Real Estate Investing in Alger, Ohio (45812)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45812 (Alger, 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.
- High vacancy: 13.3% of homes vacant — above national norms.
- Elevated poverty: 25.7% poverty rate — can affect rent collection.
- Lower household income: $39,917 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Alger, OH (45812)?
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Market Analysis: 45812 Alger
The 45812 ZIP in Alger, OH is a local-operator market. Outside capital chasing a $166K entry has to pair deep knowledge with the discount.
Rent of $909/mo on a $166K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 45812 sits below the stated 0.0% once reality is priced in.
In the broader OH picture, 45812 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
On balance, 1,938 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 45812 is an operator game, not a passive one. Stepping back, entry prices of $166K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Alger:
Property Strategy for 45812
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $112,148 | $1,010 | 6.5% | +9.7% | $56,074 |
| 3BR | $175,053 | $1,280 | 5.3% | +8.8% | $58,351 |
Market Trends
Home Value History (with trend line)
📊 How Does 45812 Compare?
| Metric | 45812 | Alger | Ohio |
|---|---|---|---|
| Home Value | $165,596 | $165,596 | $237,530 |
| 5-Year CAGR | 7.3% | 7.3% | 7.4% |
| Avg Rent | $909 | $909 | - |
| Cap Rate | 4.3% | 4.3% | - |
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 45812 (Alger, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $165,596 |
| Monthly Rent | $909 |
| Price-to-Rent | 15.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +12.9% ▲ |
| 3-Year CAGR | +8.1% ▲ |
| 5-Year CAGR | +7.3% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (4.3%). 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 45812
Population: 1,938
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 45812
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Upper Scioto Valley Elementary School
Upper Scioto Valley High School
Upper Scioto Valley Middle School
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 1,790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do home values compare in Alger, OH?
In Alger, OH the median home value sits at $166K. Against the broader OH market, that reads as reasonable for most investors.
Does Alger, OH make sense for an investment property?
The 3.0/5 investability rating in Alger, OH reflects its $166K prices and $909/mo rents. Investors generally consider it a solid option within OH.
How deep is the rental pool in Alger, OH?
Expect a solid tenant pool in Alger, OH. The rental market absorbs $909/mo rents without meaningful friction.
How viable is house hacking in Alger, OH?
House hacking in Alger, OH is a challenging. With home values around $166K and rents at $909/mo, owner-occupants can offset a meaningful share of PITI.
How do landlord-tenant laws work in Alger, OH?
OH ranks as a landlord-friendly state for landlord-tenant law. Alger generally follows the statewide framework, so landlords face reasonable operating rules.
You know 45812 now. You don’t know where it ranks.
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