161 S James Rd

Columbus, OH 43213

$154,900D

3 bd · 1.5 ba · 1,421 sqft · Built 1947 · SingleFamily · Active · 97 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,365/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$390
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $-124/mo
• Annual: $-1,488/yr
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• 1% rule: 0.88%
• Cash to close: $43,372

Investor read

• This is a 3-bed/1.5-bath single-family listed at $155k.
• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (11.9% below list).
• It's been on market 97 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (14.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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.
• Watch-outs: property tax is 2.5% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.3%/yr); 67 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $45k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $155k implies a 121% gain — meaningful room to come down on a strong offer.
• Cap rate 5.3% 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.

Questions for listing agent

• 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?
• It's been on market 97 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?