Real Estate Investing in Andover, Ohio (44003)
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Should you buy in 44003 (Andover, OH)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 50.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Andover, OH (44003)?
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Market Analysis: 44003 Andover
ZIP 44003 offers what many appreciation markets cannot: an affordable basis at $62K and rent support of $981/mo for rehab-driven equity creation in Ashtabula County.
Investors in 44003 do not buy the market average — they buy the unit they can improve. $62K median pricing and $981/mo comps define the envelope within which the work has to pay.
The worth a close look for piece of regional context is that nearby ZIPs with newer stock and higher basis have priced out of the value-add game. 44003 has not.
The a strong candidate for angle on demographics here is renter willingness to pay a premium for renovated product. The 21% rental share provides scale for the strategy.
The strategy in 44003 is forced equity, not market equity. On the rental side, entry prices are accommodating at $62K, the returns sit in the renovation budget, not the holding period.
Here's what matters if you're considering buying a home in Andover:
Property Strategy for 44003
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $147,048 | $1,090 | 5.3% | +8.9% | $73,524 |
| 3BR | $194,735 | $1,320 | 4.9% | +7.9% | $64,912 |
| 4BR | $214,562 | $1,500 | 5.0% | +7.6% | $53,640 |
Market Trends
Home Value History (with trend line)
📊 How Does 44003 Compare?
| Metric | 44003 | Andover | Ashtabula, OH | Ohio |
|---|---|---|---|---|
| Home Value | $62,383 | $62,383 | N/A | $237,530 |
| 5-Year CAGR | 4.3% | 4.3% | N/A | 7.4% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 12.3% | 12.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44003 (Andover, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $62,383 |
| Monthly Rent | $981 |
| Price-to-Rent | 5.3:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 18.9% |
| Cap Rate | 12.3% |
| 5-Year IRR | 16.6% |
📈 Home Appreciation
| 1-Year | -0.2% ▼ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +4.3% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (12.3%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44003
Population: 4,379
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 44003
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What are home prices like in Andover, OH?
Median home price in Andover, OH is near $62K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
How do experienced investors play Andover, OH?
The best-fit strategy in Andover, OH is value-add and BRRRR deals. That approach the rent and price profile of the market.
Does rental property in Andover, OH pass the 1% rule?
Andover, OH delivers a 1.57% rent-to-price ratio on average. Investors targeting the 1% rule will find solid opportunities.
How much rent can I charge in Andover, OH?
Andover, OH rentals go for roughly $981/mo a month. That puts gross yield in solid territory relative to $62K acquisition costs.
Is Andover, OH good for BRRRR investors?
BRRRR viability in Andover, OH is a strong. Disciplined acquisition and rehab can hit the 75% LTV refinance target at market comps.
You know 44003 now. You don’t know where it ranks.
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How 44003 ranks in Ashtabula, OH
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