8047 Edgewater Xing Unit B · Pickerington, OH 43147

$377,990

3 bd · 2.5 ba · 2,187 sqft · SingleFamily · 44 Days on market

Built 2026 3,920 sqft lot $173/sqft · 20% below area Est $474k · 20% under ↓ 2% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• Schools +5.7/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New construction in the beautiful Sycamore Springs community, featuring the stunning Wembley design. This functional yet stylish design offers 3 bedrooms, 2 full baths, and 1 half bath. This design combines modern convenience with flexible living spaces. The open-concept layout with an island kitchen and large pantry storage connects to the dining room, creating inviting spaces perfect for both everyday living and entertaining. Private study with French doors. The owner's suite is on the main level and serves as a private retreat, featuring a walk-in closet and private bath. Spacious upper level loft and storage closet. This home blends practical design with customizable comfort for today's homeowners. Convenient 2-bay garage completes this exceptional home.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $378k.

Deal economics

• At list price, monthly cash flow is $-607 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (32.9% below list).
• Recommended offer: $254k (32.9% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.3% in Pickerington — 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 77/100 on livability (#197 in OH, #3,031 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute F.
• Pickerington Local (suburban): math 58% / reading 69% proficiency, ranked #186 of 656 in OH (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.0%/yr); 225 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $3k of loan paydown is wiped out by about $11k 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 44 days — a 3% lower offer ($367k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $253,796 (32.9% 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 44 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.88%
• DSCR: 0.69
• GRM: 12.4

CMA / ARV

• ARV (median comp): $474,352
• List price: $377,990
• Delta: -20.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8701 Creekwood Pl	0.39mi	3/2.5	2,249 (+3%)	12mo	$466,900	$208	67
8394 Tranquil Trl	0.27mi	4/2.5 (+1)	1,951 (-11%)	1mo	$654,395	$335	64
8857 Creekwood Dr	0.54mi	3/2.0	2,292 (+5%)	8mo	$438,200	$191	58
7832 Windsor Ave NW	0.64mi	4/3.5 (+1)	2,320 (+6%)	12mo	$559,518	$241	41
7949 Bluefield St NW	0.73mi	4/3.0 (+1)	2,400 (+10%)	12mo	$525,900	$219	33

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 · 3.01% rent growth · sell at horizon

5-year hold

• IRR: -28.2%
• Equity multiple: 0.06×
• Total profit: $-99,861
• Equity at exit: $56,360

10-year hold

• IRR: -27.2%
• Equity multiple: -0.29×
• Total profit: $-136,495
• Equity at exit: $32,682

Cash invested: $105,837 (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 43147

• Rents YoY: 3.0%
• Active inventory: 225
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,538 medium
• Mortgage (P&I): −$1,982
• Tax est. 1.5%: −$472 /mo · $5,670/yr
• Insurance: −$157
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $-607

Break-even live

Break-even rent $3,307

Max offer price $290,125

Occupancy floor —

Sensitivity live

Price	-10% $-346	-5% $-477	+0% $-607	+5% $-738	+10% $-868
Rent	-10% $-808	-5% $-707	+0% $-607	+5% $-507	+10% $-407
Rate	-1.0pp $-417	-0.5pp $-511	base $-607	+0.5pp $-705	+1.0pp $-805

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: $94,498
• Closing costs: $11,340
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
353 Laurel Creek St Pickerington, OH	2.0	2.5	1520	$2,199	$1.45	5d	1	0.93mi
433 Furman St Pickerington, OH	3.0	3.5	2474	$2,825	$1.14	45d	1	1.24mi
609 Lanning St Pickerington, OH	3.0	2.5	1945	$2,461	$1.27	21d	1	1.28mi

Listing history 5 events

1. 2026-05-05
   price $377,990 768-char remark

   Show marketing remark (768 chars)

   New construction in the beautiful Sycamore Springs community, featuring the stunning Wembley design. This functional yet stylish design offers 3 bedrooms, 2 full baths, and 1 half bath. This design combines modern convenience with flexible living spaces. The open-concept layout with an island kitchen and large pantry storage connects to the dining room, creating inviting spaces perfect for both everyday living and entertaining. Private study with French doors. The owner's suite is on the main level and serves as a private retreat, featuring a walk-in closet and private bath. Spacious upper level loft and storage closet. This home blends practical design with customizable comfort for today's homeowners. Convenient 2-bay garage completes this exceptional home.

2. 2026-04-06
   price $379,990 768-char remark

   Show marketing remark (768 chars)

   New construction in the beautiful Sycamore Springs community, featuring the stunning Wembley design. This functional yet stylish design offers 3 bedrooms, 2 full baths, and 1 half bath. This design combines modern convenience with flexible living spaces. The open-concept layout with an island kitchen and large pantry storage connects to the dining room, creating inviting spaces perfect for both everyday living and entertaining. Private study with French doors. The owner's suite is on the main level and serves as a private retreat, featuring a walk-in closet and private bath. Spacious upper level loft and storage closet. This home blends practical design with customizable comfort for today's homeowners. Convenient 2-bay garage completes this exceptional home.

3. 2026-04-06
   status Active 768-char remark

   Show marketing remark (768 chars)

   New construction in the beautiful Sycamore Springs community, featuring the stunning Wembley design. This functional yet stylish design offers 3 bedrooms, 2 full baths, and 1 half bath. This design combines modern convenience with flexible living spaces. The open-concept layout with an island kitchen and large pantry storage connects to the dining room, creating inviting spaces perfect for both everyday living and entertaining. Private study with French doors. The owner's suite is on the main level and serves as a private retreat, featuring a walk-in closet and private bath. Spacious upper level loft and storage closet. This home blends practical design with customizable comfort for today's homeowners. Convenient 2-bay garage completes this exceptional home.

4. 2026-03-13
   status Pending 768-char remark

   Show marketing remark (768 chars)

   New construction in the beautiful Sycamore Springs community, featuring the stunning Wembley design. This functional yet stylish design offers 3 bedrooms, 2 full baths, and 1 half bath. This design combines modern convenience with flexible living spaces. The open-concept layout with an island kitchen and large pantry storage connects to the dining room, creating inviting spaces perfect for both everyday living and entertaining. Private study with French doors. The owner's suite is on the main level and serves as a private retreat, featuring a walk-in closet and private bath. Spacious upper level loft and storage closet. This home blends practical design with customizable comfort for today's homeowners. Convenient 2-bay garage completes this exceptional home.

5. 2026-03-11
   listed $387,387 Active 768-char remark

   Show marketing remark (768 chars)

   New construction in the beautiful Sycamore Springs community, featuring the stunning Wembley design. This functional yet stylish design offers 3 bedrooms, 2 full baths, and 1 half bath. This design combines modern convenience with flexible living spaces. The open-concept layout with an island kitchen and large pantry storage connects to the dining room, creating inviting spaces perfect for both everyday living and entertaining. Private study with French doors. The owner's suite is on the main level and serves as a private retreat, featuring a walk-in closet and private bath. Spacious upper level loft and storage closet. This home blends practical design with customizable comfort for today's homeowners. Convenient 2-bay garage completes this exceptional home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,456
• − Mortgage interest: −$21,173
• − Property taxes: −$5,670
• − Insurance: −$1,890
• − Repairs & maintenance: −$2,436
• − Management: −$2,436
• − Depreciation: −$10,996
• Taxable loss: −$14,147
• Est. tax savings @ 24.0%: +$3,395
• After-tax cash flow: $-3,891/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: Pickerington Local
• NCES district ID: 3904689
• Math proficiency: 58% ▼ -18.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $81,735
• Composite: 56.97/100
• National rank: #1112
• State rank: #186 of 656 in OH

Livability — Pickerington

• Score: 77/100
• State rank: #197
• US rank: #3031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pickerington, OH
• County: Fairfield County · 109,896 people
• City population: 46,963
• Metro: Columbus, OH
• Population (ZIP): 46,963
• Household income: $126,534
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 375.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Two or more races 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada, India, Vietnam
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 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: ▼ -221.01%
• Current HPI: 232.8039
• Rent YoY: ▲ 3.01%
• 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

-2.4% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $377,990 CBRMLS
• 2026-04-06 Price Changed $379,990 CBRMLS
• 2026-04-06 Relisted — CBRMLS
• 2026-03-13 Pending — CBRMLS
• 2026-03-11 Listed $387,387 CBRMLS