261 N Wayne Ave · Columbus, OH 43204

$124,900

3 bd · 1.5 ba · 1,288 sqft · SingleFamily public records · 89 Days on market

Built 1928 3,484 sqft lot $97/sqft · 30% below area Est $180k · 30% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 261 N. Wayne Ave. Offering 3 bedrooms, 1.5 bath, large living room opening up to dinning room, full basement and 1 car detached garage. Close to parks, schools and Holton Community Center. Agents - Please read A2A remarks

Key facts

• 3,484 sq ft lot
• Garage
• Built 1928

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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 (+4.5%/yr); 188 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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

• It's been on market 89 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1928 — 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: 1.10% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 7.6

CMA / ARV

• ARV (median comp): $179,581
• List price: $124,900
• Delta: -30.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
261 N Wayne Ave	0.00mi	3/1.5	1,288 (0%)	1mo	$118,000	$92	99
54 N Burgess Ave	0.37mi	3/1.0	1,357 (+5%)	2mo	$114,000	$84	70
267 N Hague Ave	0.56mi	3/1.5	1,344 (+4%)	1mo	$214,900	$160	66
2741 Ridge Ave	0.51mi	3/2.0	1,354 (+5%)	1mo	$241,900	$179	65
121 N Terrace Ave	0.28mi	3/2.0	1,447 (+12%)	1mo	$230,000	$159	64
106 S Oakley Ave	0.54mi	2/1.0 (-1)	1,244 (-3%)	2mo	$99,000	$80	61
246 S Terrace Ave	0.74mi	3/1.0	1,232 (-4%)	0mo	$205,000	$166	56
200 N Hague Ave	0.53mi	3/1.0	1,440 (+12%)	0mo	$155,000	$108	53
508 N Harris Ave	0.63mi	3/1.0	1,152 (-11%)	1mo	$145,000	$126	50
229 S Richardson Ave	0.73mi	3/1.0	1,168 (-9%)	1mo	$165,000	$141	47
83 Belvidere Ave	0.70mi	3/1.5	1,440 (+12%)	2mo	$185,000	$128	46
35 S Powell Ave	0.72mi	2/2.0 (-1)	1,152 (-11%)	1mo	$210,000	$182	41

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 · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-8,836
• Equity at exit: $18,623

10-year hold

• IRR: 4.8%
• Equity multiple: 1.38×
• Total profit: $13,346
• Equity at exit: $10,799

Cash invested: $34,972 (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 43204

• Rents YoY: 4.5%
• Active inventory: 188
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,377 high
• Mortgage (P&I): −$655
• Tax from tax record: −$236 /mo · $2,826/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $145

Break-even live

Break-even rent $1,193

Max offer price $124,900

Occupancy floor 84%

Sensitivity live

Price	-10% $216	-5% $180	+0% $145	+5% $110	+10% $74
Rent	-10% $36	-5% $91	+0% $145	+5% $199	+10% $254
Rate	-1.0pp $208	-0.5pp $177	base $145	+0.5pp $113	+1.0pp $80

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
174 N Wheatland Ave Columbus, OH	2.0	1.0	917	$1,046	$1.14	4d	3	0.19mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	13d	1	0.21mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	24d	1	0.34mi
87-97 N Burgess Ave Unit 93 Columbus, OH	2.0	1.5	1050	$1,250	$1.19	24d	1	0.36mi
87-97 N Burgess Ave Columbus, OH	2.0	1.0	950	$1,250	$1.32	44d	1	0.37mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	3d	1	0.43mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	24d	1	0.46mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	24d	1	0.46mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	44d	1	0.46mi
2735 Sutton Ave Columbus, OH	3.0	1.0	1099	$1,175	$1.07	4d	1	0.51mi
2730 Elliott Ave Columbus, OH	3.0	1.0	1332	$1,803	$1.35	44d	1	0.58mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	4d	1	0.63mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	44d	1	0.63mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	21d	1	0.66mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	4d	1	0.66mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	44d	1	0.67mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	24d	1	0.71mi
43-45 N Chase Ave Unit 43 Columbus, OH	3.0	1.0	1200	$1,400	$1.17	11d	1	0.73mi
43 N Chase Ave Columbus, OH	3.0	1.0	1200	$1,400	$1.17	11d	1	0.74mi
130 N Roys Ave Columbus, OH	3.0	1.0	1380	$1,595	$1.16	3d	1	0.74mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	18d	1	0.75mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	24d	1	0.79mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	44d	1	0.81mi
148 S Powell Ave Columbus, OH	2.0	1.0	900	$1,050	$1.17	44d	1	0.82mi
148 S Powell Ave Unit B Columbus, OH	2.0	1.0	900	$1,000	$1.11	8d	1	0.82mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	4d	1	0.86mi
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	17d	1	0.90mi
41-43 N Huron Ave Unit 41 Columbus, OH	3.0	1.0	1176	$1,400	$1.19	8d	1	0.93mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	21d	1	0.96mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	13d	1	0.96mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	21d	1	1.01mi
721 Grandview Crossing Way Columbus, OH	2.0	1.0–2.0	701	$2,068	$2.95	3d	8	1.02mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	8d	1	1.06mi
406 1/2 S Hague Ave Columbus, OH	2.0	1.0	918	$765	$0.83	44d	1	1.08mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	44d	1	1.08mi
364 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$975	$0.97	44d	1	1.10mi
396 S Powell Ave Unit 396 Columbus, OH	2.0	1.0	1022	$925	$0.91	44d	1	1.11mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	24d	1	1.12mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	4d	1	1.14mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	11d	1	1.14mi

Listing history 21 events

1. 2026-05-04
   status Pending 232-char remark

   Show marketing remark (232 chars)

   Welcome to 261 N. Wayne Ave. Offering 3 bedrooms, 1.5 bath, large living room opening up to dinning room, full basement and 1 car detached garage. Close to parks, schools and Holton Community Center. Agents - Please read A2A remarks

2. 2026-04-28
   price $124,900 232-char remark

   Show marketing remark (232 chars)

   Welcome to 261 N. Wayne Ave. Offering 3 bedrooms, 1.5 bath, large living room opening up to dinning room, full basement and 1 car detached garage. Close to parks, schools and Holton Community Center. Agents - Please read A2A remarks

3. 2026-03-23
   price $139,900 232-char remark

   Show marketing remark (232 chars)

   Welcome to 261 N. Wayne Ave. Offering 3 bedrooms, 1.5 bath, large living room opening up to dinning room, full basement and 1 car detached garage. Close to parks, schools and Holton Community Center. Agents - Please read A2A remarks

4. 2026-02-04
   listed $154,900 Active 232-char remark

   Show marketing remark (232 chars)

   Welcome to 261 N. Wayne Ave. Offering 3 bedrooms, 1.5 bath, large living room opening up to dinning room, full basement and 1 car detached garage. Close to parks, schools and Holton Community Center. Agents - Please read A2A remarks

5. 2025-07-07
   historical
6. 2025-05-09
   price $187,000
7. 2025-04-12
   listed $197,999 Active
8. 2021-01-20
   soldstatus $128,900
9. 2021-01-06
   soldstatus $125,500 Closed
10. 2020-10-30
    historical Contingent Finance and Inspection
11. 2020-10-09
    price $132,500
12. 2020-09-23
    status Active
13. 2020-09-11
    historical Contingent Finance and Inspection
14. 2020-09-04
    listed $135,000 Active
15. 2019-05-31
    soldstatus $35,000 Closed
16. 2019-05-09
    status Pending
17. 2019-05-06
    status Active
18. 2019-05-03
    status Pending
19. 2019-04-16
    listed $20,000 Active
20. 1993-08-03
    soldstatus $30,500
21. 1987-12-23
    soldstatus $35,500

ⓘ 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: $2,826 · $236/mo
• Projected year-2 tax: $2,826 · $236/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 (unshaded) · 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 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,521
• − Mortgage interest: −$6,996
• − Property taxes: −$2,826
• − Insurance: −$624
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$3,633
• Taxable loss: −$203
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $1,790/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): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2290.0

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 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 13% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 81% English-only · Spanish 13% Arabic 2% Other Asian/Pacific 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: ▼ -220.67%
• Current HPI: 265.7711
• Rent YoY: ▲ 4.49%
• 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

+251.8% since first listed

21 events — show timeline

• 2026-05-04 Pending — CBRMLS
• 2026-04-28 Price Changed $124,900 CBRMLS
• 2026-03-23 Price Changed $139,900 CBRMLS
• 2026-02-04 Listed $154,900 CBRMLS
• 2025-07-07 Listing Removed — CBRMLS
• 2025-05-09 Price Changed $187,000 CBRMLS
• 2025-04-12 Listed $197,999 CBRMLS
• 2021-01-20 Sold (Public Records) $128,900 Public Records
• 2021-01-06 Sold (MLS) $125,500 CBRMLS
• 2020-10-30 Contingent — CBRMLS
• 2020-10-09 Price Changed $132,500 CBRMLS
• 2020-09-23 Relisted — CBRMLS
• 2020-09-11 Contingent — CBRMLS
• 2020-09-04 Listed $135,000 CBRMLS
• 2019-05-31 Sold (MLS) $35,000 CBRMLS
• 2019-05-09 Pending — CBRMLS
• 2019-05-06 Relisted — CBRMLS
• 2019-05-03 Pending — CBRMLS
• 2019-04-16 Listed $20,000 CBRMLS
• 1993-08-03 Sold (Public Records) $30,500 Public Records
• 1987-12-23 Sold (Public Records) $35,500 Public Records

Property tax history

+7.3%/yr

Latest (2024): $2,826 · -1.4% YoY. Source: county tax records.