2445 Columbus-lancaster Rd NW #315 · Lancaster, OH 43130

$61,900

3 bd · 2.0 ba · 980 sqft · SingleFamily · 65 Days on market

Built 2000 Fair condition $63/sqft · 9% below area Est $68k · 9% 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
• ARV discount +11.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Welcome home to this beautifully updated 3 bedroom, 2 bath mobile home located in Colonial Estates Park, just minutes from US 33 and all shopping, dining, and everyday conveniences in Lancaster. Step inside and fall in love with the fresh new flooring throughout new kitchen cabinets and, newer appliances. This home is move in ready and waiting for a new owner. Washer, Dryer, Shed, lawn mower and weed eater also stay.

Key facts

• New kitchen cabinets
• New appliances
• Move in ready

Tags

• NEW KITCHEN CABINETS
• NEW APPLIANCES
• FRESH NEW FLOORING
• FRESHLY PAINTED WALLS
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $62k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $58k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.3% 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 $428 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 65 days — a 6% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $15k; list at $62k implies a 313% gain — meaningful room to come down on a strong offer.

Recommended offer $58,186 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 2.46% ✓
• Cap rate: 21.29%
• Cash-on-cash: 53.57%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

• ARV (median comp): $68,279
• List price: $61,900
• Delta: -9.34%
• Verdict: FAIR
• 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 32	0.00mi	3/2.0	980 (0%)	19mo	$66,500	$68	84
2445 Columbus Lancaster Rd NW Lot 408 Walnut St	0.08mi	2/1.0 (-1)	980 (0%)	5mo	$5,000	$5	83
2445 Columbus Lancaster Rd NW Lot 210	0.00mi	3/2.0	980 (0%)	21mo	$60,000	$61	82
2445 Columbus Lancaster Rd NW Lot 27	0.00mi	3/2.0	980 (0%)	22mo	$60,000	$61	82
2445 Columbus Lancaster Rd NW Lot 163	0.00mi	3/2.0	980 (0%)	23mo	$69,900	$71	81
2445 Columbus Lancaster Rd NW Lot 7	0.00mi	3/2.0	960 (-2%)	22mo	$65,600	$68	79
2445 Columbus-lancaster Rd NW Lot 340	0.00mi	2/1.0 (-1)	980 (0%)	18mo	$38,250	$39	76
2445 Columbus Lancaster Rd NW Unit 383 Hemlock	0.14mi	2/1.0 (-1)	924 (-6%)	3mo	$30,000	$32	72
2445 Columbus Lancaster Rd NW Lot 463	0.08mi	3/2.0	1,120 (+14%)	7mo	$30,000	$27	66
2445 Columbus Lancaster Rd NW Lot 375	0.08mi	3/2.0	1,116 (+14%)	9mo	$68,450	$61	66
2445 Columbus Lancaster Rd NW #147	0.00mi	2/2.0 (-1)	1,120 (+14%)	10mo	$49,900	$45	63
2445 Columbus Lancaster Rd Rd NW Lot 138	0.00mi	2/2.0 (-1)	1,067 (+9%)	21mo	$89,000	$83	63

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: 54.2%
• Equity multiple: 3.47×
• Total profit: $42,742
• Equity at exit: $9,229

10-year hold

• IRR: 60.2%
• Equity multiple: 7.67×
• Total profit: $115,676
• Equity at exit: $5,352

Cash invested: $17,332 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,521 medium
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$77 /mo · $928/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $774

Break-even live

Break-even rent $541

Max offer price $61,900

Occupancy floor 44%

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: $15,475
• Closing costs: $1,857
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $61,900 Active 65 DOM
2. 2026-06-17
   price $61,900 Active 64 DOM
3. 2026-06-17
   days on market $64,900 Active 64 DOM
4. 2026-06-16
   days on market $64,900 Active 63 DOM
5. 2026-06-15
   days on market $64,900 Active 62 DOM
6. 2026-06-13
   days on market $64,900 Active 60 DOM
7. 2026-06-09
   days on market $64,900 Active 56 DOM
8. 2026-06-08
   days on market $64,900 Active 55 DOM
9. 2026-06-07
   days on market $64,900 Active 54 DOM
10. 2026-06-03
    days on market $64,900 Active 50 DOM
11. 2026-06-02
    days on market $64,900 Active 49 DOM
12. 2026-06-01
    days on market $64,900 Active 48 DOM
13. 2026-05-31
    days on market $64,900 Active 47 DOM
14. 2026-04-14
    listed $64,900 Active 420-char remark

    Show marketing remark (420 chars)

    Welcome home to this beautifully updated 3 bedroom, 2 bath mobile home located in Colonial Estates Park, just minutes from US 33 and all shopping, dining, and everyday conveniences in Lancaster. Step inside and fall in love with the fresh new flooring throughout new kitchen cabinets and, newer appliances. This home is move in ready and waiting for a new owner. Washer, Dryer, Shed, lawn mower and weed eater also stay.

15. 2024-10-01
    soldstatus $15,000 Closed 212-char remark

    Show marketing remark (212 chars)

    3BD/2BA mobile home in Colonial Estates. Convenient to 33 and stores/restaurants. Actual square footage is 980. Buyer must be approved by Colonial Estates 740-654-2500. Lot rent is $609/mo. , water is $128/mo.

16. 2024-08-07
    historical Contingent Escape 212-char remark

    Show marketing remark (212 chars)

    3BD/2BA mobile home in Colonial Estates. Convenient to 33 and stores/restaurants. Actual square footage is 980. Buyer must be approved by Colonial Estates 740-654-2500. Lot rent is $609/mo. , water is $128/mo.

17. 2024-05-24
    listed $29,900 Active 212-char remark

    Show marketing remark (212 chars)

    3BD/2BA mobile home in Colonial Estates. Convenient to 33 and stores/restaurants. Actual square footage is 980. Buyer must be approved by Colonial Estates 740-654-2500. Lot rent is $609/mo. , water is $128/mo.

ⓘ 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: $18,250
• − Mortgage interest: −$3,467
• − Property taxes: −$928
• − Insurance: −$310
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$1,801
• Taxable income: $8,824
• Est. tax owed @ 24.0%: −$2,118
• After-tax cash flow: $7,167/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 · 1 photo

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major kitchen cabinets — Older cabinets need replacement
• Major appliances — Older appliances need replacement
• Major flooring — Worn-out carpet needs replacement
• Major interior walls — Painted walls need repainting
• Major exterior siding — Weathered siding needs repainting or replacement
• Major landscaping — Needs landscaping and curb appeal improvements

Value-add opportunities

• Both New kitchen cabinets and appliances — Freshens up the interior and makes the home more appealing
• Both New flooring — Improves the living experience and adds value
• Both Painting interior and exterior — Enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Older cabinets need replacement	Major	$15,000–50,000
appliances · Older appliances need replacement	Major	$15,000–50,000
flooring · Worn-out carpet needs replacement	Major	$15,000–50,000
interior walls · Painted walls need repainting	Major	$15,000–50,000
exterior siding · Weathered siding needs repainting or replacement	Major	$15,000–50,000
landscaping · Needs landscaping and curb appeal improvements	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both New kitchen cabinets and appliances — Freshens up the interior and makes the home more appealing ↑
• Both New flooring — Improves the living experience and adds value ↑
• Both Painting interior and exterior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and adds 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: 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

+117.1% since first listed

4 events — show timeline

• 2026-04-14 Listed $64,900 CBRMLS
• 2024-10-01 Sold (MLS) $15,000 CBRMLS
• 2024-08-07 Contingent — CBRMLS
• 2024-05-24 Listed $29,900 CBRMLS