371 Hensel Ave · Springfield, OH 45505

$104,900

3 bd · 1.0 ba · 1,183 sqft · SingleFamily public records · 38 Days on market

Built 1911 5,625 sqft lot $89/sqft · 49% above area Est $70k · 49% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor-focused opportunity with rental income already in place. This 3-bedroom Cape Cod is currently rented for 1100 per month and offers a strong list of major maintenance updates. With 1,183 square feet, a basement for easy storage, and a well-maintained overall condition, this property is positioned for buyers looking for a straightforward addition to their portfolio. Recent improvements include a new roof, new sump pump, new hot water heater, rebuilt furnace, and new kitchen cabinets—the kind of updates that help reduce capital expense and support more predictable ownership. Outside, the privacy-fenced backyard has usable outdoor space, and the vacant lot adjacent to the property provides added separation and a more open setting. Whether you are expanding your rental portfolio or securing your first single-family investment, this property offers existing rental income with many key updates already in place. Tenant occupied; please do not disturb tenants. Minimum 24-hour notice required for showings.

Key facts

• New sump pump
• New hot water heater
• New kitchen cabinets

Tags

• NEW ROOF
• NEW SUMP PUMP
• NEW HOT WATER HEATER
• REBUILT FURNACE
• NEW KITCHEN CABINETS
• PRIVACY-FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.7% in Springfield — 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 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 158 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 38% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at -16% 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 $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($102k) 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.
• Current owner paid $4k; list at $105k implies a 2697% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,753 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.33% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

• ARV (median comp): $70,367
• List price: $104,900
• Delta: 49.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1820 Clay St	0.04mi	3/1.0	1,092 (-8%)	2mo	$75,000	$69	84
260 Indiana Ave	0.30mi	3/1.0	1,161 (-2%)	0mo	$129,000	$111	82
551 Georgia Ave	0.12mi	2/1.0 (-1)	1,248 (+6%)	7mo	$37,000	$30	75
230 Rice St	0.46mi	2/1.0 (-1)	1,208 (+2%)	2mo	$40,000	$33	68
1748 Kentucky Ave	0.08mi	2/1.0 (-1)	1,008 (-15%)	1mo	$75,000	$74	66
650 E Southern Ave	0.56mi	3/1.0	1,144 (-3%)	4mo	$72,500	$63	65
305 Catherine St	0.30mi	3/1.5	1,272 (+8%)	9mo	$143,000	$112	64
115 W Auburn Ave	0.69mi	3/1.0	1,132 (-4%)	8mo	$145,000	$128	54
913 Tibbetts Ave	0.71mi	2/1.5 (-1)	1,184 (+0%)	9mo	$21,000	$18	52
237 Sturgeon St	0.74mi	3/1.5	1,225 (+4%)	6mo	$155,000	$127	52
1111 Lafayete Ave	0.75mi	3/1.0	1,056 (-11%)	2mo	$130,000	$123	45
918 E Rose St	0.52mi	3/1.0	1,008 (-15%)	9mo	$136,000	$135	44

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: 7.9%
• Equity multiple: 1.31×
• Total profit: $9,093
• Equity at exit: $15,641

10-year hold

• IRR: 17.2%
• Equity multiple: 2.41×
• Total profit: $41,525
• Equity at exit: $9,070

Cash invested: $29,372 (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 45505

• Home prices YoY: -34.3%
• Active inventory: 158
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$550
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $410

Break-even live

Break-even rent $881

Max offer price $104,900

Occupancy floor 66%

Sensitivity live

Price	-10% $469	-5% $439	+0% $410	+5% $380	+10% $350
Rent	-10% $299	-5% $354	+0% $410	+5% $465	+10% $520
Rate	-1.0pp $462	-0.5pp $436	base $410	+0.5pp $382	+1.0pp $355

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	44d	1	0.29mi
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	24d	1	0.38mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	22d	1	0.54mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	20d	1	0.72mi
1452 S Wittenberg Ave Springfield, OH	2.0	1.0	937	$1,010	$1.08	2d	1	0.74mi
830 Oak St Unit 830 Springfield, OH	4.0	1.5	1400	$1,250	$0.89	15d	1	0.92mi
545 W Grand Ave Springfield, OH	4.0	2.0	1456	$1,595	$1.10	4d	1	1.19mi
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	44d	1	1.38mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	12d	1	1.44mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	44d	1	1.45mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	12d	1	1.47mi

Listing history 11 events

1. 2026-05-11
   price $104,900 1026-char remark

   Show marketing remark (1026 chars)

   Investor-focused opportunity with rental income already in place. This 3-bedroom Cape Cod is currently rented for 1100 per month and offers a strong list of major maintenance updates. With 1,183 square feet, a basement for easy storage, and a well-maintained overall condition, this property is positioned for buyers looking for a straightforward addition to their portfolio. Recent improvements include a new roof, new sump pump, new hot water heater, rebuilt furnace, and new kitchen cabinets—the kind of updates that help reduce capital expense and support more predictable ownership. Outside, the privacy-fenced backyard has usable outdoor space, and the vacant lot adjacent to the property provides added separation and a more open setting. Whether you are expanding your rental portfolio or securing your first single-family investment, this property offers existing rental income with many key updates already in place. Tenant occupied; please do not disturb tenants. Minimum 24-hour notice required for showings.

2. 2026-04-19
   listed $107,900 Active 1026-char remark

   Show marketing remark (1026 chars)

   Investor-focused opportunity with rental income already in place. This 3-bedroom Cape Cod is currently rented for 1100 per month and offers a strong list of major maintenance updates. With 1,183 square feet, a basement for easy storage, and a well-maintained overall condition, this property is positioned for buyers looking for a straightforward addition to their portfolio. Recent improvements include a new roof, new sump pump, new hot water heater, rebuilt furnace, and new kitchen cabinets—the kind of updates that help reduce capital expense and support more predictable ownership. Outside, the privacy-fenced backyard has usable outdoor space, and the vacant lot adjacent to the property provides added separation and a more open setting. Whether you are expanding your rental portfolio or securing your first single-family investment, this property offers existing rental income with many key updates already in place. Tenant occupied; please do not disturb tenants. Minimum 24-hour notice required for showings.

3. 2025-05-25
   status Active
4. 2025-05-17
   status Pending
5. 2025-05-17
   historical
6. 2025-04-05
   price $125,000
7. 2025-04-05
   listed $140,000 Active
8. 2025-04-03
   historical
9. 2007-07-12
   soldstatus $3,750
10. 2007-02-22
    soldstatus $12,000
11. 1986-04-17
    soldstatus $8,000

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $1,432 · $119/mo
• Expected delta: +$204/yr (+$17/mo · 16.6%)

ⓘ 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 (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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,796
• − Mortgage interest: −$5,876
• − Property taxes: −$1,228
• − Insurance: −$524
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,052
• Taxable income: $3,429
• Est. tax owed @ 24.0%: −$823
• After-tax cash flow: $4,092/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: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 19,826
• Household income: $43,819
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 950.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 1% German 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.16%
• Current HPI: 258.9037
• Rent YoY: —
• Metro: Springfield, OH
• 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

+1211.2% since first listed

11 events — show timeline

• 2026-05-11 Price Changed $104,900 Dayton MLS
• 2026-04-19 Listed $107,900 Dayton MLS
• 2025-05-25 Relisted — CBRMLS
• 2025-05-17 Pending — CBRMLS
• 2025-05-17 Listing Removed — CBRMLS
• 2025-04-05 Price Changed $125,000 CBRMLS
• 2025-04-05 Listed $140,000 CBRMLS
• 2025-04-03 Coming Soon — CBRMLS
• 2007-07-12 Sold (Public Records) $3,750 Public Records
• 2007-02-22 Sold (Public Records) $12,000 Public Records
• 1986-04-17 Sold (Public Records) $8,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $1,228 · +135.5% YoY. Source: county tax records.