589 Basswood Rd · Columbus, OH 43207

$89,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 49 Days on market

Built 1954 8,276 sqft lot $117/sqft · 49% below area Est $176k · 49% under ↓ 28% since listing

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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 +24.8/30.0
• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• DSCR +8.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own this ranch style home offering 2 bedrooms, 1 full bath and large 2 car detached garage. Home offers loads of potential. AGENTS - See A2A remarks

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1954

Property features AI

Finance

• Other: Property listed as Real Estate Owned

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story; No common walls; Built in 1954
• Construction: Block foundation; Built in 1954
• Exterior features: Block foundation; Lot approximately 0.19 acres

Interior

• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic/porcelain flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Crawl space basement; 768 building area (living space)

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 $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+2.3%/yr); 196 active listings in the ZIP; 12 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).

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.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.46% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 5.7

CMA / ARV

• ARV (median comp): $176,020
• List price: $89,900
• Delta: -48.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 Stockbridge Rd	0.23mi	2/1.0	768 (0%)	14mo	$169,500	$221	77
1101 Rumsey Rd	0.53mi	2/1.0	728 (-5%)	2mo	$89,000	$122	65
3637 S Champion Ave	0.61mi	2/1.0	713 (-7%)	0mo	$210,000	$295	59
3531 Lockbourne Rd	0.73mi	2/1.0	696 (-9%)	2mo	$110,000	$158	49
504 Cedarwood Rd	0.74mi	2/1.0	852 (+11%)	0mo	$80,000	$94	47
1124 Rumsey Rd	0.56mi	3/1.0 (+1)	864 (+12%)	3mo	$185,000	$214	46
3215 V Ave	0.47mi	3/1.0 (+1)	840 (+9%)	16mo	$115,000	$137	44
718 Williams Rd	0.34mi	2/1.0	875 (+14%)	21mo	$170,000	$194	44
337 Colton Rd	0.45mi	3/1.0 (+1)	880 (+15%)	14mo	$169,000	$192	38

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-3,108
• Equity at exit: $13,404

10-year hold

• IRR: 5.6%
• Equity multiple: 1.40×
• Total profit: $10,023
• 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 43207

• Rents YoY: 2.3%
• Active inventory: 196
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$471
• Tax from tax record: −$339 /mo · $4,073/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $191

Break-even live

Break-even rent $1,074

Max offer price $89,900

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

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3011 Markham Rd Unit 3011A Columbus, OH	2.0	1.0	750	$899	$1.20	23d	1	0.68mi
2866 Hillgate Rd Columbus, OH	3.0	1.0	1040	$1,693	$1.63	23d	1	0.71mi
1074 Tobi Dr Columbus, OH	3.0	1.0	1066	$1,495	$1.40	43d	1	0.82mi
2997 S High St Columbus, OH	1.0–4.0	1.0–2.0	1151	$1,319	$1.15	1d	27	0.92mi
3047 Baker Hill Rd Columbus, OH	3.0	1.0	896	$1,300	$1.45	43d	1	0.99mi
3939 Rosland Dr Columbus, OH	2.0–3.0	1.0–1.5	910	$1,099	$1.21	3d	8	1.03mi
257 Benfield Ave Unit NA Columbus, OH	3.0	1.0	1094	$1,400	$1.28	7d	1	1.22mi
60 Obetz Rd Columbus, OH	1.0–2.0	1.0	826	$1,282	$1.55	3d	18	1.30mi
1285 Evergreen Rd Columbus, OH	3.0	2.0	888	$1,750	$1.97	19d	1	1.31mi
54-56 Benfield Ave Unit 56 Columbus, OH	2.0	1.0	800	$925	$1.16	23d	1	1.39mi
1503 Southfield Dr S Columbus, OH	3.0	1.0	900	$1,395	$1.55	7d	1	1.39mi
838 Lock Ave Columbus, OH	3.0	1.0	988	$1,578	$1.60	1d	1	1.43mi

Listing history 18 events

1. 2026-06-18
   days on market $89,900 Active 49 DOM
2. 2026-06-17
   days on market $89,900 Active 48 DOM
3. 2026-06-16
   days on market $89,900 Active 47 DOM
4. 2026-06-15
   days on market $89,900 Active 46 DOM
5. 2026-06-13
   days on market $89,900 Active 44 DOM
6. 2026-06-13
   pricedays on market $89,900 Active 43 DOM
7. 2026-06-09
   days on market $99,900 Active 40 DOM
8. 2026-06-08
   days on market $99,900 Active 39 DOM
9. 2026-06-07
   days on market $99,900 Active 38 DOM
10. 2026-06-05
    days on market $99,900 Active 35 DOM
11. 2026-06-03
    days on market $99,900 Active 34 DOM
12. 2026-06-02
    days on market $99,900 Active 33 DOM
13. 2026-06-01
    days on market $99,900 Active 32 DOM
14. 2026-05-31
    days on market $99,900 Active 31 DOM
15. 2026-04-30
    listed $99,900 Active 169-char remark
16. 2023-11-22
    listed $125,000
17. 2023-11-22
    historical
18. 2023-11-22
    historical

ⓘ 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: $4,073 · $339/mo
• Projected year-2 tax: $4,073 · $339/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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,795
• − Mortgage interest: −$5,036
• − Property taxes: −$4,073
• − Insurance: −$450
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$2,615
• Taxable income: $1,094
• Est. tax owed @ 24.0%: −$262
• After-tax cash flow: $2,035/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): 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

-28.1% since first listed

5 events — show timeline

• 2026-06-10 Price Changed $89,900 CBRMLS
• 2026-04-30 Listed $99,900 CBRMLS
• 2023-11-22 Listing Removed — CBRMLS
• 2023-11-22 Listing Removed — CBRMLS
• 2023-11-22 Listed $125,000 CBRMLS

Property tax history

+13.2%/yr

Latest (2024): $4,073 · +70.3% YoY. Source: county tax records.