2515 Joi Ave · Columbus, OH 43219

$160,000

3 bd · 1.0 ba · 952 sqft · SingleFamily public records · 3 Days on market

Built 1971 7,405 sqft lot Est $162k · at est.

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Why this score? — see what drove the D 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 +14.3/30.0
• ARV discount +8.0/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Home being sold as is. Basement walls need serious work.

Key facts

• 7,405 sq ft lot
• Built 1971
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $29 ($354/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (12.1% below list).
• Recommended offer: $141k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 soft (-0.8%/yr); 103 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 32% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $140,563 (12.1% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $161,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2526 Queenswood Dr	0.08mi	3/1.0	952 (0%)	2mo	$188,900	$198	95
2144 Toni St	0.49mi	3/1.0	961 (+1%)	2mo	$172,500	$180	74
2655 Mock Rd	0.40mi	3/1.0	1,008 (+6%)	1mo	$120,000	$119	70
2288 Middlehurst Dr	0.33mi	4/1.0 (+1)	995 (+4%)	8mo	$79,601	$80	66
2228 Holt Ave	0.49mi	2/1.0 (-1)	972 (+2%)	6mo	$165,000	$170	64
2282 Dawnlight Ave	0.75mi	3/1.0	960 (+1%)	3mo	$107,500	$112	61
1642 Marina Dr	0.54mi	3/1.0	881 (-8%)	1mo	$155,000	$176	61
2357 Argyle Dr	0.37mi	3/1.0	868 (-9%)	8mo	$145,000	$167	61
1794 Devonshire Rd	0.31mi	4/1.0 (+1)	1,061 (+11%)	5mo	$180,000	$170	57
1799 Brentnell Ave	0.40mi	3/1.0	1,077 (+13%)	4mo	$199,900	$186	56
1893 Jermain Dr	0.63mi	4/1.0 (+1)	995 (+4%)	4mo	$134,000	$135	55
2145 Argyle Dr	0.51mi	3/1.0	1,072 (+13%)	1mo	$145,000	$135	54

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.37×
• Total profit: $-28,163
• Equity at exit: $23,857

10-year hold

• IRR: -18.0%
• Equity multiple: 0.15×
• Total profit: $-38,003
• Equity at exit: $13,834

Cash invested: $44,800 (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 43219

• Rents YoY: -0.8%
• Active inventory: 103
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$839
• Tax from tax record: −$175 /mo · $2,103/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $29

Break-even live

Break-even rent $1,368

Max offer price $160,000

Occupancy floor 93%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2504 Vendome Dr Columbus, OH	3.0	1.0	1072	$1,600	$1.49	14d	1	0.24mi
1803 Canopy Ln Columbus, OH	2.0	2.0	980	$1,650	$1.68	21d	1	0.30mi
2845 Austin Manor Blvd Columbus, OH	2.0	1.0–2.0	819	$1,420	$1.73	23d	1	0.59mi
1879 Jermain Dr Columbus, OH	4.0	1.0	1077	$1,800	$1.67	43d	1	0.63mi
3030 Sunbury Ridge Dr Columbus, OH	1.0–2.0	1.0–1.5	1000	$1,719	$1.72	1d	20	0.67mi
2341 Dawnlight Ave Columbus, OH	3.0	1.0	920	$1,550	$1.68	3d	1	0.80mi
1310 Woodnell Ave Columbus, OH	3.0	1.0	925	$1,300	$1.41	43d	1	0.91mi
1867 Alvason Ave Columbus, OH	3.0	1.0	999	$1,400	$1.40	43d	1	0.93mi
2228 Minnesota Ave Columbus, OH	2.0	1.0	1025	$1,245	$1.21	15d	1	1.04mi
3089 Cassady Village Trl Columbus, OH	2.0	1.0	839	$995	$1.19	43d	1	1.04mi
2317 Parkwood Ave Columbus, OH	2.0	1.0	672	$995	$1.48	7d	1	1.05mi
2291 Taylor Ave Columbus, OH	3.0	1.0	979	$1,300	$1.33	43d	1	1.08mi
2930 E 13th Ave Columbus, OH	2.0	1.0	672	$1,095	$1.63	23d	1	1.19mi
2695 Divot Pl Unit 2676 Columbus, OH	3.0	2.0	1050	$1,149	$1.09	43d	1	1.29mi
1609-1611 E 26th Ave Columbus, OH	2.0	1.0	1080	$1,150	$1.06	2d	1	1.31mi
1609-1611 E 26th Ave Columbus, OH	2.0	1.0	1080	$1,200	$1.11	23d	1	1.31mi
2761 Wedge St Columbus, OH	2.0	1.0	765	$970	$1.27	7d	1	1.36mi
2761 Wedge St Columbus, OH	2.0	1.0	765	$995	$1.30	21d	1	1.36mi
2707 Woodland Ave Columbus, OH	3.0	1.0	957	$1,400	$1.46	17d	1	1.36mi
2999 E 11th Ave Columbus, OH	2.0	1.0	980	$925	$0.94	7d	1	1.39mi
2999 E 11th Ave Columbus, OH	2.0	1.0	980	$945	$0.96	14d	1	1.39mi
1577 Cordell Ave Columbus, OH	2.0	1.0	882	$1,000	$1.13	2d	1	1.43mi
1905 Stelzer Rd Columbus, OH	1.0–2.0	1.0–2.0	828	$1,635	$1.97	1d	22	1.44mi
918 Rarig Ave Unit A Columbus, OH	2.0	1.0	826	$1,000	$1.21	7d	1	1.45mi
1500 E 25th Ave Columbus, OH	2.0	1.0	720	$850	$1.18	43d	1	1.46mi
1500 E 25th Ave Unit 2 Columbus, OH	2.0	1.0	720	$850	$1.18	23d	1	1.47mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$925	$1.43	43d	1	1.49mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$795	$1.23	1d	1	1.49mi

Listing history 2 events

1. 2026-04-20
   status Pending
2. 2026-04-17
   listed $160,000 Active

ⓘ 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: $2,103 · $175/mo
• Projected year-2 tax: $2,300 · $192/mo
• Expected delta: +$196/yr (+$16/mo · 9.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,868
• − Mortgage interest: −$8,962
• − Property taxes: −$2,103
• − Insurance: −$800
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$4,655
• Taxable loss: −$2,351
• Est. tax savings @ 24.0%: +$564
• After-tax cash flow: $918/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): 32,338
• Household income: $52,094
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 2016.0

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: Majority Black (65%)
• Race & ethnicity: Black 65% White 17% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Swedish 1% Lithuanian 1% Swiss 1%
• Foreign-born: 20% · Canada, India, China
• Languages at home: 76% English-only · Spanish 7% Other Indo-European 3% Chinese 1%

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: ▼ -137.02%
• Current HPI: 172.3872
• Rent YoY: ▼ -0.84%
• 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

2 events — show timeline

• 2026-04-20 Pending — CBRMLS
• 2026-04-17 Listed $160,000 CBRMLS

Property tax history

+10.2%/yr

Latest (2024): $2,103 · +1.3% YoY. Source: county tax records.