506 E Water St, Prospect, OH 43342 Property Records

Marion County property record for 506 E Water St, Prospect, OH 43342

Property Summary

Property Type	Single Family Home
Details	3 bd · 1.5 ba · 1,840 sqft · built 1926
Lot Size	0.183 acres (7,969 sqft)
Owner	2 Individual Names on Record
Last Sale	$191,000 (Mar 2024)
Tax Bill	$3,164 (2025)
Deeds & Mortgages	Mar 2024 Sale & Mortgage Jul 2022 Sale & Line of Credit
Flood Zone	Zone X (minimal risk)
APN	`27-0020014.200`

Property Details

APN / Parcel Number

Primary APN	`27-0020014.200`
Alternative APN	`030007600`

Interior

Bedrooms	3 Beds
Full Baths	1.5 Baths
Half Baths	1 Half Bath
Total Rooms	6 Rooms
Stories	2 Stories
Building Area	1,840 sqft Living Area
Gross Area	3,400 sqft
1st Floor Area	920 sqft
Upper Floors Area	920 sqft
Basement Area	780 sqft
Flooring	Carpet
Interior Walls	Block

Exterior

Year Built	Built 1926
Effective Year Built	Effective 1926
Construction Type	Frame
Roof Material	Other
Lot Area	7,969 sqft (0.183 acres)
Lot Width	50.3 ft Width
Garage Type	Detached
Garage Area	400 sqft
Porch	Covered Porch
Patio Area	84 sqft

Utilities, Heating & Cooling

Heating System	Central
Heating Fuel	Gas

Location & Zoning

Street Address	506 E WATER ST
City	PROSPECT
State	OH
Zip	43342-9724
Property Category	Residential
Property Type	Residential > Single Family > Home
Legal Description	GAST & DAVIS LOT 212 PG 9 101 2.00 142.00
Legal Subdivision	GAST & DAVIS
Legal Lot Number	212
Jurisdiction	MARION OH
Township / Civil Division	PROSPECT
Census Block Group	1
Census Block	1028
Census Tract	10500

Owner

Source: Marion County records, as of February 9, 2026

Owner names and exact recorded amounts shown locked on this page are available instantly with a free trial.

Owner of Record	2 Individual Names on Record
Mailing Address	506 E WATER ST, PROSPECT, OH 43342-9724
Occupancy	Owner Occupied
Owner Type	Individual
Vesting	Remainderman

Deeds, Mortgages & Sale History

Date	Document
Mar 18, 2024	Survivorship Deed, Transfer · Conventional Mortgage THE EQUITABLE MORTGAGE CORP
Jul 6, 2022	Warranty Deed, Transfer · Line of Credit THE RICHWOOD BANKING CO

Assessor's Deed Record

Deed Names	2 Names on Deed
Last Sale	Mar 18, 2024 · Amount on Record
Deed Sale	Mar 18, 2024 · Amount on Record
Prior Sale	Jul 6, 2022 · Amount on Record
Deed Document Number	20241418
Deed Book / Page	1689 / 870
Prior Transfer Date	Sep 1, 2016
Prior Transfer Doc	0013690406
Record Updated	Jun 8, 2026

March 2024: Survivorship Deed, Transfer

Document Type	Survivorship Deed
Jurisdiction	MARION OH
Recording Date	Mar 18, 2024
Property Address	506 E WATER ST, PROSPECT, OH 43342-9724
Document Number	0016890870
Book / Page	1689 / 870
Instrument Date	Mar 15, 2024
Instrument	2024-01418
Transaction Type	Transfer
Record Updated	Apr 1, 2024

Transaction

Amount	Amount Recorded
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$0.00
Amount Accuracy	Rounded by County
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Right of Survivorship
Address	506 E WATER ST, PROSPECT, OH 43342-9724

Mortgage

Document Number	0202401419
Date	Mar 18, 2024
Instrument	2024-01419

Lender

Name	THE EQUITABLE MORTGAGE CORP
Type	Mortgage Company

Agreement

Type	Conventional Mortgage
Amount	Amount Recorded
Term	361 Months
Due	Apr 1, 2054

July 2022: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	MARION OH
Recording Date	Jul 6, 2022
Property Address	506 E WATER ST, PROSPECT, OH 43342-9724
Document Number	0016250727
Book / Page	1625 / 727
Instrument Date	Jun 29, 2022
Instrument	2022-04841
Transaction Type	Transfer
Record Updated	Jul 18, 2022

Transaction

Amount	Amount Recorded
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$0.00
Amount Accuracy	Rounded by County
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Right of Survivorship

Mortgage

Document Number	0202204842
Date	Jul 6, 2022
Instrument	2022-04842

Lender

Name	THE RICHWOOD BANKING CO
Type	Bank

Agreement

Type	Line of Credit
Amount	Amount Recorded

Tax Assessment & Valuation

Source: Marion County assessment roll, as of February 9, 2026

Property Jurisdictions

Type	Name
State	Ohio
County	Marion County
County Subdivision	Prospect Township
Municipality	Prospect Village
Unified School District	Elgin Local School District (PK - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025	$3,164.00 (+51.75%)	$78,960 (+82.31%) Land $9,290 Building $69,670	$225,600 (+82.32%) Land $26,540 Building $199,060
2024	$2,085.00 (+0.92%)	$43,310 (-) Land $9,740 Building $33,570
2023	$2,066.00 (-2.73%)	$43,310 (-) Land $9,740 Building $33,570
2022	$2,124.00	$43,310 Land $9,740 Building $33,570	$123,740 Land $27,830 Building $95,910

Assessed value and assessed market value are set for property tax purposes, not market price estimates; both are a fraction of this property's market value.

Flood

Source: FEMA National Flood Hazard Layer, effective October 29, 2024 · OpenFEMA NFIP redacted claims and policies, as of September 2026

FEMA Flood Zone	Zone X minimal risk
Nearest Special Flood Hazard Area	Zone AE, within 500 ft
Flood Insurance Requirement	Not required lenders may require it
Flood Insurance Cost	Premium on Record median of 44 policies
Nearby Flood Policies	44 in force
Nearby Flood Claims	82 (1978–2025)
Claims Outside the SFHA	7 of 82
Most Recent Claim	Apr 2025 · river or lake flooding
Claims by Event	Severe Winter Storms, Flooding, And Mudslides, Jan 2005 · 12 claims Severe Storms And Flooding, Aug 1995 · 17 claims Severe Storms & Flooding, Jul 1987 · 7 claims

Values are read at the parcel center point; flood claims are located to the census block group, not this parcel; lenders make the official flood determination.

Wildfire

Source: USDA Forest Service Wildfire Risk to Communities (2nd edition), as of 2024

Wildfire Risk	Not rated no burnable land within ember reach

Values cover an area roughly 900 ft across, not the parcel itself; insurers use their own ratings.

Drinking Water

Source: EPA Safe Drinking Water Information System, as of September 2026

Water System	AQUA OHIO - MARION private · serves 47,102 people · EPA ID OH5100414
Water Source	Surface water
Last State Inspection	Mar 2025
Lead	4 ppb (2021–2023) action level 15 ppb

Violations Reported to EPA

Water Quality	None last 10 years
Treatment and Procedure	None last 10 years
Monitoring and Reporting	None last 3 years

Results are for the whole water system, not water tested at this address; lead at the tap also depends on the building's own pipes.

Internet Providers

Source: FCC Broadband Data Collection, based on 328 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Frontier Fiber	7,000 / 7,000
Spectrum Cable · Fiber in parts of the area	1,000 / 1,000
Mercury Fiber Fixed Wireless	150 / 20

May also be available: Bresco Broadband, Verizon.

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