11656 County Road R Rd · Pioneer, OH 43554

$169,900

3 bd · 1.5 ba · 1,923 sqft · SingleFamily public records · 4 Days on market

Built 1870 5.00 ac lot $88/sqft · 39% below area Est $279k · 39% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +2.0/10.0
• DSCR +1.6/10.0

Listing remarks

GREAT OPPORTUNITY TO PURCHASE A HOME WITH 5 ACRES AND A INCREDIBLE NEWER 50X64 POLE WITH CONCRETE FLOORS AND INSULATED. HOUSE NEEDS SOME TLC BUT COULD BE A NICE FLIP HOUSE. 5 ACRES OF LAND TO ROAM!! DON'T MISS THIS OPPORTUNITY. ESTATE SALE! CASH OFFERS ONLY!! SET YOUR APPOINTMENT UP TODAY!

Key facts

• 5 acre lot
• 2 garage spots
• Built 1870

Property features AI

Exterior

• Parking: 2-car garage; Gravel parking
• Utilities: Electricity connected; Propane; Well water; Septic tank
• Home design: Single-family house; Two levels (2 stories); Not attached to other structures; No common walls
• Construction: Brick and vinyl siding exterior; Block foundation; Block basement
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on main level (8 x 10)
• Bedrooms: Main-level bedroom (12 x 14); Main-level bedroom (12 x 12); Upper-level bedroom (10 x 11); Upper-level bedroom (10 x 11)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Ceiling fans for cooling; Has heating and cooling
• Interior features: Eight total rooms; Basement with block foundation; Other interior features
• Laundry & utility: Main-level laundry (11 x 15)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-213 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (28.6% below list).
• Recommended offer: $121k (28.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#578 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• North Central Local (rural): math 50% / reading 66% proficiency, ranked #329 of 656 in OH (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Central Elementary School (math 62% / reading 72%, grade B+, #456 of 1,584 statewide, top 31%, 303 students, 0% FRL); North Central Junior/High School (math 37% / reading 57%, grade D-, #435 of 781 statewide, top 59%, 248 students, 61% FRL) — zoned schools average 30% FRL vs 57% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 12 active listings in the ZIP; 40 units permitted in Williams County in 2024 (0 in 5+ unit buildings).

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.
• Williams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,364 (28.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1870 — 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 B-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.37%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

• ARV (median comp): $279,090
• List price: $169,900
• Delta: -39.12%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11656 County Road R Rd	0.00mi	4/1.0 (+1)	1,923 (0%)	1mo	$185,000	$96	92

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: -25.5%
• Equity multiple: 0.14×
• Total profit: $-41,085
• Equity at exit: $25,333

10-year hold

• IRR: -21.7%
• Equity multiple: -0.12×
• Total profit: $-53,183
• Equity at exit: $14,690

Cash invested: $47,572 (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 43554

• Home prices YoY: -2.6%
• Active inventory: 12
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$210 /mo · $2,521/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-213

Break-even live

Break-even rent $1,483

Max offer price $132,258

Occupancy floor —

Sensitivity live

Price	-10% $-117	-5% $-165	+0% $-213	+5% $-261	+10% $-309
Rent	-10% $-309	-5% $-261	+0% $-213	+5% $-165	+10% $-117
Rate	-1.0pp $-128	-0.5pp $-170	base $-213	+0.5pp $-257	+1.0pp $-302

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   status Pending 296-char remark
2. 2026-05-05
   listed $169,900 Active 296-char remark

ⓘ 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: $2,521 · $210/mo
• Projected year-2 tax: $2,586 · $215/mo
• Expected delta: +$65/yr (+$5/mo · 2.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 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: $14,564
• − Mortgage interest: −$9,517
• − Property taxes: −$2,521
• − Insurance: −$850
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$4,943
• Taxable loss: −$5,597
• Est. tax savings @ 24.0%: +$1,343
• After-tax cash flow: $-1,214/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: North Central Local
• NCES district ID: 3905064
• Math proficiency: 50% ▼ -19.00%
• Reading proficiency: 66% ▼ -3.00%
• Median HH income: $46,628
• Composite: 49.03/100
• National rank: #2062
• State rank: #329 of 656 in OH

Livability — Pioneer

• Score: 68/100
• State rank: #578
• US rank: #9826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Williams · 37,585 people
• Population (ZIP): 2,035
• Household income: $56,708
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 16.9

Population outlook (Williams County) Hauer SSP2

• Today (2025): 36,125 people
• By 2030: 35,264 · -2.4%
• By 2040: 33,264 · -7.9%
• By 2050: 31,072 · -14.0%
• By 2075: 26,553 · -26.5%
• By 2100: 21,318 · -41.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Slovak 5% Iranian 5% Lithuanian 4%
• Foreign-born: 1% · China, Canada
• Languages at home: 95% English-only · German/W. Germanic 5%

Political lean MEDSL · Williams

• 2024 margin: Solid R (+48.2) · D 25.4% · R 73.7%
• 2008→2024 swing: -39.0pp toward R · 2008: -9.3pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+46.2 2016: R+43.8 2012: R+16.3 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.03%
• Current HPI: 227.4421
• 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

+8.9% since first listed

4 events — show timeline

• 2026-06-04 Sold (Public Records) $185,000 Public Records
• 2026-06-02 Sold (MLS) $185,000 NORIS
• 2026-05-11 Pending — NORIS
• 2026-05-05 Listed $169,900 NORIS

Property tax history

+13.9%/yr

Latest (2025): $2,521 · +0.0% YoY. Source: county tax records.