1100 Thornwood Dr SW Lot 36 · Heath, OH 43056

$40,000

2 bd · 2.0 ba · 952 sqft · SingleFamily · 78 Days on market

Built 1998 Good condition $42/sqft · 36% below area Est $62k · 36% under $649/mo HOA · 36% of rent ↓ 16% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 2-bedroom, 2 full bath home located in the highly sought-after Ramp Creek community! Featuring a newer metal roof and an open concept layout, this home offers both comfort and functionality. The spacious kitchen flows seamlessly into the living area, creating the perfect space for entertaining, while large windows provide tons of natural light throughout. The primary suite is generously sized and features a relaxing soaking tub--your own private retreat! Bedrooms are positioned on opposite sides of the home, offering added privacy--ideal for a roommate setup or guests. All kitchen appliances convey, making this home truly move-in ready. Buyers must be park approved by the community. Don't miss your chance to own this affordable and inviting home in Ramp Creek--schedule your showing today!

Key facts

• Large windows
• Soaking tub
• Spacious kitchen

Tags

• NEWER METAL ROOF
• OPEN CONCEPT LAYOUT
• SPACIOUS KITCHEN
• LARGE WINDOWS
• SOAKING TUB
• KITCHEN APPLIANCES CONVEY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 2.8% in Heath — 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 72/100 on livability (#353 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: crime D+, amenities F, commute F.
• Heath City (suburban): math 62% / reading 67% proficiency, ranked #226 of 656 in OH (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 159 units permitted in Licking County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 4.45% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.60%
• DSCR: 3.30
• GRM: 1.9

CMA / ARV

• ARV (median comp): $62,231
• List price: $40,000
• Delta: -35.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1100 Thornwood Dr SW #1018	0.00mi	2/2.0	980 (+3%)	2mo	$35,000	$36	94
1100 Thornwood Dr SW #19	0.07mi	3/2.0 (+1)	980 (+3%)	8mo	$40,000	$41	80
1100 Thornwood Dr SW #918	0.17mi	3/1.0 (+1)	924 (-3%)	2mo	$35,000	$38	77
1100 Thornwood Dr SW Lot 718	0.05mi	2/1.0	952 (0%)	22mo	$52,500	$55	75
1100 Thornwood Dr SW #1008	0.05mi	3/2.0 (+1)	1,080 (+13%)	2mo	$76,000	$70	68

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 3.20×
• Total profit: $24,615
• Equity at exit: $5,964

10-year hold

• IRR: 55.6%
• Equity multiple: 6.59×
• Total profit: $62,657
• Equity at exit: $3,458

Cash invested: $11,200 (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 43056

• Active inventory: 59
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,781 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$649
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $482

Break-even live

Break-even rent $1,171

Max offer price $40,000

Occupancy floor 68%

Sensitivity live

Price	-10% $509	-5% $495	+0% $482	+5% $468	+10% $454
Rent	-10% $341	-5% $411	+0% $482	+5% $552	+10% $622
Rate	-1.0pp $502	-0.5pp $492	base $482	+0.5pp $471	+1.0pp $461

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2010 W Main St Newark, OH	1.0–2.0	1.0–2.0	852	$1,781	$2.09	3d	106	1.35mi

HOA detail

• Monthly dues: $649 · $7,788/yr

Listing history 17 events

1. 2026-06-17
   status $40,000 Pending 78 DOM
2. 2026-06-16
   days on market $40,000 Active 78 DOM
3. 2026-06-15
   days on market $40,000 Active 77 DOM
4. 2026-06-13
   days on market $40,000 Active 75 DOM
5. 2026-06-13
   days on market $40,000 Active 74 DOM
6. 2026-06-09
   days on market $40,000 Active 71 DOM
7. 2026-06-08
   days on market $40,000 Active 70 DOM
8. 2026-06-07
   days on market $40,000 Active 69 DOM
9. 2026-06-05
   days on market $40,000 Active 66 DOM
10. 2026-06-03
    days on market $40,000 Active 65 DOM
11. 2026-06-02
    days on market $40,000 Active 64 DOM
12. 2026-06-01
    days on market $40,000 Active 63 DOM
13. 2026-05-31
    days on market $40,000 Active 62 DOM
14. 2026-05-19
    price $40,000 831-char remark

    Show marketing remark (831 chars)

    Welcome to this well-maintained 2-bedroom, 2 full bath home located in the highly sought-after Ramp Creek community! Featuring a newer metal roof and an open concept layout, this home offers both comfort and functionality. The spacious kitchen flows seamlessly into the living area, creating the perfect space for entertaining, while large windows provide tons of natural light throughout. The primary suite is generously sized and features a relaxing soaking tub--your own private retreat! Bedrooms are positioned on opposite sides of the home, offering added privacy--ideal for a roommate setup or guests. All kitchen appliances convey, making this home truly move-in ready. Buyers must be park approved by the community. Don't miss your chance to own this affordable and inviting home in Ramp Creek--schedule your showing today!

15. 2026-05-05
    price $42,500 831-char remark

    Show marketing remark (831 chars)

    Welcome to this well-maintained 2-bedroom, 2 full bath home located in the highly sought-after Ramp Creek community! Featuring a newer metal roof and an open concept layout, this home offers both comfort and functionality. The spacious kitchen flows seamlessly into the living area, creating the perfect space for entertaining, while large windows provide tons of natural light throughout. The primary suite is generously sized and features a relaxing soaking tub--your own private retreat! Bedrooms are positioned on opposite sides of the home, offering added privacy--ideal for a roommate setup or guests. All kitchen appliances convey, making this home truly move-in ready. Buyers must be park approved by the community. Don't miss your chance to own this affordable and inviting home in Ramp Creek--schedule your showing today!

16. 2026-04-17
    price $45,000 831-char remark

    Show marketing remark (831 chars)

    Welcome to this well-maintained 2-bedroom, 2 full bath home located in the highly sought-after Ramp Creek community! Featuring a newer metal roof and an open concept layout, this home offers both comfort and functionality. The spacious kitchen flows seamlessly into the living area, creating the perfect space for entertaining, while large windows provide tons of natural light throughout. The primary suite is generously sized and features a relaxing soaking tub--your own private retreat! Bedrooms are positioned on opposite sides of the home, offering added privacy--ideal for a roommate setup or guests. All kitchen appliances convey, making this home truly move-in ready. Buyers must be park approved by the community. Don't miss your chance to own this affordable and inviting home in Ramp Creek--schedule your showing today!

17. 2026-03-30
    listed $47,500 Active 831-char remark

    Show marketing remark (831 chars)

    Welcome to this well-maintained 2-bedroom, 2 full bath home located in the highly sought-after Ramp Creek community! Featuring a newer metal roof and an open concept layout, this home offers both comfort and functionality. The spacious kitchen flows seamlessly into the living area, creating the perfect space for entertaining, while large windows provide tons of natural light throughout. The primary suite is generously sized and features a relaxing soaking tub--your own private retreat! Bedrooms are positioned on opposite sides of the home, offering added privacy--ideal for a roommate setup or guests. All kitchen appliances convey, making this home truly move-in ready. Buyers must be park approved by the community. Don't miss your chance to own this affordable and inviting home in Ramp Creek--schedule your showing today!

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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: $21,372
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − HOA: −$7,788
• − Depreciation: −$1,164
• Taxable income: $5,960
• Est. tax owed @ 24.0%: −$1,430
• After-tax cash flow: $4,348/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

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom home in Ramp Creek community is move-in ready with good curb appeal and interior condition. Minor updates to the kitchen and flooring can significantly increase its value.

Repairs flagged

• Moderate Kitchen cabinets — Appears dated and could benefit from updating.
• Moderate Bathtub — Looks dated and could benefit from updating.
• Minor Countertops — Could be updated for a fresh look.

Value-add opportunities

• Both Painting (interior) — Fresh paint can improve curb appeal and interior aesthetics.
• Both Flooring (carpet) — New flooring can improve the home's appearance and value.
• Both Kitchen cabinets and countertops — Updating these can significantly enhance the home's value and appeal to potential buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Appears dated and could benefit from updating.	Moderate	$3,000–15,000
Bathtub · Looks dated and could benefit from updating.	Moderate	$3,000–15,000
Countertops · Could be updated for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both Painting (interior) — Fresh paint can improve curb appeal and interior aesthetics. ↑
• Both Flooring (carpet) — New flooring can improve the home's appearance and value. ↑
• Both Kitchen cabinets and countertops — Updating these can significantly enhance the home's value and appeal to potential buyers/renters. ↑

ⓘ 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: Heath City
• NCES district ID: 3904411
• Math proficiency: 62% ▼ -8.00%
• Reading proficiency: 67% ▼ -2.00%
• Median HH income: $47,796
• Composite: 54.58/100
• National rank: #1340
• State rank: #226 of 656 in OH

Livability — Heath

• Score: 72/100
• State rank: #353
• US rank: #5705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Heath, OH
• County: Licking · 160,960 people
• Metro: Columbus, OH
• Population (ZIP): 17,485
• Household income: $76,833
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 5.6

Population outlook (Licking County) Hauer SSP2

• Today (2025): 178,210 people
• By 2030: 180,917 · +1.5%
• By 2040: 183,885 · +3.2%
• By 2050: 182,985 · +2.7%
• By 2075: 178,377 · +0.1%
• By 2100: 161,075 · -9.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: Iranian 2% Serbian 2% Slovak 2%
• Foreign-born: 2% · Canada, India
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Licking

• 2024 margin: Solid R (+30.0) · D 34.5% · R 64.6%
• 2008→2024 swing: -14.2pp toward R · 2008: -15.8pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+28.9 2012: R+14.7 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.75%
• Current HPI: 229.4048
• Rent YoY: —
• Metro: —
• 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

-15.8% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $40,000 CBRMLS
• 2026-05-05 Price Changed $42,500 CBRMLS
• 2026-04-17 Price Changed $45,000 CBRMLS
• 2026-03-30 Listed $47,500 CBRMLS