Real Estate Investing in Frankfort, Ohio (45628)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45628 (Frankfort, OH)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.0% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Frankfort, OH (45628)?
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Market Analysis: 45628 Frankfort
ZIP 45628 inside Ross County looks affordable on the surface — median value of $235K — but the discount exists for reasons that a careful buyer should understand before committing.
The 45628 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Stepping back, 45628 offers a low basis, the region around Frankfort has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 45628 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 45628 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Frankfort:
Property Strategy for 45628
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $194,997 | $1,190 | 4.4% | +7.0% | $97,498 |
| 3BR | $262,972 | $1,500 | 4.1% | +8.3% | $87,657 |
| 4BR | $283,002 | $1,580 | 4.0% | +6.0% | $70,750 |
Market Trends
Home Value History (with trend line)
📊 How Does 45628 Compare?
| Metric | 45628 | Frankfort | Chillicothe, OH | Ohio |
|---|---|---|---|---|
| Home Value | $235,306 | $235,306 | N/A | $237,530 |
| 5-Year CAGR | 5.7% | 5.7% | N/A | 7.4% |
| Avg Rent | $1,071 | $1,071 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 45628 (Frankfort, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $235,306 |
| Monthly Rent | $1,071 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (3.6%). 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 45628
Population: 5,670
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 45628
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
How much do tenants pay in Frankfort, OH?
Expect rents around $1,071/mo per month in Frankfort, OH. With home values at $235K, the yield math works out to reasonable levels for rental investors.
What are vacancy rates like in Frankfort, OH?
Vacancy in Frankfort, OH is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,071/mo.
Is Frankfort in OH worth investing in?
Our data puts Frankfort, OH at 3.0/5 for investability. Home prices of $235K and rents around $1,071/mo create a solid backdrop for investor activity.
What is the typical renter like in Frankfort, OH?
Frankfort, OH offers a measured renter base at the $1,071/mo rent level. Tenant turnover is reasonable for well-managed properties.
How do experienced investors play Frankfort, OH?
The best-fit strategy in Frankfort, OH is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 45628 now. You don’t know where it ranks.
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How 45628 ranks in Chillicothe, OH
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