187 Olney Ave · Marion, OH 43302

$89,000

3 bd · 2.5 ba · 1,827 sqft · SingleFamily public records · 96 Days on market

Built 1900 8,276 sqft lot $49/sqft · 32% below area Est $131k · 32% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This well-designed two-story home offers a comfortable and functional layout with 4 bedrooms and 2 full bathrooms, making it ideal for families or anyone needing extra space. The home features a convenient first-floor owner's suite, providing privacy and easy accessibility without the need to use stairs. The owner's suite offers a comfortable retreat with plenty of room for a large bed and additional furniture. Upstairs, you'll find three additional bedrooms, perfect for family members, guests, or even a home office or hobby room. The second full bathroom helps accommodate the upper level, making daily routines convenient for everyone in the household. The main level provides a practical flow for everyday living, with ample room for a living area, dining space, and kitchen setup. The two-story design allows for separation between living and sleeping spaces, creating both comfort and privacy. Outside, the property includes a 2-car detached garage providing additional storage space. Overall, this 4-bedroom, 2-bath two-story home with a first-floor owner's suite and 2-car garage offers a balanced combination of space, convenience, and functionality--making it a great option for comfortable everyday living.

Key facts

• Two-story design
• 8,276 sq ft lot
• 2 garage spots

Tags

• FIRST-FLOOR OWNER'S SUITE
• TWO-STORY DESIGN
• 2-CAR DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 6.9% 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: 210 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% 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 $615 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $16k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $89k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.72% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.04%
• DSCR: 2.34
• GRM: 4.8

CMA / ARV

• ARV (median comp): $130,897
• List price: $89,000
• Delta: -32.01%
• 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
201 Orchard St	0.24mi	4/2.0 (+1)	1,700 (-7%)	1mo	$224,900	$132	70
491 Olney Ave	0.43mi	3/1.0	1,806 (-1%)	3mo	$107,060	$59	70
393 Windsor St	0.33mi	4/1.0 (+1)	1,862 (+2%)	4mo	$181,000	$97	67
343 S Prospect St	0.47mi	3/2.0	1,708 (-6%)	4mo	$87,000	$51	62
546 Cherry St	0.56mi	3/2.0	1,728 (-5%)	7mo	$136,000	$79	57
576 Girard Ave	0.62mi	4/2.5 (+1)	1,733 (-5%)	2mo	$227,500	$131	56
265 Orchard St	0.26mi	3/1.5	1,568 (-14%)	9mo	$215,000	$137	53
552 Cherry St	0.57mi	3/1.0	1,686 (-8%)	3mo	$140,000	$83	52
538 Cherry St	0.55mi	4/2.0 (+1)	1,596 (-13%)	0mo	$150,000	$94	46
545 Blaine Ave	0.51mi	4/1.0 (+1)	1,608 (-12%)	3mo	$110,000	$68	43
266 Oak St	0.50mi	4/1.0 (+1)	1,596 (-13%)	8mo	$170,000	$107	38
347 Mary St	0.53mi	4/1.0 (+1)	2,076 (+14%)	7mo	$118,500	$57	36

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: 24.6%
• Equity multiple: 2.02×
• Total profit: $25,320
• Equity at exit: $13,270

10-year hold

• IRR: 32.4%
• Equity multiple: 3.94×
• Total profit: $73,237
• Equity at exit: $7,695

Cash invested: $24,920 (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: 210
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,532 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$83 /mo · $990/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $624

Break-even live

Break-even rent $742

Max offer price $89,000

Occupancy floor 54%

Sensitivity live

Price	-10% $674	-5% $649	+0% $624	+5% $599	+10% $574
Rent	-10% $503	-5% $563	+0% $624	+5% $684	+10% $745
Rate	-1.0pp $669	-0.5pp $647	base $624	+0.5pp $601	+1.0pp $577

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $89,000 Active 96 DOM
2. 2026-06-18
   days on market $89,000 Active 95 DOM
3. 2026-06-17
   days on market $89,000 Active 94 DOM
4. 2026-06-16
   days on market $89,000 Active 93 DOM
5. 2026-06-15
   days on market $89,000 Active 92 DOM
6. 2026-06-14
   days on market $89,000 Active 90 DOM
7. 2026-06-12
   days on market $89,000 Active 89 DOM
8. 2026-06-09
   days on market $89,000 Active 86 DOM
9. 2026-06-09
   price $89,000 Active 85 DOM
10. 2026-06-08
    days on market $92,000 Active 85 DOM
11. 2026-06-07
    days on market $92,000 Active 84 DOM
12. 2026-06-05
    days on market $92,000 Active 81 DOM
13. 2026-06-03
    days on market $92,000 Active 80 DOM
14. 2026-06-02
    days on market $92,000 Active 79 DOM
15. 2026-06-01
    days on market $92,000 Active 78 DOM
16. 2026-05-31
    days on market $92,000 Active 77 DOM
17. 2026-05-30
    days on market $92,000 Active 76 DOM
18. 2026-04-28
    price $97,000 1223-char remark

    Show marketing remark (1223 chars)

    This well-designed two-story home offers a comfortable and functional layout with 4 bedrooms and 2 full bathrooms, making it ideal for families or anyone needing extra space. The home features a convenient first-floor owner's suite, providing privacy and easy accessibility without the need to use stairs. The owner's suite offers a comfortable retreat with plenty of room for a large bed and additional furniture. Upstairs, you'll find three additional bedrooms, perfect for family members, guests, or even a home office or hobby room. The second full bathroom helps accommodate the upper level, making daily routines convenient for everyone in the household. The main level provides a practical flow for everyday living, with ample room for a living area, dining space, and kitchen setup. The two-story design allows for separation between living and sleeping spaces, creating both comfort and privacy. Outside, the property includes a 2-car detached garage providing additional storage space. Overall, this 4-bedroom, 2-bath two-story home with a first-floor owner's suite and 2-car garage offers a balanced combination of space, convenience, and functionality--making it a great option for comfortable everyday living.

19. 2026-04-08
    status Active 1223-char remark

    Show marketing remark (1223 chars)

    This well-designed two-story home offers a comfortable and functional layout with 4 bedrooms and 2 full bathrooms, making it ideal for families or anyone needing extra space. The home features a convenient first-floor owner's suite, providing privacy and easy accessibility without the need to use stairs. The owner's suite offers a comfortable retreat with plenty of room for a large bed and additional furniture. Upstairs, you'll find three additional bedrooms, perfect for family members, guests, or even a home office or hobby room. The second full bathroom helps accommodate the upper level, making daily routines convenient for everyone in the household. The main level provides a practical flow for everyday living, with ample room for a living area, dining space, and kitchen setup. The two-story design allows for separation between living and sleeping spaces, creating both comfort and privacy. Outside, the property includes a 2-car detached garage providing additional storage space. Overall, this 4-bedroom, 2-bath two-story home with a first-floor owner's suite and 2-car garage offers a balanced combination of space, convenience, and functionality--making it a great option for comfortable everyday living.

20. 2026-04-08
    price $99,900 1223-char remark

    Show marketing remark (1223 chars)

    This well-designed two-story home offers a comfortable and functional layout with 4 bedrooms and 2 full bathrooms, making it ideal for families or anyone needing extra space. The home features a convenient first-floor owner's suite, providing privacy and easy accessibility without the need to use stairs. The owner's suite offers a comfortable retreat with plenty of room for a large bed and additional furniture. Upstairs, you'll find three additional bedrooms, perfect for family members, guests, or even a home office or hobby room. The second full bathroom helps accommodate the upper level, making daily routines convenient for everyone in the household. The main level provides a practical flow for everyday living, with ample room for a living area, dining space, and kitchen setup. The two-story design allows for separation between living and sleeping spaces, creating both comfort and privacy. Outside, the property includes a 2-car detached garage providing additional storage space. Overall, this 4-bedroom, 2-bath two-story home with a first-floor owner's suite and 2-car garage offers a balanced combination of space, convenience, and functionality--making it a great option for comfortable everyday living.

21. 2026-03-30
    historical Contingent 1223-char remark

    Show marketing remark (1223 chars)

    This well-designed two-story home offers a comfortable and functional layout with 4 bedrooms and 2 full bathrooms, making it ideal for families or anyone needing extra space. The home features a convenient first-floor owner's suite, providing privacy and easy accessibility without the need to use stairs. The owner's suite offers a comfortable retreat with plenty of room for a large bed and additional furniture. Upstairs, you'll find three additional bedrooms, perfect for family members, guests, or even a home office or hobby room. The second full bathroom helps accommodate the upper level, making daily routines convenient for everyone in the household. The main level provides a practical flow for everyday living, with ample room for a living area, dining space, and kitchen setup. The two-story design allows for separation between living and sleeping spaces, creating both comfort and privacy. Outside, the property includes a 2-car detached garage providing additional storage space. Overall, this 4-bedroom, 2-bath two-story home with a first-floor owner's suite and 2-car garage offers a balanced combination of space, convenience, and functionality--making it a great option for comfortable everyday living.

22. 2026-03-15
    listed $105,000 Active 1223-char remark

    Show marketing remark (1223 chars)

    This well-designed two-story home offers a comfortable and functional layout with 4 bedrooms and 2 full bathrooms, making it ideal for families or anyone needing extra space. The home features a convenient first-floor owner's suite, providing privacy and easy accessibility without the need to use stairs. The owner's suite offers a comfortable retreat with plenty of room for a large bed and additional furniture. Upstairs, you'll find three additional bedrooms, perfect for family members, guests, or even a home office or hobby room. The second full bathroom helps accommodate the upper level, making daily routines convenient for everyone in the household. The main level provides a practical flow for everyday living, with ample room for a living area, dining space, and kitchen setup. The two-story design allows for separation between living and sleeping spaces, creating both comfort and privacy. Outside, the property includes a 2-car detached garage providing additional storage space. Overall, this 4-bedroom, 2-bath two-story home with a first-floor owner's suite and 2-car garage offers a balanced combination of space, convenience, and functionality--making it a great option for comfortable everyday living.

23. 2021-06-02
    historical
24. 2021-06-02
    historical
25. 2021-06-02
    historical
26. 2021-06-02
    historical
27. 2021-06-02
    historical
28. 2019-01-28
    soldstatus $58,250 Closed
29. 2019-01-28
    historical
30. 2018-07-12
    listed $59,500
31. 2015-09-18
    listed $68,500
32. 2012-04-30
    listed $50,000
33. 2009-01-05
    listed $49,900
34. 2007-02-03
    listed $59,500
35. 2005-01-18
    listed $70,000

ⓘ 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: $990 · $83/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$199/yr (+$17/mo · 20.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,383
• − Mortgage interest: −$4,985
• − Property taxes: −$990
• − Insurance: −$445
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$2,589
• Taxable income: $6,432
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $5,943/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

+38.6% since first listed

18 events — show timeline

• 2026-04-28 Price Changed $97,000 CBRMLS
• 2026-04-08 Relisted — CBRMLS
• 2026-04-08 Price Changed $99,900 CBRMLS
• 2026-03-30 Contingent — CBRMLS
• 2026-03-15 Listed $105,000 CBRMLS
• 2021-06-02 Listing Removed — CBRMLS
• 2021-06-02 Listing Removed — CBRMLS
• 2021-06-02 Listing Removed — CBRMLS
• 2021-06-02 Listing Removed — CBRMLS
• 2021-06-02 Listing Removed — CBRMLS
• 2019-01-28 Listing Removed — CBRMLS
• 2019-01-28 Sold (MLS) $58,250 CBRMLS
• 2018-07-12 Listed $59,500 CBRMLS
• 2015-09-18 Listed $68,500 CBRMLS
• 2012-04-30 Listed $50,000 CBRMLS
• 2009-01-05 Listed $49,900 CBRMLS
• 2007-02-03 Listed $59,500 CBRMLS
• 2005-01-18 Listed $70,000 CBRMLS

Property tax history

+2.5%/yr

Latest (2025): $990 · +0.0% YoY. Source: county tax records.