Real Estate Investing in Nova, Ohio (44859)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44859 (Nova, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 29.2 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Nova, OH (44859)?
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Market Analysis: 44859 Nova
ZIP 44859 inside Ashland County looks affordable on the surface — median value of $309K — but the discount exists for reasons that a careful buyer should understand before committing.
The 44859 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Meanwhile, 44859 offers a low basis, the region around Nova has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 44859 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 44859 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Nova:
Property Strategy for 44859
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $234,480 | $980 | 3.0% | +8.4% | $117,240 |
| 3BR | $300,368 | $1,270 | 3.0% | +9.6% | $100,123 |
| 4BR | $358,706 | $1,510 | 3.0% | +10.1% | $89,677 |
Market Trends
Home Value History (with trend line)
📊 How Does 44859 Compare?
| Metric | 44859 | Nova | Ashland, OH | Ohio |
|---|---|---|---|---|
| Home Value | $309,174 | $309,174 | N/A | $237,530 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 7.4% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44859 (Nova, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $309,174 |
| Monthly Rent | $882 |
| Price-to-Rent | 29.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44859
Population: 1,781
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the average home sale price in Nova, OH?
Nova, OH home values average about $309K. That price point suits investors targeting rentals with $882/mo in monthly income.
What is the renter demographic in Nova, OH?
Tenant demand in Nova, OH is solid. The local workforce $882/mo rents across most rental classes.
How does Nova, OH stack up for property investment?
With a 3.0/5 investability score, Nova, OH ranks as a solid market for rental property investors. Median prices of $309K and rents of $882/mo drive the underlying numbers.
Which investment style suits Nova, OH?
In Nova, OH the robust play is typically careful cash-flow rentals with hands-on management. The combination of $309K prices and $882/mo rents suits that approach.
Can I live-in-and-rent in Nova, OH?
Nova, OH is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $309K price point reasonable to enter.
You know 44859 now. You don’t know where it ranks.
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How 44859 ranks in Ashland, OH
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