237 Forest St · Sidney, OH 45365

$89,000

3 bd · 1.5 ba · 1,760 sqft · SingleFamily public records · 7 Days on market

Built 1900 4,920 sqft lot Est $169k · 47% 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 +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice family home or investment property, large dining room with built ins for those family dinners. Newly refinished wood floors on the first floor, also new blinds, flooring, doors, bathroom sinks, vanities and toilets. Newer furnace, carpet and gutters. A must see.

Key facts

• Covered front porch
• City utilities
• Unfinished basement

Tags

• COVERED FRONT PORCH
• UNFINISHED BASEMENT
• DRIVEWAY PARKING
• CITY UTILITIES
• SERVICED FURNACE
• COPPER PEX PLUMBING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 13.7% vs local median 4.0% in Sidney — 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 76/100 on livability (#220 in OH, #3,412 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• Sidney City (town): math 46% / reading 52% proficiency, ranked #454 of 656 in OH (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 146 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 337 units permitted in Shelby County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Shelby 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $57k; list at $89k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $89,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.63% ✓
• Cap rate: 13.66%
• Cash-on-cash: 26.32%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $168,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
527 Linden Ave	0.30mi	3/1.0	1,680 (-4%)	1mo	$162,000	$96	76
512 Sycamore Ave	0.33mi	3/1.0	1,718 (-2%)	5mo	$104,000	$61	74
834 N West Ave	0.40mi	3/1.5	1,687 (-4%)	3mo	$125,000	$74	72
716 Taft St	0.52mi	3/1.0	1,792 (+2%)	1mo	$178,000	$99	70
619 Michigan St	0.32mi	3/2.5	1,840 (+4%)	5mo	$205,000	$111	69
220 S Franklin	0.38mi	2/1.5 (-1)	1,596 (-9%)	1mo	$42,000	$26	61
804 N Miami Ave	0.47mi	3/1.5	1,606 (-9%)	5mo	$200,000	$125	59
109 E Water St	0.54mi	4/2.0 (+1)	1,816 (+3%)	5mo	$82,250	$45	58
518 Rauth St	0.56mi	4/2.0 (+1)	1,693 (-4%)	3mo	$195,000	$115	58
131 Mound St	0.64mi	3/1.0	1,886 (+7%)	3mo	$72,450	$38	54
717 Taft St	0.54mi	3/1.0	1,571 (-11%)	5mo	$150,000	$95	51
418 S Wagner Ave	0.71mi	3/2.0	1,506 (-14%)	5mo	$228,000	$151	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: 20.1%
• Equity multiple: 1.82×
• Total profit: $20,398
• Equity at exit: $13,270

10-year hold

• IRR: 28.3%
• Equity multiple: 3.51×
• Total profit: $62,629
• Equity at exit: $7,695

Cash invested: $24,920 (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 45365

• Home prices YoY: -20.1%
• Active inventory: 146
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$94 /mo · $1,123/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $547

Break-even live

Break-even rent $756

Max offer price $89,000

Occupancy floor 57%

Sensitivity live

Price	-10% $597	-5% $572	+0% $547	+5% $521	+10% $496
Rent	-10% $432	-5% $489	+0% $547	+5% $604	+10% $661
Rate	-1.0pp $591	-0.5pp $569	base $547	+0.5pp $523	+1.0pp $500

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
314 Thompson St Sidney, OH	3.0	1.0	1352	$1,200	$0.89	3d	1	0.70mi
1402 N Main Ave Sidney, OH	3.0	1.0	1544	$1,300	$0.84	13d	1	0.83mi
805 S Main Ave Sidney, OH	3.0	1.0	1423	$1,400	$0.98	22d	1	0.84mi
1550 Knights Way Sidney, OH	4.0	2.5	2231	$2,195	$0.98	15d	1	1.24mi

Listing history 12 events

1. 2026-04-03
   status Pending
2. 2026-03-27
   listed $89,000 Active
3. 2015-08-13
   soldstatus $56,750
4. 2015-07-28
   soldstatus $56,900 267-char remark

   Show marketing remark (267 chars)

   Nice family home or investment property, large dining room with built ins for those family dinners. Newly refinished wood floors on the first floor, also new blinds, flooring, doors, bathroom sinks, vanities and toilets. Newer furnace, carpet and gutters. A must see.

5. 2015-03-17
   listed $56,900 267-char remark

   Show marketing remark (267 chars)

   Nice family home or investment property, large dining room with built ins for those family dinners. Newly refinished wood floors on the first floor, also new blinds, flooring, doors, bathroom sinks, vanities and toilets. Newer furnace, carpet and gutters. A must see.

6. 2014-01-03
   soldstatus $9,000
7. 2013-09-30
   soldstatus $12,000
8. 2011-08-04
   historical
9. 2008-11-08
   listed $90,000
10. 2006-12-22
    soldstatus $84,700
11. 2006-08-30
    soldstatus $28,000
12. 2000-02-25
    soldstatus $14,000

ⓘ 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: $1,123 · $94/mo
• Projected year-2 tax: $1,256 · $105/mo
• Expected delta: +$133/yr (+$11/mo · 11.8%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,376
• − Mortgage interest: −$4,985
• − Property taxes: −$1,123
• − Insurance: −$445
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$2,589
• Taxable income: $5,453
• Est. tax owed @ 24.0%: −$1,309
• After-tax cash flow: $5,250/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: Sidney City
• NCES district ID: 3910003
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $45,974
• Composite: 41.55/100
• National rank: #3443
• State rank: #454 of 656 in OH

Livability — Sidney

• Score: 76/100
• State rank: #220
• US rank: #3412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, OH
• County: Shelby · 44,840 people
• City population: 28,955
• Population (ZIP): 28,955
• Household income: $66,044
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 5.7

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 47,264 people
• By 2030: 45,935 · -2.8%
• By 2040: 42,786 · -9.5%
• By 2050: 38,981 · -17.5%
• By 2075: 30,225 · -36.1%
• By 2100: 21,273 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+64.8) · D 17.2% · R 82.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -36.4pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.2 2016: R+60.6 2012: R+46.0 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.62%
• Current HPI: 264.4532
• 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

+535.7% since first listed

12 events — show timeline

• 2026-04-03 Pending — Dayton MLS
• 2026-03-27 Listed $89,000 Dayton MLS
• 2015-08-13 Sold (Public Records) $56,750 Public Records
• 2015-07-28 Sold (MLS) $56,900 WRIST
• 2015-03-17 Listed $56,900 WRIST
• 2014-01-03 Sold (Public Records) $9,000 Public Records
• 2013-09-30 Sold (Public Records) $12,000 Public Records
• 2011-08-04 Listing Removed — WRIST
• 2008-11-08 Listed $90,000 WRIST
• 2006-12-22 Sold (Public Records) $84,700 Public Records
• 2006-08-30 Sold (Public Records) $28,000 Public Records
• 2000-02-25 Sold (Public Records) $14,000 Public Records

Property tax history

+16.3%/yr

Latest (2025): $1,123 · -1.4% YoY. Source: county tax records.