115 Eastway Dr · St. Marys, OH 45885

$69,000

3 bd · 1.0 ba · 1,334 sqft · SingleFamily public records · 231 Days on market

Built 1940 3,920 sqft lot ↓ 28% since listing

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property offers a unique chance to purchase a home well below $100K, with a listing price below its 2025 appraised value. Its location near the lake and various amenities is highly desirable. Although the home requires renovation, it boasts newer siding, windows, and doors, as well as some updated electrical features.

Key facts

• Newer doors
• Newer siding
• Newer windows

Tags

• LOCATION NEAR THE LAKE
• NEWER SIDING
• NEWER WINDOWS
• NEWER DOORS
• UPDATED ELECTRICAL FEATURES

Property features AI

Finance

• Other: Lot dimensions about 100 x 40 (approximately 0.09 acre)

Exterior

• Utilities: Supplied water; Public sewer
• Home design: Single family residence; Residential property; Built in 1940
• Construction: Metal siding; House structure
• Exterior features: Lake-related waterfront; Shed(s) on the property; Residential lot

Interior

• Flooring: No flooring specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Heating type: Other (see remarks)
• Interior features: Crawl space basement; No finished flooring specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.0% in St. Marys — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St Marys City (town): math 64% / reading 65% proficiency, ranked #221 of 656 in OH (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 68 active listings in the ZIP; solid renter incomes; 121 units permitted in Auglaize County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Auglaize County population projected at -12% 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.48% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.07%
• DSCR: 1.98
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $244,122
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 Northway Dr	0.24mi	3/1.0	1,280 (-4%)	7mo	$123,500	$96	76
1306 Nagel St	0.51mi	3/1.5	1,282 (-4%)	9mo	$190,000	$148	60
815 Everglade Ave	0.55mi	3/2.0	1,264 (-5%)	3mo	$240,000	$190	60
1101 Hawthorne St	0.40mi	3/1.5	1,493 (+12%)	1mo	$294,900	$198	58
1127 Robin Rd	0.67mi	3/1.5	1,337 (+0%)	10mo	$155,000	$116	58
805 Hawthorne St	0.27mi	3/2.0	1,484 (+11%)	10mo	$315,000	$212	56
207 Longview Ct Ct	0.46mi	3/1.0	1,200 (-10%)	9mo	$169,900	$142	54
2359 Celina Rd	0.65mi	3/1.0	1,194 (-10%)	1mo	$189,900	$159	51
1209 W High St	0.74mi	3/1.0	1,232 (-8%)	2mo	$199,900	$162	51
1114 Neil Ave	0.70mi	4/2.0 (+1)	1,451 (+9%)	11mo	$265,000	$183	35
1108 Motz St	0.67mi	4/2.0 (+1)	1,136 (-15%)	2mo	$215,000	$189	34
1206 Kimberly Dr	0.59mi	4/3.0 (+1)	1,528 (+14%)	11mo	$353,400	$231	26

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: 14.8%
• Equity multiple: 1.59×
• Total profit: $11,450
• Equity at exit: $10,288

10-year hold

• IRR: 23.5%
• Equity multiple: 3.02×
• Total profit: $39,110
• Equity at exit: $5,966

Cash invested: $19,320 (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 45885

• Active inventory: 68
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $355

Break-even live

Break-even rent $571

Max offer price $69,000

Occupancy floor 60%

Sensitivity live

Price	-10% $394	-5% $375	+0% $355	+5% $336	+10% $316
Rent	-10% $275	-5% $315	+0% $355	+5% $396	+10% $436
Rate	-1.0pp $390	-0.5pp $373	base $355	+0.5pp $337	+1.0pp $319

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-05
   price $69,000
2. 2025-11-03
   price $79,000
3. 2025-10-06
   listed $96,000 Active

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$177/yr (+$15/mo · 24.5%)

ⓘ 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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,245
• − Mortgage interest: −$3,865
• − Property taxes: −$722
• − Insurance: −$345
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$2,007
• Taxable income: $3,346
• Est. tax owed @ 24.0%: −$803
• After-tax cash flow: $3,461/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: St Marys City
• NCES district ID: 3904472
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 65% ▼ -4.00%
• Median HH income: $49,672
• Composite: 54.78/100
• National rank: #1317
• State rank: #221 of 656 in OH

Livability — St. Marys

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Auglaize · 44,666 people
• Population (ZIP): 12,744
• Household income: $75,054
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 3.6

Population outlook (Auglaize County) Hauer SSP2

• Today (2025): 45,247 people
• By 2030: 44,448 · -1.8%
• By 2040: 42,355 · -6.4%
• By 2050: 39,722 · -12.2%
• By 2075: 33,967 · -24.9%
• By 2100: 26,839 · -40.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Lithuanian 3% Iranian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Auglaize

• 2024 margin: Solid R (+64.6) · D 17.3% · R 81.9%
• 2008→2024 swing: -23.4pp toward R · 2008: -41.2pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+62.6 2016: R+62.6 2012: R+48.9 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.83%
• Current HPI: 197.352
• 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

-28.1% since first listed

3 events — show timeline

• 2026-04-05 Price Changed $69,000 WRIST
• 2025-11-03 Price Changed $79,000 WRIST
• 2025-10-06 Listed $96,000 WRIST

Property tax history

+25.4%/yr

Latest (2025): $722 · -4.8% YoY. Source: county tax records.