3937 Lexmont Rd S · Columbus, OH 43228

$65,000

4 bd · 2.0 ba · 1,134 sqft · SingleFamily public records · 29 Days on market

Built 1964 0.32 ac lot ↓ 2% since listing

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Why this score? — see what drove the D- 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 +11.9/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Home needs extensive work. Cash or rehab loan only. ONLINE AUCTION, the RESERVE (Minimum Bid) is $65,000. The auction ends at 7:00 PM, Thursday, May 21st, 2026. BUYERS MUST SIGN ACKNOWLEDGEMENT OF TERMS to bid. Agents, please see 'A2A'. This 4-bedroom, 2-bath ranch home sits on approximately 0.23± acres. Built in 1964, the home offers approximately 1,134 square feet of living space with one-level living. The lot measures approximately 65' of frontage by 152' in depth. The property includes a full basement and a two-car attached garageProperty is a rare 4 BR/2 Bath ranch. Comparables in the neighborhood in excellent condition sell for $200-$250,000. This property needs extensive

Key facts

• 0.32 acre lot
• Garage
• Built 1964

Property features AI

Finance

• Other: Listing offered via auction and standard listing conditions

Exterior

• Parking: Attached garage (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family home; One story; Built in 1964; No shared/common walls
• Construction: Block foundation; Built in 1964
• Exterior features: Block foundation; Lot about 0.32 acre; Subdivision: Holly Hill

Interior

• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Full basement

🔨 Auction listing. The $65,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $218,333 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $-55 ($-664/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.0% 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 soft (-0.6%/yr); 191 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 35% of the median local income ($62k/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 $2k of loan paydown is wiped out by about $7k 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 29 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1964 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 10.2

CMA / ARV

• ARV (median comp): $218,333
• List price: $65,000
• Delta: -70.23%
• 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
982 Melwood Dr	0.18mi	3/1.5 (-1)	1,136 (+0%)	3mo	$170,000	$150	82
3826 Clime Rd	0.23mi	3/1.0 (-1)	1,086 (-4%)	4mo	$200,000	$184	70
1020 Torrey Hill Dr	0.19mi	3/1.5 (-1)	1,232 (+9%)	1mo	$130,000	$106	69
4466 Amwood St	0.69mi	3/2.0 (-1)	1,140 (+0%)	1mo	$280,000	$246	61
3431 Michael Ct	0.72mi	3/2.0 (-1)	1,104 (-3%)	4mo	$212,000	$192	53
3874 Eakin Rd	0.58mi	3/2.0 (-1)	1,216 (+7%)	5mo	$230,000	$189	52
4146 Sexton Dr	0.62mi	3/1.5 (-1)	1,208 (+6%)	6mo	$175,000	$145	48
4432 Hickory Wood Dr	0.64mi	3/1.5 (-1)	1,224 (+8%)	9mo	$221,750	$181	42
624 Georgian Dr	0.67mi	3/1.5 (-1)	1,025 (-10%)	9mo	$205,000	$200	39
771 Brixham Rd	0.62mi	3/2.0 (-1)	1,300 (+15%)	6mo	$249,900	$192	37
4212 Sexton Dr	0.70mi	3/1.5 (-1)	1,270 (+12%)	6mo	$187,000	$147	36
673 Roth Ave	0.67mi	3/1.0 (-1)	1,279 (+13%)	4mo	$198,000	$155	35

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.28×
• Total profit: $-44,128
• Equity at exit: $32,554

10-year hold

• IRR: -23.9%
• Equity multiple: -0.03×
• Total profit: $-63,159
• Equity at exit: $18,877

Cash invested: $61,133 (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 43228

• Rents YoY: -0.6%
• Active inventory: 191
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$1,145
• Tax from tax record: −$228 /mo · $2,735/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-55

Break-even live

Break-even rent $1,853

Max offer price $208,561

Occupancy floor 98%

Sensitivity live

Price	-10% $68	-5% $6	+0% $-55	+5% $-117	+10% $-179
Rent	-10% $-196	-5% $-126	+0% $-55	+5% $15	+10% $86
Rate	-1.0pp $55	-0.5pp $0	base $-55	+0.5pp $-112	+1.0pp $-169

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: $54,583
• Closing costs: $6,550
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
775 Maurine Dr Columbus, OH	3.0	1.0	884	$1,525	$1.73	45d	1	0.45mi
3735 Gairlock Dr Columbus, OH	3.0	2.0	1329	$1,905	$1.43	25d	1	0.62mi
4510 Switchback Trl Columbus, OH	3.0	2.0	1244	$2,170	$1.74	5d	1	0.88mi
1551 Covina Dr Columbus, OH	3.0	2.0	1218	$2,205	$1.81	3d	1	0.92mi
1433 Tall Meadows Dr Columbus, OH	3.0	1.5	1428	$1,995	$1.40	13d	1	1.09mi
4573 Westport Rd Unit 4507-107 Columbus, OH	3.0	1.5	1095	$1,417	$1.29	13d	1	1.18mi
4573 Westport Rd Unit 4567-101 Columbus, OH	3.0	1.5	1095	$1,701	$1.55	45d	1	1.18mi
4573 Westport Rd Unit 670-106 Columbus, OH	3.0	1.5	1095	$1,417	$1.29	45d	1	1.18mi
1983 Lake Crest Dr Grove City, OH	3.0	2.0	1437	$2,025	$1.41	4d	1	1.27mi
4312 Westport Rd Columbus, OH	2.0–3.0	1.5–2.5	1476	$1,499	$1.02	3d	21	1.28mi
4800 Hall Rd Columbus, OH	1.0–3.0	1.0–2.0	880	$1,289	$1.46	3d	24	1.29mi
1820 Holt Rd Columbus, OH	1.0–3.0	1.0–2.0	1147	$2,088	$1.82	3d	19	1.30mi
859 Eliots Oak Rd Columbus, OH	3.0	1.0	1232	$1,950	$1.58	16d	1	1.49mi
1028 S Harris Ave Columbus, OH	3.0	1.0	900	$1,500	$1.67	45d	1	1.50mi

Listing history 7 events

1. 2026-04-24
   listed $65,000 Active 933-char remark
2. 2010-03-09
   historical
3. 2009-11-02
   listed $119,900
4. 2007-09-07
   historical
5. 2006-09-01
   listed $124,900
6. 1995-06-20
   soldstatus $78,000
7. 1990-11-27
   soldstatus $66,000

ⓘ 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: $2,735 · $228/mo
• Projected year-2 tax: $2,735 · $228/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,395
• − Mortgage interest: −$12,230
• − Property taxes: −$2,735
• − Insurance: −$1,092
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$6,352
• Taxable loss: −$4,436
• Est. tax savings @ 24.0%: +$1,065
• After-tax cash flow: $401/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): 59,077
• Household income: $61,713
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 3284.0

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 0.64)
• Race & ethnicity: White 54% Black 23% Hispanic / Latino 14% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 1% 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: ▼ -245.97%
• Current HPI: 234.1992
• Rent YoY: ▼ -0.63%
• 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

-1.5% since first listed

8 events — show timeline

• 2026-05-23 Pending — CBRMLS
• 2026-04-24 Listed $65,000 CBRMLS
• 2010-03-09 Listing Removed — CBRMLS
• 2009-11-02 Listed $119,900 CBRMLS
• 2007-09-07 Listing Removed — CBRMLS
• 2006-09-01 Listed $124,900 CBRMLS
• 1995-06-20 Sold (Public Records) $78,000 Public Records
• 1990-11-27 Sold (Public Records) $66,000 Public Records

Property tax history

+3.0%/yr

Latest (2024): $2,735 · +1.3% YoY. Source: county tax records.