268 10th St · Lancaster, OH 43130

$94,900

1 bd · 1.5 ba · 948 sqft · SingleFamily public records · 36 Days on market

Built 1900 435 sqft lot $100/sqft · 35% above area Est $70k · 35% over $326/mo HOA · 27% of rent

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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 +16.0/30.0
• 1% rule +7.6/10.0
• DSCR +5.0/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Nothing to do but move in! Upon entering the foyer you walk into the Pullman kitchen with built in storage cabinets on one side and a wall of cabinets on the opposite side for lots of dishware space. All appliances and window coverings stay. Stackable washer/dryer stays. Gas Trane furnace is under warranty until 10-4-26. Newer storm doors and windows installed, by The Windowman, in 2023. New roof on 6-15-21.

Key facts

• Pool
• Built 1900
• Listed 36 days

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Monthly association fee of $326; Community pool; Association fee covers water, sewer, trash, and snow removal

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; No shared/common walls; Built in 1900
• Construction: Slab foundation
• Exterior features: Inground pool; Shed on property; Vacant adjacent lot is leased and included in lot rent

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Insulated windows throughout

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $47 ($568/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 $656 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 1.26% ✓
• Cap rate: 6.89%
• Cash-on-cash: 2.14%
• DSCR: 1.10
• GRM: 6.6

CMA / ARV

• ARV (median comp): $70,198
• List price: $94,900
• Delta: 35.19%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2445 Columbus Lancaster Rd NW Unit 383 Hemlock	0.14mi	2/1.0 (+1)	924 (-2%)	3mo	$30,000	$32	80
2445 Columbus Lancaster Rd NW Lot 408 Walnut St	0.14mi	2/1.0 (+1)	980 (+3%)	5mo	$5,000	$5	77
2445 Columbus Lancaster Rd NW #126	0.22mi	2/1.5 (+1)	952 (+0%)	23mo	$16,000	$17	65
2445 Columbus-lancaster Rd NW Lot 340	0.22mi	2/1.0 (+1)	980 (+3%)	18mo	$38,250	$39	62
2445 Columbus Lancaster Rd Rd NW Lot 138	0.22mi	2/2.0 (+1)	1,067 (+13%)	21mo	$89,000	$83	44

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: -9.4%
• Equity multiple: 0.64×
• Total profit: $-9,461
• Equity at exit: $14,150

10-year hold

• IRR: 3.7%
• Equity multiple: 1.30×
• Total profit: $8,065
• Equity at exit: $8,205

Cash invested: $26,572 (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 43130

• Rents YoY: 5.2%
• Active inventory: 204
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,197 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$40
• HOA: −$326
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $47

Break-even live

Break-even rent $1,137

Max offer price $94,900

Occupancy floor 91%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $326 · $3,912/yr
• Likely covers: gas

Listing history 6 events

1. 2026-06-07
   statusdays on market $94,900 Pending 36 DOM
2. 2026-06-03
   days on market $94,900 Active 34 DOM
3. 2026-06-02
   days on market $94,900 Active 33 DOM
4. 2026-06-01
   days on market $94,900 Active 32 DOM
5. 2026-05-31
   days on market $94,900 Active 31 DOM
6. 2026-04-30
   listed $94,900 Active 411-char remark

ⓘ 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: $424 · $35/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$528/yr (+$44/mo · 124.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,369
• − Mortgage interest: −$5,316
• − Property taxes: −$424
• − Insurance: −$474
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − HOA: −$3,912
• − Depreciation: −$2,761
• Taxable loss: −$818
• Est. tax savings @ 24.0%: +$196
• After-tax cash flow: $765/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: 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

2 events — show timeline

• 2026-06-05 Pending — CBRMLS
• 2026-04-30 Listed $94,900 CBRMLS

Property tax history

+14.1%/yr

Latest (2025): $424 · +4.9% YoY. Source: county tax records.