712 N Mt Pleasant Ave · Lancaster, OH 43130

$160,000

2 bd · 1.5 ba · 728 sqft · SingleFamily public records · 74 Days on market

Built 1940 3,484 sqft lot $220/sqft · 14% below area Est $187k · 14% under

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Why this score? — see what drove the C- 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 +14.8/30.0
• ARV discount +14.0/15.0
• DSCR +4.5/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2 bedroom, 1 bath bungalow in Lancaster, Ohio offers timeless character and opportunity. Featuring a classic slate roof and cozy bungalow design, this home is ready for someone to bring their vision and updates to life. Inside, you'll find a functional layout and plenty of potential to restore its original charm. Whether you're an investor, or someone looking for a renovation project, this property offers a great chance to build equity in a desirable location. Make your appt today!

Key facts

• 3,484 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $44 ($532/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (18.6% below list).
• Recommended offer: $130k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $72k; list at $160k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,276 (18.6% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (median comp): $187,038
• List price: $160,000
• Delta: -14.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
728 N Maple St	0.14mi	2/1.0	740 (+2%)	15mo	$185,000	$250	76
811 Medill Ave	0.56mi	2/1.0	780 (+7%)	0mo	$207,000	$265	60
1010 Fay Ave	0.25mi	2/1.0	774 (+6%)	19mo	$195,000	$252	60
643 E Fair Ave	0.16mi	2/1.0	832 (+14%)	14mo	$202,500	$243	56
222 N Maple St	0.45mi	2/1.0	824 (+13%)	8mo	$184,900	$224	48
726 Franklin Ave	0.46mi	2/1.0	817 (+12%)	11mo	$180,000	$220	47
703 Harding Ave	0.50mi	2/1.5	674 (-7%)	21mo	$183,000	$272	47
120 Lake St	0.54mi	3/1.5 (+1)	756 (+4%)	22mo	$146,099	$193	46
1214 E Allen St	0.67mi	1/1.0 (-1)	633 (-13%)	19mo	$132,000	$209	24

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: -12.2%
• Equity multiple: 0.55×
• Total profit: $-20,182
• Equity at exit: $23,857

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,385
• Equity at exit: $13,834

Cash invested: $44,800 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$839
• Tax from tax record: −$79 /mo · $949/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $44

Break-even live

Break-even rent $1,247

Max offer price $160,000

Occupancy floor 92%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 N Broad St Unit B Lancaster, OH	2.0	1.0	700	$1,050	$1.50	44d	1	0.56mi
128 N Broad St Lancaster, OH	1.0	1.0	573	$1,250	$2.18	44d	1	0.76mi
123 N Broad St Unit 201 Lancaster, OH	1.0	1.5	592	$1,350	$2.28	4d	1	0.79mi
1508 Greyfield ST Lancaster, OH	1.0–3.0	1.0–2.0	953	$1,564	$1.64	2d	1	0.81mi
1405 Conquest ST Lancaster, OH	1.0	1.0	681	$1,260	$1.85	2d	1	0.81mi
219 N Columbus St Lancaster, OH	1.0	1.0	686	$1,440	$2.10	44d	1	0.86mi
219 N Columbus St Unit 206 Lancaster, OH	1.0	1.0	559	$1,345	$2.41	44d	1	0.86mi
219 N Columbus St Unit 237 Lancaster, OH	1.0	1.0	564	$1,395	$2.47	44d	1	0.86mi
219 N Columbus St Lancaster, OH	1.0–2.0	1.0–2.0	1184	$1,895	$1.60	2d	31	0.86mi
123 W Walnut St Unit C Lancaster, OH	1.0	1.0	660	$875	$1.33	17d	1	0.96mi
607 Slocum Ave Unit B Lancaster, OH	2.0	1.0	625	$1,050	$1.68	44d	1	1.19mi
1250 Sheridan Dr Lancaster, OH	1.0–3.0	1.0–1.5	959	$1,350	$1.41	2d	5	1.28mi
1733 Bellmeadow Dr Lancaster, OH	1.0–3.0	1.0–2.5	993	$1,607	$1.62	2d	10	1.48mi

Listing history 8 events

1. 2026-06-03
   status $160,000 Pending 74 DOM
2. 2026-06-02
   days on market $160,000 Active 74 DOM
3. 2026-06-01
   days on market $160,000 Active 73 DOM
4. 2026-05-31
   days on market $160,000 Active 72 DOM
5. 2026-04-17
   price $180,000 500-char remark

   Show marketing remark (500 chars)

   This charming 2 bedroom, 1 bath bungalow in Lancaster, Ohio offers timeless character and opportunity. Featuring a classic slate roof and cozy bungalow design, this home is ready for someone to bring their vision and updates to life. Inside, you'll find a functional layout and plenty of potential to restore its original charm. Whether you're an investor, or someone looking for a renovation project, this property offers a great chance to build equity in a desirable location. Make your appt today!

6. 2026-03-20
   listed $185,000 Active 500-char remark

   Show marketing remark (500 chars)

   This charming 2 bedroom, 1 bath bungalow in Lancaster, Ohio offers timeless character and opportunity. Featuring a classic slate roof and cozy bungalow design, this home is ready for someone to bring their vision and updates to life. Inside, you'll find a functional layout and plenty of potential to restore its original charm. Whether you're an investor, or someone looking for a renovation project, this property offers a great chance to build equity in a desirable location. Make your appt today!

7. 1997-05-21
   soldstatus $72,000
8. 1993-01-26
   soldstatus $45,000

ⓘ 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: $949 · $79/mo
• Projected year-2 tax: $1,723 · $144/mo
• Expected delta: +$773/yr (+$64/mo · 81.5%)

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

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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $15,633
• − Mortgage interest: −$8,962
• − Property taxes: −$949
• − Insurance: −$800
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$4,655
• Taxable loss: −$2,234
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $1,069/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

+300.0% since first listed

4 events — show timeline

• 2026-04-17 Price Changed $180,000 CBRMLS
• 2026-03-20 Listed $185,000 CBRMLS
• 1997-05-21 Sold (Public Records) $72,000 Public Records
• 1993-01-26 Sold (Public Records) $45,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $949 · +201.4% YoY. Source: county tax records.