Real Estate Investing in Greenfield, Ohio (45123)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45123 (Greenfield, 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 vacancy: 14.9% 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 Greenfield, OH (45123)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 45123 Greenfield
Not every below-median market is a bargain. Greenfield's 45123 ZIP records signals that favor experienced operators who can absorb the risk $170K pricing implies.
For an experienced owner, 45123 can be a an appealing option for hunting ground — but the discount at $170K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Greenfield have seen price recovery that 45123 has not matched. Highland County data supports the view that the spread is structural rather than temporary.
Employment concentration in 45123 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 45123 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Greenfield:
Property Strategy for 45123
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $125,475 | $970 | 5.6% | +12.7% | $62,738 |
| 3BR | $191,970 | $1,180 | 4.4% | +10.3% | $63,990 |
| 4BR | $210,999 | $1,450 | 4.9% | +9.7% | $52,750 |
Market Trends
Home Value History (with trend line)
📊 How Does 45123 Compare?
| Metric | 45123 | Greenfield | Chillicothe, OH | Ohio |
|---|---|---|---|---|
| Home Value | $170,173 | $170,173 | N/A | $237,530 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 7.4% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 45123 (Greenfield, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $170,173 |
| Monthly Rent | $873 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +8.6% ▲ |
🏠 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 (4.0%). 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 45123
Population: 8,739
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 45123
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
Investor Insight: With 1,088 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in Greenfield, OH?
Investors in Greenfield, OH typically see rents near $873/mo per month against $170K home values - a solid setup for rental cash flow.
Do rentals sit vacant long in Greenfield, OH?
Rental vacancy in Greenfield, OH is elevated. Investors should budget normal turnover but not chronic empty units.
How does Greenfield, OH stack up for property investment?
Yes - Greenfield, OH a 3.0/5 investability score. With $170K home prices against $873/mo monthly rent, the market delivers a reasonable entry point for new investors.
How deep is the rental pool in Greenfield, OH?
The tenant pool in Greenfield, OH is solid, supported by local employment and population fundamentals. Rents of $873/mo are well-absorbed by the market.
Is Greenfield, OH better for rentals, flips, or BRRRR?
For Greenfield, OH, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 45123 now. You don’t know where it ranks.
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