2047 Bridlewood Blvd #2049 · Obetz, OH 43207

$290,000

4 bd · 0.0 ba · 2,048 sqft · MultiFamily · 57 Days on market

Built 1989 Good condition 8,276 sqft lot $142/sqft · 8% above area Est $269k · 8% over

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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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +5.8/10.0
• Schools +4.2/10.0
• ARV discount +4.0/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Obetz area duplex, 2 bed, 1 bath per side, one car attached garages. Unit 2047 has a long-term tenant, since 2014. Unit 2049 was turned and renovated in 2025. Rents are $975 and $1,395. Tenants pay utilities and handle lawn care. Great location in a developing area with easy access to I270. Available as a stand-alone purchase or with 6 other nearby duplexes. Curb Offers Only - Do Not Disturb Tenants

Key facts

• Renovated in 2025
• Obetz area duplex
• Easy access to i270

Tags

• OBETZ AREA DUPLEX
• RENOVATED IN 2025
• EASY ACCESS TO I270

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive. Per door: $240/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $281k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.6% in Obetz — 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 63/100 on livability (#849 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Hamilton Local (suburban): math 43% / reading 56% proficiency, ranked #445 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 196 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $3,145/mo this rent would consume 60% of the median local household income ($63k/yr) (locally 1679% 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 $2k of loan paydown is wiped out by about $9k 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 57 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $281,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.10%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $268,983
• List price: $290,000
• Delta: 7.81%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-18,484
• Equity at exit: $43,240

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $14,847
• Equity at exit: $25,074

Cash invested: $81,200 (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 43207

• Rents YoY: 2.3%
• Active inventory: 196
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,145 high
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $480

Break-even live

Break-even rent $2,537

Max offer price $290,000

Occupancy floor 80%

Sensitivity live

Price	-10% $681	-5% $581	+0% $480	+5% $380	+10% $280
Rent	-10% $232	-5% $356	+0% $480	+5% $605	+10% $729
Rate	-1.0pp $626	-0.5pp $554	base $480	+0.5pp $405	+1.0pp $329

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,144
Total (2 units)			$3,145

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1680 Hillcrest Ave Obetz, OH	3.0	2.0	1566	$1,725	$1.10	22d	1	0.53mi
1365 Randan Dr Columbus, OH	3.0	2.5	1490	$2,325	$1.56	2d	1	1.08mi
4012 Cailin Dr Columbus, OH	4.0	2.5	1540	$1,900	$1.23	44d	1	1.30mi
1106 Rendezvous Ln Columbus, OH	3.0	2.5	1750	$2,100	$1.20	8d	1	1.38mi
1091 Rendezvous Ln Columbus, OH	3.0	2.5	1452	$1,800	$1.24	44d	1	1.40mi

Listing history 7 events

1. 2026-04-30
   status Active 402-char remark

   Show marketing remark (402 chars)

   Obetz area duplex, 2 bed, 1 bath per side, one car attached garages. Unit 2047 has a long-term tenant, since 2014. Unit 2049 was turned and renovated in 2025. Rents are $975 and $1,395. Tenants pay utilities and handle lawn care. Great location in a developing area with easy access to I270. Available as a stand-alone purchase or with 6 other nearby duplexes. Curb Offers Only - Do Not Disturb Tenants

2. 2026-04-18
   historical Contingent 402-char remark

   Show marketing remark (402 chars)

   Obetz area duplex, 2 bed, 1 bath per side, one car attached garages. Unit 2047 has a long-term tenant, since 2014. Unit 2049 was turned and renovated in 2025. Rents are $975 and $1,395. Tenants pay utilities and handle lawn care. Great location in a developing area with easy access to I270. Available as a stand-alone purchase or with 6 other nearby duplexes. Curb Offers Only - Do Not Disturb Tenants

3. 2026-04-10
   status Active 402-char remark

   Show marketing remark (402 chars)

   Obetz area duplex, 2 bed, 1 bath per side, one car attached garages. Unit 2047 has a long-term tenant, since 2014. Unit 2049 was turned and renovated in 2025. Rents are $975 and $1,395. Tenants pay utilities and handle lawn care. Great location in a developing area with easy access to I270. Available as a stand-alone purchase or with 6 other nearby duplexes. Curb Offers Only - Do Not Disturb Tenants

4. 2026-03-27
   historical Contingent 402-char remark

   Show marketing remark (402 chars)

   Obetz area duplex, 2 bed, 1 bath per side, one car attached garages. Unit 2047 has a long-term tenant, since 2014. Unit 2049 was turned and renovated in 2025. Rents are $975 and $1,395. Tenants pay utilities and handle lawn care. Great location in a developing area with easy access to I270. Available as a stand-alone purchase or with 6 other nearby duplexes. Curb Offers Only - Do Not Disturb Tenants

5. 2026-03-26
   listed $290,000 Active 402-char remark

   Show marketing remark (402 chars)

   Obetz area duplex, 2 bed, 1 bath per side, one car attached garages. Unit 2047 has a long-term tenant, since 2014. Unit 2049 was turned and renovated in 2025. Rents are $975 and $1,395. Tenants pay utilities and handle lawn care. Great location in a developing area with easy access to I270. Available as a stand-alone purchase or with 6 other nearby duplexes. Curb Offers Only - Do Not Disturb Tenants

6. 2025-04-30
   historical $1,395
7. 2025-04-11
   listed $1,395

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

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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,740
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,019
• − Management: −$3,019
• − Depreciation: −$8,436
• Taxable income: $1,221
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $5,472/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with a cosmetic rehab level. It has a well-maintained exterior, hardwood floors, and good paint. The property is located in a developing area with easy access to I270 and has a long-term tenant in one unit. The other unit was recently renovated in 2025. The property is available as a stand-alone purchase or with 6 other nearby duplexes.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Improves drainage and can increase both resale and rental value by making the property look more maintained.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Improves drainage and can increase both resale and rental value by making the property look more maintained. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hamilton Local
• NCES district ID: 3904695
• Math proficiency: 43% ▼ -26.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $48,148
• Composite: 42.14/100
• National rank: #3308
• State rank: #445 of 656 in OH

Livability — Obetz

• Score: 63/100
• State rank: #849
• US rank: #15892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Obetz, OH
• County: Franklin County · 1,351,780 people
• Metro: Columbus, OH
• Population (ZIP): 47,272
• Household income: $63,310
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1679.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -244.33%
• Current HPI: 268.3028
• Rent YoY: ▲ 2.32%
• 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

+20688.5% since first listed

7 events — show timeline

• 2026-04-30 Relisted — CBRMLS
• 2026-04-18 Contingent — CBRMLS
• 2026-04-10 Relisted — CBRMLS
• 2026-03-27 Contingent — CBRMLS
• 2026-03-26 Listed $290,000 CBRMLS
• 2025-04-30 Rental Removed $1,395 COLUMBUSMLS
• 2025-04-11 Listed for Rent $1,395 COLUMBUSMLS