240 E Merrin St · Payne, OH 45880

$179,000

5 bd · 1.5 ba · 2,182 sqft · SingleFamily public records · 10 Days on market

Built 1901 6,447 sqft lot Est $207k · 14% under

---

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).

• Cash flow +13.9/30.0
• ARV discount +13.6/15.0
• Schools +5.7/10.0
• DSCR +4.2/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 2,182 square foot home nestled in town and full of character! Featuring four spacious bedrooms and 1.5 baths, this home offers plenty of room for family and guests. Unique architectural details and timeless charm create an inviting atmosphere throughout. This well-maintained home includes several valuable updates, including a metal roof, a newer boiler and water heater, and a convenient backup generator plug-in for added peace of mind. Step outside to enjoy the private backyard—perfect for relaxing, entertaining, or gardening. Conveniently located close to schools and parks, this property combines small-town convenience with the comfort and personality of a tr

Key facts

• Close to schools
• Metal roof
• Newer boiler

Tags

• METAL ROOF
• NEWER BOILER
• WATER HEATER
• BACKUP GENERATOR PLUG-IN
• PRIVATE BACKYARD
• CLOSE TO SCHOOLS

Property features AI

Finance

• HOA & community: Community features include a park and sidewalks

Exterior

• Parking: Detached garage; 2 garage spaces; Parking for up to 4 vehicles; Alley access and concrete driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available; Internet available
• Home design: Single-family residence attached with 1 common wall; Two levels / 2 stories; House structure; Metal roof; Living area approximately 2,182
• Construction: Vinyl siding; Block foundation
• Exterior features: Private yard; Front porch; Wood fencing; Garage(s) on the property

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator; Water heater
• Bedrooms: Three upper-level bedrooms (each approx. 15 x 11); Additional main-level bedroom (approx. 14 x 13)
• Flooring: Carpet; Laminate; Wood
• Bathrooms: One full bathroom; One half bathroom (1.5 total)
• Heating & cooling: Boiler heating; Window unit(s) for cooling
• Interior features: Entrance foyer; Total of 9 rooms
• Laundry & utility: Main-level laundry (approx. 11 x 7)

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $18 ($218/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (18.5% below list).
• Recommended offer: $146k (18.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#352 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Wayne Trace Local (rural): math 64% / reading 70% proficiency, ranked #188 of 656 in OH (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Payne Elementary School (math 67% / reading 72%, grade A-, #391 of 1,584 statewide, top 27%, 234 students, 47% FRL); Wayne Trace High School (math 60% / reading 72%, grade B, #155 of 781 statewide, top 20%, 431 students, 34% FRL).
• Market conditions: 7 active listings in the ZIP; 22 units permitted in Paulding 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.
• Paulding County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $179k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,894 (18.5% below list)

Questions for the listing agent

1. Built in 1901 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $207,290
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 E Oak St	0.13mi	4/1.5 (-1)	1,942 (-11%)	1mo	$185,000	$95	69

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-27,890
• Equity at exit: $26,689

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-22,963
• Equity at exit: $15,477

Cash invested: $50,120 (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 45880

• Home prices YoY: -19.6%
• Active inventory: 7
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$121 /mo · $1,453/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $18

Break-even live

Break-even rent $1,436

Max offer price $179,000

Occupancy floor 94%

Sensitivity live

Price	-10% $119	-5% $69	+0% $18	+5% $-32	+10% $-83
Rent	-10% $-97	-5% $-39	+0% $18	+5% $76	+10% $133
Rate	-1.0pp $108	-0.5pp $64	base $18	+0.5pp $-28	+1.0pp $-75

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $179,000 Active 10 DOM
2. 2026-06-18
   days on market $179,000 Active 8 DOM
3. 2026-06-17
   days on market $179,000 Active 7 DOM
4. 2026-06-16
   days on market $179,000 Active 6 DOM
5. 2026-06-15
   days on market $179,000 Active 5 DOM
6. 2026-06-13
   days on market $179,000 Active 3 DOM
7. 2026-06-12
   remarks 693-char remark
8. 2026-06-12
   listed $179,000 Active 2 DOM

ⓘ 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: $1,453 · $121/mo
• Projected year-2 tax: $2,123 · $177/mo
• Expected delta: +$670/yr (+$56/mo · 46.1%)

ⓘ 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: $17,507
• − Mortgage interest: −$10,027
• − Property taxes: −$1,453
• − Insurance: −$895
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$5,207
• Taxable loss: −$2,876
• Est. tax savings @ 24.0%: +$690
• After-tax cash flow: $908/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: Wayne Trace Local
• NCES district ID: 3904903
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 70% ▼ -4.00%
• Median HH income: $47,643
• Composite: 56.63/100
• National rank: #1140
• State rank: #188 of 656 in OH

Livability — Payne

• Score: 73/100
• State rank: #352
• US rank: #5697

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Payne, OH
• County: Paulding · 17,531 people
• Population (ZIP): 2,437
• Household income: $71,875
• Rent vs Own: 19.8% rent · 80.2% own
• Severe rent burden: 1.4

Population outlook (Paulding County) Hauer SSP2

• Today (2025): 17,539 people
• By 2030: 16,627 · -5.2%
• By 2040: 14,716 · -16.1%
• By 2050: 12,853 · -26.7%
• By 2075: 9,142 · -47.9%
• By 2100: 6,313 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Paulding

• 2024 margin: Solid R (+56.2) · D 21.4% · R 77.7%
• 2008→2024 swing: -44.4pp toward R · 2008: -11.8pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+51.5 2016: R+48.5 2012: R+20.4 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.65%
• Current HPI: 199.5093
• 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

+198.3% since first listed

2 events — show timeline

• 2026-06-10 Listed $179,000 NORIS
• 1997-09-29 Sold (Public Records) $60,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,453 · +26.2% YoY. Source: county tax records.