408 N Bell Ave · Springfield, OH 45504

$100,000

2 bd · 1.5 ba · 1,486 sqft · SingleFamily public records · 10 Days on market

Built 1891 4,900 sqft lot Est $150k · 33% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Great investment opportunity on a quiet dead-end street. 3 additional parcels included.

Key facts

• 4,900 sq ft lot
• Built 1891
• Listed 9 days

Tags

• QUIET DEAD-END STREET
• INVESTMENT OPPORTUNITY

Property features AI

Exterior

• Utilities: Supplied water; Public sewer
• Home design: Single-family residence; House
• Construction: Built in 1891; Wood siding
• Exterior features: Residential lot; Lot dimensions approximately 35 x 140

Interior

• Kitchen: Kitchen (14 x 13)
• Bedrooms: Bedroom 1 (15 x 13); Bedroom 2 (15 x 13)
• Bathrooms: 2 total bathrooms (1 full, 1 half)
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Six total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.3% 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: 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $691 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $100k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1891 — 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. 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?
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.23%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $150,086
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 N Western Ave	0.11mi	3/1.0 (+1)	1,460 (-2%)	4mo	$157,000	$108	82
1208 Broadway St	0.12mi	3/1.5 (+1)	1,392 (-6%)	11mo	$175,000	$126	70
1323 Broadway St	0.22mi	2/1.0	1,356 (-9%)	5mo	$140,000	$103	69
311 N Shaffer St	0.22mi	3/2.0 (+1)	1,610 (+8%)	4mo	$152,000	$94	66
306 N Bechtle Ave	0.26mi	3/1.0 (+1)	1,288 (-13%)	2mo	$169,900	$132	57
308 N Bechtle Ave	0.26mi	3/1.0 (+1)	1,326 (-11%)	13mo	$121,000	$91	52
833 W Mulberry St	0.71mi	3/1.5 (+1)	1,448 (-3%)	7mo	$154,500	$107	52
720 W Columbia St	0.36mi	3/1.0 (+1)	1,651 (+11%)	12mo	$140,000	$85	48
1417 W Main St	0.48mi	3/1.0 (+1)	1,668 (+12%)	3mo	$142,500	$85	47
970 Hillcrest Ave	0.49mi	3/1.0 (+1)	1,328 (-11%)	11mo	$35,000	$26	43
1865 Overlook Dr	0.66mi	3/2.0 (+1)	1,627 (+10%)	9mo	$165,000	$101	39
1815 Broadway St	0.64mi	3/2.0 (+1)	1,650 (+11%)	8mo	$155,000	$94	38

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $4,947
• Equity at exit: $14,910

10-year hold

• IRR: 14.0%
• Equity multiple: 2.13×
• Total profit: $31,542
• 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 45504

• Active inventory: 93
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $332

Break-even live

Break-even rent $835

Max offer price $100,000

Occupancy floor 69%

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	2d	1	0.16mi
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	2d	1	0.21mi
147 S Shaffer St Springfield, OH	1.0	1.0	900	$875	$0.97	19d	1	0.58mi

Listing history 12 events

1. 2026-06-19
   days on market $100,000 Active 10 DOM
2. 2026-06-18
   days on market $100,000 Active 9 DOM
3. 2026-06-17
   days on market $100,000 Active 8 DOM
4. 2026-06-16
   days on market $100,000 Active 7 DOM
5. 2026-06-15
   days on market $100,000 Active 6 DOM
6. 2026-06-14
   days on market $100,000 Active 4 DOM
7. 2026-06-12
   days on market $100,000 Active 3 DOM
8. 2026-06-09
   days on marketlisting id $100,000 Active 1 DOM
9. 2026-06-08
   days on market $100,000 Active 5 DOM
10. 2026-06-07
    days on market $100,000 Active 4 DOM
11. 2026-06-05
    remarks 87-char remark
12. 2026-06-05
    listed $100,000 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: $1,124 · $94/mo
• Projected year-2 tax: $1,342 · $112/mo
• Expected delta: +$218/yr (+$18/mo · 19.4%)

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

Taxation est. · year 1

• Rental income: $15,066
• − Mortgage interest: −$5,602
• − Property taxes: −$1,124
• − Insurance: −$500
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$2,909
• Taxable income: $2,521
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $3,380/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): 16,654
• Household income: $67,334
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 6.4

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 (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -138.72%
• Current HPI: 240.7049
• 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

+233.3% since first listed

4 events — show timeline

• 2026-06-03 Listed $100,000 WRIST
• 2019-03-21 Sold (Public Records) $30,000 Public Records
• 2015-10-23 Sold (Public Records) $30,000 Public Records
• 1994-04-18 Sold (Public Records) $30,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $1,124 · +32.7% YoY. Source: county tax records.