506 E Gorgas St · Louisville, OH 44643

$125,000

3 bd · 2.0 ba · 1,239 sqft · SingleFamily public records · 16 Days on market

Built 1890 6,952 sqft lot Est $196k · 36% under

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Why this score? — see what drove the C 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 +11.8/30.0
• Appreciation +10.0/10.0
• Schools +5.9/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for a move in ready home, look no further- this is your new home! As soon as you walk into this century home you will be amazed with all the incredible updates! Exterior of the home has been re-painted, front and rear roofs have been replaced, new flooring on covered porch. Inside of home has been re-painted, all new flooring, brand new kitchen with granite countertops, Victorian style ceiling and recessed lighting! New mud room with first floor laundry hook ups, new bathroom with walk-in shower. Upstairs has 3 bedrooms, master bedroom with double closet and shiplap wall. Full bathroom has a tub/shower combo and brand new subway tile surround. Outside is a fully fenced in back yard that will be perfect for playing catch, dogs to run and room to plant a garden! Don't miss out on this home! Schedule your private showing today! Print out the info sheet for all the updates this home has to offer.

Key facts

• 1st floor laundry
• Updated mechanics
• 6,952 sq ft lot

Tags

• WALKING DISTANCE TO PARKS
• WALKING DISTANCE TO SCHOOLS
• FULL BATH ON MAIN LEVEL
• FULL BATH ON 2ND LEVEL
• 1ST FLOOR LAUNDRY
• UPDATED MECHANICS

Property features AI

Finance

• Other: Lot size about 0.1596 acres
• Financial info: Tax information provided
• HOA & community: HOA details not provided

Exterior

• Parking: Driveway
• Security: Security details not provided
• Utilities: Public water; Public sewer; Public utility connections
• Home design: 2-story home; Faces north; Above-grade finished area approx. 1,239
• Construction: Metal roof; Wood siding construction; Year built per public records
• Exterior features: Enclosed porch; Patio; Porch; Shed(s)

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Full unfinished basement; 7 total rooms
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-34 ($-403/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (17.7% below list).
• Recommended offer: $103k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.4% in Louisville — 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 79/100 on livability (#142 in OH, #2,205 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Louisville City (suburban): math 67% / reading 70% proficiency, ranked #162 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 30 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,932 (17.7% 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. Built in 1890 — 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. 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?
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: 0.82% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $195,762
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Superior St	0.27mi	3/2.5	1,251 (+1%)	2mo	$206,600	$165	82
107 E Broad St	0.17mi	2/2.5 (-1)	1,215 (-2%)	6mo	$224,000	$184	76
319 Superior St	0.23mi	3/1.5	1,368 (+10%)	2mo	$212,000	$155	68
1010 Washington Ave	0.30mi	3/1.0	1,152 (-7%)	3mo	$182,500	$158	68
520 S Silver St	0.22mi	3/1.0	1,352 (+9%)	7mo	$210,000	$155	65
509 E Broad St	0.06mi	2/1.0 (-1)	1,092 (-12%)	4mo	$123,600	$113	65
1413 Washington Blvd	0.54mi	3/1.0	1,256 (+1%)	8mo	$195,000	$155	62
904 High St	0.25mi	3/2.0	1,053 (-15%)	8mo	$215,000	$204	57
1445 Washington Blvd	0.60mi	3/2.0	1,170 (-6%)	8mo	$168,000	$144	56
641 S Nickelplate St	0.33mi	3/1.5	1,406 (+14%)	6mo	$194,000	$138	55
1442 Monter Ave	0.51mi	3/1.5	1,104 (-11%)	3mo	$215,000	$195	54
1016 Parkview Dr	0.39mi	4/2.0 (+1)	1,376 (+11%)	8mo	$261,500	$190	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.88×
• Total profit: $65,945
• Equity at exit: $112,610

10-year hold

• IRR: 20.9%
• Equity multiple: 6.60×
• Total profit: $195,888
• Equity at exit: $242,848

Cash invested: $35,000 (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 44643

• Home prices YoY: 8.3%
• Active inventory: 30
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$656
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-34

Break-even live

Break-even rent $1,072

Max offer price $119,068

Occupancy floor 98%

Sensitivity live

Price	-10% $37	-5% $2	+0% $-34	+5% $-69	+10% $-104
Rent	-10% $-115	-5% $-74	+0% $-34	+5% $7	+10% $48
Rate	-1.0pp $29	-0.5pp $-2	base $-34	+0.5pp $-66	+1.0pp $-99

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 S Marion Ave Louisville, OH	2.0	1.5	1056	$1,200	$1.14	44d	1	0.62mi
519 Taff Cir Louisville, OH	2.0	1.0	768	$895	$1.17	44d	1	0.69mi
1332 N Chapel St Unit 4 Louisville, OH	2.0	1.0	800	$875	$1.09	44d	1	0.92mi
1424 N Chapel St Unit 12 Louisville, OH	2.0	1.5	1000	$1,050	$1.05	44d	1	1.04mi
1424 N Chapel St Unit 2 Louisville, OH	2.0	1.5	1000	$1,000	$1.00	44d	1	1.04mi

Listing history 13 events

1. 2026-06-18
   days on market $125,000 Active 16 DOM
2. 2026-06-17
   days on market $125,000 Active 15 DOM
3. 2026-06-16
   days on market $125,000 Active 14 DOM
4. 2026-06-15
   days on market $125,000 Active 13 DOM
5. 2026-06-14
   days on market $125,000 Active 11 DOM
6. 2026-06-13
   days on market $125,000 Active 10 DOM
7. 2026-06-10
   days on market $125,000 Active 8 DOM
8. 2026-06-09
   days on market $125,000 Active 7 DOM
9. 2026-06-08
   days on market $125,000 Active 6 DOM
10. 2026-06-07
    days on market $125,000 Active 5 DOM
11. 2026-06-05
    days on market $125,000 Active 2 DOM
12. 2026-06-03
    remarks 451-char remark
13. 2026-06-03
    listed $125,000 Active 1 DOM

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $1,810 · $151/mo
• Expected delta: +$140/yr (+$12/mo · 8.4%)

ⓘ 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 ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,352
• − Mortgage interest: −$7,002
• − Property taxes: −$1,670
• − Insurance: −$625
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$3,636
• Taxable loss: −$2,558
• Est. tax savings @ 24.0%: +$614
• After-tax cash flow: $211/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: Louisville City
• NCES district ID: 3904987
• Math proficiency: 67% ▼ -11.00%
• Reading proficiency: 70% ▼ -4.00%
• Median HH income: $54,455
• Composite: 58.54/100
• National rank: #992
• State rank: #162 of 656 in OH

Livability — Louisville

• Score: 79/100
• State rank: #142
• US rank: #2205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisville, OH
• County: Carroll · 27,595 people
• City population: 20,031
• Metro: Canton-Massillon, OH
• Population (ZIP): 3,666
• Household income: $62,981
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 26.3

Population outlook (Stark County) Hauer SSP2

• Today (2025): 373,708 people
• By 2030: 371,245 · -0.7%
• By 2040: 361,331 · -3.3%
• By 2050: 345,290 · -7.6%
• By 2075: 302,669 · -19.0%
• By 2100: 238,870 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Italian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Stark

• 2024 margin: Strong R (+21.9) · D 38.6% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.5pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.5 2016: R+17.4 2012: R+0.4 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.78%
• Current HPI: 256.734
• 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

+150.5% since first listed

19 events — show timeline

• 2026-06-01 Listed $125,000 MLSNOW
• 2019-07-19 Sold (Public Records) $99,900 Public Records
• 2019-07-19 Sold (MLS) $99,900 MLSNOW
• 2019-07-09 Pending — MLSNOW
• 2019-06-17 Contingent — MLSNOW
• 2019-06-14 Relisted — MLSNOW
• 2019-06-14 Price Changed $99,900 MLSNOW
• 2019-06-02 Contingent — MLSNOW
• 2019-05-21 Price Changed $109,900 MLSNOW
• 2019-04-23 Relisted — MLSNOW
• 2019-04-23 Pending — MLSNOW
• 2019-04-14 Contingent — MLSNOW
• 2019-04-10 Listed $114,900 MLSNOW
• 2018-01-15 Sold (MLS) $36,500 MLSNOW
• 2018-01-03 Pending — MLSNOW
• 2017-12-26 Relisted — MLSNOW
• 2017-11-17 Pending — MLSNOW
• 2017-10-26 Price Changed $39,900 MLSNOW
• 2017-09-25 Listed $49,900 MLSNOW

Property tax history

+16.0%/yr

Latest (2024): $1,670 · +110.4% YoY. Source: county tax records.