197 Harrison St · Marion, OH 43302

$111,900

1 bd · 1.0 ba · 1,119 sqft · SingleFamily public records · 80 Days on market

Built 1900 7,405 sqft lot $100/sqft · 13% below area Est $129k · 13% under

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Why this score? — see what drove the C 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 +21.5/30.0
• ARV discount +13.4/15.0
• DSCR +6.9/10.0
• 1% rule +4.3/10.0
• 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

Welcome to this beautifully renovated 2-bedroom, 1-bath ranch-style home located just steps from the Marion County Fairgrounds! This charming home offers convenience, comfort, and modern updates throughout. Enjoy peace of mind with a brand-new roof, furnace, AC, and water heater—all recently installed as part of a full renovation. The updated interior features a spacious layout, refreshed finishes, and a bright, functional kitchen perfect for everyday living.

Key facts

• New furnace
• New water heater
• Updated interior

Tags

• RENOVATED RANCH STYLE HOME
• NEW ROOF
• NEW FURNACE
• NEW AC
• NEW WATER HEATER
• UPDATED INTERIOR

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (6.8% below list).
• Recommended offer: $104k (6.8% below list) — sets the bar for 1% rule.

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; 1 comparable units currently listed for rent nearby; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 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.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $12k; list at $112k implies a 832% 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 $104,244 (6.8% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 7% 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: 0.93% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.47%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (median comp): $128,899
• List price: $111,900
• Delta: -13.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
279 E Fairground St	0.14mi	2/1.0 (+1)	1,168 (+4%)	2mo	$163,000	$140	80
532 N Prospect St	0.31mi	2/1.0 (+1)	1,056 (-6%)	1mo	$124,900	$118	70
519 Oak St	0.40mi	2/1.0 (+1)	1,036 (-7%)	13mo	$132,000	$127	53
464 Ballentine Ave	0.38mi	2/1.0 (+1)	1,280 (+14%)	5mo	$135,000	$105	49
989 Robinson St	0.63mi	2/1.0 (+1)	1,008 (-10%)	14mo	$153,900	$153	37
492 N Prospect St	0.36mi	2/1.0 (+1)	972 (-13%)	23mo	$60,000	$62	37
236 Silver St	0.63mi	2/1.0 (+1)	1,272 (+14%)	8mo	$70,000	$55	37
748 Robinson St	0.62mi	2/1.0 (+1)	1,024 (-8%)	21mo	$150,000	$146	34

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-7,434
• Equity at exit: $16,685

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $7,143
• Equity at exit: $9,675

Cash invested: $31,332 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,042 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$21 /mo · $255/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $169

Break-even live

Break-even rent $829

Max offer price $111,900

Occupancy floor 79%

Sensitivity live

Price	-10% $232	-5% $201	+0% $169	+5% $137	+10% $106
Rent	-10% $87	-5% $128	+0% $169	+5% $210	+10% $251
Rate	-1.0pp $225	-0.5pp $197	base $169	+0.5pp $140	+1.0pp $110

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: $27,975
• Closing costs: $3,357
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Garden St Unit 131 Marion, OH	2.0	1.0	752	$900	$1.20	44d	1	1.01mi

Listing history 35 events

1. 2026-06-19
   days on market $111,900 Active 80 DOM
2. 2026-06-18
   days on market $111,900 Active 79 DOM
3. 2026-06-17
   days on market $111,900 Active 78 DOM
4. 2026-06-16
   days on market $111,900 Active 77 DOM
5. 2026-06-15
   days on market $111,900 Active 76 DOM
6. 2026-06-14
   days on market $111,900 Active 74 DOM
7. 2026-06-12
   days on market $111,900 Active 73 DOM
8. 2026-06-09
   days on market $111,900 Active 70 DOM
9. 2026-06-08
   days on market $111,900 Active 69 DOM
10. 2026-06-07
    pricedays on market $111,900 Active 68 DOM
11. 2026-06-05
    days on market $114,000 Active 65 DOM
12. 2026-06-03
    days on market $114,000 Active 64 DOM
13. 2026-06-02
    days on market $114,000 Active 63 DOM
14. 2026-06-01
    days on market $114,000 Active 62 DOM
15. 2026-05-31
    days on market $114,000 Active 61 DOM
16. 2026-05-30
    days on market $114,000 Active 60 DOM
17. 2026-03-31
    listed $114,000 Active 469-char remark

    Show marketing remark (469 chars)

    Welcome to this beautifully renovated 2-bedroom, 1-bath ranch-style home located just steps from the Marion County Fairgrounds! This charming home offers convenience, comfort, and modern updates throughout. Enjoy peace of mind with a brand-new roof, furnace, AC, and water heater—all recently installed as part of a full renovation. The updated interior features a spacious layout, refreshed finishes, and a bright, functional kitchen perfect for everyday living.

18. 2026-03-24
    historical
19. 2026-01-02
    price $114,000
20. 2026-01-02
    status Active
21. 2026-01-01
    historical
22. 2025-09-09
    price $119,000
23. 2025-08-28
    price $124,000
24. 2025-08-20
    price $129,000
25. 2025-08-13
    price $139,900
26. 2025-08-04
    price $149,900
27. 2025-07-28
    listed $169,900 Active
28. 2025-07-26
    historical
29. 2022-06-10
    soldstatus $12,000 Closed
30. 2022-05-31
    status Pending
31. 2022-05-14
    listed $14,900 Active
32. 2022-02-14
    historical
33. 2022-01-27
    price $14,900
34. 2021-12-17
    price $19,900
35. 2021-11-15
    listed $27,900 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: $255 · $21/mo
• Projected year-2 tax: $1,000 · $83/mo
• Expected delta: +$746/yr (+$62/mo · 292.8%)

ⓘ 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 · 17 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: $12,509
• − Mortgage interest: −$6,268
• − Property taxes: −$255
• − Insurance: −$560
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$3,255
• Taxable income: $170
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $1,986/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

+308.6% since first listed

19 events — show timeline

• 2026-03-31 Listed $114,000 CBRMLS
• 2026-03-24 Listing Removed — CBRMLS
• 2026-01-02 Price Changed $114,000 CBRMLS
• 2026-01-02 Relisted — CBRMLS
• 2026-01-01 Listing Removed — CBRMLS
• 2025-09-09 Price Changed $119,000 CBRMLS
• 2025-08-28 Price Changed $124,000 CBRMLS
• 2025-08-20 Price Changed $129,000 CBRMLS
• 2025-08-13 Price Changed $139,900 CBRMLS
• 2025-08-04 Price Changed $149,900 CBRMLS
• 2025-07-28 Listed $169,900 CBRMLS
• 2025-07-26 Coming Soon — CBRMLS
• 2022-06-10 Sold (MLS) $12,000 CBRMLS
• 2022-05-31 Pending — CBRMLS
• 2022-05-14 Listed $14,900 CBRMLS
• 2022-02-14 Listing Removed — CBRMLS
• 2022-01-27 Price Changed $14,900 CBRMLS
• 2021-12-17 Price Changed $19,900 CBRMLS
• 2021-11-15 Listed $27,900 CBRMLS

Property tax history

+1.9%/yr

Latest (2025): $255 · +0.0% YoY. Source: county tax records.