602 Decatur St · Marion, OH 43302

$100,000

3 bd · 1.0 ba · 1,242 sqft · SingleFamily public records · 48 Days on market

Built 1950 $81/sqft · 8% above area Est $93k · 8% over

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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).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +3.9/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable and nice home? This is it!! Move right in and enjoy. This home has been completely updated and will qualify for all types of financing. This home offers a HUGE living room with open floor plan to the equally as large kitchen. Brand new kitchen cabinets, counters, sink and all. .. everything has been done for you. Just a few of the many updates include: New bath, roof, windows, electrical, flooring, paint, doors and more!

Key facts

• 2 garage spots
• Built 1950
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 6.8% in Marion — 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 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 208 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected at -18% 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $42k; list at $100k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1950 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
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: 1.40% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (median comp): $92,660
• List price: $100,000
• Delta: 7.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 Polk St	0.13mi	3/1.0	1,087 (-12%)	1mo	$39,000	$36	72
501 Roberts Ave	0.28mi	3/2.0	1,344 (+8%)	3mo	$167,000	$124	67
749 Richmond Ave	0.36mi	3/1.5	1,345 (+8%)	4mo	$179,900	$134	64
464 Ballentine Ave	0.54mi	2/1.0 (-1)	1,280 (+3%)	5mo	$135,000	$105	61
291 Patten St	0.54mi	3/1.0	1,160 (-7%)	6mo	$152,000	$131	59
279 E Fairground St	0.56mi	2/1.0 (-1)	1,168 (-6%)	2mo	$163,000	$140	58
194 Chicago Ave	0.72mi	3/1.5	1,287 (+4%)	1mo	$197,000	$153	57
244 N Seffner Ave	0.52mi	3/1.5	1,328 (+7%)	6mo	$199,900	$151	57
174 Barnhart St	0.70mi	3/1.5	1,296 (+4%)	1mo	$189,000	$146	57
132 Dix Ave	0.66mi	3/1.0	1,152 (-7%)	6mo	$80,000	$69	52
234 Chicago Ave	0.67mi	3/2.0	1,164 (-6%)	6mo	$180,000	$155	49
240 Chicago Ave	0.67mi	3/2.0	1,090 (-12%)	5mo	$169,000	$155	40

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: 10.5%
• Equity multiple: 1.41×
• Total profit: $11,608
• Equity at exit: $14,910

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $45,945
• Equity at exit: $8,646

Cash invested: $28,000 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 208
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $437

Break-even live

Break-even rent $849

Max offer price $100,000

Occupancy floor 64%

Sensitivity live

Price	-10% $493	-5% $465	+0% $437	+5% $408	+10% $380
Rent	-10% $326	-5% $381	+0% $437	+5% $492	+10% $547
Rate	-1.0pp $487	-0.5pp $462	base $437	+0.5pp $411	+1.0pp $384

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Garden St Unit 131 Marion, OH	2.0	1.0	752	$900	$1.20	45d	1	1.38mi

Listing history 23 events

1. 2026-06-21
   days on market $100,000 Active 48 DOM
2. 2026-06-19
   days on market $100,000 Active 46 DOM
3. 2026-06-18
   days on market $100,000 Active 45 DOM
4. 2026-06-17
   days on market $100,000 Active 44 DOM
5. 2026-06-16
   days on market $100,000 Active 43 DOM
6. 2026-06-15
   days on market $100,000 Active 42 DOM
7. 2026-06-14
   days on market $100,000 Active 40 DOM
8. 2026-06-12
   days on market $100,000 Active 39 DOM
9. 2026-06-09
   days on market $100,000 Active 36 DOM
10. 2026-06-08
    days on market $100,000 Active 35 DOM
11. 2026-06-07
    days on market $100,000 Active 34 DOM
12. 2026-06-05
    days on market $100,000 Active 31 DOM
13. 2026-06-03
    days on market $100,000 Active 30 DOM
14. 2026-06-02
    days on market $100,000 Active 29 DOM
15. 2026-06-01
    days on market $100,000 Active 28 DOM
16. 2026-05-31
    days on market $100,000 Active 27 DOM
17. 2026-05-30
    days on market $100,000 Active 26 DOM
18. 2026-05-12
    listed $100,000 Active 327-char remark
19. 2026-04-30
    listed $100,000 Active 327-char remark
20. 2015-08-25
    historical

    Show marketing remark (450 chars)

    Looking for an affordable and nice home? This is it!! Move right in and enjoy. This home has been completely updated and will qualify for all types of financing. This home offers a HUGE living room with open floor plan to the equally as large kitchen. Brand new kitchen cabinets, counters, sink and all. .. everything has been done for you. Just a few of the many updates include: New bath, roof, windows, electrical, flooring, paint, doors and more!

21. 2015-08-13
    soldstatus $42,000
22. 2015-08-10
    soldstatus $42,000 Closed

    Show marketing remark (450 chars)

    Looking for an affordable and nice home? This is it!! Move right in and enjoy. This home has been completely updated and will qualify for all types of financing. This home offers a HUGE living room with open floor plan to the equally as large kitchen. Brand new kitchen cabinets, counters, sink and all. .. everything has been done for you. Just a few of the many updates include: New bath, roof, windows, electrical, flooring, paint, doors and more!

23. 2014-09-17
    listed $45,900

    Show marketing remark (450 chars)

    Looking for an affordable and nice home? This is it!! Move right in and enjoy. This home has been completely updated and will qualify for all types of financing. This home offers a HUGE living room with open floor plan to the equally as large kitchen. Brand new kitchen cabinets, counters, sink and all. .. everything has been done for you. Just a few of the many updates include: New bath, roof, windows, electrical, flooring, paint, doors and more!

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $1,410 · $117/mo
• Expected delta: +$150/yr (+$13/mo · 11.9%)

ⓘ 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 ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,824
• − Mortgage interest: −$5,602
• − Property taxes: −$1,260
• − Insurance: −$500
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$2,909
• Taxable income: $3,862
• Est. tax owed @ 24.0%: −$927
• After-tax cash flow: $4,312/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

+117.9% since first listed

5 events — show timeline

• 2026-04-30 Listed $100,000 Fizber.com
• 2015-08-25 Listing Removed — CBRMLS
• 2015-08-13 Sold (Public Records) $42,000 Public Records
• 2015-08-10 Sold (MLS) $42,000 CBRMLS
• 2014-09-17 Listed $45,900 CBRMLS

Property tax history

+6.2%/yr

Latest (2025): $1,260 · +0.0% YoY. Source: county tax records.