165 Morse Rd · Columbus, OH 43214

$309,000

3 bd · 2.0 ba · 1,901 sqft · SingleFamily public records · 52 Days on market

Built 1955 4,791 sqft lot $163/sqft · 25% below area Est $410k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.1/30.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 1% rule +3.1/10.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Double Lot * * Compare with 333 Morse, closed in April, less than 800 sqft for $104K! This home boasts nearly 2000 sq. ft, 3 BR, 2 full BA. Hrwd. flrs. thru-out, All new Rosati Windows, updated Bath w/ Bath Fitter, Newer 40 gal H20, Basement waterproofed by Basement Dr. , back-up sump pump, AC new in 2011, HUGE Family room measures 17' x 23', w/ natural wood pine walls, Spacious Living Room measures 11'4'' x 23', generous size BR down, 2 up, fenced yard. Incredible value.

Key facts

• First-floor primary
• Double lot
• New hot water heater

Tags

• DOUBLE LOT
• FIRST-FLOOR PRIMARY
• NEW ROOF
• NEW KITCHEN FLOORING
• NEW HOT WATER HEATER
• NEW SUMP PUMP

Property features AI

Finance

• Other: Additional parcel included (Parcel ID: 010-085254-00)

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1955; No shared/common walls
• Construction: Block foundation
• Exterior features: Patio; Fenced yard

Interior

• Bedrooms: One main-level bedroom
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement; Living area approximately 1,901

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $309k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (18.9% below list).
• Recommended offer: $250k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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.
• 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Dominion Middle School (math 39% / reading 50%, grade D, #477 of 654 statewide, top 74%, 717 students, 0% FRL); Whetstone High School (math 17% / reading 44%, grade F, #615 of 781 statewide, top 79%, 976 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 42% at this address vs 20% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.2%/yr); 45 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 32% of the median local income ($94k/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 $9k 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 52 days — a 3% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $91k; list at $309k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,446 (18.9% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.81% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.51%
• DSCR: 0.89
• GRM: 10.3

CMA / ARV

• ARV (median comp): $410,269
• List price: $309,000
• Delta: -24.68%
• 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
247 E Jeffrey Pl	0.13mi	3/2.0	1,795 (-6%)	7mo	$469,000	$261	79
343 Wetmore Rd	0.36mi	2/1.5 (-1)	1,724 (-9%)	1mo	$410,000	$238	60
460 E Beaumont Rd	0.52mi	3/1.5	1,822 (-4%)	10mo	$370,000	$203	59
475 Garden Rd	0.61mi	3/2.5	1,824 (-4%)	7mo	$710,000	$389	57
4399 Colerain Ave	0.75mi	3/2.5	1,920 (+1%)	8mo	$555,000	$289	55
445 E Jeffrey Pl	0.40mi	3/3.0	1,651 (-13%)	1mo	$445,000	$270	54
253 Fenway Rd	0.72mi	3/2.0	1,804 (-5%)	6mo	$459,900	$255	53
199 Rustic Pl	0.58mi	3/2.5	1,732 (-9%)	8mo	$670,000	$387	49
4994 Delawanda Ave	0.70mi	3/2.0	1,660 (-13%)	5mo	$380,000	$229	42
26 E Schreyer Pl	0.67mi	3/1.5	1,655 (-13%)	7mo	$495,000	$299	39
128 E Kanawha Ave	0.64mi	3/1.5	1,640 (-14%)	10mo	$417,500	$255	37
4711 Scenic Dr	0.71mi	3/2.5	2,157 (+14%)	9mo	$880,000	$408	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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-60,953
• Equity at exit: $46,073

10-year hold

• IRR: -12.7%
• Equity multiple: 0.25×
• Total profit: $-65,222
• Equity at exit: $26,717

Cash invested: $86,520 (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 43214

• Rents YoY: 3.2%
• Active inventory: 45
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$411 /mo · $4,926/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-181

Break-even live

Break-even rent $2,734

Max offer price $276,992

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-94	+0% $-181	+5% $-269	+10% $-356
Rent	-10% $-379	-5% $-280	+0% $-181	+5% $-82	+10% $17
Rate	-1.0pp $-26	-0.5pp $-103	base $-181	+0.5pp $-261	+1.0pp $-343

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 E Jeffrey Pl Columbus, OH	3.0	3.5	1613	$3,200	$1.98	45d	1	0.19mi
387 E Royal Forest Blvd Columbus, OH	2.0	1.0	1300	$2,150	$1.65	5d	1	0.34mi
42-44 Sunnyside Ln Columbus, OH	2.0	1.0	1688	$1,100	$0.65	12d	1	0.58mi
240-246 Broad Meadows Blvd Columbus, OH	3.0	1.0	1225	$1,595	$1.30	19d	1	1.02mi
4441 Sandy Lane Rd Unit NA Columbus, OH	3.0	2.5	1750	$2,350	$1.34	9d	1	1.23mi
4765 Blairfield Dr Columbus, OH	1.0–3.0	1.0–2.5	1427	$2,191	$1.53	3d	75	1.45mi
112 Howard Ave Worthington, OH	3.0	2.0	1447	$2,600	$1.80	23d	1	1.50mi

Listing history 26 events

1. 2026-06-21
   days on market $309,000 Active 52 DOM
2. 2026-06-18
   days on market $309,000 Active 49 DOM
3. 2026-06-17
   days on market $309,000 Active 48 DOM
4. 2026-06-16
   days on market $309,000 Active 47 DOM
5. 2026-06-15
   days on market $309,000 Active 46 DOM
6. 2026-06-13
   days on market $309,000 Active 44 DOM
7. 2026-06-13
   days on market $309,000 Active 43 DOM
8. 2026-06-09
   days on market $309,000 Active 40 DOM
9. 2026-06-08
   days on market $309,000 Active 39 DOM
10. 2026-06-07
    pricedays on market $309,000 Active 38 DOM
11. 2026-06-05
    days on market $329,000 Active 35 DOM
12. 2026-06-03
    days on market $329,000 Active 34 DOM
13. 2026-06-02
    days on market $329,000 Active 33 DOM
14. 2026-06-01
    days on market $329,000 Active 32 DOM
15. 2026-05-31
    days on market $329,000 Active 31 DOM
16. 2026-05-07
    price $329,000 665-char remark
17. 2026-04-30
    listed $339,000 Active 665-char remark
18. 2012-11-02
    soldstatus $91,000
19. 2012-10-26
    soldstatus $91,000 483-char remark

    Show marketing remark (483 chars)

    * * Double Lot * * Compare with 333 Morse, closed in April, less than 800 sqft for $104K! This home boasts nearly 2000 sq. ft, 3 BR, 2 full BA. Hrwd. flrs. thru-out, All new Rosati Windows, updated Bath w/ Bath Fitter, Newer 40 gal H20, Basement waterproofed by Basement Dr. , back-up sump pump, AC new in 2011, HUGE Family room measures 17' x 23', w/ natural wood pine walls, Spacious Living Room measures 11'4'' x 23', generous size BR down, 2 up, fenced yard. Incredible value.

20. 2012-09-24
    historical 483-char remark

    Show marketing remark (483 chars)

    * * Double Lot * * Compare with 333 Morse, closed in April, less than 800 sqft for $104K! This home boasts nearly 2000 sq. ft, 3 BR, 2 full BA. Hrwd. flrs. thru-out, All new Rosati Windows, updated Bath w/ Bath Fitter, Newer 40 gal H20, Basement waterproofed by Basement Dr. , back-up sump pump, AC new in 2011, HUGE Family room measures 17' x 23', w/ natural wood pine walls, Spacious Living Room measures 11'4'' x 23', generous size BR down, 2 up, fenced yard. Incredible value.

21. 2012-08-06
    listed $95,000 483-char remark

    Show marketing remark (483 chars)

    * * Double Lot * * Compare with 333 Morse, closed in April, less than 800 sqft for $104K! This home boasts nearly 2000 sq. ft, 3 BR, 2 full BA. Hrwd. flrs. thru-out, All new Rosati Windows, updated Bath w/ Bath Fitter, Newer 40 gal H20, Basement waterproofed by Basement Dr. , back-up sump pump, AC new in 2011, HUGE Family room measures 17' x 23', w/ natural wood pine walls, Spacious Living Room measures 11'4'' x 23', generous size BR down, 2 up, fenced yard. Incredible value.

22. 2011-08-31
    historical
23. 2011-03-14
    listed $108,000
24. 2010-09-13
    historical
25. 2010-06-12
    listed $128,900
26. 1994-02-15
    soldstatus $40,000

ⓘ 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: $4,926 · $411/mo
• Projected year-2 tax: $4,926 · $411/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 3/10 Moderate 7 d/yr ≥99°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,054
• − Mortgage interest: −$17,309
• − Property taxes: −$4,926
• − Insurance: −$1,545
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − Depreciation: −$8,989
• Taxable loss: −$7,524
• Est. tax savings @ 24.0%: +$1,806
• After-tax cash flow: $-368/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): 26,776
• Household income: $94,183
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1135.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Black 5% Two or more races 4% Asian 3% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Italian 4% Slovak 3%
• Foreign-born: 6% · China, Canada
• Languages at home: 93% English-only · Spanish 2% Chinese 1% French/Haitian/Cajun 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: ▼ -444.23%
• Current HPI: 288.7349
• Rent YoY: ▲ 3.24%
• 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

+672.5% since first listed

12 events — show timeline

• 2026-06-06 Price Changed $309,000 CBRMLS
• 2026-05-07 Price Changed $329,000 CBRMLS
• 2026-04-30 Listed $339,000 CBRMLS
• 2012-11-02 Sold (Public Records) $91,000 Public Records
• 2012-10-26 Sold (MLS) $91,000 CBRMLS
• 2012-09-24 Listing Removed — CBRMLS
• 2012-08-06 Listed $95,000 CBRMLS
• 2011-08-31 Listing Removed — CBRMLS
• 2011-03-14 Listed $108,000 CBRMLS
• 2010-09-13 Listing Removed — CBRMLS
• 2010-06-12 Listed $128,900 CBRMLS
• 1994-02-15 Sold (Public Records) $40,000 Public Records

Property tax history

+6.4%/yr

Latest (2024): $4,926 · +1.3% YoY. Source: county tax records.