2445 Columbus-lancaster Rd NW #274 · Lancaster, OH 43130

$29,900

3 bd · 1.5 ba · 1,120 sqft · SingleFamily · 10 Days on market

Built 1985 Fair condition $27/sqft · 55% below area $780/mo HOA · 49% of rent ↓ 20% since listing

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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
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 3-bedroom, 1.5-bath residence in Colonial Estates. Recent updates include remodeled flooring throughout, added drywall finishes, and an upgraded full bath featuring a ceramic tile shower. Enjoy year-round comfort with a newer mini-split heating and cooling system, complemented by the existing furnace. Outdoor living is easy with both a covered front porch and rear deck, perfect for relaxing or entertaining. Additional features include a carport, off-street parking, and a storage shed for extra space. Residents enjoy access to community amenities including a clubhouse, swimming pool, playgrounds, tennis courts, and a dog park. Conveniently located near th

Key facts

• Covered front porch
• Remodeled flooring
• Carport

Tags

• REMODELED FLOORING
• UPGRADED FULL BATH
• CERAMIC TILE SHOWER
• COVERED FRONT PORCH
• REAR DECK
• CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $30k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Cap rate 16.8% 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; 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 $207 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $29,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 5.29% ✓
• Cap rate: 16.82%
• Cash-on-cash: 37.61%
• DSCR: 2.67
• GRM: 1.6

CMA / ARV

• ARV (median comp): $66,513
• List price: $29,900
• Delta: -39.86%
• 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
2445 Columbus Lancaster Rd NW Lot 463	0.12mi	3/2.0	1,120 (0%)	7mo	$30,000	$27	86
2445 Columbus Lancaster Rd NW Lot 375	0.12mi	3/2.0	1,116 (-0%)	9mo	$68,450	$61	85
2445 Columbus Lancaster Rd NW #147	0.14mi	2/2.0 (-1)	1,120 (0%)	10mo	$49,900	$45	78
2445 Columbus Lancaster Rd NW Lot 408 Walnut St	0.12mi	2/1.0 (-1)	980 (-12%)	5mo	$5,000	$5	63
2445 Columbus Lancaster Rd Rd NW Lot 138	0.14mi	2/2.0 (-1)	1,067 (-5%)	21mo	$89,000	$83	61
2445 NW Columbus Lancaster Rd NW Lot 367	0.14mi	3/2.0	1,280 (+14%)	15mo	$49,999	$39	55
2445 Columbus Lancaster Rd NW Lot 32	0.14mi	3/2.0	980 (-12%)	19mo	$66,500	$68	54
2445 Columbus Lancaster Rd Lot 446 NW	0.14mi	3/2.0	1,280 (+14%)	16mo	$64,750	$51	54
2445 Columbus-lancaster Rd NW Lot 340	0.14mi	2/1.0 (-1)	980 (-12%)	18mo	$38,250	$39	50
1422 Autumn Dr	0.53mi	3/1.5	1,242 (+11%)	10mo	$300,000	$242	49
1533 Scenic Valley Pl	0.56mi	3/2.5	1,260 (+12%)	6mo	$280,000	$222	44
1449 Autumn Dr	0.59mi	3/2.0	1,250 (+12%)	21mo	$296,000	$237	34

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: 40.8%
• Equity multiple: 2.91×
• Total profit: $15,978
• Equity at exit: $4,458

10-year hold

• IRR: 49.8%
• Equity multiple: 7.33×
• Total profit: $52,977
• Equity at exit: $2,585

Cash invested: $8,372 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,581 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$780
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $262

Break-even live

Break-even rent $1,249

Max offer price $29,900

Occupancy floor 78%

Sensitivity live

Price	-10% $283	-5% $273	+0% $262	+5% $252	+10% $242
Rent	-10% $137	-5% $200	+0% $262	+5% $325	+10% $387
Rate	-1.0pp $277	-0.5pp $270	base $262	+0.5pp $255	+1.0pp $247

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $780 · $9,360/yr
• Likely covers: landscapingpool

Listing history 11 events

1. 2026-06-18
   days on market $29,900 Active 10 DOM
2. 2026-06-17
   days on market $29,900 Active 9 DOM
3. 2026-06-16
   days on market $29,900 Active 8 DOM
4. 2026-06-15
   days on market $29,900 Active 7 DOM
5. 2026-06-13
   days on market $29,900 Active 5 DOM
6. 2026-06-09
   remarks 699-char remark
7. 2026-06-09
   pricestatusdays on marketlisting id $29,900 Active 1 DOM
8. 2026-05-07
   historical
9. 2026-02-19
   price $40,000
10. 2026-01-17
    price $42,000
11. 2025-12-07
    listed $50,000 Active

ⓘ 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: $18,972
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − HOA: −$9,360
• − Depreciation: −$870
• Taxable income: $3,434
• Est. tax owed @ 24.0%: −$824
• After-tax cash flow: $2,324/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

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance, including a paint job and roof repair, to improve its condition and value.

Repairs flagged

• Major paint — extensive peeling
• Moderate roof — visible wear

Value-add opportunities

• Both paint job — enhances curb appeal and interior
• Both roof repair — improves structural integrity and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · extensive peeling	Major	$15,000–50,000
roof · visible wear	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Both paint job — enhances curb appeal and interior ↑
• Both roof repair — improves structural integrity and appearance ↑

ⓘ 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

-20.0% since first listed

4 events — show timeline

• 2026-05-07 Listing Removed — CBRMLS
• 2026-02-19 Price Changed $40,000 CBRMLS
• 2026-01-17 Price Changed $42,000 CBRMLS
• 2025-12-07 Listed $50,000 CBRMLS