707 E Second St · Manchester, OH 45144

$115,000

4 bd · 1.0 ba · 1,069 sqft · SingleFamily public records · 55 Days on market

Built 1901 0.35 ac lot Est $115k · at est.

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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).

• Cash flow +14.3/30.0
• ARV discount +7.7/15.0
• Appreciation +5.5/10.0
• DSCR +4.3/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Country living with this 3-bedroom home situated on 0.347 acres offering spacious yards and plenty of room to enjoy the outdoors. The home features a versatile loft and dedicated office space, perfect for working from home or additional living needs. The property also includes a concrete workshop building with its own office space, a one-car garage, and an additional storage shed ideal for hobbies, projects, or extra storage. Conveniently located just minutes from a local park and boating dock. Situated near Ohio River and Manchester Islands. Easy access to Shawnee State Park and scenic trails for outdoor recreation. Don't miss this opportunity to own a peaceful country retreat with so mu

Key facts

• 0.35 acre lot
• Garage
• Built 1901

Property features AI

Finance

• Other: Residential zoning; Approximately 0.35 acre lot (.5 to .9 acres listed); Directions: st rt 32 then right on st rt 136 in winchester
• HOA & community: No HOA

Exterior

• Parking: Detached garage; Detached carport; Driveway; 1 garage space
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional style; Single family; Two levels
• Construction: Vinyl siding; Metal roof; Block foundation; Built with traditional construction materials
• Exterior features: Level topography; Shed; Workshop; Aluminum windows

Interior

• Kitchen: Kitchen: 15 x 15; Dining room: 15 x 15; Living room / great room: 15 x 15; Appliances included: Refrigerator
• Bedrooms: 3 bedrooms total; Primary bedroom: 15 x 10 (level 1); Bedroom 2: 15 x 10 (level 1); Bedroom 3: 20 x 10 (level 1)
• Bathrooms: 1 full bathroom (level 1)
• Heating & cooling: Central air; Electric heating; Gas heating; Electric water heater
• Interior features: 7 total rooms; Crawl basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-46 ($-552/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (20.7% below list).
• Recommended offer: $91k (20.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#957 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: schools C-, health & safety C-, amenities F.
• Manchester Local (rural): math 38% / reading 55% proficiency, ranked #497 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 37 active listings in the ZIP; lower-income renter base — watch delinquency; 42 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($795 loan paydown + $1k appreciation (1.0% local appreciation)).
• Adams County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,237 (20.7% 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 55 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1901 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.79% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $115,452
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
732 Easy St	0.25mi	3/2.0 (-1)	1,184 (+11%)	3mo	$127,500	$108	59
516 E Eighth St	0.35mi	3/1.0 (-1)	1,160 (+8%)	14mo	$121,500	$105	53

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

Projected returns pro-forma

0.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.97×
• Total profit: $-986
• Equity at exit: $39,043

10-year hold

• IRR: 4.3%
• Equity multiple: 1.52×
• Total profit: $16,700
• Equity at exit: $51,719

Cash invested: $32,200 (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 45144

• Home prices YoY: 0.5%
• Active inventory: 37
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $912 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$49 /mo · $592/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $-46

Break-even live

Break-even rent $971

Max offer price $106,872

Occupancy floor —

Sensitivity live

Price	-10% $19	-5% $-13	+0% $-46	+5% $-79	+10% $-111
Rent	-10% $-118	-5% $-82	+0% $-46	+5% $-10	+10% $26
Rate	-1.0pp $12	-0.5pp $-17	base $-46	+0.5pp $-76	+1.0pp $-106

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $115,000 Active 55 DOM
2. 2026-06-17
   days on market $115,000 Active 54 DOM
3. 2026-06-16
   days on market $115,000 Active 53 DOM
4. 2026-06-15
   days on market $115,000 Active 52 DOM
5. 2026-06-14
   days on market $115,000 Active 50 DOM
6. 2026-06-10
   days on market $115,000 Active 47 DOM
7. 2026-06-09
   days on market $115,000 Active 46 DOM
8. 2026-06-08
   days on market $115,000 Active 45 DOM
9. 2026-06-07
   pricedays on market $115,000 Active 44 DOM
10. 2026-06-03
    days on market $121,000 Active 40 DOM
11. 2026-06-02
    days on market $121,000 Active 39 DOM
12. 2026-06-01
    days on market $121,000 Active 38 DOM
13. 2026-05-31
    days on market $121,000 Active 37 DOM
14. 2026-05-31
    days on market $121,000 Active 36 DOM
15. 2026-04-25
    listed $121,000 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: $592 · $49/mo
• Projected year-2 tax: $1,193 · $99/mo
• Expected delta: +$601/yr (+$50/mo · 101.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 79% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,948
• − Mortgage interest: −$6,442
• − Property taxes: −$592
• − Insurance: −$1,372
• − Repairs & maintenance: −$876
• − Management: −$876
• − Depreciation: −$3,345
• Taxable loss: −$2,555
• Est. tax savings @ 24.0%: +$613
• After-tax cash flow: $61/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: Manchester Local
• NCES district ID: 3900537
• Math proficiency: 38% ▼ -20.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $33,374
• Composite: 38.23/100
• National rank: #4246
• State rank: #497 of 656 in OH

Livability — Manchester

• Score: 61/100
• State rank: #957
• US rank: #18445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, OH
• County: Adams · 32,832 people
• Population (ZIP): 4,256
• Household income: $43,896
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 9.5

Population outlook (Adams County) Hauer SSP2

• Today (2025): 26,467 people
• By 2030: 25,354 · -4.2%
• By 2040: 22,951 · -13.3%
• By 2050: 20,394 · -22.9%
• By 2075: 14,824 · -44.0%
• By 2100: 9,909 · -62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+65.7) · D 16.9% · R 82.6%
• 2008→2024 swing: -41.6pp toward R · 2008: -24.1pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+63.5 2016: R+55.6 2012: R+26.3 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.96%
• Current HPI: 189.9563
• 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

1 event — show timeline

• 2026-04-25 Listed $121,000 Cincy MLS

Property tax history

+143.4%/yr

Latest (2025): $592 · +12.1% YoY. Source: county tax records.