231 N George St · Lancaster, OH 43130

$99,999

3 bd · 1.0 ba · 928 sqft · SingleFamily public records · 4 Days on market

Built 1950 4,791 sqft lot Est $169k · 41% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

INVESTOR SPECIAL OR FIRST TIME HOME BUYER WILLING TO PUT IN A LITTLE WORK!!! HOME IS BEING SOLD AS IS AND PRICE IS REFLECTIVE OF REPAIRS NEEDED. THIS HOME IS SITUATED IN THE HEART OF BEAUTIFUL, HISTORICAL LANCASTER , OHIO. WITH OLD SCHOOL CHARM AND BEAUTIFUL VIEWS ABOUND. RISING PARK AND ALL THE CITIES RESTAURANTS ARE WTHIN WALKING DISTANCE WHICH IS AN ADDED PLUS. TAKE ADVANTAGE OF THIS LITTLE TREASURE HOUSE!

Key facts

• Historical lancaster
• Beautiful views
• 4,791 sq ft lot

Tags

• HISTORICAL LANCASTER
• BEAUTIFUL VIEWS
• WALKING DISTANCE RESTAURANTS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 1950
• Construction: No shared/common walls
• Exterior features: Slab foundation; Lot approximately 0.11 acre

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Insulated windows throughout

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 13.5% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $691 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 $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 30y 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.
• Current owner paid $60k; list at $100k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,999

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.58% ✓
• Cap rate: 13.48%
• Cash-on-cash: 25.67%
• DSCR: 2.14
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $168,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Harrison Ave	0.27mi	2/1.0 (-1)	916 (-1%)	1mo	$207,500	$227	80
134 Sherman Ave	0.48mi	3/1.0	944 (+2%)	1mo	$180,000	$191	74
507 Washington Ave	0.37mi	3/1.0	994 (+7%)	3mo	$180,000	$181	69
611 Mckinley Ave	0.58mi	3/1.0	948 (+2%)	2mo	$173,000	$182	68
216 Witte St	0.48mi	3/1.0	864 (-7%)	0mo	$135,000	$156	66
757 W Mulberry St	0.20mi	3/1.0	1,056 (+14%)	2mo	$55,000	$52	66
621 Washington Ave	0.44mi	2/1.0 (-1)	976 (+5%)	3mo	$65,000	$67	64
120 Talmadge Ave	0.49mi	2/1.0 (-1)	884 (-5%)	2mo	$202,500	$229	62
335 Whiley Ave	0.48mi	2/2.0 (-1)	960 (+3%)	3mo	$62,000	$65	60
301 Witte St	0.55mi	2/1.0 (-1)	792 (-15%)	2mo	$127,900	$161	44
721 Mckinley W	0.65mi	2/1.0 (-1)	816 (-12%)	2mo	$174,900	$214	43
738 Maryland Ave	0.65mi	2/2.0 (-1)	1,040 (+12%)	4mo	$253,000	$243	37

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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,362
• Equity at exit: $14,910

10-year hold

• IRR: 11.6%
• Equity multiple: 2.05×
• Total profit: $29,463
• Equity at exit: $8,646

Cash invested: $28,000 (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: 204
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$524
• Tax from tax record: −$80 /mo · $963/yr
• Insurance: −$42
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $172

Break-even live

Break-even rent $1,358

Max offer price $99,999

Occupancy floor 84%

Sensitivity live

Price	-10% $229	-5% $201	+0% $172	+5% $144	+10% $116
Rent	-10% $48	-5% $110	+0% $172	+5% $235	+10% $297
Rate	-1.0pp $223	-0.5pp $198	base $172	+0.5pp $147	+1.0pp $120

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	0.32mi
219 N Columbus St Unit 205 Lancaster, OH	2.0	2.0	1103	$1,875	$1.70	44d	1	0.32mi
219 N Columbus St Unit 231 Lancaster, OH	2.0	2.0	975	$1,735	$1.78	44d	1	0.32mi
607 Slocum Ave Unit A Lancaster, OH	2.0	1.0	800	$1,200	$1.50	44d	1	0.36mi
607 Slocum Ave Unit B Lancaster, OH	2.0	1.0	625	$1,050	$1.68	44d	1	0.36mi
123 W Walnut St Apt F Lancaster, OH	2.0	1.0	832	$1,100	$1.32	20d	1	0.52mi
1508 Greyfield ST Lancaster, OH	1.0–3.0	1.0–2.0	953	$1,869	$1.96	2d	1	0.53mi
622 N Broad St Unit B Lancaster, OH	2.0	1.0	700	$1,050	$1.50	44d	1	0.60mi
1733 Bellmeadow Dr Lancaster, OH	1.0–3.0	1.0–2.5	993	$1,855	$1.87	2d	10	1.18mi

Listing history 3 events

1. 2026-06-13
   statusdays on market $99,999 Pending 4 DOM
2. 2026-06-08
   remarks 415-char remark
3. 2026-06-08
   listed $99,999 Active 1 DOM

ⓘ 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: $963 · $80/mo
• Projected year-2 tax: $1,262 · $105/mo
• Expected delta: +$298/yr (+$25/mo · 31.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 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: $18,917
• − Mortgage interest: −$5,601
• − Property taxes: −$963
• − Insurance: −$5,618
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$2,909
• Taxable income: $798
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $1,878/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

+81.8% since first listed

5 events — show timeline

• 2026-06-08 Listed $99,999 CBRMLS
• 1997-05-29 Sold (Public Records) $59,900 Public Records
• 1997-05-18 Listing Removed — CBRMLS
• 1996-11-21 Listed $59,900 CBRMLS
• 1994-06-02 Sold (Public Records) $55,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $963 · +84.3% YoY. Source: county tax records.