604 E Gambier St · Mount Vernon, OH 43050

$200,000

4 bd · 2.0 ba · 3,529 sqft · SingleFamily public records · 84 Days on market

Built 1910 0.29 ac lot $57/sqft · 43% below area Est $354k · 43% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recent price improvement presents a strong opportunity with a motivated seller. This one has the bones, the location, and the price point to make it worth every bit of effort. Set on a prime lot with a fully fenced backyard, this 5-bedroom, 2 full bath, home is ready for the buyer who knows a good opportunity when they see one. Original hardwood floors and classic woodwork throughout the first floor speak to the craftsmanship of a bygone era -- and give you a stunning foundation to work from. The kitchen and bathrooms have seen updates over the years and are functional, but they're ready for someone with a vision to take them to the next level. Central air conditioning is already in place, and the fenced backyard is done. The wide-staircase walk-up attic adds another 1,000+ sq ft of finishable space -- bonus potential that's hard to find at this price. If you're an investor or an owner occupant looking for a labor of love in a location that delivers, this is your home. The value is here. Bring your vision!

Key facts

• 0.29 acre lot
• Built 1910
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (21.8% below list).
• Recommended offer: $156k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.0% in Mount Vernon — 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 76/100 on livability (#227 in OH, #3,542 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Mount Vernon City (town): math 55% / reading 62% proficiency, ranked #321 of 656 in OH (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 161 active listings in the ZIP; 195 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,393 (21.8% 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 84 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (median comp): $353,806
• List price: $200,000
• Delta: -43.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 1/2 E High St	0.25mi	4/2.0	3,202 (-9%)	13mo	$339,900	$106	62
943 E High St	0.56mi	3/3.0 (-1)	3,400 (-4%)	10mo	$325,000	$96	50
304 E Gambier St	0.31mi	4/3.5	3,168 (-10%)	22mo	$345,000	$109	44

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: -21.9%
• Equity multiple: 0.24×
• Total profit: $-42,374
• Equity at exit: $29,821

10-year hold

• IRR: -15.7%
• Equity multiple: 0.11×
• Total profit: $-49,648
• Equity at exit: $17,292

Cash invested: $56,000 (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 43050

• Active inventory: 161
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,564 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$260 /mo · $3,124/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-157

Break-even live

Break-even rent $1,763

Max offer price $172,276

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $200,000 Active 84 DOM
2. 2026-06-17
   days on market $200,000 Active 83 DOM
3. 2026-06-16
   days on market $200,000 Active 82 DOM
4. 2026-06-15
   days on market $200,000 Active 81 DOM
5. 2026-06-13
   days on market $200,000 Active 79 DOM
6. 2026-06-12
   days on market $200,000 Active 78 DOM
7. 2026-06-09
   days on market $200,000 Active 75 DOM
8. 2026-06-08
   days on market $200,000 Active 74 DOM
9. 2026-06-08
   days on market $200,000 Active 73 DOM
10. 2026-06-07
    days on market $200,000 Active 72 DOM
11. 2026-06-04
    days on market $200,000 Active 69 DOM
12. 2026-06-02
    days on market $200,000 Active 68 DOM
13. 2026-06-01
    days on market $200,000 Active 67 DOM
14. 2026-05-31
    days on market $200,000 Active 66 DOM
15. 2026-05-12
    price $200,000 1021-char remark

    Show marketing remark (1021 chars)

    Recent price improvement presents a strong opportunity with a motivated seller. This one has the bones, the location, and the price point to make it worth every bit of effort. Set on a prime lot with a fully fenced backyard, this 5-bedroom, 2 full bath, home is ready for the buyer who knows a good opportunity when they see one. Original hardwood floors and classic woodwork throughout the first floor speak to the craftsmanship of a bygone era -- and give you a stunning foundation to work from. The kitchen and bathrooms have seen updates over the years and are functional, but they're ready for someone with a vision to take them to the next level. Central air conditioning is already in place, and the fenced backyard is done. The wide-staircase walk-up attic adds another 1,000+ sq ft of finishable space -- bonus potential that's hard to find at this price. If you're an investor or an owner occupant looking for a labor of love in a location that delivers, this is your home. The value is here. Bring your vision!

16. 2026-04-29
    price $220,000 1021-char remark

    Show marketing remark (1021 chars)

    Recent price improvement presents a strong opportunity with a motivated seller. This one has the bones, the location, and the price point to make it worth every bit of effort. Set on a prime lot with a fully fenced backyard, this 5-bedroom, 2 full bath, home is ready for the buyer who knows a good opportunity when they see one. Original hardwood floors and classic woodwork throughout the first floor speak to the craftsmanship of a bygone era -- and give you a stunning foundation to work from. The kitchen and bathrooms have seen updates over the years and are functional, but they're ready for someone with a vision to take them to the next level. Central air conditioning is already in place, and the fenced backyard is done. The wide-staircase walk-up attic adds another 1,000+ sq ft of finishable space -- bonus potential that's hard to find at this price. If you're an investor or an owner occupant looking for a labor of love in a location that delivers, this is your home. The value is here. Bring your vision!

17. 2026-03-26
    listed $225,000 Active 1021-char remark

    Show marketing remark (1021 chars)

    Recent price improvement presents a strong opportunity with a motivated seller. This one has the bones, the location, and the price point to make it worth every bit of effort. Set on a prime lot with a fully fenced backyard, this 5-bedroom, 2 full bath, home is ready for the buyer who knows a good opportunity when they see one. Original hardwood floors and classic woodwork throughout the first floor speak to the craftsmanship of a bygone era -- and give you a stunning foundation to work from. The kitchen and bathrooms have seen updates over the years and are functional, but they're ready for someone with a vision to take them to the next level. Central air conditioning is already in place, and the fenced backyard is done. The wide-staircase walk-up attic adds another 1,000+ sq ft of finishable space -- bonus potential that's hard to find at this price. If you're an investor or an owner occupant looking for a labor of love in a location that delivers, this is your home. The value is here. Bring your vision!

18. 2026-03-05
    historical $225,000 1021-char remark

    Show marketing remark (1021 chars)

    Recent price improvement presents a strong opportunity with a motivated seller. This one has the bones, the location, and the price point to make it worth every bit of effort. Set on a prime lot with a fully fenced backyard, this 5-bedroom, 2 full bath, home is ready for the buyer who knows a good opportunity when they see one. Original hardwood floors and classic woodwork throughout the first floor speak to the craftsmanship of a bygone era -- and give you a stunning foundation to work from. The kitchen and bathrooms have seen updates over the years and are functional, but they're ready for someone with a vision to take them to the next level. Central air conditioning is already in place, and the fenced backyard is done. The wide-staircase walk-up attic adds another 1,000+ sq ft of finishable space -- bonus potential that's hard to find at this price. If you're an investor or an owner occupant looking for a labor of love in a location that delivers, this is your home. The value is here. Bring your vision!

19. 2024-05-23
    historical 646-char remark

    Show marketing remark (646 chars)

    Location, charm and value is what you will find with this 4 bedroom, 2 fully update bathrooms 3000sq ft home perfect for someone seeking a prime location at an affordable price. First floor features large foyer, new cabinet filled kitchen with granite counter tops, stainless steel appliances, living room, formal dining room and nice size office, hardwood floors, and original woodwork. Second story had been updated with new carpet throughout and features 4 large bedrooms, second full bathroom. Bonus finish-able walk-up wide staircase attic boasting 1000+/- sq feet of additional living space available. Don’t miss this exceptional buy.

20. 2022-10-20
    soldstatus $185,000
21. 2022-10-19
    soldstatus $185,000 Closed
22. 2022-09-06
    historical Contingent Finance and Inspection
23. 2022-08-23
    status Active
24. 2022-08-18
    historical Contingent Finance and Inspection
25. 2022-08-17
    price $195,000
26. 2022-08-16
    status Active
27. 2022-07-11
    historical Contingent Finance and Inspection
28. 2022-07-11
    historical
29. 2022-07-08
    price $205,000
30. 2022-06-17
    listed $225,000 Active

    Show marketing remark (646 chars)

    Location, charm and value is what you will find with this 4 bedroom, 2 fully update bathrooms 3000sq ft home perfect for someone seeking a prime location at an affordable price. First floor features large foyer, new cabinet filled kitchen with granite counter tops, stainless steel appliances, living room, formal dining room and nice size office, hardwood floors, and original woodwork. Second story had been updated with new carpet throughout and features 4 large bedrooms, second full bathroom. Bonus finish-able walk-up wide staircase attic boasting 1000+/- sq feet of additional living space available. Don’t miss this exceptional buy.

31. 2022-06-17
    listed $195,000 646-char remark

    Show marketing remark (646 chars)

    Location, charm and value is what you will find with this 4 bedroom, 2 fully update bathrooms 3000sq ft home perfect for someone seeking a prime location at an affordable price. First floor features large foyer, new cabinet filled kitchen with granite counter tops, stainless steel appliances, living room, formal dining room and nice size office, hardwood floors, and original woodwork. Second story had been updated with new carpet throughout and features 4 large bedrooms, second full bathroom. Bonus finish-able walk-up wide staircase attic boasting 1000+/- sq feet of additional living space available. Don’t miss this exceptional buy.

32. 2022-06-10
    historical $225,000
33. 2019-04-12
    soldstatus $105,000
34. 2019-04-12
    soldstatus $105,000
35. 2018-11-23
    listed $117,900
36. 2009-07-27
    soldstatus $110,000

ⓘ 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: $3,124 · $260/mo
• Projected year-2 tax: $3,124 · $260/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,767
• − Mortgage interest: −$11,203
• − Property taxes: −$3,124
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$5,818
• Taxable loss: −$5,380
• Est. tax savings @ 24.0%: +$1,291
• After-tax cash flow: $-592/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: Mount Vernon City
• NCES district ID: 3910012
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $44,253
• Composite: 49.26/100
• National rank: #2029
• State rank: #321 of 656 in OH

Livability — Mount Vernon

• Score: 76/100
• State rank: #227
• US rank: #3542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, OH
• County: Knox · 63,297 people
• City population: 30,360
• Population (ZIP): 30,360
• Household income: $65,044
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 12.7

Population outlook (Knox County) Hauer SSP2

• Today (2025): 60,036 people
• By 2030: 58,670 · -2.3%
• By 2040: 54,963 · -8.4%
• By 2050: 51,353 · -14.5%
• By 2075: 43,196 · -28.0%
• By 2100: 34,514 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+44.9) · D 27.1% · R 72.0%
• 2008→2024 swing: -25.0pp toward R · 2008: -19.9pp · 2024: -44.9pp
• All cycles: 2024: R+44.9 2020: R+43.8 2016: R+38.2 2012: R+24.3 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.50%
• Current HPI: 304.4254
• 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

+81.8% since first listed

22 events — show timeline

• 2026-05-12 Price Changed $200,000 CBRMLS
• 2026-04-29 Price Changed $220,000 CBRMLS
• 2026-03-26 Listed $225,000 CBRMLS
• 2026-03-05 Coming Soon $225,000 CBRMLS
• 2024-05-23 Delisted — KCBOR
• 2022-10-20 Sold (Public Records) $185,000 Public Records
• 2022-10-19 Sold (MLS) $185,000 CBRMLS
• 2022-09-06 Contingent — CBRMLS
• 2022-08-23 Relisted — CBRMLS
• 2022-08-18 Contingent — CBRMLS
• 2022-08-17 Price Changed $195,000 CBRMLS
• 2022-08-16 Relisted — CBRMLS
• 2022-07-11 Contingent — CBRMLS
• 2022-07-11 Listing Removed — CBRMLS
• 2022-07-08 Price Changed $205,000 CBRMLS
• 2022-06-17 Listed $225,000 CBRMLS
• 2022-06-17 Listed $195,000 KCBOR
• 2022-06-10 Coming Soon $225,000 CBRMLS
• 2019-04-12 Sold (Public Records) $105,000 Public Records
• 2019-04-12 Sold (MLS) $105,000 CBRMLS
• 2018-11-23 Listed $117,900 CBRMLS
• 2009-07-27 Sold (Public Records) $110,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $3,124 · -2.2% YoY. Source: county tax records.