2247 Grasmere Ave · Columbus, OH 43211

$120,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 90 Days on market

Built 1947 4,791 sqft lot $167/sqft · 10% below area Est $133k · 10% under

---

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 +18.7/30.0
• ARV discount +12.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL- This charming 720-square-foot single-family home offers two bedrooms and one full bathroom. A full basement provides great potential for additional living space, and off-street parking with a 2 car detached garage, adds everyday convenience.

Key facts

• Off street parking
• Full basement
• Detached garage

Tags

• FULL BASEMENT
• OFF STREET PARKING
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $109k (9.0% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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 rising (+3.4%/yr); 166 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 31% of the median local income ($43k/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 $830 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 90 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $6k; list at $120k implies a 1900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,207 (9.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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: 0.91% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 9.2

CMA / ARV

• ARV (median comp): $133,259
• List price: $120,000
• Delta: -9.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2214 Grasmere Ave	0.06mi	2/1.0	720 (0%)	4mo	$130,000	$181	94
2285 Atwood Ter	0.12mi	2/1.0	720 (0%)	0mo	$136,140	$189	94
2311 Mcguffey Rd	0.17mi	2/1.0	672 (-7%)	3mo	$75,000	$112	79
2352 Hiawatha Park Dr	0.19mi	2/1.0	672 (-7%)	2mo	$98,500	$147	78
2495 Pontiac St	0.42mi	2/1.0	672 (-7%)	4mo	$105,000	$156	66
2487 Azelda St	0.38mi	2/1.0	667 (-7%)	6mo	$82,775	$124	65
926 E 19th Ave	0.57mi	2/1.0	680 (-6%)	0mo	$143,050	$210	64
2544 Azelda St	0.44mi	2/1.0	672 (-7%)	7mo	$153,500	$228	63
2593 Osceola Ave	0.55mi	2/1.0	672 (-7%)	3mo	$155,000	$231	60
2752 Azelda St	0.72mi	2/1.0	792 (+10%)	1mo	$150,000	$189	49
2762 Howey Rd	0.74mi	2/—	777 (+8%)	5mo	$140,000	$180	48
1357 Genessee Ave	0.73mi	2/1.0	656 (-9%)	7mo	$179,500	$274	46

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-11,416
• Equity at exit: $17,892

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,585
• Equity at exit: $10,375

Cash invested: $33,600 (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 43211

• Home prices YoY: -27.3%
• Rents YoY: 3.4%
• Active inventory: 166
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,092 high
• Mortgage (P&I): −$629
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $120

Break-even live

Break-even rent $941

Max offer price $120,000

Occupancy floor 84%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 Grasmere Ave Columbus, OH	2.0	1.5	720	$1,650	$2.29	15d	1	0.04mi
2236 Atwood Ter Columbus, OH	2.0	1.0	720	$900	$1.25	8d	1	0.10mi
2206 McGuffey Rd Columbus, OH	1.0	1.0	576	$770	$1.34	8d	1	0.14mi
2383 Hiawatha Park Dr Unit 2383 Columbus, OH	1.0	1.0	600	$1,100	$1.83	44d	1	0.25mi
1046-1048 Republic Ave Columbus, OH	1.0	1.0	672	$875	$1.30	3d	1	0.38mi
1205 E 23rd Ave Columbus, OH	2.0	1.0	688	$1,050	$1.53	8d	1	0.55mi
1171 E 22nd Ave Unit 1171 Columbus, OH	2.0	1.0	750	$1,100	$1.47	17d	1	0.57mi
2530 Beulah Rd Columbus, OH	2.0	1.0	720	$1,345	$1.87	15d	1	0.62mi
464 E Norwich Ave Unit 474 A Columbus, OH	1.0	1.0	750	$850	$1.13	44d	1	0.74mi
460 E Norwich Ave Unit 460-C Columbus, OH	2.0	1.0	650	$1,025	$1.58	44d	1	0.75mi
450 E Norwich Ave Unit 450-C Columbus, OH	2.0	1.0	650	$995	$1.53	44d	1	0.76mi
1500 E 25th Ave Columbus, OH	2.0	1.0	720	$850	$1.18	44d	1	0.86mi
1500 E 25th Ave Unit 2 Columbus, OH	2.0	1.0	720	$850	$1.18	24d	1	0.86mi
2233 Summit St Unit C Columbus, OH	1.0	1.0	402	$1,225	$3.05	44d	1	0.90mi
1555 Myrtle Ave Columbus, OH	1.0	1.0	455	$600	$1.32	16d	1	0.90mi
1572 E Maynard Ave Unit 1580 Columbus, OH	1.0	1.0	441	$950	$2.15	24d	1	0.90mi
454 E 16th Ave Unit A Columbus, OH	2.0	1.0	655	$1,000	$1.53	44d	1	0.96mi
1900 N 4th St Unit 10 Columbus, OH	1.0	1.0	475	$745	$1.57	44d	1	0.97mi
870 Melrose Ave Columbus, OH	2.0	1.0	732	$1,345	$1.84	8d	1	1.00mi
358 E Duncan St Columbus, OH	1.0	1.0	550	$875	$1.59	44d	1	1.06mi
356 E Duncan St Columbus, OH	1.0	1.0	550	$900	$1.64	11d	1	1.06mi
2485 Deming Ave Unit 6 Columbus, OH	1.0	1.0	497	$900	$1.81	24d	1	1.07mi
1827 N 4th St Columbus, OH	1.0	1.0	660	$875	$1.33	15d	2	1.07mi
1827 N 4th St Unit 8 Columbus, OH	1.0	1.0	660	$900	$1.36	24d	1	1.07mi
2505-2507 Cleveland Ave Unit F Columbus, OH	1.0	1.0	700	$1,100	$1.57	44d	1	1.12mi
348 E 14th Ave Unit E Columbus, OH	1.0	1.0	700	$875	$1.25	16d	1	1.14mi
353 E 13th Ave Columbus, OH	2.0	1.0	700	$900	$1.29	44d	1	1.21mi
353 E 13th Ave Unit 353-2B Columbus, OH	2.0	1.0	700	$930	$1.33	24d	1	1.21mi
353 E 13th Ave Unit 3531-G Columbus, OH	2.0	1.0	700	$930	$1.33	44d	1	1.21mi
2688 Hibbert Ave Columbus, OH	2.0	1.0	748	$1,195	$1.60	44d	1	1.22mi
1734 Summit St Columbus, OH	1.0	1.0	650	$910	$1.40	44d	1	1.25mi
184 E Duncan St Unit 184 Duncan-17 Columbus, OH	2.0	1.0	700	$1,025	$1.46	44d	1	1.27mi
331 Chittenden Ave Columbus, OH	1.0	1.0	750	$800	$1.07	44d	1	1.33mi
329 Chittenden Ave Apt B Columbus, OH	1.0	1.0	750	$800	$1.07	44d	1	1.33mi
2586 East Ave Columbus, OH	1.0	1.0	750	$875	$1.17	44d	1	1.40mi
940 E North Broadway St Columbus, OH	1.0	1.0	650	$795	$1.22	44d	1	1.42mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$925	$1.43	44d	1	1.45mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$795	$1.23	2d	1	1.45mi
2317 Parkwood Ave Columbus, OH	2.0	1.0	672	$995	$1.48	8d	1	1.49mi
944-946 Leona Ave Columbus, OH	2.0	1.0	625	$950	$1.52	3d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $120,000 Active 90 DOM
2. 2026-06-17
   days on market $120,000 Active 89 DOM
3. 2026-06-16
   days on market $120,000 Active 88 DOM
4. 2026-06-15
   days on market $120,000 Active 87 DOM
5. 2026-06-13
   days on market $120,000 Active 85 DOM
6. 2026-06-13
   days on market $120,000 Active 84 DOM
7. 2026-06-09
   days on market $120,000 Active 81 DOM
8. 2026-06-08
   days on market $120,000 Active 80 DOM
9. 2026-06-07
   days on market $120,000 Active 79 DOM
10. 2026-06-05
    days on market $120,000 Active 76 DOM
11. 2026-06-03
    days on market $120,000 Active 75 DOM
12. 2026-06-02
    days on market $120,000 Active 74 DOM
13. 2026-06-01
    days on market $120,000 Active 73 DOM
14. 2026-05-31
    days on market $120,000 Active 72 DOM
15. 2026-03-20
    listed $120,000 Active 259-char remark

    Show marketing remark (259 chars)

    INVESTOR SPECIAL- This charming 720-square-foot single-family home offers two bedrooms and one full bathroom. A full basement provides great potential for additional living space, and off-street parking with a 2 car detached garage, adds everyday convenience.

16. 2025-12-26
    status Pending
17. 2025-12-26
    historical
18. 2025-12-18
    listed $99,000 Active
19. 1989-06-27
    soldstatus $6,000

ⓘ 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: $767 · $64/mo
• Projected year-2 tax: $1,319 · $110/mo
• Expected delta: +$553/yr (+$46/mo · 72.0%)

ⓘ 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 3/10 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: $13,105
• − Mortgage interest: −$6,722
• − Property taxes: −$767
• − Insurance: −$600
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$3,491
• Taxable loss: −$572
• Est. tax savings @ 24.0%: +$137
• After-tax cash flow: $1,572/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): 22,313
• Household income: $42,579
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1282.0

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 0.60)
• Race & ethnicity: Black 58% White 21% Hispanic / Latino 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Italian 1%
• Foreign-born: 10% · Canada, India
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 2% Arabic 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: ▼ -94.10%
• Current HPI: 250.3885
• Rent YoY: ▲ 3.41%
• 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

+1900.0% since first listed

5 events — show timeline

• 2026-03-20 Listed $120,000 CBRMLS
• 2025-12-26 Pending — CBRMLS
• 2025-12-26 Listing Removed — CBRMLS
• 2025-12-18 Listed $99,000 CBRMLS
• 1989-06-27 Sold (Public Records) $6,000 Public Records

Property tax history

+7.3%/yr

Latest (2024): $767 · -10.2% YoY. Source: county tax records.