450 Lake Ave · Russells Point, OH 43348

$100,000

1 bd · 1.0 ba · 626 sqft · SingleFamily public records · 184 Days on market

Built 1945 0.35 ac lot $160/sqft · 13% below area Est $114k · 13% under

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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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

Key facts

• Insulated garage
• Reconfigured bath
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• SS APPLIANCES
• RECONFIGURED BATH
• NEW ROOF
• INSULATED GARAGE
• PANELED GARAGE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 2.8% in Russells Point — 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 60/100 on livability (#971 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Indian Lake Local (rural): math 59% / reading 66% proficiency, ranked #261 of 656 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 121 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Logan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask is 83233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $62k; list at $100k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.60% ✓
• Cap rate: 14.02%
• Cash-on-cash: 27.61%
• DSCR: 2.23
• GRM: 5.2

CMA / ARV

• ARV (median comp): $114,425
• List price: $100,000
• Delta: -12.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Miami Ave	0.14mi	1/1.0	640 (+2%)	7mo	$150,000	$234	84
210 E Elliott Rd	0.15mi	2/1.0 (+1)	704 (+12%)	0mo	$80,000	$114	67
521 Fairview Ave	0.23mi	1/1.0	560 (-10%)	10mo	$115,000	$205	63
533 Buckeye Ave	0.20mi	1/1.0	576 (-8%)	18mo	$156,000	$271	63
203 2nd St	0.53mi	2/1.0 (+1)	598 (-4%)	11mo	$175,000	$293	54
351 Prater St	0.72mi	2/2.0 (+1)	624 (-0%)	7mo	$210,000	$337	51
357 3rd St	0.72mi	2/1.0 (+1)	665 (+6%)	1mo	$145,000	$218	50
242 Park Ave	0.24mi	2/1.0 (+1)	570 (-9%)	24mo	$95,000	$167	49
351 Taylor Ave	0.36mi	2/1.0 (+1)	689 (+10%)	21mo	$35,000	$51	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: -2.0%
• Equity multiple: 0.93×
• Total profit: $-2,088
• Equity at exit: $14,910

10-year hold

• IRR: 7.9%
• Equity multiple: 1.61×
• Total profit: $17,039
• Equity at exit: $8,646

Cash invested: $28,000 (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 43348

• Home prices YoY: -29.2%
• Active inventory: 49
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$58 /mo · $690/yr
• Insurance: −$42
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $218

Break-even live

Break-even rent $1,329

Max offer price $100,000

Occupancy floor 81%

Sensitivity live

Price	-10% $274	-5% $246	+0% $218	+5% $189	+10% $161
Rent	-10% $91	-5% $154	+0% $218	+5% $281	+10% $345
Rate	-1.0pp $268	-0.5pp $243	base $218	+0.5pp $192	+1.0pp $166

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8926 Franklin Ave Unit B Lakeview, OH	2.0	1.0	696	$1,605	$2.31	3d	1	1.18mi
8926 Franklin Ave Lakeview, OH	2.0	1.0	696	$1,605	$2.31	3d	1	1.18mi

Listing history 29 events

1. 2026-06-15
   statusdays on market $100,000 Pending 184 DOM
2. 2026-06-13
   days on market $100,000 Active 183 DOM
3. 2026-06-12
   days on market $100,000 Active 182 DOM
4. 2026-06-09
   days on market $100,000 Active 179 DOM
5. 2026-06-08
   days on market $100,000 Active 178 DOM
6. 2026-06-08
   days on market $100,000 Active 177 DOM
7. 2026-06-07
   days on market $100,000 Active 176 DOM
8. 2026-06-04
   days on market $100,000 Active 173 DOM
9. 2026-06-02
   days on market $100,000 Active 172 DOM
10. 2026-06-01
    days on market $100,000 Active 171 DOM
11. 2026-05-31
    days on market $100,000 Active 170 DOM
12. 2026-05-04
    price $100,000 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

13. 2026-05-04
    price $100,000 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

14. 2025-12-17
    price $110,000 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

15. 2025-12-13
    price $120,000 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

16. 2025-12-12
    listed $120 Active 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

17. 2025-12-05
    price $110,000 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

18. 2025-11-11
    listed $120,000 Active 657-char remark

    Show marketing remark (657 chars)

    Looking for a small home to call your own or an income property? This 1-bedroom, 1-bath cottage in Russells Point offers charm and convenience with recent updates including a remodeled kitchen with SS appliances, reconfigured bath, new roof and gutters, gas wall-mount heater, and sump pump. The insulated and paneled garage features a 220v panel and outlets—great for a workshop or storage. Sitting on over a quarter-acre with no close neighbors on three sides and expanded gravel for cars or a fire ring, this home provides privacy while keeping you close to Indian Lake, local dining, shopping, and recreation. Golf cart friendly and move-in ready!

19. 2022-03-30
    soldstatus $62,500
20. 2022-03-28
    status Pending
21. 2022-03-28
    soldstatus $62,500 Closed
22. 2022-03-02
    historical Contingency - Finance and Inspections
23. 2022-02-09
    status Active
24. 2022-01-28
    historical Contingency - Finance and Inspections
25. 2022-01-25
    listed $65,000 Active
26. 2016-02-10
    soldstatus $18,000
27. 2015-08-17
    historical
28. 2014-08-18
    listed $29,900
29. 1992-08-07
    soldstatus $17,500

ⓘ 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: $690 · $58/mo
• Projected year-2 tax: $1,125 · $94/mo
• Expected delta: +$435/yr (+$36/mo · 63.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,260
• − Mortgage interest: −$5,602
• − Property taxes: −$690
• − Insurance: −$5,618
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$2,909
• Taxable income: $1,359
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $2,287/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: Indian Lake Local
• NCES district ID: 3904808
• Math proficiency: 59% ▼ -14.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $44,496
• Composite: 52.6/100
• National rank: #1559
• State rank: #261 of 656 in OH

Livability — Russells Point

• Score: 60/100
• State rank: #971
• US rank: #18804

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Russells Point, OH
• County: Logan · 47,256 people
• City population: 1,865
• Population (ZIP): 1,865
• Household income: $50,658
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 7.3

Population outlook (Logan County) Hauer SSP2

• Today (2025): 44,240 people
• By 2030: 43,166 · -2.4%
• By 2040: 40,495 · -8.5%
• By 2050: 37,511 · -15.2%
• By 2075: 30,453 · -31.2%
• By 2100: 23,081 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Czech 2% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Logan

• 2024 margin: Solid R (+56.2) · D 21.5% · R 77.7%
• 2008→2024 swing: -29.6pp toward R · 2008: -26.6pp · 2024: -56.2pp
• All cycles: 2024: R+56.2 2020: R+55.2 2016: R+52.6 2012: R+31.8 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.07%
• Current HPI: 261.3567
• 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

+471.4% since first listed

18 events — show timeline

• 2026-05-04 Price Changed $100,000 CBRMLS
• 2026-05-04 Price Changed $100,000 WRIST
• 2025-12-17 Price Changed $110,000 CBRMLS
• 2025-12-13 Price Changed $120,000 CBRMLS
• 2025-12-12 Listed $120 CBRMLS
• 2025-12-05 Price Changed $110,000 WRIST
• 2025-11-11 Listed $120,000 WRIST
• 2022-03-30 Sold (Public Records) $62,500 Public Records
• 2022-03-28 Pending — WRIST
• 2022-03-28 Sold (MLS) $62,500 WRIST
• 2022-03-02 Contingent — WRIST
• 2022-02-09 Relisted — WRIST
• 2022-01-28 Contingent — WRIST
• 2022-01-25 Listed $65,000 WRIST
• 2016-02-10 Sold (Public Records) $18,000 Public Records
• 2015-08-17 Listing Removed — WRIST
• 2014-08-18 Listed $29,900 WRIST
• 1992-08-07 Sold (Public Records) $17,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $690 · +30.4% YoY. Source: county tax records.