309 S Terrace Ave · Columbus, OH 43204

$124,700

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 139 Days on market

Built 1925 4,791 sqft lot $127/sqft · 24% below area Est $164k · 24% 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.2/10.0
• 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

Discover this delightful 2-bedroom, 1-bath home featuring a well-designed layout and abundant natural light throughout. The home boasts a spacious eat-in kitchen with ample cabinetry, perfect for everyday living and entertaining. Both generously sized bedrooms are conveniently located upstairs, offering comfort and privacy. Step outside to a fully fenced yard, ideal for pets, gardening, or relaxing outdoors. Centrally located near dining options, public transportation, and local amenities. This charming property blends comfort with city convenience. A great opportunity for first-time buyers, downsizers, or investors seeking a home with strong potential in an urban setting.

Key facts

• Centrally located
• Eat-in kitchen
• Fully fenced yard

Tags

• EAT-IN KITCHEN
• FULLY FENCED YARD
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $60 ($722/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 $115k (7.6% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $862 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 139 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $13k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $125k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,736 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 0.92% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 9.0

CMA / ARV

• ARV (median comp): $164,233
• List price: $124,700
• Delta: -24.07%
• 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
349 S Richardson Ave	0.09mi	2/1.0	1,004 (+2%)	2mo	$169,900	$169	91
310 S Ogden Ave	0.18mi	3/1.5 (+1)	960 (-2%)	1mo	$200,000	$208	80
151 S Eureka Ave	0.23mi	3/1.0 (+1)	936 (-5%)	1mo	$80,000	$85	75
184 S Ogden Ave	0.25mi	2/1.0	1,051 (+7%)	2mo	$172,000	$164	75
334 S Wayne Ave	0.15mi	3/1.0 (+1)	1,057 (+7%)	2mo	$188,500	$178	74
2845 Fremont St	0.46mi	2/1.0	1,016 (+3%)	2mo	$70,000	$69	71
299 Whitethorne Ave	0.53mi	2/1.0	959 (-2%)	2mo	$65,000	$68	70
686 S Burgess Ave	0.54mi	2/1.0	1,056 (+7%)	1mo	$82,500	$78	62
724 S Ogden Ave	0.62mi	2/1.0	880 (-11%)	1mo	$175,000	$199	53
570 Wiltshire Rd	0.57mi	2/1.0	1,100 (+12%)	2mo	$190,000	$173	52
258 Wrexham Ave	0.71mi	3/2.0 (+1)	1,068 (+8%)	2mo	$194,000	$182	42
815 S Wayne Ave	0.73mi	2/1.5	852 (-13%)	2mo	$180,000	$211	40

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: -11.4%
• Equity multiple: 0.58×
• Total profit: $-14,611
• Equity at exit: $18,593

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-328
• Equity at exit: $10,782

Cash invested: $34,916 (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: 187
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,153 high
• Mortgage (P&I): −$654
• Tax from tax record: −$145 /mo · $1,734/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $60

Break-even live

Break-even rent $1,076

Max offer price $124,700

Occupancy floor 90%

Sensitivity live

Price	-10% $131	-5% $95	+0% $60	+5% $25	+10% $-10
Rent	-10% $-31	-5% $15	+0% $60	+5% $106	+10% $151
Rate	-1.0pp $123	-0.5pp $92	base $60	+0.5pp $28	+1.0pp $-5

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: $31,175
• Closing costs: $3,741
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.15mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	4d	1	0.16mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	20d	1	0.16mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.20mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	8d	1	0.26mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	24d	1	0.31mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	11d	1	0.31mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	24d	1	0.33mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	4d	1	0.36mi
406 1/2 S Hague Ave Columbus, OH	2.0	1.0	918	$765	$0.83	44d	1	0.36mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	20d	1	0.40mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	20d	1	0.40mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	44d	1	0.41mi
390 S Powell Ave Columbus, OH	2.0	1.0	775	$1,025	$1.32	3d	1	0.42mi
396 S Powell Ave Unit 396 Columbus, OH	2.0	1.0	1022	$925	$0.91	44d	1	0.42mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	44d	1	0.44mi
148 S Powell Ave Unit B Columbus, OH	2.0	1.0	900	$1,000	$1.11	8d	1	0.45mi
148 S Powell Ave Columbus, OH	2.0	1.0	900	$1,050	$1.17	44d	1	0.45mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	44d	1	0.47mi
364 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$975	$0.97	44d	1	0.47mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	24d	1	0.50mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	44d	1	0.53mi
2174 Sullivant Ave Columbus, OH	1.0	1.0	800	$775	$0.97	44d	1	0.55mi
87-97 N Burgess Ave Columbus, OH	2.0	1.0	950	$1,250	$1.32	44d	1	0.58mi
87-97 N Burgess Ave Unit 93 Columbus, OH	2.0	1.5	1050	$1,250	$1.19	24d	1	0.58mi
2203 Clarendon Ln Unit 2203 Columbus, OH	2.0	1.0	835	$1,000	$1.20	13d	1	0.59mi
2895 Sullivant Ave Unit 6 Columbus, OH	1.0	1.0	600	$810	$1.35	24d	1	0.61mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	12d	1	0.63mi
685 S Wheatland Ave Columbus, OH	1.0	1.0	640	$850	$1.33	44d	1	0.64mi
486-488 S Huron Ave Unit 488 Columbus, OH	2.0	1.0	1104	$1,150	$1.04	44d	1	0.75mi
174 N Wheatland Ave Columbus, OH	2.0	1.0	917	$1,046	$1.14	3d	3	0.78mi
839-841 S Ogden Ave Columbus, OH	2.0	1.0	727	$1,000	$1.38	2d	1	0.80mi
2735 Sutton Ave Columbus, OH	3.0	1.0	1099	$1,175	$1.07	4d	1	0.81mi
216 N Wheatland Ave Columbus, OH	1.0	1.0	750	$823	$1.10	8d	2	0.83mi
18 N Huron Ave Unit C Columbus, OH	1.0	1.0	1000	$1,050	$1.05	44d	1	0.83mi
331-333 S Westgate Ave Columbus, OH	1.0	1.0	800	$1,150	$1.44	17d	1	0.85mi
261 N Wheatland Ave Columbus, OH	2.0	1.0	796	$1,300	$1.63	24d	1	0.85mi
793 Wiltshire Rd Columbus, OH	2.0	1.0	900	$1,450	$1.61	44d	1	0.86mi
2157 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	44d	1	0.86mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.87mi

Listing history 19 events

1. 2026-03-07
   price $124,700 681-char remark

   Show marketing remark (681 chars)

   Discover this delightful 2-bedroom, 1-bath home featuring a well-designed layout and abundant natural light throughout. The home boasts a spacious eat-in kitchen with ample cabinetry, perfect for everyday living and entertaining. Both generously sized bedrooms are conveniently located upstairs, offering comfort and privacy. Step outside to a fully fenced yard, ideal for pets, gardening, or relaxing outdoors. Centrally located near dining options, public transportation, and local amenities. This charming property blends comfort with city convenience. A great opportunity for first-time buyers, downsizers, or investors seeking a home with strong potential in an urban setting.

2. 2026-01-29
   price $127,500 681-char remark

   Show marketing remark (681 chars)

   Discover this delightful 2-bedroom, 1-bath home featuring a well-designed layout and abundant natural light throughout. The home boasts a spacious eat-in kitchen with ample cabinetry, perfect for everyday living and entertaining. Both generously sized bedrooms are conveniently located upstairs, offering comfort and privacy. Step outside to a fully fenced yard, ideal for pets, gardening, or relaxing outdoors. Centrally located near dining options, public transportation, and local amenities. This charming property blends comfort with city convenience. A great opportunity for first-time buyers, downsizers, or investors seeking a home with strong potential in an urban setting.

3. 2026-01-07
   listed $137,500 Active 681-char remark

   Show marketing remark (681 chars)

   Discover this delightful 2-bedroom, 1-bath home featuring a well-designed layout and abundant natural light throughout. The home boasts a spacious eat-in kitchen with ample cabinetry, perfect for everyday living and entertaining. Both generously sized bedrooms are conveniently located upstairs, offering comfort and privacy. Step outside to a fully fenced yard, ideal for pets, gardening, or relaxing outdoors. Centrally located near dining options, public transportation, and local amenities. This charming property blends comfort with city convenience. A great opportunity for first-time buyers, downsizers, or investors seeking a home with strong potential in an urban setting.

4. 2019-05-22
   soldstatus $40,000 Closed 194-char remark

   Show marketing remark (194 chars)

   Super solid and located on a corner lot! Very nice yard with a 2-car garage. Excellent opportunity for owner or investor. Additional properties could be packaged. Details available upon request.

5. 2019-05-10
   historical Contingent Finance and Inspection 194-char remark

   Show marketing remark (194 chars)

   Super solid and located on a corner lot! Very nice yard with a 2-car garage. Excellent opportunity for owner or investor. Additional properties could be packaged. Details available upon request.

6. 2019-05-07
   listed $34,900 Active 194-char remark

   Show marketing remark (194 chars)

   Super solid and located on a corner lot! Very nice yard with a 2-car garage. Excellent opportunity for owner or investor. Additional properties could be packaged. Details available upon request.

7. 2010-11-27
   historical
8. 2010-06-14
   listed $39,900
9. 2010-04-29
   soldstatus $10,011
10. 2010-04-01
    historical
11. 2010-03-19
    listed $12,500
12. 2005-07-26
    soldstatus $88,888
13. 2005-07-26
    soldstatus $88,900
14. 2005-06-25
    historical
15. 2005-05-19
    listed $88,888
16. 2004-12-16
    soldstatus $39,000
17. 2004-09-14
    historical
18. 2004-09-03
    listed $35,000
19. 1992-06-10
    soldstatus $44,850

ⓘ 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: $1,734 · $145/mo
• Projected year-2 tax: $1,840 · $153/mo
• Expected delta: +$106/yr (+$9/mo · 6.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,832
• − Mortgage interest: −$6,985
• − Property taxes: −$1,734
• − Insurance: −$624
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$3,628
• Taxable loss: −$1,352
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $1,046/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

+178.0% since first listed

19 events — show timeline

• 2026-03-07 Price Changed $124,700 CBRMLS
• 2026-01-29 Price Changed $127,500 CBRMLS
• 2026-01-07 Listed $137,500 CBRMLS
• 2019-05-22 Sold (MLS) $40,000 CBRMLS
• 2019-05-10 Contingent — CBRMLS
• 2019-05-07 Listed $34,900 CBRMLS
• 2010-11-27 Listing Removed — CBRMLS
• 2010-06-14 Listed $39,900 CBRMLS
• 2010-04-29 Sold (MLS) $10,011 CBRMLS
• 2010-04-01 Listing Removed — CBRMLS
• 2010-03-19 Listed $12,500 CBRMLS
• 2005-07-26 Sold (Public Records) $88,900 Public Records
• 2005-07-26 Sold (MLS) $88,888 CBRMLS
• 2005-06-25 Listing Removed — CBRMLS
• 2005-05-19 Listed $88,888 CBRMLS
• 2004-12-16 Sold (MLS) $39,000 CBRMLS
• 2004-09-14 Listing Removed — CBRMLS
• 2004-09-03 Listed $35,000 CBRMLS
• 1992-06-10 Sold (Public Records) $44,850 Public Records

Property tax history

-6.6%/yr

Latest (2024): $1,734 · +1.3% YoY. Source: county tax records.