221 Dakota Ave · Columbus, OH 43223

$175,000

5 bd · 3.0 ba · 2,016 sqft · SingleFamily public records · 69 Days on market

Built 1900 4,356 sqft lot $87/sqft · 46% below area Est $322k · 46% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is an investment opportunity in Franklinton! There is over 2000 sqft, with 5 bedrooms, and 3 full bathrooms. This home also includes a full basement. An investment chance like this in Franklinton won't last long!

Key facts

• 4,356 sq ft lot
• Built 1900
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% in Columbus — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#97 in OH, #1,491 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F.
• Columbus City School District (urban): math 15% / reading 26% proficiency, ranked #626 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.6%/yr); 147 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,114/mo this rent would consume 54% of the median local household income ($47k/yr) (locally 1689% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $45k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $175k implies a 483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.86%
• DSCR: 1.44
• GRM: 6.9

CMA / ARV

• ARV (median comp): $322,080
• List price: $175,000
• Delta: -45.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
839 W Rich St	0.29mi	5/2.0	1,868 (-7%)	7mo	$102,000	$55	65
855 Sullivant Ave	0.30mi	4/2.5 (-1)	1,914 (-5%)	14mo	$310,000	$162	59
164 Wisconsin Ave #162	0.60mi	4/1.0 (-1)	1,910 (-5%)	18mo	$120,000	$63	35
45 N Guilford Ave	0.73mi	5/2.0	1,716 (-15%)	6mo	$232,500	$135	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $836
• Equity at exit: $26,093

10-year hold

• IRR: 11.7%
• Equity multiple: 2.00×
• Total profit: $48,780
• Equity at exit: $15,131

Cash invested: $49,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43223

• Rents YoY: 4.6%
• Active inventory: 147
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,114 high
• Mortgage (P&I): −$918
• Tax from tax record: −$277 /mo · $3,319/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $403

Break-even live

Break-even rent $1,604

Max offer price $175,000

Occupancy floor 76%

Sensitivity live

Price	-10% $502	-5% $452	+0% $403	+5% $353	+10% $304
Rent	-10% $236	-5% $319	+0% $403	+5% $486	+10% $570
Rate	-1.0pp $491	-0.5pp $447	base $403	+0.5pp $357	+1.0pp $311

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
158 Dakota Ave Columbus, OH	4.0	2.0	1800	$2,045	$1.14	9d	1	0.13mi
162 Wisconsin Ave Columbus, OH	4.0	2.5	1930	$1,900	$0.98	45d	1	0.60mi
63 Stevens Ave Columbus, OH	5.0	2.0	2437	$2,000	$0.82	9d	1	0.79mi
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	45d	1	0.80mi
228 Schultz Ave Unit 1407024P Columbus, OH	4.0	1.5	1991	$6,208	$3.12	16d	1	0.97mi
228 Schultz Ave Unit 1407033P Columbus, OH	5.0	1.5	1991	$5,806	$2.92	9d	1	0.97mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	25d	1	1.31mi

Listing history 19 events

1. 2026-06-21
   days on market $175,000 Active 69 DOM
2. 2026-06-18
   days on market $175,000 Active 66 DOM
3. 2026-06-17
   days on market $175,000 Active 65 DOM
4. 2026-06-16
   days on market $175,000 Active 64 DOM
5. 2026-06-15
   days on market $175,000 Active 63 DOM
6. 2026-06-13
   days on market $175,000 Active 61 DOM
7. 2026-06-13
   days on market $175,000 Active 60 DOM
8. 2026-06-09
   days on market $175,000 Active 57 DOM
9. 2026-06-08
   days on market $175,000 Active 56 DOM
10. 2026-06-07
    days on market $175,000 Active 55 DOM
11. 2026-06-05
    days on market $175,000 Active 52 DOM
12. 2026-06-03
    days on market $175,000 Active 51 DOM
13. 2026-06-02
    days on market $175,000 Active 50 DOM
14. 2026-06-01
    days on market $175,000 Active 49 DOM
15. 2026-05-31
    days on market $175,000 Active 48 DOM
16. 2026-04-13
    listed $219,900 Active 217-char remark

    Show marketing remark (217 chars)

    This is an investment opportunity in Franklinton! There is over 2000 sqft, with 5 bedrooms, and 3 full bathrooms. This home also includes a full basement. An investment chance like this in Franklinton won't last long!

17. 1998-09-07
    historical
18. 1997-12-09
    listed $29,900
19. 1988-03-04
    soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $3,319 · $277/mo
• Projected year-2 tax: $3,319 · $277/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,365
• − Mortgage interest: −$9,803
• − Property taxes: −$3,319
• − Insurance: −$875
• − Repairs & maintenance: −$2,029
• − Management: −$2,029
• − Depreciation: −$5,091
• Taxable income: $2,219
• Est. tax owed @ 24.0%: −$533
• After-tax cash flow: $4,300/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Columbus City School District
• NCES district ID: 3904380
• Math proficiency: 15% ▼ -17.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $38,483
• Composite: 17.19/100
• National rank: #9105
• State rank: #626 of 656 in OH

Livability — Columbus

• Score: 81/100
• State rank: #97
• US rank: #1491

Category grades

Amenities A- Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety A- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, OH
• County: Franklin County · 1,351,780 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 28,187
• Household income: $46,911
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1689.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 1,456,139 people
• By 2030: 1,556,890 · +6.9%
• By 2040: 1,757,349 · +20.7%
• By 2050: 1,950,539 · +34.0%
• By 2075: 2,376,171 · +63.2%
• By 2100: 2,636,796 · +81.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+28.4) · D 63.7% · R 35.3% · Other 1.0%
• 2008→2024 swing: +7.7pp toward D · 2008: 20.7pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+31.4 2016: D+25.9 2012: D+21.7 2008: D+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.33%
• Current HPI: 211.6742
• Rent YoY: ▲ 4.61%
• Metro: Columbus, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+633.0% since first listed

4 events — show timeline

• 2026-04-13 Listed $219,900 CBRMLS
• 1998-09-07 Listing Removed — CBRMLS
• 1997-12-09 Listed $29,900 CBRMLS
• 1988-03-04 Sold (Public Records) $30,000 Public Records

Property tax history

+12.9%/yr

Latest (2024): $3,319 · +1.3% YoY. Source: county tax records.