259 E 3rd St · Ashland, OH 44805

$89,000

3 bd · 1.0 ba · 1,590 sqft · SingleFamily public records · 41 Days on market

Built 1901 ↓ 11% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

Key facts

• Walk up attic
• Street parking
• Hardwood floors

Tags

• HARDWOOD FLOORS
• WALK UP ATTIC
• FENCE REAR YARD
• STREET PARKING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Vinyl siding; Composition roof
• Exterior features: Fenced yard; Level lot

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Electric water heater; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $57 ($684/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 3.8% in Ashland — 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 (#373 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities D-, commute F.
• Ashland City (town): math 70% / reading 69% proficiency, ranked #165 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 122 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 61 units permitted in Ashland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Ashland County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $17k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.56% ✓
• Cap rate: 13.27%
• Cash-on-cash: 24.92%
• DSCR: 2.11
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $192,390
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
347 East 4th St	0.14mi	3/1.5	1,442 (-9%)	5mo	$100,000	$69	71
113 E Liberty St	0.35mi	3/2.0	1,660 (+4%)	4mo	$65,000	$39	69
827 Orange St	0.45mi	3/1.5	1,664 (+5%)	6mo	$231,900	$139	65
224 Freer Ct	0.54mi	3/1.0	1,548 (-3%)	8mo	$220,000	$142	63
716 Ohio 302	0.62mi	3/1.0	1,534 (-4%)	2mo	$75,000	$49	63
232 High St	0.66mi	3/2.0	1,594 (+0%)	6mo	$182,500	$114	60
208 High St	0.63mi	3/2.0	1,528 (-4%)	6mo	$185,000	$121	55
416 Diamond St	0.38mi	3/2.0	1,773 (+12%)	6mo	$229,000	$129	54
518 Cherry Ave	0.49mi	3/2.0	1,439 (-10%)	5mo	$183,700	$128	53
145 College Ave	0.57mi	4/2.5 (+1)	1,516 (-5%)	6mo	$172,500	$114	50
47 Samaritan Ave	0.73mi	3/1.5	1,681 (+6%)	8mo	$230,000	$137	48
1115 Cottage St	0.70mi	2/2.0 (-1)	1,522 (-4%)	8mo	$112,500	$74	45

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 · 7.07% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.82×
• Total profit: $-4,598
• Equity at exit: $13,270

10-year hold

• IRR: 11.2%
• Equity multiple: 2.13×
• Total profit: $28,191
• Equity at exit: $7,695

Cash invested: $24,920 (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 44805

• Rents YoY: 7.1%
• Active inventory: 122
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,386 high
• Mortgage (P&I): −$467
• Tax from tax record: −$74 /mo · $888/yr
• Insurance: −$37
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $57

Break-even live

Break-even rent $1,314

Max offer price $89,000

Occupancy floor 91%

Sensitivity live

Price	-10% $107	-5% $82	+0% $57	+5% $32	+10% $7
Rent	-10% $-52	-5% $2	+0% $57	+5% $112	+10% $167
Rate	-1.0pp $102	-0.5pp $80	base $57	+0.5pp $34	+1.0pp $11

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Birch St Ashland, OH	3.0	1.0	1116	$1,175	$1.05	44d	1	0.38mi
606 Edgehill Ave Ashland, OH	4.0	2.0	1858	$1,850	$1.00	44d	1	0.49mi
200 Race St Unit 200 Ashland, OH	2.0	1.0	1532	$735	$0.48	44d	1	0.55mi
510 Broad St Ashland, OH	3.0	1.0	1681	$1,650	$0.98	45d	1	0.65mi
332 Sloan Ave Ashland, OH	3.0	1.5	1120	$1,300	$1.16	44d	1	0.99mi
1436 Eagle Way Ashland, OH	1.0–3.0	1.0–2.0	1017	$1,295	$1.27	44d	1	1.47mi

Listing history 12 events

1. 2026-05-20
   status Pending 381-char remark

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

2. 2026-05-20
   status Pending

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

3. 2026-05-20
   status Active 381-char remark

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

4. 2026-05-19
   status Active
5. 2026-04-24
   status Pending 381-char remark

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

6. 2026-04-24
   status Pending

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

7. 2026-04-15
   price $89,000

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

8. 2026-04-15
   price $89,000 381-char remark

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

9. 2026-03-16
   listed $106,000 Active 381-char remark

   Show marketing remark (381 chars)

   Hud Case # 412-974385 This property was built in 1901. This home features 3 bedrooms upstairs with a potential fourth bedroom that is currently being used as a second-floor laundry room, 1.5 bathrooms, with 1,590 sq. ft. of living space. Interior includes hardwood floors, walk up attic for extra storage or could be turned into extra living space. Fence rear yard. Street Parking.

10. 2026-03-15
    listed $106,000 Active
11. 2021-03-31
    soldstatus $94,000 693-char remark

    Show marketing remark (693 chars)

    Completely renovated & ready for a new owner! This two story home has the character & built-ins of a century home with tasteful updates including new carpet in October of 2020 and freshly painted a neutral gray & white throughout. Three bedrooms are upstairs with a potential fourth that is currently being used as a second floor laundry room. Walk-up attic provides great storage or has potential for extra living space! The home also has a private, fenced back yard w/ storage shed & a beautiful front porch that would be the perfect home for a swing or rockers! This is a VIP listing:sellers have provided a general home inspection and are offering a home warranty.

12. 2020-11-04
    listed $99,500 693-char remark

    Show marketing remark (693 chars)

    Completely renovated & ready for a new owner! This two story home has the character & built-ins of a century home with tasteful updates including new carpet in October of 2020 and freshly painted a neutral gray & white throughout. Three bedrooms are upstairs with a potential fourth that is currently being used as a second floor laundry room. Walk-up attic provides great storage or has potential for extra living space! The home also has a private, fenced back yard w/ storage shed & a beautiful front porch that would be the perfect home for a swing or rockers! This is a VIP listing:sellers have provided a general home inspection and are offering a home warranty.

ⓘ 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: $888 · $74/mo
• Projected year-2 tax: $1,138 · $95/mo
• Expected delta: +$250/yr (+$21/mo · 28.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $16,637
• − Mortgage interest: −$4,985
• − Property taxes: −$888
• − Insurance: −$5,970
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$2,589
• Taxable loss: −$457
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $794/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: Ashland City
• NCES district ID: 3904350
• Math proficiency: 70% ▼ -2.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $43,164
• Composite: 58.31/100
• National rank: #1015
• State rank: #165 of 656 in OH

Livability — Ashland

• Score: 72/100
• State rank: #373
• US rank: #6095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, OH
• County: Ashland County · 30,805 people
• City population: 30,805
• Metro: Ashland, OH
• Population (ZIP): 30,805
• Household income: $68,299
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 706.0

Population outlook (Ashland County) Hauer SSP2

• Today (2025): 52,732 people
• By 2030: 51,728 · -1.9%
• By 2040: 48,956 · -7.2%
• By 2050: 46,070 · -12.6%
• By 2075: 38,945 · -26.1%
• By 2100: 30,883 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Ashland

• 2024 margin: Solid R (+50.0) · D 24.5% · R 74.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -23.3pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.7 2016: R+47.8 2012: R+30.0 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.79%
• Current HPI: 201.96
• Rent YoY: ▲ 7.07%
• Metro: Ashland, 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

-10.6% since first listed

12 events — show timeline

• 2026-05-20 Pending — ABOR
• 2026-05-20 Pending — MARMLS
• 2026-05-20 Relisted — ABOR
• 2026-05-19 Relisted — MARMLS
• 2026-04-24 Pending — ABOR
• 2026-04-24 Pending — MARMLS
• 2026-04-15 Price Changed $89,000 MARMLS
• 2026-04-15 Price Changed $89,000 ABOR
• 2026-03-16 Listed $106,000 ABOR
• 2026-03-15 Listed $106,000 MARMLS
• 2021-03-31 Sold (MLS) $94,000 ABOR
• 2020-11-04 Listed $99,500 ABOR

Property tax history

+1.9%/yr

Latest (2025): $888 · +0.0% YoY. Source: county tax records.