public Records
• 2022-02-07 Sold (MLS) $150,000 WCARE
• 2022-02-07 Sold (MLS) $150,000 NORIS
• 2022-01-05 Pending — NORIS
• 2022-01-05 Price Changed $150,000 NORIS
• 2022-01-04 Listed $145,000 WCARE
• 2022-01-04 Listed $145,000 NORIS
• 2019-03-22 Sold (Public Records) $99,000 Public Records
• 2019-03-22 Sold (MLS) $99,000 WCARE
• 2019-01-14 Listed $99,000 WCARE
• 2016-05-31 Sold (Public Records) $92,500 Public Records
• 2016-05-27 Sold (MLS) $92,500 WCARE
• 2016-03-23 Listed $92,500 WCARE
• 2012-06-29 Sold (Public Records) $87,000 Public Records
• 2007-08-17 Sold (Public Records) $88,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,772 · +0.7% YoY. Source: county tax records.