2445 Columbus-lancaster Rd NW Lot 87 · Lancaster, OH 43130

$59,900

2 bd · 1.0 ba · 840 sqft · SingleFamily · 104 Days on market

Built 2022 Good condition $71/sqft · 5% below area Est $63k · 5% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.9/15.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Colonial Estates, a mobile home community conveniently located in Lancaster, Ohio. Just minutes from US-33 and all the shopping, dining, and amenities along Memorial Drive, this 2022 Adventure single-wide home offers comfortable and modern living with 2 bedrooms and 1 bathrooms. Residents of Colonial Estates enjoy great community features including a playground, swimming pool, basketball court, clubhouse, and more.

Key facts

• Clubhouse
• Swimming pool
• Basketball court

Tags

• MOBILE HOME COMMUNITY
• PLAYGROUND
• SWIMMING POOL
• BASKETBALL COURT
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 4.2% 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); 202 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.06% ✓
• Cap rate: 17.54%
• Cash-on-cash: 40.18%
• DSCR: 2.79
• GRM: 4.0

CMA / ARV

• ARV (median comp): $63,282
• List price: $59,900
• Delta: -5.34%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2445 Columbus Lancaster Rd NW Unit 383 Hemlock	0.15mi	2/1.0	924 (+10%)	3mo	$30,000	$32	74
2445 Columbus Lancaster Rd NW #126	0.03mi	2/1.5	952 (+13%)	23mo	$16,000	$17	55
2445 Columbus Lancaster Rd NW Lot 7	0.03mi	3/2.0 (+1)	960 (+14%)	22mo	$65,600	$68	48

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: 39.1%
• Equity multiple: 2.72×
• Total profit: $28,902
• Equity at exit: $8,931

10-year hold

• IRR: 46.6%
• Equity multiple: 5.97×
• Total profit: $83,410
• Equity at exit: $5,179

Cash invested: $16,772 (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: 202
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,235 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $562

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 50%

Sensitivity live

Price	-10% $603	-5% $582	+0% $562	+5% $541	+10% $520
Rent	-10% $464	-5% $513	+0% $562	+5% $610	+10% $659
Rate	-1.0pp $592	-0.5pp $577	base $562	+0.5pp $546	+1.0pp $530

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $59,900 Active 104 DOM
2. 2026-06-18
   days on market $59,900 Active 101 DOM
3. 2026-06-17
   days on market $59,900 Active 100 DOM
4. 2026-06-16
   days on market $59,900 Active 99 DOM
5. 2026-06-15
   days on market $59,900 Active 98 DOM
6. 2026-06-13
   days on market $59,900 Active 96 DOM
7. 2026-06-03
   days on market $59,900 Active 90 DOM
8. 2026-06-02
   days on market $59,900 Active 89 DOM
9. 2026-06-01
   days on market $59,900 Active 88 DOM
10. 2026-05-31
    days on market $59,900 Active 87 DOM
11. 2026-03-05
    listed $59,900 Active 429-char remark

    Show marketing remark (429 chars)

    Welcome to Colonial Estates, a mobile home community conveniently located in Lancaster, Ohio. Just minutes from US-33 and all the shopping, dining, and amenities along Memorial Drive, this 2022 Adventure single-wide home offers comfortable and modern living with 2 bedrooms and 1 bathrooms. Residents of Colonial Estates enjoy great community features including a playground, swimming pool, basketball court, clubhouse, and more.

ⓘ 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: $14,819
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$1,743
• Taxable income: $6,152
• Est. tax owed @ 24.0%: −$1,476
• After-tax cash flow: $5,263/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 · 11 photos

Good 80/100 Cosmetic rehab

This mobile home is in good condition with minimal repairs needed. It offers a good balance of curb appeal and interior functionality, making it a solid investment.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Reorganizing kitchen cabinets for better functionality — Improves storage and makes the space more efficient
• Both Upgrading light fixtures for better energy efficiency and ambiance — Saves on energy costs and enhances the home's appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Reorganizing kitchen cabinets for better functionality — Improves storage and makes the space more efficient ↑
• Both Upgrading light fixtures for better energy efficiency and ambiance — Saves on energy costs and enhances the home's appeal ↑

ⓘ 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: 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

• 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

1 event — show timeline

• 2026-03-05 Listed $59,900 CBRMLS