124 Wyandotte St · Lancaster, OH 43130

$149,900

2 bd · 1.0 ba · 1,398 sqft · SingleFamily public records · 40 Days on market

Built 1900 1,306 sqft lot $107/sqft · 34% below area Est $228k · 34% under

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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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.3/10.0
• 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

NEW PRICE!ATTENTION REHABBERS AND MOVE UP BUYERS! COZY TWO STORY, WITH MANY UPDATES ALREADY COMPLETED. OFFERS NEW WINDOWS, NEWER SIDING, CARPET, BATH. CORPORATE OWNED SELLING 'AS IS' TO PREQUALIFIED BUYERS.

Key facts

• 1,306 sq ft lot
• Built 1900
• Listed 39 days

Property features AI

Finance

• HOA & community: Sidewalk in the community

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story; Built in 1900; No common walls
• Construction: Other foundation
• Exterior features: Patio; Fenced yard; Shed(s) and outbuilding

Interior

• Flooring: Wood flooring; Laminate flooring; Carpet; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial basement with walk-up access; Living area approximately 1398

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (7.1% below list).
• Recommended offer: $139k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.2% 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.
• Zoned schools: Tallmadge Elementary School (math 25% / reading 41%, grade F, #1,130 of 1,584 statewide, top 72%, 488 students, 70% FRL); Thomas Ewing Junior High School (math 34% / reading 49%, grade F, #503 of 654 statewide, top 77%, 705 students, 58% FRL); Lancaster High School (math 35% / reading 65%, grade D+, #384 of 781 statewide, top 49%, 1,848 students, 53% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 202 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $4k 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 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $54k; list at $150k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,248 (7.1% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.93% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 9.0

CMA / ARV

• ARV (median comp): $228,065
• List price: $149,900
• Delta: -34.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 E Locust St	0.45mi	2/1.0	1,418 (+1%)	2mo	$25,701	$18	75
515 E Chestnut St	0.31mi	3/1.5 (+1)	1,434 (+3%)	3mo	$152,900	$107	72
547 E Mulberry St	0.33mi	3/1.5 (+1)	1,436 (+3%)	3mo	$250,000	$174	71
834 E Main St	0.17mi	3/1.5 (+1)	1,293 (-8%)	2mo	$251,888	$195	71
539 King St	0.42mi	3/1.5 (+1)	1,443 (+3%)	0mo	$265,000	$184	68
648 King St	0.30mi	3/2.0 (+1)	1,468 (+5%)	1mo	$255,000	$174	68
701 Harding Ave	0.64mi	3/1.0 (+1)	1,400 (+0%)	0mo	$260,000	$186	65
706 Harding Ave	0.67mi	2/2.0	1,408 (+1%)	2mo	$215,000	$153	62
731 Boyd St	0.64mi	2/2.0	1,370 (-2%)	2mo	$365,000	$266	61
641 Sheridan Dr	0.69mi	2/1.0	1,453 (+4%)	3mo	$225,000	$155	59
349 E Allen St	0.71mi	3/1.5 (+1)	1,433 (+2%)	1mo	$355,000	$248	55
705 Madison Ave	0.58mi	3/2.0 (+1)	1,190 (-15%)	1mo	$239,900	$202	38

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: -9.0%
• Equity multiple: 0.66×
• Total profit: $-14,083
• Equity at exit: $22,351

10-year hold

• IRR: 3.1%
• Equity multiple: 1.25×
• Total profit: $10,419
• Equity at exit: $12,961

Cash invested: $41,972 (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: 202
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,392 high
• Mortgage (P&I): −$786
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $110

Break-even live

Break-even rent $1,253

Max offer price $149,900

Occupancy floor 87%

Sensitivity live

Price	-10% $195	-5% $153	+0% $110	+5% $68	+10% $26
Rent	-10% $0	-5% $55	+0% $110	+5% $165	+10% $220
Rate	-1.0pp $186	-0.5pp $149	base $110	+0.5pp $72	+1.0pp $32

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
747 E Main St Lancaster, OH	2.0	1.0	1150	$1,195	$1.04	0d	1	0.06mi
1508 Greyfield ST Lancaster, OH	1.0–3.0	1.0–2.0	953	$1,564	$1.64	0d	1	0.78mi
635 N High St Lancaster, OH	3.0	2.0	1608	$2,200	$1.37	46d	1	0.80mi
219 N Columbus St Unit 231 Lancaster, OH	2.0	2.0	975	$1,735	$1.78	46d	1	0.98mi
219 N Columbus St Unit 205 Lancaster, OH	2.0	2.0	1103	$1,875	$1.70	46d	1	0.98mi
219 N Columbus St Lancaster, OH	1.0–2.0	1.0–2.0	1184	$1,895	$1.60	0d	31	0.98mi
532 N Columbus St Unit A Lancaster, OH	2.0	1.0	1300	$1,550	$1.19	46d	1	1.03mi

Listing history 26 events

1. 2026-06-22
   days on market $149,900 Active 40 DOM
2. 2026-06-21
   days on market $149,900 Active 39 DOM
3. 2026-06-18
   days on market $149,900 Active 36 DOM
4. 2026-06-17
   days on market $149,900 Active 35 DOM
5. 2026-06-16
   days on market $149,900 Active 34 DOM
6. 2026-06-15
   days on market $149,900 Active 33 DOM
7. 2026-06-13
   days on market $149,900 Active 31 DOM
8. 2026-06-09
   days on market $149,900 Active 27 DOM
9. 2026-06-08
   days on market $149,900 Active 26 DOM
10. 2026-06-07
    days on market $149,900 Active 25 DOM
11. 2026-06-03
    days on market $149,900 Active 21 DOM
12. 2026-06-02
    days on market $149,900 Active 20 DOM
13. 2026-06-01
    days on market $149,900 Active 19 DOM
14. 2026-05-31
    days on market $149,900 Active 18 DOM
15. 2026-05-13
    listed $154,900 Active 350-char remark
16. 2025-10-10
    historical
17. 2025-08-28
    price $154,900
18. 2025-08-15
    status Active
19. 2025-07-06
    historical
20. 2025-06-25
    listed $159,900 Active
21. 2004-05-28
    soldstatus $54,000
22. 2004-05-14
    soldstatus $54,000

    Show marketing remark (206 chars)

    NEW PRICE!ATTENTION REHABBERS AND MOVE UP BUYERS! COZY TWO STORY, WITH MANY UPDATES ALREADY COMPLETED. OFFERS NEW WINDOWS, NEWER SIDING, CARPET, BATH. CORPORATE OWNED SELLING 'AS IS' TO PREQUALIFIED BUYERS.

23. 2004-04-20
    historical

    Show marketing remark (206 chars)

    NEW PRICE!ATTENTION REHABBERS AND MOVE UP BUYERS! COZY TWO STORY, WITH MANY UPDATES ALREADY COMPLETED. OFFERS NEW WINDOWS, NEWER SIDING, CARPET, BATH. CORPORATE OWNED SELLING 'AS IS' TO PREQUALIFIED BUYERS.

24. 2003-12-22
    historical
25. 2003-12-14
    listed $54,900

    Show marketing remark (206 chars)

    NEW PRICE!ATTENTION REHABBERS AND MOVE UP BUYERS! COZY TWO STORY, WITH MANY UPDATES ALREADY COMPLETED. OFFERS NEW WINDOWS, NEWER SIDING, CARPET, BATH. CORPORATE OWNED SELLING 'AS IS' TO PREQUALIFIED BUYERS.

26. 2003-07-22
    listed $66,900

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $2,015 · $168/mo
• Expected delta: +$323/yr (+$27/mo · 19.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 19 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: $16,710
• − Mortgage interest: −$8,397
• − Property taxes: −$1,692
• − Insurance: −$750
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$4,361
• Taxable loss: −$1,163
• Est. tax savings @ 24.0%: +$279
• After-tax cash flow: $1,605/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

• Census place: Lancaster, OH
• 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

+124.1% since first listed

13 events — show timeline

• 2026-05-27 Price Changed $149,900 CBRMLS
• 2026-05-13 Listed $154,900 CBRMLS
• 2025-10-10 Listing Removed — CBRMLS
• 2025-08-28 Price Changed $154,900 CBRMLS
• 2025-08-15 Relisted — CBRMLS
• 2025-07-06 Listing Removed — CBRMLS
• 2025-06-25 Listed $159,900 CBRMLS
• 2004-05-28 Sold (Public Records) $54,000 Public Records
• 2004-05-14 Sold (MLS) $54,000 CBRMLS
• 2004-04-20 Listing Removed — CBRMLS
• 2003-12-22 Listing Removed — CBRMLS
• 2003-12-14 Listed $54,900 CBRMLS
• 2003-07-22 Listed $66,900 CBRMLS

Property tax history

+7.7%/yr

Latest (2025): $1,692 · +28.3% YoY. Source: county tax records.