116 Drake · Mendon, OH 45862

$100,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 1 Days on market

Built 1959 5,063 sqft lot Est $82k · 21% over

---

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 +15.2/30.0
• Appreciation +8.0/10.0
• Schools +6.4/10.0
• DSCR +4.7/10.0
• 1% rule +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

Key facts

• Metal roof
• Walk-in shower
• Vinyl siding

Tags

• HARDWOOD FLOORS
• WALK-IN SHOWER
• METAL ROOF
• VINYL SIDING
• 1 CAR GARAGE

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached two-car garage
• Utilities: Storm sewer
• Home design: Single-story home; Vinyl siding
• Construction: Vinyl siding exterior
• Exterior features: Residential zoning; Lot approximately 61 x 83 (about 0.12 acres)

Interior

• Kitchen: Main-level kitchen (approximately 10 x 10)
• Bedrooms: Two bedrooms on the main level (each about 11 x 10)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (propane); Window cooling units
• Interior features: Wood-burning fireplace; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $35 ($417/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (14.0% below list).
• Recommended offer: $86k (14.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#891 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D-, amenities F.
• Parkway Local (rural): math 76% / reading 76% proficiency, ranked #96 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; lower-income renter base — watch delinquency; 92 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($691 loan paydown + $6k appreciation (6.0% local appreciation)).
• Mercer County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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 $82k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,044 (14.0% below list)

Questions for the listing agent

1. Built in 1959 — 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 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?
4. 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?
5. 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?
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: 0.86% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $82,432
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Drake St	0.00mi	2/1.0	896 (0%)	11mo	$82,450	$92	91
207 N Wayne St	0.16mi	2/1.0	908 (+1%)	14mo	$40,000	$44	79
307 W Walnut St	0.17mi	2/1.0	825 (-8%)	12mo	$136,000	$165	69
115 N Wayne St	0.10mi	2/1.0	1,020 (+14%)	15mo	$50,000	$49	59

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

Projected returns pro-forma

5.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.11×
• Total profit: $30,973
• Equity at exit: $62,760

10-year hold

• IRR: 16.4%
• Equity multiple: 4.19×
• Total profit: $89,364
• Equity at exit: $113,722

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 45862

• Home prices YoY: 3.0%
• Active inventory: 4
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $35

Break-even live

Break-even rent $816

Max offer price $100,000

Occupancy floor 91%

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: —

Listing history 12 events

1. 2026-05-22
   status Pending 857-char remark

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

2. 2026-05-22
   status Pending

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

3. 2026-05-22
   listed $100,000 Active 857-char remark

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

4. 2026-05-22
   listed $100,000 Active

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

5. 2025-07-21
   status Pending 857-char remark

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

6. 2025-07-21
   soldstatus $82,450 Closed 857-char remark

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

7. 2025-05-29
   historical Contingency - Finance and Inspections 857-char remark

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

8. 2025-05-16
   listed $85,000 Active 857-char remark

   Show marketing remark (857 chars)

   Welcome to 116 Drake St in Mendon. Walk inside & you'll find a 2-bedroom, 1-bath home featuring original hardwood floors throughout, walk-in shower, ceiling fans and a comfortable layout. The home boasts a durable metal roof, newer vinyl siding and energy-efficient upgrades including a tankless electric water heater and gas forced air heat for year-round comfort. Enjoy cooking in the kitchen that has an abundance of cabinets. A bonus is that the stove and refrigerator are included. The property also includes a convenient 1-car garage, perfect for storage or parking. Sellers are still in the process of removing items from the home. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance investment, this home offers functionality and value. Contact your favorite agent today to schedule your private showing.

9. 2020-03-20
   soldstatus $55,000
10. 2020-03-20
    soldstatus $55,000
11. 2020-02-29
    listed $55,000
12. 2003-04-30
    soldstatus $55,000

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $1,253 · $104/mo
• Expected delta: +$307/yr (+$26/mo · 32.4%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,325
• − Mortgage interest: −$5,602
• − Property taxes: −$947
• − Insurance: −$500
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$2,909
• Taxable loss: −$1,284
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $725/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: Parkway Local
• NCES district ID: 3904857
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $47,796
• Composite: 64.14/100
• National rank: #569
• State rank: #96 of 656 in OH

Livability — Mendon

• Score: 62/100
• State rank: #891
• US rank: #16875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mendon, OH
• County: Mercer · 42,068 people
• City population: 1,182
• Population (ZIP): 1,182
• Household income: $38,281
• Rent vs Own: 16.2% rent · 83.8% own

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 40,163 people
• By 2030: 39,367 · -2.0%
• By 2040: 37,406 · -6.9%
• By 2050: 34,917 · -13.1%
• By 2075: 28,969 · -27.9%
• By 2100: 21,338 · -46.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+66.7) · D 16.3% · R 83.0%
• 2008→2024 swing: -23.2pp toward R · 2008: -43.5pp · 2024: -66.7pp
• All cycles: 2024: R+66.7 2020: R+64.9 2016: R+65.0 2012: R+54.8 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.98%
• Current HPI: 206.0891
• 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

+81.8% since first listed

12 events — show timeline

• 2026-05-22 Pending — WRIST
• 2026-05-22 Pending — Dayton MLS
• 2026-05-22 Listed $100,000 Dayton MLS
• 2026-05-22 Listed $100,000 WRIST
• 2025-07-21 Pending — WRIST
• 2025-07-21 Sold (MLS) $82,450 WRIST
• 2025-05-29 Contingent — WRIST
• 2025-05-16 Listed $85,000 WRIST
• 2020-03-20 Sold (Public Records) $55,000 Public Records
• 2020-03-20 Sold (MLS) $55,000 WRIST
• 2020-02-29 Listed $55,000 WRIST
• 2003-04-30 Sold (Public Records) $55,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $947 · +1.5% YoY. Source: county tax records.