816 Michigan Ave · Youngstown, OH 44504

$165,000

4 bd · 2.0 ba · 1,785 sqft · MultiFamily public records · 269 Days on market

Built 1901 5,880 sqft lot

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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 +25.4/30.0
• DSCR +8.4/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 816 Michigan Avenue, a high-yield investment opportunity strategically positioned just steps from the Youngstown State University campus. ? This turnkey duplex is currently operating at a 12.49% Cap Rate, offering immediate cash flow with an extraordinary "value-add" upside that could push returns to a 23.64% Pro-Forma Cap Rate. ? The property utilizes a highly profitable rent-by-the-room model, with 57% of the capacity already leased at $575+ per month. ? This allows a savvy investor to step into a performing asset while simultaneously capturing the remaining 43% vacancy to nearly double the Net Operating Income. ? Designed for tenant retention and low-maintenance ow

Key facts

• 5,880 sq ft lot
• 2 garage spots
• Built 1901

Property features AI

Finance

• Financial info: Investment property with leased units (both leases expire May 31, 2026)

Exterior

• Parking: Has garage with 2 garage spaces; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Multi-unit property with one building; Entry levels include 1st and 2nd floors
• Construction: Vinyl siding; Shingle roof; Built (year per public records)
• Exterior features: Driveway

Interior

• Bedrooms: Three-bedroom unit on the 2nd floor (leased through May 31, 2026); Two-bedroom unit on the 1st floor (leased through May 31, 2026)
• Bathrooms: Two full bathrooms total; Each unit has one full bathroom
• Heating & cooling: Forced air heating
• Interior features: Updated/remodeled condition; Common basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive. Per door: $191/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 7.0% in Youngstown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 81/100 on livability (#99 in OH, #1,506 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Youngstown City (urban): math 8% / reading 17% proficiency, ranked #649 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 147 units permitted in Mahoning County in 2024 (0 in 5+ unit buildings).
• At $1,717/mo this rent would consume 51% of the median local household income ($40k/yr) (locally 16% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.7% local appreciation)).
• Mahoning County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $42k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.90%
• DSCR: 1.44
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.71×
• Total profit: $79,005
• Equity at exit: $111,348

10-year hold

• IRR: 23.2%
• Equity multiple: 5.58×
• Total profit: $211,658
• Equity at exit: $208,854

Cash invested: $46,200 (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 44504

• Home prices YoY: 4.0%
• Active inventory: 28
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $1,717 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$41 /mo · $495/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $381

Break-even live

Break-even rent $1,235

Max offer price $165,000

Occupancy floor 73%

Sensitivity live

Price	-10% $475	-5% $428	+0% $381	+5% $334	+10% $288
Rent	-10% $246	-5% $313	+0% $381	+5% $449	+10% $517
Rate	-1.0pp $464	-0.5pp $423	base $381	+0.5pp $338	+1.0pp $295

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,718
Total (2 units)			$1,717

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
351 Lincoln Ave Youngstown, OH	3.0–5.0	3.0–5.0	1527	$760	$0.50	14d	10	0.42mi
176 Upland Ave Unit 1 Youngstown, OH	4.0	2.0	1300	$1,225	$0.94	45d	1	1.40mi

Listing history 34 events

1. 2026-06-21
   days on market $165,000 Active 269 DOM
2. 2026-06-19
   days on market $165,000 Active 267 DOM
3. 2026-06-18
   days on market $165,000 Active 266 DOM
4. 2026-06-17
   days on market $165,000 Active 265 DOM
5. 2026-06-16
   days on market $165,000 Active 264 DOM
6. 2026-06-15
   days on market $165,000 Active 263 DOM
7. 2026-06-14
   days on market $165,000 Active 261 DOM
8. 2026-06-13
   days on market $165,000 Active 260 DOM
9. 2026-06-10
   days on market $165,000 Active 258 DOM
10. 2026-06-09
    days on market $165,000 Active 257 DOM
11. 2026-06-08
    days on market $165,000 Active 256 DOM
12. 2026-06-07
    days on market $165,000 Active 255 DOM
13. 2026-06-03
    days on market $165,000 Active 251 DOM
14. 2026-06-02
    days on market $165,000 Active 250 DOM
15. 2026-06-01
    days on market $165,000 Active 249 DOM
16. 2026-05-31
    days on market $165,000 Active 248 DOM
17. 2026-05-30
    days on market $165,000 Active 247 DOM
18. 2026-04-05
    price $165,000
19. 2025-12-29
    price $180,000
20. 2025-11-17
    price $187,500
21. 2025-10-10
    status Active
22. 2025-10-10
    price $190,000
23. 2025-09-25
    historical Contingent
24. 2025-09-25
    listed $207,000 Active
25. 2025-09-15
    historical
26. 2025-08-25
    price $207,000
27. 2025-08-02
    status Active
28. 2025-07-30
    historical
29. 2025-05-09
    price $207,500
30. 2025-04-25
    status Active
31. 2025-04-14
    status Pending
32. 2025-02-11
    listed $215,000 Active
33. 2024-07-01
    soldstatus $150,000
34. 1992-10-20
    soldstatus $24,500

ⓘ 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: $495 · $41/mo
• Projected year-2 tax: $1,534 · $128/mo
• Expected delta: +$1,040/yr (+$87/mo · 210.1%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,604
• − Mortgage interest: −$9,243
• − Property taxes: −$495
• − Insurance: −$825
• − Repairs & maintenance: −$1,648
• − Management: −$1,648
• − Depreciation: −$4,800
• Taxable income: $1,945
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $4,107/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: Youngstown City
• NCES district ID: 3904516
• Math proficiency: 8% ▼ -15.00%
• Reading proficiency: 17% ▼ -10.00%
• Median HH income: $25,257
• Composite: 9.29/100
• National rank: #9858
• State rank: #649 of 656 in OH

Livability — Youngstown

• Score: 81/100
• State rank: #99
• US rank: #1506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Youngstown, OH
• County: Mahoning · 224,175 people
• City population: 28,503
• Metro: Youngstown-Warren, OH
• Population (ZIP): 5,185
• Household income: $40,156
• Rent vs Own: 58.9% rent · 41.1% own
• Severe rent burden: 15.7

Population outlook (Mahoning County) Hauer SSP2

• Today (2025): 223,932 people
• By 2030: 218,387 · -2.5%
• By 2040: 205,367 · -8.3%
• By 2050: 193,606 · -13.5%
• By 2075: 173,694 · -22.4%
• By 2100: 151,147 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 45% Black 38% Two or more races 8% Asian 5% Hispanic / Latino 4%
• Common ancestry: Italian 4% Serbian 1% Romanian 1%
• Foreign-born: 7% · Canada, Dominican Republic, South Korea
• Languages at home: 93% English-only · Other Indo-European 4% Spanish 1%

Political lean MEDSL · Mahoning

• 2024 margin: Lean R (+9.4) · D 44.9% · R 54.4%
• 2008→2024 swing: -36.1pp toward R · 2008: 26.6pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+1.9 2016: D+3.0 2012: D+27.7 2008: D+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.72%
• Current HPI: 174.9495
• 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

+573.5% since first listed

17 events — show timeline

• 2026-04-05 Price Changed $165,000 MLSNOW
• 2025-12-29 Price Changed $180,000 MLSNOW
• 2025-11-17 Price Changed $187,500 MLSNOW
• 2025-10-10 Relisted — MLSNOW
• 2025-10-10 Price Changed $190,000 MLSNOW
• 2025-09-25 Contingent — MLSNOW
• 2025-09-25 Listed $207,000 MLSNOW
• 2025-09-15 Listing Removed — MLSNOW
• 2025-08-25 Price Changed $207,000 MLSNOW
• 2025-08-02 Relisted — MLSNOW
• 2025-07-30 Listing Removed — MLSNOW
• 2025-05-09 Price Changed $207,500 MLSNOW
• 2025-04-25 Relisted — MLSNOW
• 2025-04-14 Pending — MLSNOW
• 2025-02-11 Listed $215,000 MLSNOW
• 2024-07-01 Sold (Public Records) $150,000 Public Records
• 1992-10-20 Sold (Public Records) $24,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $495 · -11.8% YoY. Source: county tax records.