129-1291/2 W Washington St · Athens, OH 45701

$175,000

2 bd · 2.0 ba · 1,320 sqft · MultiFamily public records · 17 Days on market

Built 1930 2,614 sqft lot

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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
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.3/5.0
• 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

ITS HARD TO FIND A DUPLEX - But I did it and its only a one-minute walk to the Cider House (home of the Black Manhattan Cocktail) each unit has 2 bedrooms, 1 bath, kitchen, living room, and washer/dryer, deck, patio. Easy walk, bus ride or bike to everything O. U. and downtown Athens. How much you say? $ 175,000.00 * * 48 hours' notice to show * * Generates $ 18,000.00 income

Key facts

• Deck
• Patio
• 2,614 sq ft lot

Tags

• DECK
• PATIO
• EASY WALK TO DOWNTOWN ATHENS

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Single story; Residential zoning (R-2)
• Construction: Brick and vinyl siding exterior; Brick/mortar foundation; Metal roof; Built as residential single family
• Exterior features: Deck; Patio

Interior

• Kitchen: Electric range; Electric oven; Refrigerator; Laminate counters
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating with forced air; Central air conditioning
• Interior features: Laminate counters; Finished basement
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 2.8% in Athens — 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 86/100 on livability (#37 in OH, #350 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment F.
• Athens City (town): math 50% / reading 61% proficiency, ranked #393 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 5 units permitted in Athens County in 2024 (0 in 5+ unit buildings).
• At $2,370/mo this rent would consume 54% of the median local household income ($53k/yr) (locally 2145% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Athens County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $175k implies a 586% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.35% ✓
• Cap rate: 11.33%
• Cash-on-cash: 17.98%
• DSCR: 1.80
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.5%
• Equity multiple: 1.38×
• Total profit: $18,397
• Equity at exit: $26,093

10-year hold

• IRR: 18.7%
• Equity multiple: 2.56×
• Total profit: $76,202
• Equity at exit: $15,131

Cash invested: $49,000 (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 45701

• Active inventory: 112
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,370 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$147 /mo · $1,769/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $734

Break-even live

Break-even rent $1,441

Max offer price $175,000

Occupancy floor 64%

Sensitivity live

Price	-10% $833	-5% $784	+0% $734	+5% $685	+10% $635
Rent	-10% $547	-5% $641	+0% $734	+5% $828	+10% $921
Rate	-1.0pp $822	-0.5pp $779	base $734	+0.5pp $689	+1.0pp $643

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,370
Total (2 units)			$2,370

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Monticello Dr Athens, OH	2.0–3.0	1.0–2.0	1318	$1,190	$0.90	45d	1	1.27mi
9327 Saint RTE Athens, OH	1.0–3.0	1.0–2.0	901	$811	$0.90	45d	7	1.41mi
8462 Luhrig Rd Athens, OH	3.0	2.0	1118	$893	$0.80	45d	1	1.42mi

Listing history 12 events

1. 2026-06-21
   days on market $175,000 Active 17 DOM
2. 2026-06-19
   days on market $175,000 Active 15 DOM
3. 2026-06-18
   days on market $175,000 Active 14 DOM
4. 2026-06-17
   days on market $175,000 Active 13 DOM
5. 2026-06-16
   days on market $175,000 Active 12 DOM
6. 2026-06-15
   days on market $175,000 Active 11 DOM
7. 2026-06-14
   days on market $175,000 Active 9 DOM
8. 2026-06-12
   days on market $175,000 Active 8 DOM
9. 2026-06-09
   days on market $175,000 Active 5 DOM
10. 2026-06-08
    days on market $175,000 Active 4 DOM
11. 2026-06-07
    remarks 383-char remark
12. 2026-06-07
    listed $175,000 Active 3 DOM

ⓘ 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: $1,769 · $147/mo
• Projected year-2 tax: $2,250 · $187/mo
• Expected delta: +$480/yr (+$40/mo · 27.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,440
• − Mortgage interest: −$9,803
• − Property taxes: −$1,769
• − Insurance: −$875
• − Repairs & maintenance: −$2,275
• − Management: −$2,275
• − Depreciation: −$5,091
• Taxable income: $6,352
• Est. tax owed @ 24.0%: −$1,524
• After-tax cash flow: $7,286/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: Athens City
• NCES district ID: 3904352
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 61% ▼ -5.00%
• Median HH income: $30,360
• Composite: 45.43/100
• National rank: #2620
• State rank: #393 of 656 in OH

Livability — Athens

• Score: 86/100
• State rank: #37
• US rank: #350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, OH
• County: Athens County · 33,329 people
• City population: 33,329
• Metro: Athens, OH
• Population (ZIP): 33,329
• Household income: $53,075
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2145.0

Population outlook (Athens County) Hauer SSP2

• Today (2025): 71,867 people
• By 2030: 73,556 · +2.4%
• By 2040: 74,528 · +3.7%
• By 2050: 74,947 · +4.3%
• By 2075: 77,996 · +8.5%
• By 2100: 81,619 · +13.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 2%
• Foreign-born: 6% · China, Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Arabic 1% Chinese 1%

Political lean MEDSL · Athens

• 2024 margin: D (+10.8) · D 54.9% · R 44.2%
• 2008→2024 swing: -24.5pp toward R · 2008: 35.3pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.0 2016: D+16.9 2012: D+35.0 2008: D+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -157.24%
• Current HPI: 181.6919
• Rent YoY: —
• Metro: Athens, 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

+586.3% since first listed

2 events — show timeline

• 2026-06-04 Listed $175,000 ACBOR
• 2001-11-30 Sold (Public Records) $25,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,769 · +0.9% YoY. Source: county tax records.