8992 Canoe Dr · Lake Darby, OH 43119

$1

3 bd · 1.5 ba · 1,372 sqft · SingleFamily public records · 29 Days on market

Built 1978 Good condition 7,405 sqft lot

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Why this score? — see what drove the D- 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 +8.1/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• 1% rule +2.5/10.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property will be sold at an in-person auction, Rain or Shine on Saturday, May 9, 2026 at 10:00 AM. All prospective buyers must register prior to bidding. The property is being sold as-is. Welcome to 8992 Canoe Drive, Galloway, Ohio--a 3-bedroom, 1.5-bath home located in the desirable Hilliard City School District. This home features an updated kitchen with modern finishes, renovated bathrooms, and newer flooring throughout. A new roof installed in 2023 adds additional value and peace of mind. The functional floor plan offers comfortable living spaces suitable for a variety of buyers, including owner-occupants and investors. Conveniently located in Galloway with access to Hilliard schools, this is a great opportunity you won't want to miss. Open House Dates: Saturday, April 18, 2026 from 1:00 PM to 3:00 PM Saturday, May 2, 2026 from 1:00 PM to 3:00 PM Morning of the auction on Saturday, May 9, 2026 prior to 10:00 AM

Key facts

• Renovated bathrooms
• Updated kitchen
• New roof

Tags

• UPDATED KITCHEN
• RENOVATED BATHROOMS
• NEW ROOF
• FUNCTIONAL FLOOR PLAN
• ACCESS TO HILLIARD SCHOOLS

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $296,700 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $1. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-286 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).

Location & tenants

• Location reads 67/100 on livability (#609 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Hilliard City (suburban): math 57% / reading 62% proficiency, ranked #246 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Brown Elementary School (math 51% / reading 59%, grade C, #778 of 1,584 statewide, top 50%, 447 students, 21% FRL); Hilliard Memorial Middle School (math 66% / reading 58%, grade B+, #242 of 654 statewide, top 38%, 790 students, 29% FRL); Hilliard Bradley High School (math 47% / reading 68%, grade C, #272 of 781 statewide, top 35%, 1,623 students, 25% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 111 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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: property tax is 445050.5% of price.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 11.1

CMA / ARV

• ARV (median comp): $296,700
• List price: $1
• Delta: -100.00%
• 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
8992 Canoe Dr	0.00mi	3/1.5	1,372 (0%)	0mo	$198,000	$144	100
914 Slagle Pl	0.23mi	3/1.5	1,428 (+4%)	3mo	$306,000	$214	80
860 Slagle Pl	0.24mi	3/1.5	1,508 (+10%)	1mo	$315,000	$209	72
638 Darlene Pl	0.48mi	4/2.5 (+1)	1,420 (+4%)	2mo	$367,500	$259	61
8659 Cadet Dr N	0.44mi	3/2.5	1,508 (+10%)	2mo	$360,000	$239	58
716 Academy Dr	0.45mi	3/2.0	1,224 (-11%)	2mo	$325,000	$266	57
8652 Westpoint Dr	0.47mi	3/2.0	1,224 (-11%)	2mo	$325,000	$266	56
652 Academy Dr	0.53mi	3/1.0	1,224 (-11%)	1mo	$295,000	$241	54
8450 Munitions Ct	0.72mi	3/2.5	1,444 (+5%)	0mo	$344,900	$239	54
1224 Four Star Dr W	0.75mi	3/2.5	1,437 (+5%)	0mo	$335,000	$233	53
8466 Squad Dr	0.66mi	3/2.0	1,530 (+12%)	1mo	$374,000	$244	47
1280 Four Star Dr W	0.74mi	3/2.0	1,526 (+11%)	4mo	$346,000	$227	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 · 4.33% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.24×
• Total profit: $-63,220
• Equity at exit: $44,239

10-year hold

• IRR: -12.7%
• Equity multiple: 0.21×
• Total profit: $-65,585
• Equity at exit: $25,653

Cash invested: $83,076 (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 43119

• Rents YoY: 4.3%
• Active inventory: 111

Monthly cashflow live

• Estimated rent: $2,234 medium
• Mortgage (P&I): −$1,556
• Tax est. 1.5%: −$371 /mo · $4,451/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-286

Break-even live

Break-even rent $2,595

Max offer price $255,341

Occupancy floor —

Sensitivity live

Price	-10% $-81	-5% $-183	+0% $-286	+5% $-388	+10% $-491
Rent	-10% $-462	-5% $-374	+0% $-286	+5% $-198	+10% $-109
Rate	-1.0pp $-136	-0.5pp $-210	base $-286	+0.5pp $-363	+1.0pp $-441

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: $74,175
• Closing costs: $8,901
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8677 Canyon Cove Rd Galloway, OH	4.0	1.5	1450	$2,100	$1.45	45d	1	0.99mi
429 Red Elderberry Dr West Jefferson, OH	2.0	2.0	1310	$2,187	$1.67	3d	5	1.20mi

Listing history 9 events

1. 2026-05-09
   status Pending 936-char remark

   Show marketing remark (936 chars)

   This property will be sold at an in-person auction, Rain or Shine on Saturday, May 9, 2026 at 10:00 AM. All prospective buyers must register prior to bidding. The property is being sold as-is. Welcome to 8992 Canoe Drive, Galloway, Ohio--a 3-bedroom, 1.5-bath home located in the desirable Hilliard City School District. This home features an updated kitchen with modern finishes, renovated bathrooms, and newer flooring throughout. A new roof installed in 2023 adds additional value and peace of mind. The functional floor plan offers comfortable living spaces suitable for a variety of buyers, including owner-occupants and investors. Conveniently located in Galloway with access to Hilliard schools, this is a great opportunity you won't want to miss. Open House Dates: Saturday, April 18, 2026 from 1:00 PM to 3:00 PM Saturday, May 2, 2026 from 1:00 PM to 3:00 PM Morning of the auction on Saturday, May 9, 2026 prior to 10:00 AM

2. 2026-04-10
   listed $1 Active 936-char remark

   Show marketing remark (936 chars)

   This property will be sold at an in-person auction, Rain or Shine on Saturday, May 9, 2026 at 10:00 AM. All prospective buyers must register prior to bidding. The property is being sold as-is. Welcome to 8992 Canoe Drive, Galloway, Ohio--a 3-bedroom, 1.5-bath home located in the desirable Hilliard City School District. This home features an updated kitchen with modern finishes, renovated bathrooms, and newer flooring throughout. A new roof installed in 2023 adds additional value and peace of mind. The functional floor plan offers comfortable living spaces suitable for a variety of buyers, including owner-occupants and investors. Conveniently located in Galloway with access to Hilliard schools, this is a great opportunity you won't want to miss. Open House Dates: Saturday, April 18, 2026 from 1:00 PM to 3:00 PM Saturday, May 2, 2026 from 1:00 PM to 3:00 PM Morning of the auction on Saturday, May 9, 2026 prior to 10:00 AM

3. 2021-10-18
   soldstatus $175,000
4. 2017-12-14
   soldstatus $157,900
5. 2017-12-08
   soldstatus $157,900 Closed 768-char remark

   Show marketing remark (768 chars)

   New Price!Move in ready home in Hilliard schools. Flex room off the entryway can be used as an office or a living room. Huge eat in kitchen with plenty of counter space for the chef in the family. SS appliances. Laminate floors. Great room with wood burning fireplace and ceiling fan. Finished lower level. Master bedroom can accommodate all of your over sized furniture. Spacious spare bedrooms. Whole house attic fan. Fenced in backyard with a deck, shed and a fire pit! Perfect for entertaining. Updates include newer windows, siding, carpet, laminate floors, paint throughout, ceiling fans, full bath, deck, shed, professionally landscaped and more! Minutes to freeway, metro parks, Prairie township rec center and Darby Creek. Possibly ZERO down with a USDA loan.

6. 2017-10-26
   historical Contingent Finance and Inspection 768-char remark

   Show marketing remark (768 chars)

   New Price!Move in ready home in Hilliard schools. Flex room off the entryway can be used as an office or a living room. Huge eat in kitchen with plenty of counter space for the chef in the family. SS appliances. Laminate floors. Great room with wood burning fireplace and ceiling fan. Finished lower level. Master bedroom can accommodate all of your over sized furniture. Spacious spare bedrooms. Whole house attic fan. Fenced in backyard with a deck, shed and a fire pit! Perfect for entertaining. Updates include newer windows, siding, carpet, laminate floors, paint throughout, ceiling fans, full bath, deck, shed, professionally landscaped and more! Minutes to freeway, metro parks, Prairie township rec center and Darby Creek. Possibly ZERO down with a USDA loan.

7. 2017-10-23
   price $154,900 768-char remark

   Show marketing remark (768 chars)

   New Price!Move in ready home in Hilliard schools. Flex room off the entryway can be used as an office or a living room. Huge eat in kitchen with plenty of counter space for the chef in the family. SS appliances. Laminate floors. Great room with wood burning fireplace and ceiling fan. Finished lower level. Master bedroom can accommodate all of your over sized furniture. Spacious spare bedrooms. Whole house attic fan. Fenced in backyard with a deck, shed and a fire pit! Perfect for entertaining. Updates include newer windows, siding, carpet, laminate floors, paint throughout, ceiling fans, full bath, deck, shed, professionally landscaped and more! Minutes to freeway, metro parks, Prairie township rec center and Darby Creek. Possibly ZERO down with a USDA loan.

8. 2017-10-06
   listed $159,900 Active 768-char remark

   Show marketing remark (768 chars)

   New Price!Move in ready home in Hilliard schools. Flex room off the entryway can be used as an office or a living room. Huge eat in kitchen with plenty of counter space for the chef in the family. SS appliances. Laminate floors. Great room with wood burning fireplace and ceiling fan. Finished lower level. Master bedroom can accommodate all of your over sized furniture. Spacious spare bedrooms. Whole house attic fan. Fenced in backyard with a deck, shed and a fire pit! Perfect for entertaining. Updates include newer windows, siding, carpet, laminate floors, paint throughout, ceiling fans, full bath, deck, shed, professionally landscaped and more! Minutes to freeway, metro parks, Prairie township rec center and Darby Creek. Possibly ZERO down with a USDA loan.

9. 1983-06-01
   soldstatus $52,714

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,804
• − Mortgage interest: −$16,620
• − Property taxes: −$4,451
• − Insurance: −$1,484
• − Repairs & maintenance: −$2,144
• − Management: −$2,144
• − Depreciation: −$8,631
• Taxable loss: −$8,670
• Est. tax savings @ 24.0%: +$2,081
• After-tax cash flow: $-1,349/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 · 12 photos

Good 80/100 Cosmetic rehab

This 3-bedroom, 1.5-bath home in the Hilliard City School District is in good condition with recent updates and a new roof. It's ready for a new owner or investor to move in.

Value-add opportunities

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

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — 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: Hilliard City
• NCES district ID: 3904701
• Math proficiency: 57% ▼ -14.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $77,944
• Composite: 53.32/100
• National rank: #1479
• State rank: #246 of 656 in OH

Livability — Lake Darby

• Score: 67/100
• State rank: #609
• US rank: #10426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Darby, OH
• County: Franklin County · 1,351,780 people
• Metro: Columbus, OH
• Population (ZIP): 29,660
• Household income: $91,224
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 583.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 1,456,139 people
• By 2030: 1,556,890 · +6.9%
• By 2040: 1,757,349 · +20.7%
• By 2050: 1,950,539 · +34.0%
• By 2075: 2,376,171 · +63.2%
• By 2100: 2,636,796 · +81.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Black 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 4% Subsaharan African 2% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+28.4) · D 63.7% · R 35.3% · Other 1.0%
• 2008→2024 swing: +7.7pp toward D · 2008: 20.7pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+31.4 2016: D+25.9 2012: D+21.7 2008: D+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.31%
• Current HPI: 256.3516
• Rent YoY: ▲ 4.33%
• 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

+232.0% since first listed

9 events — show timeline

• 2026-05-09 Pending — CBRMLS
• 2026-04-10 Listed $1 CBRMLS
• 2021-10-18 Sold (Public Records) $175,000 Public Records
• 2017-12-14 Sold (Public Records) $157,900 Public Records
• 2017-12-08 Sold (MLS) $157,900 CBRMLS
• 2017-10-26 Contingent — CBRMLS
• 2017-10-23 Price Changed $154,900 CBRMLS
• 2017-10-06 Listed $159,900 CBRMLS
• 1983-06-01 Sold (Public Records) $52,714 Public Records

Property tax history

+5.0%/yr

Latest (2024): $6,295 · +11.7% YoY. Source: county tax records.