240 E Mccreight Ave · Springfield, OH 45503

$105,000

2 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 51 Days on market

Built 1921 4,791 sqft lot $78/sqft · 27% below area Est $144k · 27% under

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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 +13.5/30.0
• 1% rule +4.8/10.0
• DSCR +4.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a charming two-story residence nestled in the vibrant community of Springfield, offering a seamless blend of comfort and convenience. This delightful home, located at 240 E McCreight Ave, provides an ideal setting for both relaxation and entertaining. The generous living space spans 1350 square feet, thoughtfully designed to maximize every corner for optimal functionality and aesthetic appeal. Boasting three well-appointed bedrooms and a full bathroom. The layout ensures privacy while maintaining an open feel throughout. The exterior features a manageable lot size of 0.11 acres, providing ample outdoor space without extensive upkeep. Living at this home means embracing a lifestyle where convenience meets comfort. The location offers easy access to the heartbeat of the community, ensuring that daily necessities and leisure activities are always within reach.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1921

Property features AI

Exterior

• Parking: Detached garage (2 car); 2 car carport
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1921; No shared/common walls
• Construction: Block foundation; Built in 1921
• Exterior features: Block foundation; Lot approximately 0.11 acre

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement; One decorative fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $5 ($54/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 $103k (2.1% below list).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 4.8% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $32k; list at $105k implies a 232% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1921 — 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. Crime grade is F 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: 0.98% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 8.5

CMA / ARV

• ARV (median comp): $144,466
• List price: $105,000
• Delta: -27.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 Elm St	0.18mi	3/1.5 (+1)	1,353 (+0%)	4mo	$75,000	$55	81
372 Ridge Rd	0.20mi	2/1.0	1,248 (-8%)	3mo	$65,000	$52	76
1330 Garfield Ave	0.23mi	3/2.0 (+1)	1,381 (+2%)	2mo	$227,500	$165	75
617 E Mccreight Ave	0.28mi	2/1.0	1,241 (-8%)	0mo	$165,000	$133	73
329 Roosevelt Dr	0.36mi	2/1.0	1,243 (-8%)	2mo	$180,000	$145	68
1221 Terrace Dr	0.10mi	3/1.0 (+1)	1,206 (-11%)	5mo	$150,000	$124	68
728 E Northern Ave	0.38mi	3/2.0 (+1)	1,305 (-3%)	1mo	$234,000	$179	67
736 E Northern Ave	0.40mi	3/2.0 (+1)	1,306 (-3%)	3mo	$230,000	$176	65
301 Chestnut Ave	0.54mi	3/1.0 (+1)	1,329 (-2%)	4mo	$147,500	$111	64
330 W 1st St	0.66mi	3/1.0 (+1)	1,362 (+1%)	1mo	$160,000	$117	62
1718 Northpoint Ln	0.55mi	3/2.0 (+1)	1,475 (+9%)	2mo	$289,900	$197	48
1710 Northpoint Rd	0.54mi	3/2.0 (+1)	1,475 (+9%)	4mo	$275,000	$186	47

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-16,661
• Equity at exit: $15,656

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-13,870
• Equity at exit: $9,078

Cash invested: $29,400 (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 45503

• Active inventory: 142
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$213 /mo · $2,557/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $5

Break-even live

Break-even rent $1,022

Max offer price $105,000

Occupancy floor 95%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 E Northern Ave Unit 511 Springfield, OH	3.0	1.0	995	$995	$1.00	1d	1	0.25mi
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	2d	1	1.23mi

Listing history 19 events

1. 2026-06-19
   days on market $105,000 Active 51 DOM
2. 2026-06-18
   days on market $105,000 Active 50 DOM
3. 2026-06-17
   days on market $105,000 Active 49 DOM
4. 2026-06-16
   days on market $105,000 Active 48 DOM
5. 2026-06-15
   days on market $105,000 Active 47 DOM
6. 2026-06-14
   days on market $105,000 Active 45 DOM
7. 2026-06-12
   days on market $105,000 Active 44 DOM
8. 2026-06-09
   days on market $105,000 Active 41 DOM
9. 2026-06-08
   days on market $105,000 Active 40 DOM
10. 2026-06-07
    days on market $105,000 Active 39 DOM
11. 2026-06-05
    pricedays on market $105,000 Active 36 DOM
12. 2026-06-02
    days on market $110,000 Active 34 DOM
13. 2026-06-01
    days on market $110,000 Active 33 DOM
14. 2026-05-31
    days on market $110,000 Active 32 DOM
15. 2026-05-30
    days on market $110,000 Active 31 DOM
16. 2026-04-29
    listed $110,000 Active 878-char remark

    Show marketing remark (878 chars)

    Discover a charming two-story residence nestled in the vibrant community of Springfield, offering a seamless blend of comfort and convenience. This delightful home, located at 240 E McCreight Ave, provides an ideal setting for both relaxation and entertaining. The generous living space spans 1350 square feet, thoughtfully designed to maximize every corner for optimal functionality and aesthetic appeal. Boasting three well-appointed bedrooms and a full bathroom. The layout ensures privacy while maintaining an open feel throughout. The exterior features a manageable lot size of 0.11 acres, providing ample outdoor space without extensive upkeep. Living at this home means embracing a lifestyle where convenience meets comfort. The location offers easy access to the heartbeat of the community, ensuring that daily necessities and leisure activities are always within reach.

17. 2026-04-29
    listed $110,000 Active 878-char remark

    Show marketing remark (878 chars)

    Discover a charming two-story residence nestled in the vibrant community of Springfield, offering a seamless blend of comfort and convenience. This delightful home, located at 240 E McCreight Ave, provides an ideal setting for both relaxation and entertaining. The generous living space spans 1350 square feet, thoughtfully designed to maximize every corner for optimal functionality and aesthetic appeal. Boasting three well-appointed bedrooms and a full bathroom. The layout ensures privacy while maintaining an open feel throughout. The exterior features a manageable lot size of 0.11 acres, providing ample outdoor space without extensive upkeep. Living at this home means embracing a lifestyle where convenience meets comfort. The location offers easy access to the heartbeat of the community, ensuring that daily necessities and leisure activities are always within reach.

18. 2026-04-29
    listed $110,000 Active

    Show marketing remark (878 chars)

    Discover a charming two-story residence nestled in the vibrant community of Springfield, offering a seamless blend of comfort and convenience. This delightful home, located at 240 E McCreight Ave, provides an ideal setting for both relaxation and entertaining. The generous living space spans 1350 square feet, thoughtfully designed to maximize every corner for optimal functionality and aesthetic appeal. Boasting three well-appointed bedrooms and a full bathroom. The layout ensures privacy while maintaining an open feel throughout. The exterior features a manageable lot size of 0.11 acres, providing ample outdoor space without extensive upkeep. Living at this home means embracing a lifestyle where convenience meets comfort. The location offers easy access to the heartbeat of the community, ensuring that daily necessities and leisure activities are always within reach.

19. 1986-08-28
    soldstatus $31,607

ⓘ 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: $2,557 · $213/mo
• Projected year-2 tax: $2,557 · $213/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,335
• − Mortgage interest: −$5,882
• − Property taxes: −$2,557
• − Insurance: −$525
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$3,055
• Taxable loss: −$1,658
• Est. tax savings @ 24.0%: +$398
• After-tax cash flow: $452/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.92%
• Current HPI: 257.5694
• 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

+232.2% since first listed

7 events — show timeline

• 2026-06-03 Price Changed $105,000 CBRMLS
• 2026-06-03 Price Changed $105,000 Dayton MLS
• 2026-06-03 Price Changed $105,000 WRIST
• 2026-04-29 Listed $110,000 WRIST
• 2026-04-29 Listed $110,000 Dayton MLS
• 2026-04-29 Listed $110,000 CBRMLS
• 1986-08-28 Sold (Public Records) $31,607 Public Records

Property tax history

+9.0%/yr

Latest (2025): $2,557 · +67.0% YoY. Source: county tax records.