2445 Columbus-lancaster Rd NW Lot 30

Lancaster, OH 43130

$49,900B+

3 bd · 2.0 ba · 966 sqft · Built 1991 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,516/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$672
• Vac / Maint / Mgmt: −$318
• Net cashflow: $181/mo
• Annual: $2,171/yr
• Cap rate: 10.64%
• Cash-on-cash: 15.54%
• DSCR: 1.69
• 1% rule: 3.04%
• Cash to close: $13,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $50k. Condition is rated average.
• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• 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.
• Watch-outs: HOA is 44% of rent.
• 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).
• 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 $14k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 10.6% 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Weathered and discolored, indicating need for repainting or replacement.
• Moderate: HVAC system — Not recently serviced, may need cleaning or minor repairs.
• Minor: Landscaping — Overgrown areas need trimming and some plants may need replacement.