100 Sprague St · Willshire, OH 45898

$74,900

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 225 Days on market

Built 1862 $76/sqft · 7% below area Est $138k · 46% under ↓ 14% since listing

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Why this score? — see what drove the A- 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• Appreciation +8.1/10.0
• 1% rule +7.3/10.0
• Schools +6.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for a fixer upper, this is an investors dream sitting on 0.51 acres cleaned out inside and ready to finish. Also a building that had an HVAC business in it, and a one car garage attached. The lot the home sits on is a very private area fells like being in the country come check it out!!!!!!!!!!!! THIS HOME IS NOT A FORECLOSURE !!!!!!!

Key facts

• One car garage
• Private area
• Garage

Tags

• PRIVATE AREA
• ONE CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $58k (22.2% below list).
• Meets the 1% rule at list price ($920 rent vs $75k).
• Recommended offer: $58k (22.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 56/100 on livability (#1,110 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime D-.
• Parkway Local (rural): math 76% / reading 76% proficiency, ranked #96 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 44 units permitted in Van Wert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($518 loan paydown + $5k appreciation (6.2% local appreciation)).
• Van Wert County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1862 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,249 (22.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1862 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.23% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.56%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (median comp): $137,535
• List price: $74,900
• Delta: -45.54%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 South St	0.43mi	3/1.0 (+1)	1,000 (+2%)	8mo	$75,000	$75	66
610 Fort Recovery Rd	0.37mi	3/1.0 (+1)	1,078 (+10%)	1mo	$145,000	$135	61
622 Rockford Rd	0.48mi	3/1.0 (+1)	1,040 (+6%)	13mo	$125,000	$120	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.79×
• Total profit: $16,627
• Equity at exit: $47,941

10-year hold

• IRR: 12.5%
• Equity multiple: 3.57×
• Total profit: $53,800
• Equity at exit: $87,687

Cash invested: $20,972 (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 45898

• Home prices YoY: 2.3%
• Active inventory: 4
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $920 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$83 /mo · $999/yr
• Insurance: −$31
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $-94

Break-even live

Break-even rent $1,039

Max offer price $58,249

Occupancy floor —

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $74,900 Active 225 DOM
2. 2026-06-18
   price $74,900 Active 224 DOM
3. 2026-06-17
   days on market $79,900 Active 224 DOM
4. 2026-06-16
   days on market $79,900 Active 223 DOM
5. 2026-06-15
   days on market $79,900 Active 222 DOM
6. 2026-06-13
   days on market $79,900 Active 220 DOM
7. 2026-06-12
   days on market $79,900 Active 219 DOM
8. 2026-06-09
   days on market $79,900 Active 216 DOM
9. 2026-06-08
   days on market $79,900 Active 215 DOM
10. 2026-06-08
    days on market $79,900 Active 214 DOM
11. 2026-06-05
    days on market $79,900 Active 212 DOM
12. 2026-06-04
    days on market $79,900 Active 210 DOM
13. 2026-06-02
    days on market $79,900 Active 209 DOM
14. 2026-06-01
    days on market $79,900 Active 208 DOM
15. 2026-05-31
    days on market $79,900 Active 207 DOM
16. 2026-02-02
    price $84,900 344-char remark

    Show marketing remark (344 chars)

    Looking for a fixer upper, this is an investors dream sitting on 0.51 acres cleaned out inside and ready to finish. Also a building that had an HVAC business in it, and a one car garage attached. The lot the home sits on is a very private area fells like being in the country come check it out!!!!!!!!!!!! THIS HOME IS NOT A FORECLOSURE !!!!!!!

17. 2025-12-18
    price $89,900 344-char remark

    Show marketing remark (344 chars)

    Looking for a fixer upper, this is an investors dream sitting on 0.51 acres cleaned out inside and ready to finish. Also a building that had an HVAC business in it, and a one car garage attached. The lot the home sits on is a very private area fells like being in the country come check it out!!!!!!!!!!!! THIS HOME IS NOT A FORECLOSURE !!!!!!!

18. 2025-11-26
    price $94,000 344-char remark

    Show marketing remark (344 chars)

    Looking for a fixer upper, this is an investors dream sitting on 0.51 acres cleaned out inside and ready to finish. Also a building that had an HVAC business in it, and a one car garage attached. The lot the home sits on is a very private area fells like being in the country come check it out!!!!!!!!!!!! THIS HOME IS NOT A FORECLOSURE !!!!!!!

19. 2025-11-05
    listed $99,000 Active 344-char remark

    Show marketing remark (344 chars)

    Looking for a fixer upper, this is an investors dream sitting on 0.51 acres cleaned out inside and ready to finish. Also a building that had an HVAC business in it, and a one car garage attached. The lot the home sits on is a very private area fells like being in the country come check it out!!!!!!!!!!!! THIS HOME IS NOT A FORECLOSURE !!!!!!!

ⓘ 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: $999 · $83/mo
• Projected year-2 tax: $1,084 · $90/mo
• Expected delta: +$85/yr (+$7/mo · 8.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,040
• − Mortgage interest: −$4,196
• − Property taxes: −$999
• − Insurance: −$4,140
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$2,179
• Taxable loss: −$2,240
• Est. tax savings @ 24.0%: +$538
• After-tax cash flow: $-593/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: Parkway Local
• NCES district ID: 3904857
• Math proficiency: 76% ▼ -7.00%
• Reading proficiency: 76% ▼ -2.00%
• Median HH income: $47,796
• Composite: 64.14/100
• National rank: #569
• State rank: #96 of 656 in OH

Livability — Willshire

• Score: 56/100
• State rank: #1110
• US rank: #22631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willshire, OH
• County: Van Wert · 34,605 people
• Population (ZIP): 908
• Household income: $54,063
• Rent vs Own: 18.0% rent · 82.0% own

Population outlook (Van Wert County) Hauer SSP2

• Today (2025): 28,235 people
• By 2030: 27,793 · -1.6%
• By 2040: 26,650 · -5.6%
• By 2050: 25,251 · -10.6%
• By 2075: 22,247 · -21.2%
• By 2100: 18,559 · -34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 1% Iranian 1%
• Foreign-born: 1%

Political lean MEDSL · Van Wert

• 2024 margin: Solid R (+58.5) · D 20.4% · R 78.9%
• 2008→2024 swing: -31.3pp toward R · 2008: -27.2pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+57.4 2016: R+56.4 2012: R+40.5 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.18%
• Current HPI: 272.2168
• 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

-14.2% since first listed

4 events — show timeline

• 2026-02-02 Price Changed $84,900 WCARE
• 2025-12-18 Price Changed $89,900 WCARE
• 2025-11-26 Price Changed $94,000 WCARE
• 2025-11-05 Listed $99,000 WCARE

Property tax history

-0.5%/yr

Latest (2025): $999 · +0.6% YoY. Source: county tax records.