11050 Fancher Rd #54 · Columbus, OH 43082

$45,900

3 bd · 2.0 ba · 950 sqft · SingleFamily · 9 Days on market

Built 1997 Good condition Est $44k · 5% over $908/mo HOA · 43% of rent

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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
• Schools +6.3/10.0
• ARV discount +5.2/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity to own in the desirable Westerville area with access to the highly rated Big Walnut School District! This well-maintained 3-bedroom, 2-bath manufactured home offers comfortable living in a convenient Delaware County location near shopping, dining, parks, and major roadways. Located in a land lease community, this home provides an affordable option for buyers seeking homeownership at an accessible price point. Home is being sold as personal property (not real estate). Community approval required prior to occupancy. Buyer must complete community application and verify monthly lot rent, fees, and park requirements. A great opportunity to enjoy the Westerville lifestyle a

Key facts

• Community pool
• Built 1997
• Listed 8 days

Tags

• BIG WALNUT SCHOOL DISTRICT
• DELAWARE COUNTY LOCATION

Property features AI

Finance

• Other: Located in the Westerville Estates subdivision, Genoa township
• HOA & community: Homeowners association; Monthly association fee of $908; Association amenities: basketball court, clubhouse, outdoor sports area, park, pool; Association fee covers security, sewer, trash, and water

Exterior

• Parking: On-street parking; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Other residential without deeded land; One story; Built in 1997; No shared/common walls
• Construction: Block foundation
• Exterior features: Deck; Shed(s) and outbuilding

Interior

• Bedrooms: 3 main-level bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Wall furnace
• Interior features: Living area approximately 950; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $46k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Cap rate 17.9% vs local median 3.8% in Columbus — 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 81/100 on livability (#97 in OH, #1,491 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F.
• Big Walnut Local (rural): math 68% / reading 75% proficiency, ranked #103 of 656 in OH (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.7%/yr); 126 active listings in the ZIP; high-income renter base; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).
• This rent is only 17% of the median local income ($148k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $45,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
4. 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?
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: 4.60% ✓
• Cap rate: 17.87%
• Cash-on-cash: 41.35%
• DSCR: 2.84
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $43,700
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11050 Fancher Rd #83	0.09mi	3/2.0	980 (+3%)	5mo	$45,000	$46	87
11050 Fancher Rd Lot 103	0.14mi	3/2.0	1,092 (+15%)	1mo	$41,300	$38	68
11050 Fancher Rd #270	0.29mi	2/2.0 (-1)	980 (+3%)	11mo	$33,000	$34	67
11050 Fancher Rd #97	0.29mi	3/1.0	980 (+3%)	22mo	$64,900	$66	58

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 · 1.68% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 2.45×
• Total profit: $18,593
• Equity at exit: $6,844

10-year hold

• IRR: 40.8%
• Equity multiple: 4.41×
• Total profit: $43,850
• Equity at exit: $3,969

Cash invested: $12,852 (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 43082

• Home prices YoY: -32.8%
• Rents YoY: 1.7%
• Active inventory: 126
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,112 medium
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $688/yr
• Insurance: −$19
• HOA: −$908
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $443

Break-even live

Break-even rent $1,551

Max offer price $45,900

Occupancy floor 74%

Sensitivity live

Price	-10% $475	-5% $459	+0% $443	+5% $427	+10% $411
Rent	-10% $276	-5% $360	+0% $443	+5% $526	+10% $610
Rate	-1.0pp $466	-0.5pp $455	base $443	+0.5pp $431	+1.0pp $419

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $908 · $10,896/yr

Listing history 7 events

1. 2026-06-21
   days on market $45,900 Active 9 DOM
2. 2026-06-18
   days on market $45,900 Active 6 DOM
3. 2026-06-17
   days on market $45,900 Active 5 DOM
4. 2026-06-16
   days on market $45,900 Active 4 DOM
5. 2026-06-15
   days on market $45,900 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $45,900 Active 1 DOM

ⓘ 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: $25,338
• − Mortgage interest: −$2,571
• − Property taxes: −$688
• − Insurance: −$230
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − HOA: −$10,896
• − Depreciation: −$1,335
• Taxable income: $5,564
• Est. tax owed @ 24.0%: −$1,335
• After-tax cash flow: $3,980/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 well-maintained 3-bedroom, 2-bath manufactured home in the Westerville area is ready for a new owner. It features updated interiors and a good exterior, with minor maintenance needed.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both update landscaping — improves curb appeal and rental value
• Both install new front door — enhances curb appeal and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both update landscaping — improves curb appeal and rental value ↑
• Both install new front door — enhances curb appeal and resale value ↑

ⓘ 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: Big Walnut Local
• NCES district ID: 3904674
• Math proficiency: 68% ▼ -9.00%
• Reading proficiency: 75% ▼ -6.00%
• Median HH income: $79,890
• Composite: 63.45/100
• National rank: #617
• State rank: #103 of 656 in OH

Livability — Columbus

• Score: 81/100
• State rank: #97
• US rank: #1491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Delaware County · 203,207 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 34,563
• Household income: $147,972
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 520.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 230,854 people
• By 2030: 249,294 · +8.0%
• By 2040: 284,223 · +23.1%
• By 2050: 315,314 · +36.6%
• By 2075: 379,462 · +64.4%
• By 2100: 403,158 · +74.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 5% Black 5% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Delaware

• 2024 margin: Lean R (+6.6) · D 46.2% · R 52.8%
• 2008→2024 swing: +13.0pp toward D · 2008: -19.6pp · 2024: -6.6pp
• All cycles: 2024: R+6.6 2020: R+6.8 2016: R+16.1 2012: R+23.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.55%
• Current HPI: 210.4816
• Rent YoY: ▲ 1.68%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-12 Listed $45,900 CBRMLS
• 2026-06-10 Coming Soon $45,900 CBRMLS