1920 Marsdale Ave · Columbus, OH 43223

$129,900

2 bd · 1.0 ba · 995 sqft · SingleFamily public records · 37 Days on market

Built 1954 4,791 sqft lot $131/sqft · 35% below area Est $201k · 35% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.6/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom home with a detached garage. Needs work. ''Sold As Is'', Seller to do no repairs.

Key facts

• Easy access to i-71
• Attached garage
• Level lot

Tags

• SINGLE-STORY RESIDENCE
• ATTACHED GARAGE
• LEVEL LOT
• EASY ACCESS TO I-71
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Detached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family home; One story; Built in 1954; Slab foundation
• Construction: Built 1954
• Exterior features: Fenced yard

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Wood flooring; Carpet; Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Approximately 995 total living area; No common walls (detached)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $38 ($452/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 $123k (5.3% below list).
• Recommended offer: $123k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• South-Western City (suburban): math 40% / reading 48% proficiency, ranked #500 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.6%/yr); 147 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 31% of the median local income ($47k/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 $898 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 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $130k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,010 (5.3% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• GRM: 8.8

CMA / ARV

• ARV (median comp): $201,068
• List price: $129,900
• Delta: -35.40%
• 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
1607 Red Leaf Ln	0.16mi	2/1.0	896 (-10%)	5mo	$205,000	$229	72
1985 Marsdale Ave	0.11mi	3/1.0 (+1)	925 (-7%)	14mo	$208,000	$225	66
1799 Eastbrook Dr S	0.13mi	3/1.0 (+1)	1,105 (+11%)	9mo	$192,500	$174	63
1752 Marsdale Ave	0.21mi	3/1.0 (+1)	925 (-7%)	13mo	$195,000	$211	63
1625 Eastfield Dr N	0.40mi	3/1.0 (+1)	925 (-7%)	3mo	$133,000	$144	62
1948 Big Run Bluff Blvd	0.42mi	2/2.0	1,064 (+7%)	5mo	$57,000	$54	61
1601 Eastfield Dr N	0.44mi	2/1.0	925 (-7%)	9mo	$159,000	$172	61
2182 Frank Rd	0.38mi	2/1.0	900 (-10%)	13mo	$237,900	$264	56
1852 Richmond Rd	0.69mi	2/1.0	1,091 (+10%)	0mo	$220,000	$202	51
1999 Bluffstone Ct	0.47mi	3/2.0 (+1)	1,064 (+7%)	8mo	$74,000	$70	51
1398 Gray Meadow Dr	0.50mi	3/2.0 (+1)	1,100 (+11%)	14mo	$260,000	$236	38
1439 Marsdale Ave	0.68mi	3/1.0 (+1)	1,128 (+13%)	12mo	$190,000	$168	31

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.54×
• Total profit: $-16,585
• Equity at exit: $19,369

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,602
• Equity at exit: $11,231

Cash invested: $36,372 (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 43223

• Rents YoY: 4.6%
• Active inventory: 147
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,230 high
• Mortgage (P&I): −$681
• Tax from tax record: −$199 /mo · $2,385/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $38

Break-even live

Break-even rent $1,182

Max offer price $129,900

Occupancy floor 92%

Sensitivity live

Price	-10% $111	-5% $74	+0% $38	+5% $1	+10% $-36
Rent	-10% $-60	-5% $-11	+0% $38	+5% $86	+10% $135
Rate	-1.0pp $103	-0.5pp $71	base $38	+0.5pp $4	+1.0pp $-30

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2210 October Ridge Dr Unit 2224 Columbus, OH	2.0	1.5	950	$1,200	$1.26	25d	1	0.39mi
2210 October Ridge Dr Unit 2232 Columbus, OH	2.0	1.5	950	$1,200	$1.26	4d	1	0.39mi
1231 Woodbrook Ct Columbus, OH	1.0	1.0	718	$925	$1.29	18d	1	0.73mi
2365 Hardy Pkwy Grove City, OH	2.0	1.0–2.0	810	$1,172	$1.45	3d	2	0.98mi
Sandybrook Ct Columbus, OH	2.0	1.0	1028	$1,250	$1.22	45d	1	0.99mi
947 E Forest Creek Dr Columbus, OH	2.0	1.5	950	$1,200	$1.26	45d	2	1.07mi
1475 Stimmel Rd Columbus, OH	1.0–4.0	1.0	868	$1,205	$1.39	17d	1	1.16mi
945 Hodges Dr Columbus, OH	3.0	1.0	1078	$1,640	$1.52	25d	1	1.25mi
2167 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	45d	1	1.27mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	4d	1	1.27mi
2173 W Mound St Unit A Columbus, OH	2.0	1.0	825	$900	$1.09	45d	1	1.29mi
3152 Winding Creek Dr Unit 3152 Columbus, OH	2.0	1.0	964	$1,295	$1.34	45d	1	1.31mi
2157 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	45d	1	1.33mi
2436 Charlemagne St Grove City, OH	2.0	1.0	792	$1,525	$1.93	45d	1	1.40mi
2201 Collier Crst Grove City, OH	1.0–2.0	1.0–2.0	819	$1,432	$1.75	3d	19	1.40mi
1028 S Harris Ave Columbus, OH	3.0	1.0	900	$1,500	$1.67	45d	1	1.42mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	45d	1	1.42mi
685 S Wheatland Ave Columbus, OH	1.0	1.0	640	$850	$1.33	45d	1	1.45mi
839-841 S Ogden Ave Columbus, OH	2.0	1.0	727	$1,000	$1.38	3d	1	1.46mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	13d	1	1.48mi

Listing history 20 events

1. 2026-06-21
   days on market $129,900 Active 37 DOM
2. 2026-06-18
   price $129,900 Active 34 DOM
3. 2026-06-18
   days on market $139,900 Active 34 DOM
4. 2026-06-17
   days on market $139,900 Active 33 DOM
5. 2026-06-16
   days on market $139,900 Active 32 DOM
6. 2026-06-15
   days on market $139,900 Active 31 DOM
7. 2026-06-13
   days on market $139,900 Active 29 DOM
8. 2026-06-09
   days on market $139,900 Active 25 DOM
9. 2026-06-08
   days on market $139,900 Active 24 DOM
10. 2026-06-07
    pricestatusdays on market $139,900 Active 23 DOM
11. 2026-05-14
    status Pending 283-char remark
12. 2026-04-24
    listed $154,900 Active 283-char remark
13. 2019-08-14
    soldstatus $60,000
14. 2019-08-06
    soldstatus $60,000 Closed 91-char remark

    Show marketing remark (91 chars)

    2 bedroom home with a detached garage. Needs work. ''Sold As Is'', Seller to do no repairs.

15. 2019-06-28
    status Pending 91-char remark

    Show marketing remark (91 chars)

    2 bedroom home with a detached garage. Needs work. ''Sold As Is'', Seller to do no repairs.

16. 2019-06-12
    listed $60,000 Active 91-char remark

    Show marketing remark (91 chars)

    2 bedroom home with a detached garage. Needs work. ''Sold As Is'', Seller to do no repairs.

17. 2004-12-16
    historical
18. 2004-09-01
    listed $71,900
19. 1985-12-10
    soldstatus $25,800
20. 1985-12-01
    soldstatus $25,800

ⓘ 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: $2,385 · $199/mo
• Projected year-2 tax: $2,385 · $199/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: $14,761
• − Mortgage interest: −$7,276
• − Property taxes: −$2,385
• − Insurance: −$650
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,779
• Taxable loss: −$1,691
• Est. tax savings @ 24.0%: +$406
• After-tax cash flow: $858/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: South-Western City
• NCES district ID: 3904480
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 48% ▼ -10.00%
• Median HH income: $51,689
• Composite: 37.95/100
• National rank: #4305
• State rank: #500 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

• County: Franklin County · 1,351,780 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 28,187
• Household income: $46,911
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1689.0

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 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5%

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: ▼ -135.33%
• Current HPI: 211.6742
• Rent YoY: ▲ 4.61%
• 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

+403.5% since first listed

13 events — show timeline

• 2026-06-18 Price Changed $129,900 CBRMLS
• 2026-06-05 Price Changed $139,900 CBRMLS
• 2026-06-04 Relisted — CBRMLS
• 2026-05-14 Pending — CBRMLS
• 2026-04-24 Listed $154,900 CBRMLS
• 2019-08-14 Sold (Public Records) $60,000 Public Records
• 2019-08-06 Sold (MLS) $60,000 CBRMLS
• 2019-06-28 Pending — CBRMLS
• 2019-06-12 Listed $60,000 CBRMLS
• 2004-12-16 Listing Removed — CBRMLS
• 2004-09-01 Listed $71,900 CBRMLS
• 1985-12-10 Sold (Public Records) $25,800 Public Records
• 1985-12-01 Sold (Public Records) $25,800 Public Records

Property tax history

+2.9%/yr

Latest (2024): $2,385 · +0.5% YoY. Source: county tax records.