31 Leget St · Waterford, OH 45786

$69,900

3 bd · 1.0 ba · 1,888 sqft · SingleFamily public records · 31 Days on market

Built 1900 5,227 sqft lot $37/sqft · 72% below area ↓ 13% since listing

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this 2-story home locate in a convenient in-town location. Home needs some TLC giving the next owner the chance to bring their vision to life. Great potential in a small-town setting- don't miss this opportunity!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: 2-story house; Condition: Fixer
• Construction: Vinyl siding; Slate roof; Partial basement
• Exterior features: Front porch

Interior

• Kitchen: Kitchen on first level
• Bedrooms: Bedroom on second level; Bedroom on second level
• Flooring: Carpet throughout main rooms and bedrooms
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating
• Interior features: Wood-frame windows; Decorative fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#433 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, health & safety D, amenities F.
• Wolf Creek Local (rural): math 55% / reading 60% proficiency, ranked #328 of 656 in OH (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Waterford Elementary School (math 57% / reading 59%, grade C+, #714 of 1,584 statewide, top 45%, 414 students, 33% FRL); Waterford High School (math 47% / reading 64%, grade C, #295 of 781 statewide, top 38%, 163 students, 26% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: 5 active listings in the ZIP; 3 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $6k appreciation (9.0% local appreciation)).
• Washington County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1900 — 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 A-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. 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: 1.83% ✓
• Cap rate: 15.24%
• Cash-on-cash: 31.95%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (median comp): $173,296
• List price: $69,900
• Delta: -53.89%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 and 318 3rd St	0.41mi	4/1.0 (+1)	1,808 (-4%)	2mo	$205,000	$113	67
525 Main St	0.10mi	3/2.0	2,122 (+12%)	19mo	$37,000	$17	55
307 Fourth St	0.45mi	2/2.0 (-1)	1,830 (-3%)	24mo	$193,000	$105	45
220 Center St	0.36mi	2/2.5 (-1)	1,636 (-13%)	16mo	$192,500	$118	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.2%
• Equity multiple: 4.40×
• Total profit: $66,601
• Equity at exit: $57,989

10-year hold

• IRR: 41.7%
• Equity multiple: 9.64×
• Total profit: $169,113
• Equity at exit: $120,106

Cash invested: $19,572 (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 45786

• Home prices YoY: 3.6%
• Active inventory: 5
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,279 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$94 /mo · $1,125/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $521

Break-even live

Break-even rent $620

Max offer price $69,900

Occupancy floor 54%

Sensitivity live

Price	-10% $561	-5% $541	+0% $521	+5% $501	+10% $482
Rent	-10% $420	-5% $471	+0% $521	+5% $572	+10% $622
Rate	-1.0pp $556	-0.5pp $539	base $521	+0.5pp $503	+1.0pp $485

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $69,900 Active 31 DOM
2. 2026-06-21
   days on market $69,900 Active 30 DOM
3. 2026-06-18
   days on market $69,900 Active 28 DOM
4. 2026-06-17
   days on market $69,900 Active 27 DOM
5. 2026-06-16
   days on market $69,900 Active 26 DOM
6. 2026-06-15
   days on market $69,900 Active 25 DOM
7. 2026-06-13
   days on market $69,900 Active 23 DOM
8. 2026-06-12
   days on market $69,900 Active 22 DOM
9. 2026-06-09
   days on market $69,900 Active 19 DOM
10. 2026-06-08
    days on market $69,900 Active 18 DOM
11. 2026-06-08
    days on market $69,900 Active 17 DOM
12. 2026-06-05
    days on market $69,900 Active 15 DOM
13. 2026-06-04
    days on market $69,900 Active 13 DOM
14. 2026-06-02
    days on market $69,900 Active 12 DOM
15. 2026-06-01
    days on market $69,900 Active 11 DOM
16. 2026-05-31
    days on market $69,900 Active 10 DOM
17. 2026-05-12
    historical
18. 2025-12-11
    listed $79,900 Active

ⓘ 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: $1,125 · $94/mo
• Projected year-2 tax: $1,125 · $94/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,351
• − Mortgage interest: −$3,915
• − Property taxes: −$1,125
• − Insurance: −$350
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$2,033
• Taxable income: $5,471
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $4,941/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: Wolf Creek Local
• NCES district ID: 3905051
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 60% ▼ -9.00%
• Median HH income: $50,626
• Composite: 49.05/100
• National rank: #2059
• State rank: #328 of 656 in OH

Livability — Waterford

• Score: 71/100
• State rank: #433
• US rank: #7143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterford, OH
• County: Washington · 57,253 people
• Population (ZIP): 3,019
• Household income: $61,295
• Rent vs Own: 14.4% rent · 85.6% own

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,640 people
• By 2030: 58,315 · -2.2%
• By 2040: 55,186 · -7.5%
• By 2050: 52,246 · -12.4%
• By 2075: 45,893 · -23.0%
• By 2100: 38,128 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 4% Serbian 2% Slovak 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+43.8) · D 27.7% · R 71.5%
• 2008→2024 swing: +40.2pp toward D · 2008: -83.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+40.8 2016: R+41.6 2012: R+19.4 2008: R+83.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.01%
• Current HPI: 255.5858
• 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

-12.5% since first listed

3 events — show timeline

• 2026-05-20 Listed $69,900 MLSNOW
• 2026-05-12 Listing Removed — MLSNOW
• 2025-12-11 Listed $79,900 MLSNOW

Property tax history

+7.8%/yr

Latest (2025): $1,125 · +11.9% YoY. Source: county tax records.