6040 Pinecrest Dr · Zanesville, OH 43701

$1

7 bd · 1.0 ba · 2,608 sqft · SingleFamily · 34 Days on market

Built 1876 112 ac 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Online Auction begins ending Saturday, April 11th, at 11:00 AM. Established in 1876, this remarkable 118-acre farm has remained in the Tanner family for five generations and is being offered to the public for the first time in over 150 years. The original farmhouse still stands in its elegant form, showcasing what appears to be a solid foundation along with original doors, trim, and windows. The home offers 7 bedrooms, 1 full bath, a kitchen, and living room, and is ready for thoughtful updating to restore it to its former glory. Utilities include a natural gas furnace, electric service, county water, septic system, and Spectrum internet availability. The farm is well-improved with multiple

Key facts

• 118 acre farm
• Original farmhouse
• Separate water well

Tags

• 118 ACRE FARM
• ORIGINAL FARMHOUSE
• MULTIPLE OUTBUILDINGS
• THREE SIDED IMPLEMENT SHED
• HORSE BARN
• SEPARATE WATER WELL

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

What this means for you Summary

Snapshot

• This is a 7-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 1572123.3% vs local median 3.3% in Zanesville — 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 74/100 on livability (#290 in OH, #4,764 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime D, commute F.
• West Muskingum Local (rural): math 46% / reading 62% proficiency, ranked #387 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 300 active listings in the ZIP; 140 units permitted in Muskingum County in 2024 (100 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/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 $0 of loan paydown is wiped out by about $0 of value loss. Plan a longer hold.
• Muskingum County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1876 — 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. 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?
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: 165836.00% ✓
• Cap rate: 1572123.28%
• Cash-on-cash: 5614703.53%
• DSCR: 249823.71
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.23% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 305511.89×
• Total profit: $85,543
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 681341.88×
• Total profit: $190,775
• Equity at exit: $0

Cash invested: $0 (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 43701

• Home prices YoY: -23.2%
• Rents YoY: 4.2%
• Active inventory: 300

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $1,310

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $1,310	-5% $1,310	+0% $1,310	+5% $1,310	+10% $1,310
Rent	-10% $1,179	-5% $1,245	+0% $1,310	+5% $1,376	+10% $1,441
Rate	-1.0pp $1,310	-0.5pp $1,310	base $1,310	+0.5pp $1,310	+1.0pp $1,310

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-13
   status Pending
2. 2026-03-10
   listed $1 Active

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $19,900
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$0
• Taxable income: $16,716
• Est. tax owed @ 24.0%: −$4,012
• After-tax cash flow: $11,709/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: West Muskingum Local
• NCES district ID: 3904888
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $48,119
• Composite: 45.86/100
• National rank: #2552
• State rank: #387 of 656 in OH

Livability — Zanesville

• Score: 74/100
• State rank: #290
• US rank: #4764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Muskingum County · 56,402 people
• City population: 56,402
• Metro: Zanesville, OH
• Population (ZIP): 56,402
• Household income: $57,565
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1619.0

Population outlook (Muskingum County) Hauer SSP2

• Today (2025): 85,625 people
• By 2030: 84,592 · -1.2%
• By 2040: 81,288 · -5.1%
• By 2050: 76,751 · -10.4%
• By 2075: 64,143 · -25.1%
• By 2100: 47,598 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Black 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Muskingum

• 2024 margin: Solid R (+43.9) · D 27.6% · R 71.6%
• 2008→2024 swing: -36.7pp toward R · 2008: -7.2pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+39.3 2016: R+35.0 2012: R+7.0 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.41%
• Current HPI: 298.9994
• Rent YoY: ▲ 4.23%
• Metro: Zanesville, 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