199 Olney Ave · Marion, OH 43302

$59,000

3 bd · 1.0 ba · 2,536 sqft · SingleFamily public records · 61 Days on market

Built 1881 8,712 sqft lot $23/sqft · 56% below area ↓ 26% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

POTENTIAL UNLIMITED: FLIP OR RESTORE! The Character: Incredible, stellar original woodwork throughout that commands attention and serves as a centerpiece for any renovation. The Scale: Exceptionally large floor plan with expansive rooms and a layout that invites creative reconfiguration. The Perks: Features both a detached garage and an additional shed, offering rare utility and storage options for this area. The Value: Exceptional 'After Repair Value' potential for those looking to build equity through restoration. being sold 'as is'

Key facts

• Expansive rooms
• Original woodwork
• Detached garage

Tags

• ORIGINAL WOODWORK
• DETACHED GARAGE
• ADDITIONAL SHED
• EXPANSIVE ROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $809 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.7% vs local median 6.9% in Marion — 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 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 210 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 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 $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at -18% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $41k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 2.64% ✓
• Cap rate: 22.74%
• Cash-on-cash: 58.74%
• DSCR: 3.61
• GRM: 3.2

CMA / ARV

• ARV (median comp): $133,556
• List price: $59,000
• Delta: -55.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 W Church St	0.19mi	4/2.0 (+1)	2,280 (-10%)	1mo	$212,500	$93	64
395 W Church St	0.08mi	3/2.0	2,288 (-10%)	16mo	$280,000	$122	63
254 S State St	0.60mi	4/2.0 (+1)	2,560 (+1%)	8mo	$140,000	$55	55
593 Windsor St	0.58mi	3/2.0	2,282 (-10%)	1mo	$235,000	$103	51
389 S Prospect St	0.48mi	4/2.0 (+1)	2,280 (-10%)	2mo	$196,000	$86	50
589 Pearl St	0.65mi	3/2.0	2,575 (+2%)	17mo	$130,000	$50	49
541 Pearl St	0.59mi	3/1.5	2,746 (+8%)	11mo	$73,500	$27	47
307 Silver St	0.47mi	4/1.5 (+1)	2,310 (-9%)	20mo	$53,000	$23	40
301 S Vine St	0.73mi	4/1.5 (+1)	2,754 (+9%)	7mo	$199,999	$73	39
395 N Main St	0.73mi	4/2.0 (+1)	2,767 (+9%)	6mo	$120,000	$43	37
369 Bellefontaine Ave	0.53mi	4/2.5 (+1)	2,772 (+9%)	19mo	$300,000	$108	33
639 Pearl St	0.71mi	4/2.5 (+1)	2,180 (-14%)	11mo	$233,500	$107	24

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: 57.4%
• Equity multiple: 3.54×
• Total profit: $41,972
• Equity at exit: $8,797

10-year hold

• IRR: 62.3%
• Equity multiple: 7.23×
• Total profit: $102,991
• Equity at exit: $5,101

Cash invested: $16,520 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 210
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,556 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$86 /mo · $1,036/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $809

Break-even live

Break-even rent $532

Max offer price $59,000

Occupancy floor 43%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-14
   days on market $59,000 Active 61 DOM
2. 2026-06-12
   statusdays on market $59,000 Active 60 DOM
3. 2026-05-05
   status Pending 543-char remark

   Show marketing remark (543 chars)

   POTENTIAL UNLIMITED: FLIP OR RESTORE! The Character: Incredible, stellar original woodwork throughout that commands attention and serves as a centerpiece for any renovation. The Scale: Exceptionally large floor plan with expansive rooms and a layout that invites creative reconfiguration. The Perks: Features both a detached garage and an additional shed, offering rare utility and storage options for this area. The Value: Exceptional 'After Repair Value' potential for those looking to build equity through restoration. being sold 'as is'

4. 2026-04-16
   price $59,000 543-char remark

   Show marketing remark (543 chars)

   POTENTIAL UNLIMITED: FLIP OR RESTORE! The Character: Incredible, stellar original woodwork throughout that commands attention and serves as a centerpiece for any renovation. The Scale: Exceptionally large floor plan with expansive rooms and a layout that invites creative reconfiguration. The Perks: Features both a detached garage and an additional shed, offering rare utility and storage options for this area. The Value: Exceptional 'After Repair Value' potential for those looking to build equity through restoration. being sold 'as is'

5. 2026-03-16
   price $84,000 543-char remark

   Show marketing remark (543 chars)

   POTENTIAL UNLIMITED: FLIP OR RESTORE! The Character: Incredible, stellar original woodwork throughout that commands attention and serves as a centerpiece for any renovation. The Scale: Exceptionally large floor plan with expansive rooms and a layout that invites creative reconfiguration. The Perks: Features both a detached garage and an additional shed, offering rare utility and storage options for this area. The Value: Exceptional 'After Repair Value' potential for those looking to build equity through restoration. being sold 'as is'

6. 2026-03-08
   listed $99,999 Active 543-char remark

   Show marketing remark (543 chars)

   POTENTIAL UNLIMITED: FLIP OR RESTORE! The Character: Incredible, stellar original woodwork throughout that commands attention and serves as a centerpiece for any renovation. The Scale: Exceptionally large floor plan with expansive rooms and a layout that invites creative reconfiguration. The Perks: Features both a detached garage and an additional shed, offering rare utility and storage options for this area. The Value: Exceptional 'After Repair Value' potential for those looking to build equity through restoration. being sold 'as is'

7. 2025-06-24
   soldstatus $47,500
8. 2025-05-15
   status Pending
9. 2025-05-09
   listed $79,900 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: $1,036 · $86/mo
• Projected year-2 tax: $1,036 · $86/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,667
• − Mortgage interest: −$3,305
• − Property taxes: −$1,036
• − Insurance: −$295
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$1,716
• Taxable income: $9,328
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $7,465/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

-26.2% since first listed

7 events — show timeline

• 2026-05-05 Pending — CBRMLS
• 2026-04-16 Price Changed $59,000 CBRMLS
• 2026-03-16 Price Changed $84,000 CBRMLS
• 2026-03-08 Listed $99,999 CBRMLS
• 2025-06-24 Sold (Public Records) $47,500 Public Records
• 2025-05-15 Pending — CBRMLS
• 2025-05-09 Listed $79,900 CBRMLS

Property tax history

+8.5%/yr

Latest (2025): $1,036 · +0.0% YoY. Source: county tax records.