100 W Erie St · Creston, OH 44217

$169,000

4 bd · 2.0 ba · 1,428 sqft · MultiFamily public records · 39 Days on market

Built 1900 8,276 sqft lot $118/sqft · 7% below area Est $227k · 26% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.2/10.0
• Livability +3.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Clean and updated duplex with many recent improvements. Unit 100 has a first floor living room, kitchen and bathroom. The second floor has 3 bedrooms and a walk through den. Unit 106 is a remodeled one story that includes a living room, kitchen, bedroom and bathroom. The refrigerator in unit 106 is excluded. Both units enjoy the covered front porch and enclosed rear porch that accesses the basement. One laundry in the basement. Large backyard!

Key facts

• 8,276 sq ft lot
• Parking
• Built 1900

Property features AI

Finance

• Financial info: Gross income reported: $13,200; Unit rents: $600 (3-bed), $500 (1-bed); Owner pays sewer and water; Tenants pay cable TV, electricity, and gas

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public sewer; Private water
• Home design: Two-story multi-unit building; Faces north; Block foundation
• Construction: Vinyl siding; Asphalt shingle roof; Built (year per public records)
• Exterior features: Lighting; Back yard; City lot; Has a view

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One 3-bedroom unit (leased); One 1-bedroom unit (leased)
• Bathrooms: Two full bathrooms (total in property)
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Eat-in kitchen; Total of 9 rooms; Has partial crawl space basement
• Laundry & utility: Washer; Dryer (laundry located in basement)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $680/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#507 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Norwayne Local (rural): math 70% / reading 75% proficiency, ranked #122 of 656 in OH (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 4 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).
• At $3,081/mo this rent would consume 57% of the median local household income ($65k/yr) — 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.
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.82% ✓
• Cap rate: 15.95%
• Cash-on-cash: 34.48%
• DSCR: 2.53
• GRM: 4.6

CMA / ARV

• ARV (median comp): $226,994
• List price: $169,000
• Delta: -25.55%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.9%
• Equity multiple: 2.25×
• Total profit: $59,213
• Equity at exit: $25,198

10-year hold

• IRR: 37.2%
• Equity multiple: 4.45×
• Total profit: $163,040
• Equity at exit: $14,612

Cash invested: $47,320 (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 44217

• Home prices YoY: -21.2%
• Active inventory: 4
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,081 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$117 /mo · $1,410/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $1,360

Break-even live

Break-even rent $1,360

Max offer price $169,000

Occupancy floor 51%

Sensitivity live

Price	-10% $1,456	-5% $1,408	+0% $1,360	+5% $1,312	+10% $1,264
Rent	-10% $1,116	-5% $1,238	+0% $1,360	+5% $1,482	+10% $1,603
Rate	-1.0pp $1,445	-0.5pp $1,403	base $1,360	+0.5pp $1,316	+1.0pp $1,272

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,082
Total (2 units)			$3,081

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Coulter St Creston, OH	3.0	1.5	1360	$1,250	$0.92	16d	1	0.52mi

Listing history 19 events

1. 2026-06-19
   days on market $169,000 Active 39 DOM
2. 2026-06-18
   days on market $169,000 Active 38 DOM
3. 2026-06-17
   days on market $169,000 Active 37 DOM
4. 2026-06-16
   days on market $169,000 Active 36 DOM
5. 2026-06-15
   days on market $169,000 Active 35 DOM
6. 2026-06-14
   days on market $169,000 Active 33 DOM
7. 2026-06-12
   days on market $169,000 Active 32 DOM
8. 2026-06-09
   days on market $169,000 Active 29 DOM
9. 2026-06-08
   days on market $169,000 Active 28 DOM
10. 2026-06-07
    days on market $169,000 Active 27 DOM
11. 2026-06-05
    days on market $169,000 Active 24 DOM
12. 2026-06-03
    days on market $169,000 Active 23 DOM
13. 2026-06-02
    days on market $169,000 Active 22 DOM
14. 2026-06-01
    days on market $169,000 Active 21 DOM
15. 2026-05-31
    days on market $169,000 Active 20 DOM
16. 2026-05-30
    days on market $169,000 Active 19 DOM
17. 2026-05-12
    listed $169,000 Active 447-char remark

    Show marketing remark (447 chars)

    Clean updated duplex with many recent improvements. Unit 100 has a first floor living room, kitchen and bathroom. The second floor has 3 bedrooms and a walk through den. Unit 106 is a remodeled one story that includes a living room, kitchen bedroom and bathroom. The refrigerator in Unit 106 is excluded. Both units enjoy the covered front porch and enclosed rear porch that accesses the basement. The laundry is in the basement. Large back yard!

18. 2026-05-12
    listed $169,000 Active 447-char remark

    Show marketing remark (447 chars)

    Clean updated duplex with many recent improvements. Unit 100 has a first floor living room, kitchen and bathroom. The second floor has 3 bedrooms and a walk through den. Unit 106 is a remodeled one story that includes a living room, kitchen bedroom and bathroom. The refrigerator in Unit 106 is excluded. Both units enjoy the covered front porch and enclosed rear porch that accesses the basement. The laundry is in the basement. Large back yard!

19. 2026-05-11
    listed $169,000 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: $1,410 · $117/mo
• Projected year-2 tax: $2,023 · $169/mo
• Expected delta: +$613/yr (+$51/mo · 43.5%)

ⓘ 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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,972
• − Mortgage interest: −$9,467
• − Property taxes: −$1,410
• − Insurance: −$845
• − Repairs & maintenance: −$2,958
• − Management: −$2,958
• − Depreciation: −$4,916
• Taxable income: $14,419
• Est. tax owed @ 24.0%: −$3,461
• After-tax cash flow: $12,858/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: Norwayne Local
• NCES district ID: 3905056
• Math proficiency: 70% ▼ -14.00%
• Reading proficiency: 75% ▼ -7.00%
• Median HH income: $53,750
• Composite: 61.78/100
• National rank: #735
• State rank: #122 of 656 in OH

Livability — Creston

• Score: 69/100
• State rank: #507
• US rank: #8617

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creston, OH
• County: Wayne · 117,095 people
• Population (ZIP): 3,633
• Household income: $64,800
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 9.2

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 116,616 people
• By 2030: 116,214 · -0.3%
• By 2040: 113,891 · -2.3%
• By 2050: 109,009 · -6.5%
• By 2075: 94,622 · -18.9%
• By 2100: 70,577 · -39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -24.6pp toward R · 2008: -14.6pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.0 2016: R+34.9 2012: R+21.3 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.89%
• Current HPI: 218.2011
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-12 Listed $169,000 MARMLS
• 2026-05-12 Listed $169,000 ABOR
• 2026-05-11 Listed $169,000 MLSNOW

Property tax history

+5.4%/yr

Latest (2025): $1,410 · -0.8% YoY. Source: county tax records.