726 E Madison Ave · Springfield, OH 45503

$105,000

4 bd · 2.5 ba · 2,334 sqft · SingleFamily public records · 38 Days on market

Built 1913 6,000 sqft lot Est $159k · 34% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully rented duplex. Both units have 2 bedrooms and 1 bath. Month to month tenants both units are rented for $750 a month. Please give 48 hours notice for all showings. With some cosmetic improvements and tlc these units could easily increase rent revenue.

Key facts

• 6,000 sq ft lot
• Garage
• Built 1913

🏷️ Possibly a rental listed for sale. The $105,000 price doesn't fit this home's estimated sale value (~$158,712) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 34% of the median local income ($55k/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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $89k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.51%
• DSCR: 1.82
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $158,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
376 Stanton Ave	0.29mi	4/2.0	2,324 (-0%)	19mo	$108,000	$46	68
1007 N Limestone St	0.49mi	4/2.0	2,480 (+6%)	2mo	$50,000	$20	63
315 E Madison Ave	0.34mi	4/2.0	2,116 (-9%)	7mo	$145,000	$69	61
224 E Madison Ave	0.39mi	4/2.0	2,432 (+4%)	15mo	$165,000	$68	60
119 E Mccreight Ave	0.60mi	4/2.0	2,216 (-5%)	2mo	$225,000	$102	60
368 E Madison Ave	0.29mi	3/2.0 (-1)	2,184 (-6%)	14mo	$111,000	$51	57
1507 N Limestone St	0.75mi	4/1.0	2,368 (+2%)	0mo	$200,000	$84	56
1108 N Fountain Blvd	0.67mi	4/1.5	2,324 (-0%)	10mo	$135,000	$58	56
614 Mason St	0.36mi	4/2.0	1,987 (-15%)	8mo	$165,000	$83	49
307 E Northern Ave	0.40mi	3/1.0 (-1)	2,043 (-12%)	3mo	$131,000	$64	47
956 Park Ave	0.58mi	5/1.0 (+1)	2,480 (+6%)	11mo	$155,000	$63	42
1119 Garfield Ave	0.64mi	3/2.0 (-1)	2,052 (-12%)	9mo	$220,000	$107	36

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $11,924
• Equity at exit: $15,656

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $47,798
• Equity at exit: $9,078

Cash invested: $29,400 (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 45503

• Active inventory: 144
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,557 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$182 /mo · $2,187/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $453

Break-even live

Break-even rent $983

Max offer price $105,000

Occupancy floor 66%

Sensitivity live

Price	-10% $513	-5% $483	+0% $453	+5% $424	+10% $394
Rent	-10% $330	-5% $392	+0% $453	+5% $515	+10% $577
Rate	-1.0pp $506	-0.5pp $480	base $453	+0.5pp $426	+1.0pp $399

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	11d	1	0.78mi
534 Homeview Ave Springfield, OH	3.0	1.0	2660	$1,200	$0.45	44d	1	1.20mi

Listing history 9 events

1. 2025-11-24
   status Pending 256-char remark

   Show marketing remark (256 chars)

   Fully rented duplex. Both units have 2 bedrooms and 1 bath. Month to month tenants both units are rented for $750 a month. Please give 48 hours notice for all showings. With some cosmetic improvements and tlc these units could easily increase rent revenue.

2. 2025-10-17
   listed $105,000 Active
3. 2025-10-16
   listed $105,000 Active 256-char remark

   Show marketing remark (256 chars)

   Fully rented duplex. Both units have 2 bedrooms and 1 bath. Month to month tenants both units are rented for $750 a month. Please give 48 hours notice for all showings. With some cosmetic improvements and tlc these units could easily increase rent revenue.

4. 2025-09-27
   historical
5. 2025-09-05
   price $135,000
6. 2025-07-21
   listed $164,900 Active
7. 2009-12-18
   historical
8. 2009-05-18
   listed $62,900
9. 2004-07-21
   soldstatus $89,000

ⓘ 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: $2,187 · $182/mo
• Projected year-2 tax: $2,187 · $182/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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,685
• − Mortgage interest: −$5,882
• − Property taxes: −$2,187
• − Insurance: −$525
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − Depreciation: −$3,055
• Taxable income: $4,048
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $4,471/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.92%
• Current HPI: 257.5694
• 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

+18.0% since first listed

9 events — show timeline

• 2025-11-24 Pending — WRIST
• 2025-10-17 Listed $105,000 Dayton MLS
• 2025-10-16 Listed $105,000 WRIST
• 2025-09-27 Listing Removed — WRIST
• 2025-09-05 Price Changed $135,000 WRIST
• 2025-07-21 Listed $164,900 WRIST
• 2009-12-18 Listing Removed — WRIST
• 2009-05-18 Listed $62,900 WRIST
• 2004-07-21 Sold (Public Records) $89,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,187 · +16.7% YoY. Source: county tax records.