643 Feese Pl · Springfield, OH 45505

$119,900

3 bd · 1.0 ba · 816 sqft · SingleFamily public records · 2 Days on market

Built 1950 6,534 sqft lot Est $137k · 13% 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 +13.1/15.0
• Cash flow +11.1/30.0
• 1% rule +4.4/10.0
• DSCR +3.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

POSSIBLE THREE BEDROOMS. WOOD FLOORS, PARTIAL REPLACEMENT WINDOWS. OVERSIZED TWO CAR DETACHED GARAGE. BEAUTIFUL UPDATED MAPLE KTICHEN CABINETS. NEW CARPET LIVING ROOM & BEDROOMS. NEW CHAIN LINK FENCE IN BACK YARD BEING INSTALLED.

Key facts

• Quiet cul-de-sac
• Detached car garage
• 6,534 sq ft lot

Tags

• FULLY FENCED BACKYARD
• DETACHED CAR GARAGE
• QUIET CUL-DE-SAC

Property features AI

Exterior

• Parking: 2.5 garage spaces; Has garage
• Utilities: Supplied water; Public sewer
• Home design: Single family residence; House; Built in 1950
• Construction: Vinyl siding; Block foundation
• Exterior features: Porch; Patio; Fenced yard; Cul-de-sac lot; Residential lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Bedroom 1 (12 x 11); Bedroom 2 (11 x 10); Bedroom 3 (8 x 11)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Attic; Ceiling fan(s); Security system; Smoke detector(s)
• Laundry & utility: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-49 ($-586/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (5.9% below list).
• Recommended offer: $111k (7.2% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 4.7% in Springfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Mann Elementary School (math 29% / reading 32%, grade F, #1,151 of 1,584 statewide, top 73%, 383 students, 0% FRL); Schaefer Middle School (math 20% / reading 27%, grade F, #597 of 654 statewide, top 92%, 268 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 158 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 31% 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 $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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 $67k; list at $120k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,280 (7.2% 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $137,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2670 Duncan St	0.27mi	3/1.0	816 (0%)	4mo	$137,000	$168	84
2733 Elmore Dr	0.33mi	3/1.0	816 (0%)	7mo	$139,900	$171	79
2745 Share St	0.35mi	2/1.0 (-1)	816 (0%)	1mo	$130,000	$159	78
325 Gruen Dr	0.42mi	3/1.0	816 (0%)	8mo	$104,000	$127	73
637 S Arlington Ave	0.28mi	2/1.0 (-1)	798 (-2%)	8mo	$95,000	$119	72
327 Buxton Ave	0.32mi	3/1.0	864 (+6%)	6mo	$150,000	$174	70
1915 Kenwood Ave	0.62mi	3/1.0	812 (-0%)	4mo	$159,000	$196	67
1979 Kenton St	0.51mi	2/1.0 (-1)	752 (-8%)	1mo	$77,000	$102	58
1014 Beacon St	0.63mi	3/1.0	768 (-6%)	4mo	$154,500	$201	57
528 Geron Dr	0.64mi	2/1.0 (-1)	864 (+6%)	7mo	$165,000	$191	50
1823 Rutland Ave	0.70mi	2/1.0 (-1)	768 (-6%)	4mo	$65,000	$85	49
523 Linwood Ave	0.58mi	2/1.0 (-1)	910 (+12%)	7mo	$45,000	$49	43

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: -19.1%
• Equity multiple: 0.33×
• Total profit: $-22,451
• Equity at exit: $17,877

10-year hold

• IRR: -11.5%
• Equity multiple: 0.31×
• Total profit: $-23,204
• Equity at exit: $10,367

Cash invested: $33,572 (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 45505

• Home prices YoY: -34.3%
• Active inventory: 158
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,129 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$262 /mo · $3,140/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-49

Break-even live

Break-even rent $1,190

Max offer price $111,280

Occupancy floor 99%

Sensitivity live

Price	-10% $19	-5% $-15	+0% $-49	+5% $-83	+10% $-117
Rent	-10% $-138	-5% $-93	+0% $-49	+5% $-4	+10% $40
Rate	-1.0pp $12	-0.5pp $-18	base $-49	+0.5pp $-80	+1.0pp $-111

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	45d	1	0.66mi
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	3d	1	0.89mi

Listing history 3 events

1. 2026-06-22
   statusdays on market $119,900 Pending 2 DOM
2. 2026-06-18
   remarks 587-char remark
3. 2026-06-18
   listed $119,900 Active 1 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: $3,140 · $262/mo
• Projected year-2 tax: $3,140 · $262/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 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: $13,544
• − Mortgage interest: −$6,716
• − Property taxes: −$3,140
• − Insurance: −$600
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$3,488
• Taxable loss: −$2,567
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $31/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

+234.0% since first listed

5 events — show timeline

• 2026-06-18 Listed $119,900 WRIST
• 2010-03-01 Sold (MLS) $67,000 WRIST
• 2009-09-15 Listed $71,900 WRIST
• 1990-09-19 Sold (Public Records) $43,900 Public Records
• 1986-07-17 Sold (Public Records) $35,900 Public Records

Property tax history

+10.5%/yr

Latest (2025): $3,140 · +54.6% YoY. Source: county tax records.