324 Wrexham Ave · Columbus, OH 43223

$89,900

2 bd · 1.0 ba · 1,047 sqft · SingleFamily public records · 3 Days on market

Built 1923 3,484 sqft lot Est $152k · 41% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

INVESTORS, REHABBERS & LANDLORDS - Prime opportunity between Franklinton and Hilltop, attractively priced for flexibility as a buy and hold or fix and flip. Functional floor plan with spacious living room, dining room, kitchen and mudroom, and 2 large bedrooms and a full bath upstairs. Features include a full basement, original hardwood floors, fireplace, built-ins, large covered front porch, 1-car garage, private driveway and fenced yard. Many major updates in 2018 including new furnace, H2O tank and electric panel. Convenient location close to downtown Columbus, highways and major employers.

Key facts

• Private driveway
• Full basement
• Fireplace

Tags

• FULL BASEMENT
• ORIGINAL HARDWOOD FLOORS
• FIREPLACE
• BUILT-INS
• LARGE COVERED FRONT PORCH
• PRIVATE DRIVEWAY

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Built in 1923; No shared/common walls
• Construction: Block foundation; Built in 1923
• Exterior features: Fenced yard; Block foundation

Interior

• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Wood flooring; Fireplace (1); Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 11.1% 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); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 ($47k/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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1923 — 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. 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.
5. 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.
6. 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: 1.39% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.28%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $151,815
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
258 Wrexham Ave	0.10mi	3/2.0 (+1)	1,068 (+2%)	1mo	$194,000	$182	82
299 Whitethorne Ave	0.18mi	2/1.0	959 (-8%)	2mo	$65,000	$68	76
151 Columbian Ave	0.30mi	3/1.0 (+1)	1,012 (-3%)	2mo	$146,500	$145	74
225 S Highland Ave	0.42mi	2/1.0	1,022 (-2%)	4mo	$167,990	$164	74
334 S Wayne Ave	0.56mi	3/1.0 (+1)	1,057 (+1%)	2mo	$188,500	$178	66
611 Whitethorne Ave	0.44mi	3/1.0 (+1)	1,110 (+6%)	3mo	$110,000	$99	62
1538 Union Ave	0.71mi	3/1.0 (+1)	1,064 (+2%)	0mo	$44,000	$41	59
2188 Amherst Ave	0.43mi	3/1.0 (+1)	1,136 (+8%)	4mo	$165,000	$145	58
436 Catherine St	0.58mi	2/1.0	960 (-8%)	3mo	$65,000	$68	57
550 Helen St	0.61mi	3/1.0 (+1)	1,110 (+6%)	3mo	$169,900	$153	54
446 S Eureka Ave	0.64mi	3/1.0 (+1)	1,144 (+9%)	2mo	$125,000	$109	48
151 S Eureka Ave	0.68mi	3/1.0 (+1)	936 (-11%)	1mo	$80,000	$85	45

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: 10.4%
• Equity multiple: 1.42×
• Total profit: $10,595
• Equity at exit: $13,404

10-year hold

• IRR: 20.8%
• Equity multiple: 2.90×
• Total profit: $47,755
• Equity at exit: $7,773

Cash invested: $25,172 (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: 144
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$471
• Tax from tax record: −$116 /mo · $1,386/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $362

Break-even live

Break-even rent $790

Max offer price $89,900

Occupancy floor 66%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	16d	1	0.15mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	20d	1	0.24mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.24mi
2174 Sullivant Ave Columbus, OH	1.0	1.0	800	$775	$0.97	44d	1	0.26mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	44d	1	0.32mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	44d	1	0.33mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	44d	1	0.35mi
2203 Clarendon Ln Unit 2203 Columbus, OH	2.0	1.0	835	$1,000	$1.20	12d	1	0.36mi
108 Columbian Ave Unit B Columbus, OH	2.0	1.0	820	$900	$1.10	7d	1	0.37mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.38mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	20d	1	0.38mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	15d	1	0.39mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	44d	1	0.44mi
490 Helen St Columbus, OH	2.0	1.0	840	$1,200	$1.43	44d	1	0.55mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.57mi
436 Catherine St Columbus, OH	2.0	1.5	960	$1,300	$1.35	7d	1	0.57mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	44d	1	0.57mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	15d	1	0.58mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.58mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.59mi
1773 W Mound St Unit 1803 Columbus, OH	1.0	1.0	700	$925	$1.32	44d	1	0.60mi
1773 W Mound St Unit 1799 Columbus, OH	1.0	1.0	700	$900	$1.29	44d	1	0.60mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	12d	1	0.61mi
2157 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	44d	1	0.62mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	20d	1	0.62mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	3d	1	0.65mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.66mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	44d	1	0.66mi
2173 W Mound St Unit A Columbus, OH	2.0	1.0	825	$900	$1.09	44d	1	0.67mi
2167 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	44d	1	0.68mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	24d	1	0.74mi
1485 Walsh Ave Columbus, OH	2.0	1.0	720	$1,450	$2.01	24d	1	0.79mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	10d	1	0.79mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	0.79mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	0.83mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	24d	1	0.84mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	24d	1	0.84mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	21d	1	0.84mi
287 S Central Ave Unit 285 Columbus, OH	1.0	1.0	704	$870	$1.24	17d	1	0.86mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	3d	1	0.86mi

Listing history 4 events

1. 2026-06-18
   days on market $89,900 Active 3 DOM
2. 2026-06-17
   days on market $89,900 Active 2 DOM
3. 2026-06-16
   remarks 602-char remark
4. 2026-06-16
   listed $89,900 Active 1 DOM

ⓘ 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: $1,386 · $116/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$8/yr (+$1/mo · 0.6%)

ⓘ 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 ≥100°F today · 17 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,991
• − Mortgage interest: −$5,036
• − Property taxes: −$1,386
• − Insurance: −$450
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$2,615
• Taxable income: $3,105
• Est. tax owed @ 24.0%: −$745
• After-tax cash flow: $3,604/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

1 event — show timeline

• 2026-06-15 Listed $89,900 CBRMLS

Property tax history

+2.9%/yr

Latest (2024): $1,386 · +1.3% YoY. Source: county tax records.