303 W Cumberland St · Lewisburg, OH 45338

$60,000

3 bd · 1.0 ba · 1,944 sqft · SingleFamily public records · 330 Days on market

Built 1829 0.31 ac lot $31/sqft · 71% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Oh the stories this historical 3 bed, 1 bath, almost 2,000 sq ft. building could tell. Located on just over 1/2 an acre in the beautiful Village of Lewisburg, this building was once called the Euphemia Inn and Mcnutt's Euphemia Inn and Tavern. It is located on the Old National Road and was a tavern hotel, serving stagecoach traffic and pioneering travelers. Constructed from harvested wood in 1839, it is on the National Register of Historic Places as being constructed in 1840. At one time, this building was located in the most important intersection in Preble County: Fort Greenville Pike with National Road. This building has retained a lot of historical integrity of its materials and design with original brick nogging structure, exterior walls, portions of exterior siding, many window frame trims, the fireplace hearth, and 2 surviving iron stove chimneys. This building presents a perfect opportunity to be a part of history in the making. Like the owners before, they all had a vision of how they saw the future of this building. Currently this building stands as testament to the forefathers visions aforetime and is now time for a new owner, with a new vision, to step forward and create their own dream. Located on over 1/2 an acre in town, the property could be remodeled, expanded upon, parking added, the possibilities are endless. This building is available for Federal Tax Credits that would be very beneficial to a potential owner. The uses permitted by the Village of Lewisburg are included in the disclosures for review. So get your plans together and add yourself to the list of the many historical figures, pioneers, and entrepreneurs that helped build this Village.

Key facts

• Historical building
• Iron stove chimneys
• Fireplace hearth

Tags

• HISTORICAL BUILDING
• FIREPLACE HEARTH
• IRON STOVE CHIMNEYS
• OVER 1/2 AN ACRE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#405 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tri-County North Local (rural): math 60% / reading 60% proficiency, ranked #286 of 656 in OH (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 14 active listings in the ZIP; solid renter incomes; 55 units permitted in Preble County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Preble County population projected at -17% 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 330 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $60k implies a 900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1829 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 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 1829 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.11% ✓
• Cap rate: 18.00%
• Cash-on-cash: 41.82%
• DSCR: 2.86
• GRM: 3.9

CMA / ARV

• ARV (median comp): $209,863
• List price: $60,000
• Delta: -71.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 E 3rd St	0.24mi	3/2.0	1,854 (-5%)	4mo	$217,500	$117	73
216 E Clay St	0.70mi	3/2.0	2,012 (+4%)	12mo	$219,000	$109	48
203 Ackton St	0.48mi	3/1.5	1,784 (-8%)	22mo	$235,000	$132	44
204 Esther Dr	0.47mi	3/2.0	1,800 (-7%)	22mo	$239,900	$133	43

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: 38.5%
• Equity multiple: 2.64×
• Total profit: $27,585
• Equity at exit: $8,946

10-year hold

• IRR: 44.9%
• Equity multiple: 5.29×
• Total profit: $72,114
• Equity at exit: $5,188

Cash invested: $16,800 (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 45338

• Active inventory: 14
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $585

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 49%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $60,000 Active 330 DOM
2. 2026-06-17
   days on market $60,000 Active 329 DOM
3. 2026-06-16
   days on market $60,000 Active 328 DOM
4. 2026-06-15
   days on market $60,000 Active 327 DOM
5. 2026-06-13
   days on market $60,000 Active 325 DOM
6. 2026-06-12
   days on market $60,000 Active 324 DOM
7. 2026-06-09
   days on market $60,000 Active 321 DOM
8. 2026-06-08
   days on market $60,000 Active 320 DOM
9. 2026-06-08
   days on market $60,000 Active 319 DOM
10. 2026-06-07
    days on market $60,000 Active 318 DOM
11. 2026-06-04
    days on market $60,000 Active 315 DOM
12. 2026-06-02
    days on market $60,000 Active 314 DOM
13. 2026-06-01
    days on market $60,000 Active 313 DOM
14. 2026-05-31
    days on market $60,000 Active 312 DOM
15. 2026-01-21
    price $60,000 1691-char remark

    Show marketing remark (1691 chars)

    Oh the stories this historical 3 bed, 1 bath, almost 2,000 sq ft. building could tell. Located on just over 1/2 an acre in the beautiful Village of Lewisburg, this building was once called the Euphemia Inn and Mcnutt's Euphemia Inn and Tavern. It is located on the Old National Road and was a tavern hotel, serving stagecoach traffic and pioneering travelers. Constructed from harvested wood in 1839, it is on the National Register of Historic Places as being constructed in 1840. At one time, this building was located in the most important intersection in Preble County: Fort Greenville Pike with National Road. This building has retained a lot of historical integrity of its materials and design with original brick nogging structure, exterior walls, portions of exterior siding, many window frame trims, the fireplace hearth, and 2 surviving iron stove chimneys. This building presents a perfect opportunity to be a part of history in the making. Like the owners before, they all had a vision of how they saw the future of this building. Currently this building stands as testament to the forefathers visions aforetime and is now time for a new owner, with a new vision, to step forward and create their own dream. Located on over 1/2 an acre in town, the property could be remodeled, expanded upon, parking added, the possibilities are endless. This building is available for Federal Tax Credits that would be very beneficial to a potential owner. The uses permitted by the Village of Lewisburg are included in the disclosures for review. So get your plans together and add yourself to the list of the many historical figures, pioneers, and entrepreneurs that helped build this Village.

16. 2025-08-22
    price $65,000 1691-char remark

    Show marketing remark (1691 chars)

    Oh the stories this historical 3 bed, 1 bath, almost 2,000 sq ft. building could tell. Located on just over 1/2 an acre in the beautiful Village of Lewisburg, this building was once called the Euphemia Inn and Mcnutt's Euphemia Inn and Tavern. It is located on the Old National Road and was a tavern hotel, serving stagecoach traffic and pioneering travelers. Constructed from harvested wood in 1839, it is on the National Register of Historic Places as being constructed in 1840. At one time, this building was located in the most important intersection in Preble County: Fort Greenville Pike with National Road. This building has retained a lot of historical integrity of its materials and design with original brick nogging structure, exterior walls, portions of exterior siding, many window frame trims, the fireplace hearth, and 2 surviving iron stove chimneys. This building presents a perfect opportunity to be a part of history in the making. Like the owners before, they all had a vision of how they saw the future of this building. Currently this building stands as testament to the forefathers visions aforetime and is now time for a new owner, with a new vision, to step forward and create their own dream. Located on over 1/2 an acre in town, the property could be remodeled, expanded upon, parking added, the possibilities are endless. This building is available for Federal Tax Credits that would be very beneficial to a potential owner. The uses permitted by the Village of Lewisburg are included in the disclosures for review. So get your plans together and add yourself to the list of the many historical figures, pioneers, and entrepreneurs that helped build this Village.

17. 2025-07-22
    listed $75,000 Active 1691-char remark

    Show marketing remark (1691 chars)

    Oh the stories this historical 3 bed, 1 bath, almost 2,000 sq ft. building could tell. Located on just over 1/2 an acre in the beautiful Village of Lewisburg, this building was once called the Euphemia Inn and Mcnutt's Euphemia Inn and Tavern. It is located on the Old National Road and was a tavern hotel, serving stagecoach traffic and pioneering travelers. Constructed from harvested wood in 1839, it is on the National Register of Historic Places as being constructed in 1840. At one time, this building was located in the most important intersection in Preble County: Fort Greenville Pike with National Road. This building has retained a lot of historical integrity of its materials and design with original brick nogging structure, exterior walls, portions of exterior siding, many window frame trims, the fireplace hearth, and 2 surviving iron stove chimneys. This building presents a perfect opportunity to be a part of history in the making. Like the owners before, they all had a vision of how they saw the future of this building. Currently this building stands as testament to the forefathers visions aforetime and is now time for a new owner, with a new vision, to step forward and create their own dream. Located on over 1/2 an acre in town, the property could be remodeled, expanded upon, parking added, the possibilities are endless. This building is available for Federal Tax Credits that would be very beneficial to a potential owner. The uses permitted by the Village of Lewisburg are included in the disclosures for review. So get your plans together and add yourself to the list of the many historical figures, pioneers, and entrepreneurs that helped build this Village.

18. 2017-03-17
    soldstatus $6,000
19. 2017-03-17
    soldstatus $6,000
20. 1997-06-18
    soldstatus $59,200

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,192
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$1,745
• Taxable income: $6,455
• Est. tax owed @ 24.0%: −$1,549
• After-tax cash flow: $5,477/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: Tri-County North Local
• NCES district ID: 3904926
• Math proficiency: 60% ▼ -10.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $53,112
• Composite: 51.38/100
• National rank: #1734
• State rank: #286 of 656 in OH

Livability — Lewisburg

• Score: 71/100
• State rank: #405
• US rank: #6698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, OH
• County: Preble · 42,634 people
• Population (ZIP): 4,782
• Household income: $75,462
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 6.1

Population outlook (Preble County) Hauer SSP2

• Today (2025): 39,711 people
• By 2030: 38,511 · -3.0%
• By 2040: 35,783 · -9.9%
• By 2050: 33,006 · -16.9%
• By 2075: 27,067 · -31.8%
• By 2100: 21,255 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Preble

• 2024 margin: Solid R (+59.1) · D 20.1% · R 79.2%
• 2008→2024 swing: -27.9pp toward R · 2008: -31.2pp · 2024: -59.1pp
• All cycles: 2024: R+59.1 2020: R+57.5 2016: R+54.0 2012: R+36.7 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.22%
• Current HPI: 199.8625
• 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

+1.4% since first listed

6 events — show timeline

• 2026-01-21 Price Changed $60,000 Dayton MLS
• 2025-08-22 Price Changed $65,000 Dayton MLS
• 2025-07-22 Listed $75,000 Dayton MLS
• 2017-03-17 Sold (Public Records) $6,000 Public Records
• 2017-03-17 Sold (Public Records) $6,000 Public Records
• 1997-06-18 Sold (Public Records) $59,200 Public Records

Property tax history

-17.6%/yr

Latest (2025): $99 · +0.0% YoY. Source: county tax records.