11851 Ohio 117 · Belle Center, OH 43310

$128,000

3 bd · 2.0 ba · 2,056 sqft · SingleFamily public records · 104 Days on market

Built 1950 1.46 ac lot $62/sqft · 40% below area Est $213k · 40% under

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Why this score? — see what drove the C 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 +16.3/30.0
• ARV discount +15.0/15.0
• Schools +5.6/10.0
• 1% rule +5.4/10.0
• DSCR +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Benjamin Logan School district. A One Story detached dwelling Ranch style with 3 bedrooms, 2 bathrooms, an open covered front entry, large living room, formal dining room, kitchen, and family room. Backyard is partially fenced with a deck. This home also includes an attached garage with a carport. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater.

Key facts

• One story
• Formal dining room
• Kitchen

Tags

• ONE STORY
• RANCH STYLE
• OPEN COVERED FRONT ENTRY
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $71 ($857/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $116k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#616 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime C-, schools F, amenities F.
• Benjamin Logan Local (rural): math 64% / reading 66% proficiency, ranked #197 of 656 in OH (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 24 active listings in the ZIP; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $17k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,480 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 F-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. 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: 1.04% ✓
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 8.0

CMA / ARV

• ARV (median comp): $213,347
• List price: $128,000
• Delta: -40.00%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6765 State Route 273 W	0.70mi	4/1.0 (+1)	2,014 (-2%)	6mo	$220,000	$109	50

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-16,115
• Equity at exit: $19,085

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-7,855
• Equity at exit: $11,067

Cash invested: $35,840 (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 43310

• Home prices YoY: -10.2%
• Active inventory: 24
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,332 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$256 /mo · $3,073/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $71

Break-even live

Break-even rent $1,241

Max offer price $128,000

Occupancy floor 90%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $128,000 Active 104 DOM
2. 2026-06-17
   days on market $128,000 Active 103 DOM
3. 2026-06-16
   days on market $128,000 Active 102 DOM
4. 2026-06-15
   days on market $128,000 Active 101 DOM
5. 2026-06-13
   days on market $128,000 Active 99 DOM
6. 2026-06-13
   pricedays on market $128,000 Active 98 DOM
7. 2026-06-09
   days on market $134,900 Active 95 DOM
8. 2026-06-08
   days on market $134,900 Active 94 DOM
9. 2026-06-07
   days on market $134,900 Active 93 DOM
10. 2026-06-05
    days on market $134,900 Active 90 DOM
11. 2026-06-03
    days on market $134,900 Active 89 DOM
12. 2026-06-02
    days on market $134,900 Active 88 DOM
13. 2026-06-01
    days on market $134,900 Active 87 DOM
14. 2026-05-31
    days on market $134,900 Active 86 DOM
15. 2026-05-08
    price $134,900 427-char remark

    Show marketing remark (427 chars)

    Benjamin Logan School district. A One Story detached dwelling Ranch style with 3 bedrooms, 2 bathrooms, an open covered front entry, large living room, formal dining room, kitchen, and family room. Backyard is partially fenced with a deck. This home also includes an attached garage with a carport. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater.

16. 2026-04-07
    price $139,900 427-char remark

    Show marketing remark (427 chars)

    Benjamin Logan School district. A One Story detached dwelling Ranch style with 3 bedrooms, 2 bathrooms, an open covered front entry, large living room, formal dining room, kitchen, and family room. Backyard is partially fenced with a deck. This home also includes an attached garage with a carport. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater.

17. 2026-03-05
    listed $144,900 Active 427-char remark

    Show marketing remark (427 chars)

    Benjamin Logan School district. A One Story detached dwelling Ranch style with 3 bedrooms, 2 bathrooms, an open covered front entry, large living room, formal dining room, kitchen, and family room. Backyard is partially fenced with a deck. This home also includes an attached garage with a carport. Any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater.

18. 2020-04-03
    soldstatus $142,000 405-char remark

    Show marketing remark (405 chars)

    Charming 3 bedroom 2 full bath home situated on a beautiful 1.46 Acres - Ben Logan School District! Brand new roof in 2018! Home is heated with natural gas forced air furnace and has central air. Spacious 2 car attached garage/workshop with an additional lean-to and garden shed for extra storage. Easy access to Indian Lake, Honda Transmissions, Marysville, or Lima! Call today for private tour!

19. 2020-01-27
    listed $139,900 405-char remark

    Show marketing remark (405 chars)

    Charming 3 bedroom 2 full bath home situated on a beautiful 1.46 Acres - Ben Logan School District! Brand new roof in 2018! Home is heated with natural gas forced air furnace and has central air. Spacious 2 car attached garage/workshop with an additional lean-to and garden shed for extra storage. Easy access to Indian Lake, Honda Transmissions, Marysville, or Lima! Call today for private tour!

20. 2017-09-25
    soldstatus $130,000
21. 2017-09-22
    soldstatus $130,000
22. 2017-08-14
    listed $130,000
23. 1990-06-01
    soldstatus $36,000

ⓘ 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: $3,073 · $256/mo
• Projected year-2 tax: $3,073 · $256/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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,981
• − Mortgage interest: −$7,170
• − Property taxes: −$3,073
• − Insurance: −$640
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$3,724
• Taxable loss: −$1,183
• Est. tax savings @ 24.0%: +$284
• After-tax cash flow: $1,141/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: Benjamin Logan Local
• NCES district ID: 3904807
• Math proficiency: 64% ▼ -9.00%
• Reading proficiency: 66% ▼ -3.00%
• Median HH income: $59,496
• Composite: 56.13/100
• National rank: #1181
• State rank: #197 of 656 in OH

Livability — Belle Center

• Score: 67/100
• State rank: #616
• US rank: #10635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hardin · 33,287 people
• Population (ZIP): 3,090
• Household income: $69,207
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 8.0

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Serbian 4% Slovak 4%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.87%
• Current HPI: 263.8773
• 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

+274.7% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $134,900 WCARE
• 2026-04-07 Price Changed $139,900 WCARE
• 2026-03-05 Listed $144,900 WCARE
• 2020-04-03 Sold (MLS) $142,000 WRIST
• 2020-01-27 Listed $139,900 WRIST
• 2017-09-25 Sold (Public Records) $130,000 Public Records
• 2017-09-22 Sold (MLS) $130,000 WRIST
• 2017-08-14 Listed $130,000 WRIST
• 1990-06-01 Sold (Public Records) $36,000 Public Records

Property tax history

+15.7%/yr

Latest (2025): $3,073 · +27.2% YoY. Source: county tax records.