3591 St Rt 131 · Fayetteville, OH 45118

$72,500

4 bd · 1.0 ba · 2,328 sqft · MultiFamily public records · 205 Days on market

0.81 ac lot $31/sqft · 80% below area

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Calling all investors! This property is ready for your next renovation project with potential to be converted into a 3-4 bedroom home. Located in Fayetteville-Perry LSD with easy access to St. Rt. 32. Great opportunity to add value and customize to your vision.

Key facts

• 0.81 acre lot
• Listed 205 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $72k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#561 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Fayetteville-Perry Local (rural): math 56% / reading 62% proficiency, ranked #293 of 656 in OH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 34 active listings in the ZIP; solid renter incomes; 147 units permitted in Brown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Brown County population projected at -26% 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $45k; list at $72k implies a 61% gain — meaningful room to come down on a strong offer.

Recommended offer $63,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.27% ✓
• Cap rate: 20.40%
• Cash-on-cash: 50.38%
• DSCR: 3.24
• GRM: 3.7

CMA / ARV

• ARV (median comp): $367,915
• List price: $72,500
• Delta: -80.29%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 48.1%
• Equity multiple: 3.09×
• Total profit: $42,524
• Equity at exit: $10,810

10-year hold

• IRR: 53.7%
• Equity multiple: 6.27×
• Total profit: $106,887
• Equity at exit: $6,268

Cash invested: $20,300 (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 45118

• Home prices YoY: -28.9%
• Active inventory: 34
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$380
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $852

Break-even live

Break-even rent $564

Max offer price $72,500

Occupancy floor 43%

Sensitivity live

Price	-10% $893	-5% $873	+0% $852	+5% $832	+10% $811
Rent	-10% $722	-5% $787	+0% $852	+5% $917	+10% $982
Rate	-1.0pp $889	-0.5pp $871	base $852	+0.5pp $833	+1.0pp $814

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $72,500 Active 205 DOM
2. 2026-06-17
   days on market $72,500 Active 204 DOM
3. 2026-06-16
   days on market $72,500 Active 203 DOM
4. 2026-06-15
   days on market $72,500 Active 202 DOM
5. 2026-06-13
   days on market $72,500 Active 200 DOM
6. 2026-06-12
   days on market $72,500 Active 199 DOM
7. 2026-06-09
   days on market $72,500 Active 196 DOM
8. 2026-06-08
   days on market $72,500 Active 195 DOM
9. 2026-06-08
   days on market $72,500 Active 194 DOM
10. 2026-06-05
    days on market $72,500 Active 192 DOM
11. 2026-06-04
    days on market $72,500 Active 190 DOM
12. 2026-06-02
    days on market $72,500 Active 189 DOM
13. 2026-06-01
    days on market $72,500 Active 188 DOM
14. 2026-05-31
    days on market $72,500 Active 187 DOM
15. 2026-01-20
    price $72,500 261-char remark

    Show marketing remark (261 chars)

    Calling all investors! This property is ready for your next renovation project with potential to be converted into a 3-4 bedroom home. Located in Fayetteville-Perry LSD with easy access to St. Rt. 32. Great opportunity to add value and customize to your vision.

16. 2025-11-25
    listed $75,000 Active 261-char remark

    Show marketing remark (261 chars)

    Calling all investors! This property is ready for your next renovation project with potential to be converted into a 3-4 bedroom home. Located in Fayetteville-Perry LSD with easy access to St. Rt. 32. Great opportunity to add value and customize to your vision.

17. 2023-10-04
    historical 70-char remark

    Show marketing remark (70 chars)

    Great fixer upper, needs tlc, Reasonable cash offers, Motivated seller

18. 2022-10-05
    listed $75,000 Active 70-char remark

    Show marketing remark (70 chars)

    Great fixer upper, needs tlc, Reasonable cash offers, Motivated seller

19. 2011-02-14
    soldstatus $45,000
20. 1999-09-10
    soldstatus $45,000

ⓘ 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: $424 · $35/mo
• Projected year-2 tax: $778 · $65/mo
• Expected delta: +$353/yr (+$29/mo · 83.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,717
• − Mortgage interest: −$4,061
• − Property taxes: −$424
• − Insurance: −$362
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$2,109
• Taxable income: $9,605
• Est. tax owed @ 24.0%: −$2,305
• After-tax cash flow: $7,922/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: Fayetteville-Perry Local
• NCES district ID: 3904604
• Math proficiency: 56% ▼ -4.00%
• Reading proficiency: 62% ▼ -1.00%
• Median HH income: $55,082
• Composite: 50.71/100
• National rank: #1820
• State rank: #293 of 656 in OH

Livability — Fayetteville

• Score: 68/100
• State rank: #561
• US rank: #9566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brown · 38,418 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 3,789
• Household income: $92,469
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 7.6

Population outlook (Brown County) Hauer SSP2

• Today (2025): 41,243 people
• By 2030: 39,382 · -4.5%
• By 2040: 35,196 · -14.7%
• By 2050: 30,743 · -25.5%
• By 2075: 21,870 · -47.0%
• By 2100: 15,069 · -63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Italian 5% Lithuanian 4% Slovak 2%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+61.5) · D 19.0% · R 80.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -23.3pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+57.4 2016: R+52.2 2012: R+25.1 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.80%
• Current HPI: 257.8366
• 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

+61.1% since first listed

6 events — show timeline

• 2026-01-20 Price Changed $72,500 Cincy MLS
• 2025-11-25 Listed $75,000 Cincy MLS
• 2023-10-04 Listing Removed — Cincy MLS
• 2022-10-05 Listed $75,000 Cincy MLS
• 2011-02-14 Sold (Public Records) $45,000 Public Records
• 1999-09-10 Sold (Public Records) $45,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $424 · +0.0% YoY. Source: county tax records.