212 Short St · Marion, OH 43302

$165,000

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 104 Days on market

Built 1890 5,662 sqft lot $117/sqft · 26% above area Est $131k · 26% over

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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).

• Cash flow +20.5/30.0
• DSCR +6.5/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unique property containing 2 bedrooms and 1 full bath upstairs and a Guest Bed and bath on the first floor. The property is currently rented. There is a 2 car detached garage and ample parking off street. Located half mile from the Marion County Fairgrounds. Officially listed as a 3 bedroom 2.5 bathrooms, but there are some unique features to these bathrooms. Since it was listed last year, the seller has trenched out the perimeter of the house, added french drain tubes and sealed the foundations walls. The property is currently tenant occupied. Seller has also added a mini split in the living room for your personal comfort. (The double vanity shown in the photos has been removed.

Key facts

• Guest bed and bath
• French drain tubes
• Detached garage

Tags

• GUEST BED AND BATH
• DETACHED GARAGE
• AMPLE PARKING OFF STREET
• FRENCH DRAIN TUBES
• SEALED THE FOUNDATIONS WALLS
• MINI SPLIT IN THE LIVING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (7.3% below list).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#704 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Marion City (town): math 22% / reading 31% proficiency, ranked #600 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 208 active listings in the ZIP; 53 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Marion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $37k; list at $165k implies a 346% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.62%
• DSCR: 1.25
• GRM: 9.0

CMA / ARV

• ARV (median comp): $130,685
• List price: $165,000
• Delta: 26.26%
• 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
455 Park St	0.10mi	3/1.0	1,316 (-6%)	6mo	$33,000	$25	79
464 Ballentine Ave	0.17mi	2/1.0 (-1)	1,280 (-9%)	5mo	$135,000	$105	68
125 Wallace St	0.18mi	3/1.0	1,242 (-12%)	5mo	$55,000	$44	68
749 Richmond Ave	0.44mi	3/1.5	1,345 (-4%)	4mo	$179,900	$134	67
523 Mary St	0.39mi	3/1.5	1,524 (+8%)	0mo	$175,000	$115	66
350 Mary St	0.44mi	4/2.0 (+1)	1,384 (-2%)	4mo	$170,500	$123	64
501 Roberts Ave	0.48mi	3/2.0	1,344 (-4%)	3mo	$167,000	$124	64
260 Bellevue St	0.38mi	4/1.0 (+1)	1,494 (+6%)	6mo	$52,000	$35	62
482 E George St	0.50mi	3/1.0	1,539 (+9%)	1mo	$85,000	$55	60
405 Fairview St	0.59mi	4/1.0 (+1)	1,500 (+6%)	2mo	$140,000	$93	54
210 Leader St	0.73mi	3/3.0	1,495 (+6%)	1mo	$35,000	$23	47
594 E George St	0.63mi	4/2.0 (+1)	1,543 (+10%)	3mo	$26,500	$17	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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-13,022
• Equity at exit: $24,602

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $6,131
• Equity at exit: $14,266

Cash invested: $46,200 (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 43302

• Home prices YoY: -33.9%
• Active inventory: 208
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,529 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $216

Break-even live

Break-even rent $1,255

Max offer price $165,000

Occupancy floor 81%

Sensitivity live

Price	-10% $310	-5% $263	+0% $216	+5% $170	+10% $123
Rent	-10% $96	-5% $156	+0% $216	+5% $277	+10% $337
Rate	-1.0pp $300	-0.5pp $258	base $216	+0.5pp $174	+1.0pp $130

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-31
   days on market $165,000 Active 104 DOM
2. 2026-05-30
   days on market $165,000 Active 103 DOM
3. 2026-02-15
   listed $165,000 Active 693-char remark

   Show marketing remark (693 chars)

   This unique property containing 2 bedrooms and 1 full bath upstairs and a Guest Bed and bath on the first floor. The property is currently rented. There is a 2 car detached garage and ample parking off street. Located half mile from the Marion County Fairgrounds. Officially listed as a 3 bedroom 2.5 bathrooms, but there are some unique features to these bathrooms. Since it was listed last year, the seller has trenched out the perimeter of the house, added french drain tubes and sealed the foundations walls. The property is currently tenant occupied. Seller has also added a mini split in the living room for your personal comfort. (The double vanity shown in the photos has been removed.

4. 2025-08-04
   historical
5. 2025-06-26
   price $170,000
6. 2025-06-09
   price $173,990
7. 2025-05-08
   price $174,990
8. 2025-03-31
   price $176,000
9. 2025-03-06
   listed $180,000 Active
10. 2001-09-28
    soldstatus $37,000
11. 2001-09-28
    soldstatus $37,000
12. 2001-09-01
    listed $46,900
13. 2001-08-15
    historical
14. 2001-06-18
    listed $48,900

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $1,631 · $136/mo
• Expected delta: +$943/yr (+$79/mo · 136.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,347
• − Mortgage interest: −$9,243
• − Property taxes: −$689
• − Insurance: −$825
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$4,800
• Taxable loss: −$145
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $2,632/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: Marion City
• NCES district ID: 3904433
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $32,327
• Composite: 21.58/100
• National rank: #8306
• State rank: #600 of 656 in OH

Livability — Marion

• Score: 65/100
• State rank: #704
• US rank: #12605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, OH
• County: Marion County · 53,702 people
• City population: 53,702
• Metro: Marion, OH
• Population (ZIP): 53,702
• Household income: $55,057
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1554.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 62,078 people
• By 2030: 60,049 · -3.3%
• By 2040: 55,413 · -10.7%
• By 2050: 50,604 · -18.5%
• By 2075: 40,162 · -35.3%
• By 2100: 29,105 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.4) · D 28.9% · R 70.3%
• 2008→2024 swing: -32.5pp toward R · 2008: -8.9pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+38.6 2016: R+34.4 2012: R+7.6 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.52%
• Current HPI: 223.5344
• Rent YoY: —
• Metro: Marion, 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

+237.4% since first listed

12 events — show timeline

• 2026-02-15 Listed $165,000 CBRMLS
• 2025-08-04 Listing Removed — CBRMLS
• 2025-06-26 Price Changed $170,000 CBRMLS
• 2025-06-09 Price Changed $173,990 CBRMLS
• 2025-05-08 Price Changed $174,990 CBRMLS
• 2025-03-31 Price Changed $176,000 CBRMLS
• 2025-03-06 Listed $180,000 CBRMLS
• 2001-09-28 Sold (Public Records) $37,000 Public Records
• 2001-09-28 Sold (MLS) $37,000 CBRMLS
• 2001-09-01 Listed $46,900 CBRMLS
• 2001-08-15 Listing Removed — CBRMLS
• 2001-06-18 Listed $48,900 CBRMLS

Property tax history

+1.7%/yr

Latest (2025): $689 · +0.0% YoY. Source: county tax records.