470 Jefferson St · Marion, OH 43302

$29,900

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 50 Days on market

Built 1947 6,098 sqft lot $37/sqft · 57% below area

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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

Small two-bedroom rental property currently generating $500 per month in rental income, now offered for sale as an investment opportunity. This AS-IS property provides immediate cash flow with an established tenant in place who has expressed a strong desire to remain, offering stability for a new owner. Due to tenant occupancy, the sale is being handled with curb offers only, and interior showings will be arranged upon accepted offer. Ideal for investors seeking a low-maintenance addition to their portfolio with consistent rental history and upside potential over time.

Key facts

• 6,098 sq ft lot
• Built 1947
• Listed 49 days

Property features AI

Finance

• Financial info: 2025 property tax listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 1947; No shared/common walls
• Construction: Block foundation (existing); Built in 1947
• Exterior features: Block foundation; Lot about 0.14 acres

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Crawl space basement; 816 square feet of living area

🏷️ Possibly a rental listed for sale. The $29,900 price doesn't fit this home's estimated sale value (~$68,749) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.6% 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; 1 comparable units currently listed for rent nearby; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1947 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 3.60% ✓
• Cap rate: 31.62%
• Cash-on-cash: 90.46%
• DSCR: 5.02
• GRM: 2.3

CMA / ARV

• ARV (median comp): $68,749
• List price: $29,900
• Delta: -56.51%
• 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
685 East Farming St	0.20mi	2/1.0	792 (-3%)	10mo	$64,000	$81	78
721 Robinson St	0.33mi	3/1.0 (+1)	864 (+6%)	4mo	$159,900	$185	67
537 Fair Park Ave	0.54mi	2/1.0	864 (+6%)	1mo	$120,000	$139	64
659 E Mark St	0.14mi	3/1.0 (+1)	896 (+10%)	11mo	$79,000	$88	63
468 Tyler St	0.19mi	3/1.5 (+1)	912 (+12%)	12mo	$149,900	$164	54
393 E George St	0.52mi	2/1.0	706 (-14%)	0mo	$138,000	$195	53
222 Uhler Ave	0.71mi	2/1.0	880 (+8%)	1mo	$155,000	$176	53
576 Adams St	0.19mi	3/1.5 (+1)	912 (+12%)	14mo	$139,000	$152	53
123 Sargent St	0.64mi	2/1.0	859 (+5%)	10mo	$106,500	$124	53
568 Wilson Ave	0.48mi	3/2.0 (+1)	866 (+6%)	10mo	$131,000	$151	50
954 Bermuda Dr	0.68mi	3/1.0 (+1)	900 (+10%)	6mo	$142,500	$158	41
560 Nassau Dr	0.70mi	3/1.0 (+1)	925 (+13%)	8mo	$157,500	$170	34

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: 91.2%
• Equity multiple: 5.23×
• Total profit: $35,373
• Equity at exit: $4,458

10-year hold

• IRR: 94.1%
• Equity multiple: 10.87×
• Total profit: $82,655
• Equity at exit: $2,585

Cash invested: $8,372 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,076 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$50 /mo · $597/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $631

Break-even live

Break-even rent $277

Max offer price $29,900

Occupancy floor 36%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Garden St Unit 131 Marion, OH	2.0	1.0	752	$900	$1.20	43d	1	1.35mi

Listing history 20 events

1. 2026-06-19
   days on market $29,900 Active 50 DOM
2. 2026-06-18
   days on market $29,900 Active 49 DOM
3. 2026-06-17
   days on market $29,900 Active 48 DOM
4. 2026-06-16
   days on market $29,900 Active 47 DOM
5. 2026-06-15
   days on market $29,900 Active 46 DOM
6. 2026-06-14
   days on market $29,900 Active 44 DOM
7. 2026-06-12
   days on market $29,900 Active 43 DOM
8. 2026-06-09
   days on market $29,900 Active 40 DOM
9. 2026-06-09
   price $29,900 Active 39 DOM
10. 2026-06-08
    days on market $32,900 Active 39 DOM
11. 2026-06-07
    days on market $32,900 Active 38 DOM
12. 2026-06-05
    days on market $32,900 Active 35 DOM
13. 2026-06-03
    days on market $32,900 Active 34 DOM
14. 2026-06-02
    days on market $32,900 Active 33 DOM
15. 2026-06-01
    days on market $32,900 Active 32 DOM
16. 2026-05-31
    days on market $32,900 Active 31 DOM
17. 2026-05-30
    days on market $32,900 Active 30 DOM
18. 2026-05-14
    price $32,900 575-char remark
19. 2026-04-30
    listed $34,900 Active 575-char remark
20. 2021-02-19
    soldstatus $100,500

ⓘ 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: $597 · $50/mo
• Projected year-2 tax: $597 · $50/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 · 17 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: $12,913
• − Mortgage interest: −$1,675
• − Property taxes: −$597
• − Insurance: −$150
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$870
• Taxable income: $7,556
• Est. tax owed @ 24.0%: −$1,813
• After-tax cash flow: $5,760/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

-70.2% since first listed

4 events — show timeline

• 2026-06-08 Price Changed $29,900 CBRMLS
• 2026-05-14 Price Changed $32,900 CBRMLS
• 2026-04-30 Listed $34,900 CBRMLS
• 2021-02-19 Sold (Public Records) $100,500 Public Records

Property tax history

+6.9%/yr

Latest (2025): $597 · +0.0% YoY. Source: county tax records.