1330 Hanover Rd #134 · Delaware, OH 43015

$44,900

3 bd · 2.0 ba · 996 sqft · SingleFamily · 56 Days on market

Built 1994 Good condition $45/sqft · 26% below area Est $61k · 26% under $895/mo HOA · 51% of rent ↓ 18% since listing

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Why this score? — see what drove the A- 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully renovated 3 bed 2 bath home in the Crystal Lake community! Light and bright with modern updates throughout. You will love the open concept kitchen and living area. Large owner's suite boasts walk-in closet and adjoining spacious bathroom with skylight. Concrete patio is great for entertaining, and plenty of storage in shed. Lot rent also includes access to all of the amenities of Crystal Lake, including playground, fishing pond, basketball court. Delaware City Schools. Lot rent is $895/month. Don't miss this opportunity-- schedule a showing today!

Key facts

• Renovated
• Open concept kitchen
• Access to amenities

Tags

• RENOVATED
• OPEN CONCEPT KITCHEN
• WALK-IN CLOSET
• CONCRETE PATIO
• ACCESS TO AMENITIES
• PLAYGROUND

Property features AI

Finance

• HOA & community: Homeowners association with amenities including basketball court, bike/walk path, clubhouse, outdoor sports area, and park; Association fee $895 monthly (includes snow removal)

Exterior

• Parking: 1 carport space
• Utilities: Private water; Private sewer
• Home design: Other residential without deeded land; Single-story; Built in 1994; No common walls
• Construction: Slab foundation
• Exterior features: Patio; Shed(s); Mobile home dimensions approximately 76' x 16'

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Garden/soak tub; Living area 996

🏷️ Possibly a rental listed for sale. The $44,900 price doesn't fit this home's estimated sale value (~$61,017) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 2.5% in Delaware — 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 80/100 on livability (#116 in OH, #1,717 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, schools A; Watch: amenities C-, commute F.
• Delaware City (suburban): math 47% / reading 63% proficiency, ranked #355 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 499 active listings in the ZIP; solid renter incomes; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $13k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.

Recommended offer $43,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 3.94% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.45%
• DSCR: 1.82
• GRM: 2.1

CMA / ARV

• ARV (median comp): $61,017
• List price: $44,900
• Delta: -26.41%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1330 Hanover Rd #33	0.20mi	3/1.0	877 (-12%)	2mo	$26,000	$30	66
1330 Hanover - Lot 115	0.04mi	2/2.0 (-1)	1,100 (+10%)	20mo	$25,000	$23	59

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 · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.23×
• Total profit: $2,841
• Equity at exit: $6,695

10-year hold

• IRR: 11.8%
• Equity multiple: 1.77×
• Total profit: $9,655
• Equity at exit: $3,882

Cash invested: $12,572 (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 43015

• Rents YoY: 1.4%
• Active inventory: 499
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,770 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$895
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $193

Break-even live

Break-even rent $1,526

Max offer price $44,900

Occupancy floor 84%

Sensitivity live

Price	-10% $224	-5% $209	+0% $193	+5% $178	+10% $162
Rent	-10% $53	-5% $123	+0% $193	+5% $263	+10% $333
Rate	-1.0pp $216	-0.5pp $205	base $193	+0.5pp $182	+1.0pp $170

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $895 · $10,740/yr

Listing history 14 events

1. 2026-06-18
   days on market $44,900 Active 56 DOM
2. 2026-06-17
   days on market $44,900 Active 55 DOM
3. 2026-06-16
   days on market $44,900 Active 54 DOM
4. 2026-06-15
   days on market $44,900 Active 53 DOM
5. 2026-06-13
   pricedays on market $44,900 Active 51 DOM
6. 2026-06-09
   days on market $49,499 Active 47 DOM
7. 2026-06-08
   days on market $49,499 Active 46 DOM
8. 2026-06-07
   days on market $49,499 Active 45 DOM
9. 2026-06-03
   days on market $49,499 Active 41 DOM
10. 2026-06-02
    days on market $49,499 Active 40 DOM
11. 2026-06-01
    days on market $49,499 Active 39 DOM
12. 2026-05-31
    days on market $49,499 Active 38 DOM
13. 2026-05-15
    price $49,499 565-char remark
14. 2026-04-23
    listed $54,900 Active 565-char remark

ⓘ 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 3/10 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: $21,244
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − HOA: −$10,740
• − Depreciation: −$1,306
• Taxable income: $2,386
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $1,747/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

Good 75/100 Cosmetic rehab

This home is in good condition with cosmetic updates needed. Painting the exterior siding and maintaining gutters can significantly increase its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Clean and maintain gutters — Keeps the home looking well-maintained and can prevent water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean and maintain gutters — Keeps the home looking well-maintained and can prevent water damage ↑

ⓘ 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: Delaware City
• NCES district ID: 3904387
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 63% ▼ -7.00%
• Median HH income: $55,434
• Composite: 47.39/100
• National rank: #2288
• State rank: #355 of 656 in OH

Livability — Delaware

• Score: 80/100
• State rank: #116
• US rank: #1717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Delaware County · 203,207 people
• City population: 61,401
• Metro: Columbus, OH
• Population (ZIP): 61,401
• Household income: $105,322
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 965.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 230,854 people
• By 2030: 249,294 · +8.0%
• By 2040: 284,223 · +23.1%
• By 2050: 315,314 · +36.6%
• By 2075: 379,462 · +64.4%
• By 2100: 403,158 · +74.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 5% Black 4%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Delaware

• 2024 margin: Lean R (+6.6) · D 46.2% · R 52.8%
• 2008→2024 swing: +13.0pp toward D · 2008: -19.6pp · 2024: -6.6pp
• All cycles: 2024: R+6.6 2020: R+6.8 2016: R+16.1 2012: R+23.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -398.47%
• Current HPI: 233.0634
• Rent YoY: ▲ 1.42%
• 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

-18.2% since first listed

3 events — show timeline

• 2026-06-11 Price Changed $44,900 CBRMLS
• 2026-05-15 Price Changed $49,499 CBRMLS
• 2026-04-23 Listed $54,900 CBRMLS