4803 Prince Charles Way Unit 42B · Hilliard, OH 43026

$190,000

3 bd · 2.5 ba · 1,344 sqft · Condo public records · 45 Days on market

Built 1989 $141/sqft · 14% below area Est $220k · 14% under $220/mo HOA · 11% of rent

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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).

• ARV discount +13.7/15.0
• Cash flow +13.2/30.0
• 1% rule +5.9/10.0
• Schools +5.3/10.0
• Livability +4.4/5.0
• DSCR +4.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Desirable Area Near Shopping, Restaurants, and Major commuter routes- 3 bedroom 2 full 1 half bath 1344 sg ft and a basement -Hilliard Schools Nearby

Key facts

• Near shopping
• Restaurants
• $220 HOA

Tags

• NEAR SHOPPING
• RESTAURANTS
• MAJOR COMMUTER ROUTES
• HILLIARD SCHOOLS NEARBY

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $220; HOA covers lawn care, insurance, and snow removal

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Condominium; Two levels; Built in 1989; One common wall
• Construction: Block foundation; Built in 1989
• Exterior features: Block foundation

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Insulated windows throughout; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-4 ($-47/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (0.4% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 1.8% in Hilliard — 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 87/100 on livability (#34 in OH, #331 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Hilliard City (suburban): math 57% / reading 62% proficiency, ranked #246 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.2%/yr); 253 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 8,139 units permitted in Franklin County in 2024 (5,940 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 $6k of value loss. Plan a longer hold.
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $190k implies a 153% gain — meaningful room to come down on a strong offer.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 7.7

CMA / ARV

• ARV (median comp): $220,087
• List price: $190,000
• Delta: -13.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.25% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.35×
• Total profit: $-34,381
• Equity at exit: $28,330

10-year hold

• IRR: -16.1%
• Equity multiple: 0.18×
• Total profit: $-43,477
• Equity at exit: $16,428

Cash invested: $53,200 (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 43026

• Rents YoY: 1.2%
• Active inventory: 253
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$996
• Tax from tax record: −$338 /mo · $4,056/yr
• Insurance: −$79
• HOA: −$220
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-4

Break-even live

Break-even rent $2,068

Max offer price $189,305

Occupancy floor 95%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4884 Leybourne Dr Hilliard, OH	3.0	1.5	1685	$2,414	$1.43	44d	1	0.25mi
4964 Abberton Ct Hilliard, OH	3.0	2.0	1172	$2,350	$2.01	44d	1	0.27mi
4663 Crystal Ball Dr Hilliard, OH	1.0–2.0	1.0–2.5	1180	$1,889	$1.60	4d	9	0.48mi
5220 Riggins Run Rd Dublin, OH	1.0–2.0	1.0–2.0	962	$2,003	$2.08	2d	25	0.70mi
5252 Riggins Run Dublin, OH	1.0–2.0	1.0–2.0	970	$1,838	$1.89	2d	12	0.75mi
5288 Royal Arch Cascade Dr Dublin, OH	2.0	2.5	1224	$1,850	$1.51	3d	1	0.80mi
5261 Berthold Pass Dr Columbus, OH	2.0	2.5	1248	$1,900	$1.52	3d	1	0.91mi
5464 Eagle River Dr Dublin, OH	2.0	2.0	1313	$2,442	$1.86	2d	7	1.09mi
5787 Passage Creek Dr Dublin, OH	2.0	2.5	1456	$2,200	$1.51	17d	1	1.13mi
5787 Passage Creek Dr Unit 1 Dublin, OH	2.0	3.0	1456	$2,200	$1.51	17d	1	1.13mi
5399 Grand Dr Dublin, OH	1.0–3.0	1.0–2.5	1145	$2,890	$2.52	2d	26	1.18mi
5845 Marble Creek St Dublin, OH	3.0	1.5	1244	$2,049	$1.65	3d	1	1.25mi
4761 Riggins Rd Dublin, OH	1.0–2.0	1.0–2.5	1221	$2,573	$2.11	2d	13	1.32mi
5260 Franklin St Hilliard, OH	1.0–2.0	1.0–2.0	792	$1,735	$2.19	2d	11	1.33mi
4460 Mountain Laurel Rd Hilliard, OH	1.0–3.0	1.0–2.0	921	$2,034	$2.21	2d	30	1.34mi
5037 Vail Pine Pl Dublin, OH	2.0	2.0	1343	$1,840	$1.37	44d	1	1.36mi
5677 Laurel Pine Ln Dublin, OH	2.0	2.0	1165	$1,640	$1.41	24d	1	1.37mi
6007 Haydens Crossing Blvd Dublin, OH	2.0	2.5	1335	$2,500	$1.87	7d	1	1.39mi
4003 Darby Park Rd Hilliard, OH	3.0	3.0	1574	$2,373	$1.51	44d	1	1.40mi
5027 Stratford Pine Ln Dublin, OH	2.0	2.0	1284	$1,795	$1.40	44d	1	1.41mi
5755 Laurel Pine Ln Dublin, OH	2.0	2.0	1180	$1,595	$1.35	44d	1	1.43mi
5002 Stratford Pine Ln Dublin, OH	2.0	2.5	1347	$2,015	$1.50	44d	1	1.44mi
1745 Sledge Dr Hilliard, OH	1.0–2.0	1.0–2.5	983	$2,052	$2.09	2d	12	1.47mi
5080 Aspen Pine Blvd Dublin, OH	2.0	2.0	1165	$1,595	$1.37	44d	1	1.48mi
4978 Aspen Pine Blvd Dublin, OH	2.0	2.0	1180	$1,640	$1.39	7d	1	1.48mi
5137 Foxtail Pine St Dublin, OH	2.0	2.0	1319	$1,850	$1.40	44d	1	1.48mi
4918 Stratford Pine Ln Dublin, OH	2.0	1.0	950	$1,440	$1.52	7d	1	1.49mi
5168 Foxtail Pine St Dublin, OH	2.0	2.0	1403	$1,910	$1.36	44d	1	1.49mi
5814 Avery Crest Dr E Dublin, OH	1.0–3.0	1.0–2.0	971	$1,990	$2.05	44d	1	1.49mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $190,000 Active 45 DOM
2. 2026-06-17
   days on market $190,000 Active 44 DOM
3. 2026-06-16
   days on market $190,000 Active 43 DOM
4. 2026-06-15
   days on market $190,000 Active 42 DOM
5. 2026-06-13
   days on market $190,000 Active 40 DOM
6. 2026-06-09
   days on market $190,000 Active 36 DOM
7. 2026-06-08
   days on market $190,000 Active 35 DOM
8. 2026-06-07
   days on market $190,000 Active 34 DOM
9. 2026-06-05
   days on market $190,000 Active 31 DOM
10. 2026-06-03
    days on market $190,000 Active 30 DOM
11. 2026-06-02
    days on market $190,000 Active 29 DOM
12. 2026-06-01
    days on market $190,000 Active 28 DOM
13. 2026-05-31
    days on market $190,000 Active 27 DOM
14. 2026-05-04
    listed $190,000 Active 149-char remark
15. 2004-10-04
    soldstatus $75,000
16. 1995-02-02
    soldstatus $2,530,000

ⓘ 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: $4,056 · $338/mo
• Projected year-2 tax: $4,056 · $338/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,754
• − Mortgage interest: −$10,643
• − Property taxes: −$4,056
• − Insurance: −$950
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − HOA: −$2,640
• − Depreciation: −$5,527
• Taxable loss: −$3,023
• Est. tax savings @ 24.0%: +$726
• After-tax cash flow: $678/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: Hilliard City
• NCES district ID: 3904701
• Math proficiency: 57% ▼ -14.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $77,944
• Composite: 53.32/100
• National rank: #1479
• State rank: #246 of 656 in OH

Livability — Hilliard

• Score: 87/100
• State rank: #34
• US rank: #331

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hilliard, OH
• County: Franklin County · 1,351,780 people
• City population: 65,238
• Metro: Columbus, OH
• Population (ZIP): 65,238
• Household income: $111,440
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1356.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 1,456,139 people
• By 2030: 1,556,890 · +6.9%
• By 2040: 1,757,349 · +20.7%
• By 2050: 1,950,539 · +34.0%
• By 2075: 2,376,171 · +63.2%
• By 2100: 2,636,796 · +81.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 7% Asian 6% Black 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 4% Other Indo-European 3% Arabic 2%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+28.4) · D 63.7% · R 35.3% · Other 1.0%
• 2008→2024 swing: +7.7pp toward D · 2008: 20.7pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+31.4 2016: D+25.9 2012: D+21.7 2008: D+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -277.31%
• Current HPI: 268.491
• Rent YoY: ▲ 1.25%
• 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

-92.5% since first listed

3 events — show timeline

• 2026-05-04 Listed $190,000 CBRMLS
• 2004-10-04 Sold (Public Records) $75,000 Public Records
• 1995-02-02 Sold (Public Records) $2,530,000 Public Records

Property tax history

+7.0%/yr

Latest (2024): $4,056 · +22.8% YoY. Source: county tax records.