266 10th St · Lancaster, OH 43130

$68,000

1 bd · 1.5 ba · 651 sqft · SingleFamily public records · 98 Days on market

Built 1900 871 sqft lot $104/sqft · 58% above area Est $68k · at est. $294/mo HOA · 27% of rent ↓ 15% 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 +23.5/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.6/15.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN SUNDAY, 5-24-26, 1-3pm. This 1BR cottage is structurally solid and just needs some aesthetic updating. Newer LVP flooring on main level, living room painted a neutral color, solid, wide stair case, open concept living, a bath on each level, laundry off the kitchen, balcony off upper level bedroom and community parking right across the way! Come and see for yourself what a great cottage this is!

Key facts

• Open concept living
• Lvp flooring
• Community pool

Tags

• LVP FLOORING
• OPEN CONCEPT LIVING

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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).
• This rent is only 18% of the median local income ($72k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 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 $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($62k) 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 $61,880 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.57% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.02%
• DSCR: 1.36
• GRM: 5.3

CMA / ARV

• ARV (median comp): $68,225
• List price: $68,000
• Delta: -0.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.22% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-304
• Equity at exit: $10,139

10-year hold

• IRR: 12.3%
• Equity multiple: 2.12×
• Total profit: $21,342
• Equity at exit: $5,879

Cash invested: $19,040 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$28
• HOA: −$294
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $127

Break-even live

Break-even rent $908

Max offer price $68,000

Occupancy floor 83%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $294 · $3,528/yr

Listing history 16 events

1. 2026-06-18
   days on market $68,000 Active 98 DOM
2. 2026-06-17
   days on market $68,000 Active 97 DOM
3. 2026-06-16
   days on market $68,000 Active 96 DOM
4. 2026-06-15
   days on market $68,000 Active 95 DOM
5. 2026-06-13
   days on market $68,000 Active 93 DOM
6. 2026-06-09
   days on market $68,000 Active 89 DOM
7. 2026-06-08
   days on market $68,000 Active 88 DOM
8. 2026-06-07
   days on market $68,000 Active 87 DOM
9. 2026-06-03
   days on market $68,000 Active 83 DOM
10. 2026-06-02
    days on market $68,000 Active 82 DOM
11. 2026-06-01
    days on market $68,000 Active 81 DOM
12. 2026-05-31
    days on market $68,000 Active 80 DOM
13. 2026-05-19
    price $68,000 402-char remark

    Show marketing remark (402 chars)

    OPEN SUNDAY, 5-24-26, 1-3pm. This 1BR cottage is structurally solid and just needs some aesthetic updating. Newer LVP flooring on main level, living room painted a neutral color, solid, wide stair case, open concept living, a bath on each level, laundry off the kitchen, balcony off upper level bedroom and community parking right across the way! Come and see for yourself what a great cottage this is!

14. 2026-05-01
    price $75,000 402-char remark

    Show marketing remark (402 chars)

    OPEN SUNDAY, 5-24-26, 1-3pm. This 1BR cottage is structurally solid and just needs some aesthetic updating. Newer LVP flooring on main level, living room painted a neutral color, solid, wide stair case, open concept living, a bath on each level, laundry off the kitchen, balcony off upper level bedroom and community parking right across the way! Come and see for yourself what a great cottage this is!

15. 2026-04-16
    price $78,000 402-char remark

    Show marketing remark (402 chars)

    OPEN SUNDAY, 5-24-26, 1-3pm. This 1BR cottage is structurally solid and just needs some aesthetic updating. Newer LVP flooring on main level, living room painted a neutral color, solid, wide stair case, open concept living, a bath on each level, laundry off the kitchen, balcony off upper level bedroom and community parking right across the way! Come and see for yourself what a great cottage this is!

16. 2026-03-12
    listed $80,000 Active 402-char remark

    Show marketing remark (402 chars)

    OPEN SUNDAY, 5-24-26, 1-3pm. This 1BR cottage is structurally solid and just needs some aesthetic updating. Newer LVP flooring on main level, living room painted a neutral color, solid, wide stair case, open concept living, a bath on each level, laundry off the kitchen, balcony off upper level bedroom and community parking right across the way! Come and see for yourself what a great cottage this is!

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $763 · $64/mo
• Expected delta: +$298/yr (+$25/mo · 64.2%)

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

Taxation est. · year 1

• Rental income: $12,834
• − Mortgage interest: −$3,809
• − Property taxes: −$464
• − Insurance: −$340
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − HOA: −$3,528
• − Depreciation: −$1,978
• Taxable income: $661
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $1,369/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

-15.0% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $68,000 CBRMLS
• 2026-05-01 Price Changed $75,000 CBRMLS
• 2026-04-16 Price Changed $78,000 CBRMLS
• 2026-03-12 Listed $80,000 CBRMLS

Property tax history

+5.4%/yr

Latest (2025): $464 · -5.9% YoY. Source: county tax records.