516 N Eastwood Ave · Lancaster, OH 43130

$89,000

1 bd · 1.0 ba · 576 sqft · SingleFamily public records · 3 Days on market

Built 1949 4,791 sqft lot Est $103k · 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 +27.9/30.0
• ARV discount +13.4/15.0
• DSCR +9.9/10.0
• 1% rule +7.5/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute as a button one bedroom one bath home being used as a rental with a long term tenant who would like to stay. Property is being sold as-is. House next door at 514 is also being sold by same seller and is a rental. Great opportunity to add to your portfolio! 24 hour notice required for showings, please do not bother tenant.

Key facts

• 4,791 sq ft lot
• Built 1949
• Listed 3 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 1949; No shared/common walls
• Construction: Block foundation; Built in 1949
• Exterior features: Block foundation; Lot approximately 0.11 acre

Interior

• Bedrooms: 1 main-level bedroom
• Flooring: Laminate flooring; Carpeted areas
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Insulated partial windows; Full walk-up basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 10.0% vs local median 4.0% in Lancaster — 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 86/100 on livability (#41 in OH, #423 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D, employment D.
• Lancaster City (town): math 38% / reading 51% proficiency, ranked #504 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 204 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 475 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fairfield County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.25% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.26%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $102,528
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 N Eastwood Ave	0.00mi	1/1.0	576 (0%)	1mo	$89,000	$155	99
1214 E Allen St	0.41mi	1/1.0	633 (+10%)	19mo	$132,000	$209	49
1413 E Mulberry St	0.61mi	2/1.0 (+1)	624 (+8%)	8mo	$111,000	$178	46

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 · 5.22% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.23×
• Total profit: $5,661
• Equity at exit: $13,270

10-year hold

• IRR: 17.0%
• Equity multiple: 2.54×
• Total profit: $38,443
• Equity at exit: $7,695

Cash invested: $24,920 (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 43130

• Rents YoY: 5.2%
• Active inventory: 204
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,111 high
• Mortgage (P&I): −$467
• Tax from tax record: −$99 /mo · $1,186/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $275

Break-even live

Break-even rent $763

Max offer price $89,000

Occupancy floor 70%

Sensitivity live

Price	-10% $326	-5% $301	+0% $275	+5% $250	+10% $225
Rent	-10% $188	-5% $231	+0% $275	+5% $319	+10% $363
Rate	-1.0pp $320	-0.5pp $298	base $275	+0.5pp $252	+1.0pp $229

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
637 E Wheeling St Apt A Lancaster, OH	—	1.0	628	$895	$1.43	4d	1	0.33mi
622 N Broad St Unit B Lancaster, OH	2.0	1.0	700	$1,050	$1.50	44d	1	0.82mi
128 N Broad St Lancaster, OH	1.0	1.0	573	$1,250	$2.18	44d	1	0.88mi
1508 Greyfield ST Lancaster, OH	1.0–3.0	1.0–2.0	953	$1,260	$1.32	2d	1	0.91mi
123 N Broad St Unit 201 Lancaster, OH	1.0	1.5	592	$1,350	$2.28	4d	1	0.92mi
1405 Conquest ST Lancaster, OH	1.0	1.0	681	$1,260	$1.85	2d	1	0.92mi
116 W Chestnut St Apt 2 Lancaster, OH	—	1.0	634	$725	$1.14	3d	1	1.00mi
219 N Columbus St Lancaster, OH	1.0	1.0	686	$1,440	$2.10	44d	1	1.04mi
219 N Columbus St Unit 237 Lancaster, OH	1.0	1.0	564	$1,395	$2.47	44d	1	1.04mi
219 N Columbus St Lancaster, OH	1.0–2.0	1.0–2.0	1184	$1,295	$1.09	2d	31	1.04mi
219 N Columbus St Unit 206 Lancaster, OH	1.0	1.0	559	$1,345	$2.41	44d	1	1.04mi
123 W Walnut St Unit C Lancaster, OH	1.0	1.0	660	$875	$1.33	17d	1	1.04mi
1250 Sheridan Dr Lancaster, OH	1.0–3.0	1.0–1.5	959	$1,000	$1.04	2d	5	1.21mi
607 Slocum Ave Unit B Lancaster, OH	2.0	1.0	625	$1,050	$1.68	44d	1	1.46mi

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-28
   listed $89,000 Active

ⓘ 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: $1,186 · $99/mo
• Projected year-2 tax: $1,287 · $107/mo
• Expected delta: +$101/yr (+$8/mo · 8.6%)

ⓘ 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,336
• − Mortgage interest: −$4,985
• − Property taxes: −$1,186
• − Insurance: −$445
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$2,589
• Taxable income: $1,997
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $2,825/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: Lancaster City
• NCES district ID: 3904420
• Math proficiency: 38% ▼ -21.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $41,696
• Composite: 37.39/100
• National rank: #4427
• State rank: #504 of 656 in OH

Livability — Lancaster

• Score: 86/100
• State rank: #41
• US rank: #423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, OH
• County: Fairfield County · 109,896 people
• City population: 62,933
• Metro: Columbus, OH
• Population (ZIP): 62,933
• Household income: $72,153
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 1400.0

Population outlook (Fairfield County) Hauer SSP2

• Today (2025): 162,442 people
• By 2030: 166,796 · +2.7%
• By 2040: 172,835 · +6.4%
• By 2050: 174,822 · +7.6%
• By 2075: 174,938 · +7.7%
• By 2100: 160,988 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Fairfield

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.6%
• 2008→2024 swing: -6.9pp toward R · 2008: -17.1pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.5 2016: R+27.0 2012: R+16.1 2008: R+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.81%
• Current HPI: 239.6352
• Rent YoY: ▲ 5.22%
• Metro: Columbus, 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

2 events — show timeline

• 2026-05-01 Pending — CBRMLS
• 2026-04-28 Listed $89,000 CBRMLS

Property tax history

+4.9%/yr

Latest (2025): $1,186 · +51.1% YoY. Source: county tax records.