1121 Tarkiln Rd SE #109 · Lancaster, OH 43130

$84,900

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 179 Days on market

Built 2023 Good condition $70/sqft · 46% below area Est $158k · 46% under $430/mo HOA · 27% of rent ↓ 11% since listing

---

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 +27.3/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• Schools +5.9/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

Key facts

• Move-in ready
• Open floor plan
• Front deck

Tags

• OPEN FLOOR PLAN
• NEW STAINLESS STEEL APPLIANCES
• FRONT DECK
• STORAGE SHED
• MOVE-IN READY
• DESIRABLE COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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.
• Berne Union Local (rural): math 63% / reading 73% proficiency, ranked #321 of 802 in OH (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.2%/yr); 204 active listings in the ZIP; 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 $587 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 $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 1.88% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.37%
• DSCR: 1.55
• GRM: 4.4

CMA / ARV

• ARV (median comp): $157,706
• List price: $84,900
• Delta: -46.17%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 Tarkiln Rd SE #109	0.00mi	3/2.0	1,216 (0%)	0mo	$72,000	$59	100
1014 Tarkiln Rd SE	0.13mi	3/2.0	1,136 (-7%)	22mo	$217,000	$191	64
404 Ross Rd SE	0.70mi	3/2.0	1,344 (+10%)	9mo	$220,000	$164	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 · 5.22% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $5,783
• Equity at exit: $12,659

10-year hold

• IRR: 18.3%
• Equity multiple: 2.77×
• Total profit: $41,960
• Equity at exit: $7,341

Cash invested: $23,772 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$430
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $245

Break-even live

Break-even rent $1,287

Max offer price $84,900

Occupancy floor 80%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $430 · $5,160/yr

Listing history 6 events

1. 2026-05-07
   status Pending 442-char remark

   Show marketing remark (442 chars)

   Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

2. 2026-04-09
   status Active 442-char remark

   Show marketing remark (442 chars)

   Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

3. 2026-04-09
   price $84,900 442-char remark

   Show marketing remark (442 chars)

   Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

4. 2026-01-17
   historical 442-char remark

   Show marketing remark (442 chars)

   Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

5. 2025-09-08
   price $89,900 442-char remark

   Show marketing remark (442 chars)

   Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

6. 2025-08-18
   listed $94,900 Active 442-char remark

   Show marketing remark (442 chars)

   Welcome to Rustic Ridge! This 2023 single-wide manufactured home offers 3 bedrooms, 2 full baths, and an open floor plan designed for modern living. The home measures 16x76 and features new stainless steel appliances, a front deck, and a storage shed for added convenience. This home may be purchased to remain in the park or relocated off-site. A well-kept property in a desirable community, it's move-in ready and waiting for its next owner

ⓘ 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: $19,166
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − HOA: −$5,160
• − Depreciation: −$2,470
• Taxable income: $2,016
• Est. tax owed @ 24.0%: −$484
• After-tax cash flow: $2,456/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 75/100 Cosmetic rehab

This 2023 single-wide manufactured home is move-in ready with good condition and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Rental Clean gutters — Keeps property in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Rental Clean gutters — Keeps property in good condition ↑

ⓘ 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: Berne Union Local
• NCES district ID: 3904685
• Math proficiency: 63% ▼ -3.00%
• Reading proficiency: 73% ▼ -3.00%
• Median HH income: $52,595
• Composite: 59.22/100
• National rank: #1932
• State rank: #321 of 802 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

• 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

-10.5% since first listed

6 events — show timeline

• 2026-05-07 Pending — CBRMLS
• 2026-04-09 Relisted — CBRMLS
• 2026-04-09 Price Changed $84,900 CBRMLS
• 2026-01-17 Listing Removed — CBRMLS
• 2025-09-08 Price Changed $89,900 CBRMLS
• 2025-08-18 Listed $94,900 CBRMLS