424 N Columbus St · Lancaster, OH 43130

$200,000

3 bd · 0.5 ba · 2,333 sqft · SingleFamily public records · 38 Days on market

Built 1900 3,484 sqft lot $86/sqft · 20% below area Est $251k · 20% under

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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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Livability +4.3/5.0
• 1% rule +4.1/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to Move in! Can also go Commercial! Large kitchen, appliances convey. Large Formal Dining Room with original fireplace (now decorative). Greet guests in the Foyer, then entertain them in the Family Room which is open to the Dining Room. Tall Ceilings! Original Trim! Original Doors! Half Bath on the 1st Floor, 3 Season Mudroom and 1st floor Laundry Room. 3 Over-sized Bedrooms upstairs with a Full Bath. Closets in each bedroom with a bonus deep storage closet in the hallway. 200 amp electric has been updated. Roof 2018. HVAC 2018. Central Air throughout. All updated vinyl windows. Vinyl siding. Covered Porch. 4 off street parking spots and on street parking. Original Wood Floors are under the carpet.

Key facts

• Formal dining room
• Original doors
• Tall ceilings

Tags

• LARGE KITCHEN
• FORMAL DINING ROOM
• ORIGINAL FIREPLACE
• TALL CEILINGS
• ORIGINAL TRIM
• ORIGINAL DOORS

Property features AI

Finance

• HOA & community: Sidewalk maintained by association

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Built in 1900; No shared/common walls; Commercial possible use
• Construction: Block and stone foundation
• Exterior features: Sidewalk

Interior

• Flooring: Wood flooring; Carpet flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Decorative fireplace; Insulated windows; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/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 $183k (8.7% below list).
• Recommended offer: $183k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.2% 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); 202 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 475 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($72k/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 $6k 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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,686 (8.7% below list)

Questions for the listing agent

1. It's been on market 38 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (median comp): $250,527
• List price: $200,000
• Delta: -20.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
153 King St	0.23mi	3/2.0	2,618 (+12%)	2mo	$409,400	$156	61
347 E Wheeling St	0.49mi	3/2.0	2,235 (-4%)	7mo	$242,000	$108	58
316 Reber Ave	0.47mi	3/2.0	2,214 (-5%)	8mo	$237,500	$107	57
239 King St	0.38mi	3/2.5	2,140 (-8%)	8mo	$372,900	$174	54
408 E Mulberry St	0.52mi	4/2.0 (+1)	2,261 (-3%)	11mo	$45,000	$20	50
123 Arnold Ave	0.30mi	4/4.0 (+1)	2,108 (-10%)	3mo	$299,000	$142	49
534 E Wheeling St	0.68mi	4/1.5 (+1)	2,182 (-6%)	3mo	$273,000	$125	46
307 E Allen St	0.46mi	3/1.5	2,023 (-13%)	11mo	$385,000	$190	43
114 S Maple St	0.67mi	4/2.5 (+1)	2,160 (-7%)	0mo	$160,000	$74	43
1183 N Columbus St	0.69mi	3/3.0	2,432 (+4%)	10mo	$405,000	$167	42
363 E Mulberry St	0.48mi	4/3.0 (+1)	2,159 (-8%)	11mo	$280,000	$130	41
844 Washington Ave	0.75mi	2/1.0 (-1)	2,122 (-9%)	3mo	$150,000	$71	41

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: -9.9%
• Equity multiple: 0.63×
• Total profit: $-20,661
• Equity at exit: $29,821

10-year hold

• IRR: 2.2%
• Equity multiple: 1.17×
• Total profit: $9,654
• Equity at exit: $17,292

Cash invested: $56,000 (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 43130

• Rents YoY: 5.2%
• Active inventory: 202
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,827 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$192 /mo · $2,304/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $119

Break-even live

Break-even rent $1,676

Max offer price $200,000

Occupancy floor 88%

Sensitivity live

Price	-10% $232	-5% $176	+0% $119	+5% $62	+10% $6
Rent	-10% $-25	-5% $47	+0% $119	+5% $191	+10% $263
Rate	-1.0pp $220	-0.5pp $170	base $119	+0.5pp $67	+1.0pp $15

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 N Columbus St Lancaster, OH	1.0–2.0	1.0–2.0	1184	$1,895	$1.60	2d	31	0.15mi
635 N High St Lancaster, OH	3.0	2.0	1608	$2,200	$1.37	44d	1	0.36mi

Listing history 19 events

1. 2026-06-21
   days on market $200,000 Active 38 DOM
2. 2026-06-18
   days on market $200,000 Active 35 DOM
3. 2026-06-17
   days on market $200,000 Active 34 DOM
4. 2026-06-16
   days on market $200,000 Active 33 DOM
5. 2026-06-15
   days on market $200,000 Active 32 DOM
6. 2026-06-13
   days on market $200,000 Active 30 DOM
7. 2026-06-09
   days on market $200,000 Active 26 DOM
8. 2026-06-08
   days on market $200,000 Active 25 DOM
9. 2026-06-07
   days on market $200,000 Active 24 DOM
10. 2026-06-03
    days on market $200,000 Active 20 DOM
11. 2026-06-02
    days on market $200,000 Active 19 DOM
12. 2026-06-01
    days on market $200,000 Active 18 DOM
13. 2026-05-31
    days on market $200,000 Active 17 DOM
14. 2026-05-14
    listed $200,000 Active 714-char remark
15. 2024-05-17
    soldstatus $180,000
16. 2024-05-15
    soldstatus $180,000 Closed 714-char remark

    Show marketing remark (714 chars)

    Ready to Move in! Can also go Commercial! Large kitchen, appliances convey. Large Formal Dining Room with original fireplace (now decorative). Greet guests in the Foyer, then entertain them in the Family Room which is open to the Dining Room. Tall Ceilings! Original Trim! Original Doors! Half Bath on the 1st Floor, 3 Season Mudroom and 1st floor Laundry Room. 3 Over-sized Bedrooms upstairs with a Full Bath. Closets in each bedroom with a bonus deep storage closet in the hallway. 200 amp electric has been updated. Roof 2018. HVAC 2018. Central Air throughout. All updated vinyl windows. Vinyl siding. Covered Porch. 4 off street parking spots and on street parking. Original Wood Floors are under the carpet.

17. 2024-03-29
    historical Contingent Finance and Inspection 714-char remark

    Show marketing remark (714 chars)

    Ready to Move in! Can also go Commercial! Large kitchen, appliances convey. Large Formal Dining Room with original fireplace (now decorative). Greet guests in the Foyer, then entertain them in the Family Room which is open to the Dining Room. Tall Ceilings! Original Trim! Original Doors! Half Bath on the 1st Floor, 3 Season Mudroom and 1st floor Laundry Room. 3 Over-sized Bedrooms upstairs with a Full Bath. Closets in each bedroom with a bonus deep storage closet in the hallway. 200 amp electric has been updated. Roof 2018. HVAC 2018. Central Air throughout. All updated vinyl windows. Vinyl siding. Covered Porch. 4 off street parking spots and on street parking. Original Wood Floors are under the carpet.

18. 2024-03-25
    listed $176,000 Active 714-char remark

    Show marketing remark (714 chars)

    Ready to Move in! Can also go Commercial! Large kitchen, appliances convey. Large Formal Dining Room with original fireplace (now decorative). Greet guests in the Foyer, then entertain them in the Family Room which is open to the Dining Room. Tall Ceilings! Original Trim! Original Doors! Half Bath on the 1st Floor, 3 Season Mudroom and 1st floor Laundry Room. 3 Over-sized Bedrooms upstairs with a Full Bath. Closets in each bedroom with a bonus deep storage closet in the hallway. 200 amp electric has been updated. Roof 2018. HVAC 2018. Central Air throughout. All updated vinyl windows. Vinyl siding. Covered Porch. 4 off street parking spots and on street parking. Original Wood Floors are under the carpet.

19. 1995-07-31
    soldstatus $83,500

ⓘ 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: $2,304 · $192/mo
• Projected year-2 tax: $2,712 · $226/mo
• Expected delta: +$408/yr (+$34/mo · 17.7%)

ⓘ 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 ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $21,922
• − Mortgage interest: −$11,203
• − Property taxes: −$2,304
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$5,818
• Taxable loss: −$1,910
• Est. tax savings @ 24.0%: +$458
• After-tax cash flow: $1,888/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

+139.5% since first listed

6 events — show timeline

• 2026-05-14 Listed $200,000 CBRMLS
• 2024-05-17 Sold (Public Records) $180,000 Public Records
• 2024-05-15 Sold (MLS) $180,000 CBRMLS
• 2024-03-29 Contingent — CBRMLS
• 2024-03-25 Listed $176,000 CBRMLS
• 1995-07-31 Sold (Public Records) $83,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,304 · +67.1% YoY. Source: county tax records.