108 S Jefferson St · Pitsburg, OH 45358

$224,900

6 bd · 4.5 ba · 2,400 sqft · MultiFamily · 159 Days on market

Built 1970 Good condition 6,534 sqft lot $94/sqft · 49% above area Est $151k · 49% over ↓ 15% since listing

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Why this score? — see what drove the C+ 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 +23.9/30.0
• Appreciation +9.9/10.0
• DSCR +7.7/10.0
• Schools +6.4/10.0
• 1% rule +6.2/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Invest Smart. Live Well. Own a Turn-Key Income Producer. This well-maintained 3-unit apartment building offers an exceptional investment opportunity with built-in income and future upside. The property includes two upper 1-bedroom, 1-bath apartments that were fully remodeled in the summer of 2020. Updates included new flooring, fresh paint, completely renovated kitchens, new ranges and refrigerators, under-cabinet microwaves, updated bathrooms, new electric breaker boxes, a new meter base, and upgraded electric service. The lower unit features 2 bedrooms and 1.5 baths and underwent a complete renovation in November 2021. Major exterior improvements add long-term value and peace of mind, including new siding, lower windows, and doors installed in January 2021, followed by a metal roof and new gutters in February 2021. A shared laundry room provides individual hook-ups for all three units, adding convenience for tenants. Operating expenses include water, insurance, and taxes, contributing to an impressive 8% ROI. All three apartment units are fully occupied, and an additional main-level space with a half bath offers the potential to lease as a small office for added income. This is a rare opportunity to own a solid, cash-flowing property with flexibility for future growth—schedule your private showing today and be sure to view the floor plans to see the full potential.

Key facts

• New meter base
• New siding
• 6,534 sq ft lot

Tags

• TURN KEY INCOME PRODUCER
• FULLY REMODELED KITCHENS
• NEW ELECTRIC BREAKER BOXES
• NEW METER BASE
• UPGRADED ELECTRIC SERVICE
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 3 × 2.0-bed/1.5-bath units multifamily listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive. Per door: $146/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#770 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Franklin Monroe Local (rural): math 67% / reading 83% proficiency, ranked #98 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 2 active listings in the ZIP; 43 units permitted in Darke County in 2024 (0 in 5+ unit buildings).
• At $2,522/mo this rent would consume 52% of the median local household income ($58k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (9.8% local appreciation)).
• Darke County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $197,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $151,265
• List price: $224,900
• Delta: 48.68%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

9.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 3.33×
• Total profit: $146,774
• Equity at exit: $198,718

10-year hold

• IRR: 26.0%
• Equity multiple: 7.50×
• Total profit: $409,408
• Equity at exit: $424,469

Cash invested: $62,972 (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 45358

• Home prices YoY: 4.7%
• Active inventory: 2
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $2,522 medium
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $438

Break-even live

Break-even rent $1,967

Max offer price $224,900

Occupancy floor 78%

Sensitivity live

Price	-10% $594	-5% $516	+0% $438	+5% $360	+10% $283
Rent	-10% $239	-5% $339	+0% $438	+5% $538	+10% $637
Rate	-1.0pp $551	-0.5pp $495	base $438	+0.5pp $380	+1.0pp $321

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2.0	1.5	$2,523
Total (3 units)			$2,522

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $224,900 Active 159 DOM
2. 2026-06-21
   days on market $224,900 Active 158 DOM
3. 2026-06-18
   days on market $224,900 Active 156 DOM
4. 2026-06-17
   days on market $224,900 Active 155 DOM
5. 2026-06-16
   days on market $224,900 Active 154 DOM
6. 2026-06-15
   days on market $224,900 Active 153 DOM
7. 2026-06-13
   days on market $224,900 Active 151 DOM
8. 2026-06-12
   days on market $224,900 Active 150 DOM
9. 2026-06-09
   days on market $224,900 Active 147 DOM
10. 2026-06-08
    days on market $224,900 Active 146 DOM
11. 2026-06-08
    days on market $224,900 Active 145 DOM
12. 2026-06-07
    days on market $224,900 Active 144 DOM
13. 2026-06-04
    days on market $224,900 Active 141 DOM
14. 2026-06-02
    days on market $224,900 Active 140 DOM
15. 2026-06-01
    days on market $224,900 Active 139 DOM
16. 2026-05-31
    days on market $224,900 Active 138 DOM
17. 2026-05-07
    price $224,900 1395-char remark

    Show marketing remark (1395 chars)

    Invest Smart. Live Well. Own a Turn-Key Income Producer. This well-maintained 3-unit apartment building offers an exceptional investment opportunity with built-in income and future upside. The property includes two upper 1-bedroom, 1-bath apartments that were fully remodeled in the summer of 2020. Updates included new flooring, fresh paint, completely renovated kitchens, new ranges and refrigerators, under-cabinet microwaves, updated bathrooms, new electric breaker boxes, a new meter base, and upgraded electric service. The lower unit features 2 bedrooms and 1.5 baths and underwent a complete renovation in November 2021. Major exterior improvements add long-term value and peace of mind, including new siding, lower windows, and doors installed in January 2021, followed by a metal roof and new gutters in February 2021. A shared laundry room provides individual hook-ups for all three units, adding convenience for tenants. Operating expenses include water, insurance, and taxes, contributing to an impressive 8% ROI. All three apartment units are fully occupied, and an additional main-level space with a half bath offers the potential to lease as a small office for added income. This is a rare opportunity to own a solid, cash-flowing property with flexibility for future growth—schedule your private showing today and be sure to view the floor plans to see the full potential.

18. 2026-04-07
    price $244,000 1395-char remark

    Show marketing remark (1395 chars)

    Invest Smart. Live Well. Own a Turn-Key Income Producer. This well-maintained 3-unit apartment building offers an exceptional investment opportunity with built-in income and future upside. The property includes two upper 1-bedroom, 1-bath apartments that were fully remodeled in the summer of 2020. Updates included new flooring, fresh paint, completely renovated kitchens, new ranges and refrigerators, under-cabinet microwaves, updated bathrooms, new electric breaker boxes, a new meter base, and upgraded electric service. The lower unit features 2 bedrooms and 1.5 baths and underwent a complete renovation in November 2021. Major exterior improvements add long-term value and peace of mind, including new siding, lower windows, and doors installed in January 2021, followed by a metal roof and new gutters in February 2021. A shared laundry room provides individual hook-ups for all three units, adding convenience for tenants. Operating expenses include water, insurance, and taxes, contributing to an impressive 8% ROI. All three apartment units are fully occupied, and an additional main-level space with a half bath offers the potential to lease as a small office for added income. This is a rare opportunity to own a solid, cash-flowing property with flexibility for future growth—schedule your private showing today and be sure to view the floor plans to see the full potential.

19. 2026-03-12
    status Active 1395-char remark

    Show marketing remark (1395 chars)

    Invest Smart. Live Well. Own a Turn-Key Income Producer. This well-maintained 3-unit apartment building offers an exceptional investment opportunity with built-in income and future upside. The property includes two upper 1-bedroom, 1-bath apartments that were fully remodeled in the summer of 2020. Updates included new flooring, fresh paint, completely renovated kitchens, new ranges and refrigerators, under-cabinet microwaves, updated bathrooms, new electric breaker boxes, a new meter base, and upgraded electric service. The lower unit features 2 bedrooms and 1.5 baths and underwent a complete renovation in November 2021. Major exterior improvements add long-term value and peace of mind, including new siding, lower windows, and doors installed in January 2021, followed by a metal roof and new gutters in February 2021. A shared laundry room provides individual hook-ups for all three units, adding convenience for tenants. Operating expenses include water, insurance, and taxes, contributing to an impressive 8% ROI. All three apartment units are fully occupied, and an additional main-level space with a half bath offers the potential to lease as a small office for added income. This is a rare opportunity to own a solid, cash-flowing property with flexibility for future growth—schedule your private showing today and be sure to view the floor plans to see the full potential.

20. 2026-03-06
    historical Contingency - Finance and Inspections 1395-char remark

    Show marketing remark (1395 chars)

    Invest Smart. Live Well. Own a Turn-Key Income Producer. This well-maintained 3-unit apartment building offers an exceptional investment opportunity with built-in income and future upside. The property includes two upper 1-bedroom, 1-bath apartments that were fully remodeled in the summer of 2020. Updates included new flooring, fresh paint, completely renovated kitchens, new ranges and refrigerators, under-cabinet microwaves, updated bathrooms, new electric breaker boxes, a new meter base, and upgraded electric service. The lower unit features 2 bedrooms and 1.5 baths and underwent a complete renovation in November 2021. Major exterior improvements add long-term value and peace of mind, including new siding, lower windows, and doors installed in January 2021, followed by a metal roof and new gutters in February 2021. A shared laundry room provides individual hook-ups for all three units, adding convenience for tenants. Operating expenses include water, insurance, and taxes, contributing to an impressive 8% ROI. All three apartment units are fully occupied, and an additional main-level space with a half bath offers the potential to lease as a small office for added income. This is a rare opportunity to own a solid, cash-flowing property with flexibility for future growth—schedule your private showing today and be sure to view the floor plans to see the full potential.

21. 2026-01-13
    listed $264,900 Active 1395-char remark

    Show marketing remark (1395 chars)

    Invest Smart. Live Well. Own a Turn-Key Income Producer. This well-maintained 3-unit apartment building offers an exceptional investment opportunity with built-in income and future upside. The property includes two upper 1-bedroom, 1-bath apartments that were fully remodeled in the summer of 2020. Updates included new flooring, fresh paint, completely renovated kitchens, new ranges and refrigerators, under-cabinet microwaves, updated bathrooms, new electric breaker boxes, a new meter base, and upgraded electric service. The lower unit features 2 bedrooms and 1.5 baths and underwent a complete renovation in November 2021. Major exterior improvements add long-term value and peace of mind, including new siding, lower windows, and doors installed in January 2021, followed by a metal roof and new gutters in February 2021. A shared laundry room provides individual hook-ups for all three units, adding convenience for tenants. Operating expenses include water, insurance, and taxes, contributing to an impressive 8% ROI. All three apartment units are fully occupied, and an additional main-level space with a half bath offers the potential to lease as a small office for added income. This is a rare opportunity to own a solid, cash-flowing property with flexibility for future growth—schedule your private showing today and be sure to view the floor plans to see the full potential.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,264
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − Depreciation: −$6,543
• Taxable income: $1,783
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $4,830/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 3-unit apartment building is in excellent condition with recent renovations, offering a turn-key investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace window seals — Improves energy efficiency and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace window seals — Improves energy efficiency and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Franklin Monroe Local
• NCES district ID: 3904664
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 83% ▲ 6.00%
• Median HH income: $55,439
• Composite: 63.97/100
• National rank: #583
• State rank: #98 of 656 in OH

Livability — Pitsburg

• Score: 64/100
• State rank: #770
• US rank: #14014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pitsburg, OH
• County: Darke · 50,606 people
• City population: 313
• Population (ZIP): 313
• Household income: $57,917
• Rent vs Own: 22.0% rent · 78.0% own

Population outlook (Darke County) Hauer SSP2

• Today (2025): 49,377 people
• By 2030: 47,494 · -3.8%
• By 2040: 43,553 · -11.8%
• By 2050: 39,320 · -20.4%
• By 2075: 30,091 · -39.1%
• By 2100: 21,110 · -57.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 2% Danish 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Darke

• 2024 margin: Solid R (+65.4) · D 17.0% · R 82.3%
• 2008→2024 swing: -29.2pp toward R · 2008: -36.1pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+63.6 2016: R+61.2 2012: R+44.9 2008: R+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.76%
• Current HPI: 218.5284
• 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

-15.1% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $224,900 WRIST
• 2026-04-07 Price Changed $244,000 WRIST
• 2026-03-12 Relisted — WRIST
• 2026-03-06 Contingent — WRIST
• 2026-01-13 Listed $264,900 WRIST