1660 E Main St · Lancaster, OH 43130

$40,000

1 bd · 1.0 ba · 504 sqft · SingleFamily public records · 66 Days on market

Built 1993 7.63 ac lot $79/sqft · 58% below area $390/mo HOA · 39% 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).

• Cash flow +18.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 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

1993 Redman, 3 br, 2 bth. Mobile home in Lancaster Estates. Newer plywood under layment, carpet and vinyl flooring. Newer entry door , walk in shower and cabinet facings. Range, refrigerator, freezer, washer and dryer included.

Key facts

• 7.63 acre lot
• Built 1993
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $41 ($487/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 2 comparable units currently listed for rent nearby; 475 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 30y 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 $20k; list at $40k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; HOA is 39% of rent.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.48% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 3.4

CMA / ARV

• ARV (median comp): $204,000
• List price: $40,000
• Delta: -80.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.0%
• Equity multiple: 0.88×
• Total profit: $-1,325
• Equity at exit: $5,964

10-year hold

• IRR: 11.9%
• Equity multiple: 2.17×
• Total profit: $13,143
• Equity at exit: $3,458

Cash invested: $11,200 (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 43130

• Rents YoY: 5.2%
• Active inventory: 204
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $993 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$128 /mo · $1,530/yr
• Insurance: −$17
• HOA: −$390
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $41

Break-even live

Break-even rent $942

Max offer price $40,000

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
637 E Wheeling St Apt A Lancaster, OH	—	1.0	628	$895	$1.43	3d	1	1.12mi
1250 Sheridan Dr Lancaster, OH	1.0–3.0	1.0–1.5	959	$1,000	$1.04	1d	5	1.44mi

HOA detail

• Monthly dues: $390 · $4,680/yr

Listing history 50 events

1. 2026-06-18
   days on market $40,000 Active 66 DOM
2. 2026-06-17
   days on market $40,000 Active 65 DOM
3. 2026-06-16
   days on market $40,000 Active 64 DOM
4. 2026-06-15
   days on market $40,000 Active 63 DOM
5. 2026-06-13
   days on market $40,000 Active 61 DOM
6. 2026-06-09
   days on market $40,000 Active 57 DOM
7. 2026-06-08
   days on market $40,000 Active 56 DOM
8. 2026-06-07
   days on market $40,000 Active 55 DOM
9. 2026-06-03
   days on market $40,000 Active 51 DOM
10. 2026-06-02
    days on market $40,000 Active 50 DOM
11. 2026-06-01
    days on market $40,000 Active 49 DOM
12. 2026-05-31
    days on market $40,000 Active 48 DOM
13. 2026-04-13
    listed $40,000 Active 227-char remark

    Show marketing remark (227 chars)

    1993 Redman, 3 br, 2 bth. Mobile home in Lancaster Estates. Newer plywood under layment, carpet and vinyl flooring. Newer entry door , walk in shower and cabinet facings. Range, refrigerator, freezer, washer and dryer included.

14. 2020-11-18
    historical
15. 2020-10-28
    price $12,900
16. 2020-10-27
    status Active
17. 2020-10-15
    status Pending
18. 2020-10-07
    price $14,900
19. 2020-10-06
    status Active
20. 2020-09-22
    status Pending
21. 2020-08-30
    price $15,900
22. 2020-08-13
    price $17,900
23. 2020-07-23
    listed $21,900 Active
24. 2008-10-01
    historical
25. 2008-09-23
    listed $9,500
26. 2005-10-01
    soldstatus $19,500
27. 2005-09-24
    historical
28. 2005-05-01
    listed $21,500
29. 2004-08-09
    soldstatus $13,000
30. 2004-07-28
    historical
31. 2004-02-16
    listed $17,500
32. 2003-06-24
    historical
33. 2003-06-19
    historical
34. 2003-06-06
    historical
35. 2003-06-03
    listed $19,900
36. 2002-09-23
    listed $9,000
37. 2002-08-13
    listed $19,900
38. 2002-05-31
    soldstatus $10,000
39. 2002-05-17
    historical
40. 2002-03-04
    listed $13,500
41. 2000-05-23
    soldstatus $23,000
42. 2000-02-29
    historical
43. 1999-07-08
    listed $25,500
44. 1999-06-18
    soldstatus $56,000
45. 1998-04-10
    soldstatus $40,000
46. 1997-11-05
    historical
47. 1997-09-03
    historical
48. 1997-07-07
    listed $49,000
49. 1997-05-05
    listed $17,900
50. 1996-11-06
    historical

ⓘ 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: $1,530 · $128/mo
• Projected year-2 tax: $1,530 · $128/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 · 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: $11,918
• − Mortgage interest: −$2,241
• − Property taxes: −$1,530
• − Insurance: −$200
• − Repairs & maintenance: −$953
• − Management: −$953
• − HOA: −$4,680
• − Depreciation: −$1,164
• Taxable income: $196
• Est. tax owed @ 24.0%: −$47
• After-tax cash flow: $440/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

+300.0% since first listed

40 events — show timeline

• 2026-04-13 Listed $40,000 CBRMLS
• 2020-11-18 Listing Removed — CBRMLS
• 2020-10-28 Price Changed $12,900 CBRMLS
• 2020-10-27 Relisted — CBRMLS
• 2020-10-15 Pending — CBRMLS
• 2020-10-07 Price Changed $14,900 CBRMLS
• 2020-10-06 Relisted — CBRMLS
• 2020-09-22 Pending — CBRMLS
• 2020-08-30 Price Changed $15,900 CBRMLS
• 2020-08-13 Price Changed $17,900 CBRMLS
• 2020-07-23 Listed $21,900 CBRMLS
• 2008-10-01 Listing Removed — CBRMLS
• 2008-09-23 Listed $9,500 CBRMLS
• 2005-10-01 Sold (MLS) $19,500 CBRMLS
• 2005-09-24 Listing Removed — CBRMLS
• 2005-05-01 Listed $21,500 CBRMLS
• 2004-08-09 Sold (MLS) $13,000 CBRMLS
• 2004-07-28 Listing Removed — CBRMLS
• 2004-02-16 Listed $17,500 CBRMLS
• 2003-06-24 Listing Removed — CBRMLS
• 2003-06-19 Listing Removed — CBRMLS
• 2003-06-06 Listing Removed — CBRMLS
• 2003-06-03 Listed $19,900 CBRMLS
• 2002-09-23 Listed $9,000 CBRMLS
• 2002-08-13 Listed $19,900 CBRMLS
• 2002-05-31 Sold (MLS) $10,000 CBRMLS
• 2002-05-17 Listing Removed — CBRMLS
• 2002-03-04 Listed $13,500 CBRMLS
• 2000-05-23 Sold (MLS) $23,000 CBRMLS
• 2000-02-29 Listing Removed — CBRMLS
• 1999-07-08 Listed $25,500 CBRMLS
• 1999-06-18 Sold (Public Records) $56,000 Public Records
• 1998-04-10 Sold (Public Records) $40,000 Public Records
• 1997-11-05 Listing Removed — CBRMLS
• 1997-09-03 Listing Removed — CBRMLS
• 1997-07-07 Listed $49,000 CBRMLS
• 1997-05-05 Listed $17,900 CBRMLS
• 1996-11-06 Listing Removed — CBRMLS
• 1996-09-18 Listed $16,500 CBRMLS
• 1994-09-20 Sold (Public Records) $10,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,530 · +81.2% YoY. Source: county tax records.