223 S Main St · Columbiana, OH 44408

$182,500

2 bd · 2.0 ba · 1,786 sqft · MultiFamily public records · 99 Days on market

Built 1900 5,401 sqft lot $102/sqft · 5% below area Est $193k · 5% 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
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• 1% rule +7.8/10.0
• Schools +6.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Enjoy old world charm with this lovely home! Main floor consists of a large living room with decorative fireplace, formal dining room, kitchen plus pantry/kitchen, sunroom and full bath. the second floor consists of two bedrooms and a full bath. The third bedroom was converted to a second floor laundry. New furnace, central air and electric in 2017. New water and gas lines from the street in 2017. Main house roof was done in 2025. Back porch roof done in 2026.Vented glass block windows in the basement. Property is zoned both residential and commercial, so the possibilities are endless!

Key facts

• New furnace
• Decorative fireplace
• Pantry kitchen

Tags

• DECORATIVE FIREPLACE
• PANTRY KITCHEN
• SUNROOM
• SECOND FLOOR LAUNDRY
• NEW FURNACE
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $182k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Recommended offer: $166k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 4.6% in Columbiana — 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 71/100 on livability (#427 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Columbiana Exempted Village (town): math 73% / reading 81% proficiency, ranked #84 of 656 in OH (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 55 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 49 units permitted in Columbiana County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Columbiana County population projected at -23% 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 $51k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $26k; list at $182k implies a 602% 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 $166,075 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 A-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 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: 1.28% ✓
• Cap rate: 11.09%
• Cash-on-cash: 17.14%
• DSCR: 1.76
• GRM: 6.5

CMA / ARV

• ARV (median comp): $192,542
• List price: $182,500
• Delta: -5.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 E Salem St	0.54mi	3/2.0 (+1)	1,984 (+11%)	3mo	$215,000	$108	49

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: 8.4%
• Equity multiple: 1.33×
• Total profit: $16,853
• Equity at exit: $27,211

10-year hold

• IRR: 17.6%
• Equity multiple: 2.45×
• Total profit: $74,304
• Equity at exit: $15,779

Cash invested: $51,100 (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 44408

• Home prices YoY: -30.7%
• Active inventory: 55
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,335 high
• Mortgage (P&I): −$957
• Tax from tax record: −$82 /mo · $979/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $730

Break-even live

Break-even rent $1,411

Max offer price $182,500

Occupancy floor 64%

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 E Duquesne St Unit A Columbiana, OH	3.0	2.0	2272	$1,500	$0.66	44d	1	0.34mi
1 Jenny LN Columbiana, OH	2.0	1.0–2.0	1242	$2,045	$1.65	2d	7	1.06mi
113 Harbor Pt Columbiana, OH	2.0	2.5	1697	$2,500	$1.47	20d	1	1.17mi
27 Town Square Blvd Columbiana, OH	2.0	1.5	1370	$2,200	$1.61	12d	1	1.23mi
179 Lakeshore Ct Columbiana, OH	2.0	2.0	1276	$2,200	$1.72	12d	1	1.33mi
14550 South Ave Unit 214 Columbiana, OH	3.0	2.5	1656	$2,650	$1.60	12d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $182,500 Active 99 DOM
2. 2026-06-17
   days on market $182,500 Active 98 DOM
3. 2026-06-16
   days on market $182,500 Active 97 DOM
4. 2026-06-15
   days on market $182,500 Active 96 DOM
5. 2026-06-13
   days on market $182,500 Active 94 DOM
6. 2026-06-12
   days on market $182,500 Active 93 DOM
7. 2026-06-09
   days on market $182,500 Active 90 DOM
8. 2026-06-08
   days on market $182,500 Active 89 DOM
9. 2026-06-08
   days on market $182,500 Active 88 DOM
10. 2026-06-07
    days on market $182,500 Active 87 DOM
11. 2026-06-04
    days on market $182,500 Active 84 DOM
12. 2026-06-02
    days on market $182,500 Active 83 DOM
13. 2026-06-01
    days on market $182,500 Active 82 DOM
14. 2026-05-31
    days on market $182,500 Active 81 DOM
15. 2026-03-11
    listed $182,500 Active 596-char remark

    Show marketing remark (596 chars)

    Enjoy old world charm with this lovely home! Main floor consists of a large living room with decorative fireplace, formal dining room, kitchen plus pantry/kitchen, sunroom and full bath. the second floor consists of two bedrooms and a full bath. The third bedroom was converted to a second floor laundry. New furnace, central air and electric in 2017. New water and gas lines from the street in 2017. Main house roof was done in 2025. Back porch roof done in 2026.Vented glass block windows in the basement. Property is zoned both residential and commercial, so the possibilities are endless!

16. 2019-06-24
    price $79,900
17. 2019-04-30
    price $89,900
18. 2019-02-15
    price $94,500
19. 2018-12-18
    listed $99,900 Active
20. 2017-06-12
    soldstatus $26,000
21. 2013-09-06
    soldstatus $14,620
22. 2013-06-13
    historical
23. 2013-06-12
    listed $15,000
24. 2013-03-15
    listed $25,000

ⓘ 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: $979 · $82/mo
• Projected year-2 tax: $1,913 · $159/mo
• Expected delta: +$934/yr (+$78/mo · 95.4%)

ⓘ 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 ≥95°F today · 18 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: $28,017
• − Mortgage interest: −$10,223
• − Property taxes: −$979
• − Insurance: −$912
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$5,309
• Taxable income: $6,111
• Est. tax owed @ 24.0%: −$1,467
• After-tax cash flow: $7,291/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: Columbiana Exempted Village
• NCES district ID: 3904532
• Math proficiency: 73% ▼ -5.00%
• Reading proficiency: 81% ▼ -2.00%
• Median HH income: $48,052
• Composite: 64.96/100
• National rank: #507
• State rank: #84 of 656 in OH

Livability — Columbiana

• Score: 71/100
• State rank: #427
• US rank: #6997

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbiana, OH
• County: Columbiana · 99,532 people
• City population: 10,924
• Population (ZIP): 10,924
• Household income: $71,205
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 10.0

Population outlook (Columbiana County) Hauer SSP2

• Today (2025): 98,353 people
• By 2030: 94,225 · -4.2%
• By 2040: 85,169 · -13.4%
• By 2050: 76,157 · -22.6%
• By 2075: 58,451 · -40.6%
• By 2100: 42,805 · -56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Asian 2% Two or more races 1%
• Common ancestry: Romanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Vietnamese 2% Spanish 1%

Political lean MEDSL · Columbiana

• 2024 margin: Solid R (+49.0) · D 25.1% · R 74.1%
• 2008→2024 swing: -41.4pp toward R · 2008: -7.6pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+44.9 2016: R+41.6 2012: R+12.0 2008: R+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.83%
• Current HPI: 227.4173
• 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

+630.0% since first listed

10 events — show timeline

• 2026-03-11 Listed $182,500 MLSNOW
• 2019-06-24 Price Changed $79,900 MLSNOW
• 2019-04-30 Price Changed $89,900 MLSNOW
• 2019-02-15 Price Changed $94,500 MLSNOW
• 2018-12-18 Listed $99,900 MLSNOW
• 2017-06-12 Sold (Public Records) $26,000 Public Records
• 2013-09-06 Sold (MLS) $14,620 MLSNOW
• 2013-06-13 Listing Removed — MLSNOW
• 2013-06-12 Listed $15,000 MLSNOW
• 2013-03-15 Listed $25,000 MLSNOW

Property tax history

+1.2%/yr

Latest (2025): $979 · +20.4% YoY. Source: county tax records.