915 Old Leonard Ave · Columbus, OH 43203

$150,000

3 bd · 2.0 ba · 1,836 sqft · SingleFamily public records · 110 Days on market

Built 1900 2,613 sqft lot $82/sqft · 46% below area Est $276k · 46% under

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Serious Investors and Flippers . This Is the Value-Add Opportunity You've Been Waiting For! 915 E Old Leonard Ave, Columbus, Ohio 43203 is a single-family home offering 1,836 square feet of prime redevelopment potential in one of Columbus' fastest-appreciating urban corridors. Featuring 4 bedrooms, 1.5 baths, an open floor plan, full basement with egress door (ideal for added finished living space), and a two-car garage, this property will require a complete renovation making it a blank canvas for a strategic full-scale rehab designed to maximize ARV and equity growth. Positioned in the thriving 43203 zip code just minutes from Downtown Columbus, Olde Towne East, and the King-Lincoln Bronzeville district, the home sits directly across from active development with brand-new construction next door -- strong indicators of rising values and neighborhood reinvestment. Columbus continues to lead the Midwest in population growth, infrastructure investment, and housing demand, with significant residential and mixed-use development expanding throughout the Near East Side, driving appreciation and investor activity. For serious buyers seeking a full-rehab single-family project in a high-growth location surrounded by momentum, 915 E Old Leonard Ave presents a rare opportunity to acquire, renovate, and reposition in the direct path of Columbus' continued expansion.

Key facts

• 2,613 sq ft lot
• 2 garage spots
• Built 1900

Tags

• FULL BASEMENT WITH EGRESS DOOR
• BRAND-NEW CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 fast (+5.0%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,075/mo this rent would consume 52% of the median local household income ($48k/yr) (locally 859% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.38% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.96%
• DSCR: 1.67
• GRM: 6.0

CMA / ARV

• ARV (median comp): $276,438
• List price: $150,000
• Delta: -45.74%
• 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
423 Saint Clair Ave	0.17mi	3/2.5	1,903 (+4%)	2mo	$340,000	$179	82
368 Hamilton Ave	0.27mi	3/2.5	1,801 (-2%)	3mo	$382,000	$212	80
369 Saint Clair Ave	0.24mi	3/2.0	1,816 (-1%)	15mo	$329,000	$181	75
294 N 20th St	0.36mi	3/1.5	1,756 (-4%)	3mo	$305,000	$174	72
525 Saint Clair Ave	0.13mi	3/2.5	2,000 (+9%)	15mo	$185,000	$93	65
633 E Starr Ave	0.69mi	3/1.5	1,839 (+0%)	1mo	$355,000	$193	65
235 N 18th St	0.36mi	3/2.5	1,690 (-8%)	4mo	$364,000	$215	64
167 N 22nd St	0.54mi	3/2.0	1,796 (-2%)	11mo	$315,000	$175	62
808 E Starr Ave	0.57mi	3/1.0	1,656 (-10%)	6mo	$150,000	$91	48
650 E 3rd Ave	0.74mi	3/2.0	1,594 (-13%)	4mo	$289,900	$182	40
463 N Champion Ave	0.52mi	4/1.0 (+1)	1,563 (-15%)	2mo	$115,000	$74	40
578 E 2nd Ave	0.73mi	4/3.5 (+1)	1,920 (+5%)	16mo	$675,000	$352	33

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.32×
• Total profit: $13,436
• Equity at exit: $22,365

10-year hold

• IRR: 19.0%
• Equity multiple: 2.75×
• Total profit: $73,452
• Equity at exit: $12,969

Cash invested: $42,000 (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 43203

• Home prices YoY: -31.9%
• Rents YoY: 5.0%
• Active inventory: 94
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,075 high
• Mortgage (P&I): −$787
• Tax from tax record: −$267 /mo · $3,203/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $523

Break-even live

Break-even rent $1,413

Max offer price $150,000

Occupancy floor 70%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
387-393 Saint Clair Ave Unit 387 Saint Clair Columbus, OH	3.0	1.0	2000	$1,325	$0.66	8d	1	0.22mi
263 N Monroe Ave Columbus, OH	4.0	2.0	1616	$2,399	$1.48	44d	1	0.32mi
1214 Atcheson St #1216 Columbus, OH	3.0	1.5	2613	$1,600	$0.61	44d	1	0.42mi
250 N 21st St Columbus, OH	3.0	2.5	1452	$2,600	$1.79	44d	1	0.43mi
820 E Long St Columbus, OH	2.0	1.0–2.0	888	$1,810	$2.04	2d	23	0.50mi
1308-1310 Mount Vernon Ave Unit 1308 Columbus, OH	3.0	2.0	1400	$1,695	$1.21	44d	1	0.58mi
64 N 20th St Columbus, OH	2.0	1.0	1400	$1,495	$1.07	8d	1	0.62mi
65-71 S Douglass St Columbus, OH	2.0	1.0	1585	$1,550	$0.98	17d	1	0.80mi
71 S Douglass St Columbus, OH	2.0	1.0	1585	$1,550	$0.98	16d	1	0.80mi
830 Oak St Columbus, OH	3.0	2.5	1451	$2,500	$1.72	8d	1	0.81mi
844-848 Oak St Unit 848 Columbus, OH	3.0	1.5	1517	$1,700	$1.12	44d	1	0.81mi
830 Oak St Unit 830 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	20d	1	0.81mi
834 Oak St Columbus, OH	3.0	2.5	1400	$2,500	$1.79	8d	1	0.81mi
848 Oak St Columbus, OH	3.0	1.5	1428	$1,700	$1.19	44d	1	0.81mi
834 Oak St Unit 834 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	20d	1	0.81mi
990 N 9th St Unit 990 Columbus, OH	2.0	1.0	1264	$1,345	$1.06	17d	1	0.82mi
60-66 Winner Ave Columbus, OH	2.0	1.0	1500	$1,250	$0.83	17d	1	0.83mi
286 Taylor Ave Unit 1496096P Columbus, OH	3.0	2.5	1894	$7,586	$4.01	2d	1	0.92mi
1096 Oak St Columbus, OH	2.0	2.5	1487	$2,099	$1.41	3d	1	0.92mi
122 Parsons Ave Columbus, OH	3.0	1.0–2.0	1135	$2,550	$2.25	2d	10	0.94mi
367 Auden Ave #311 Columbus, OH	2.0	2.0	1275	$2,950	$2.31	3d	1	0.95mi
173 S 18th St Columbus, OH	3.0	2.5	1884	$2,649	$1.41	24d	1	0.96mi
143 Sherman Ave Unit 301 Columbus, OH	3.0	2.0	1630	$2,450	$1.50	2d	1	1.00mi
315 E Long St Columbus, OH	2.0	1.0–2.0	939	$2,222	$2.37	2d	32	1.00mi
1117-1119 Franklin Ave Columbus, OH	3.0	1.0	1288	$1,525	$1.18	44d	1	1.02mi
366 E Broad St Columbus, OH	1.0–3.0	1.0–2.0	964	$2,350	$2.44	3d	9	1.03mi
283 E 1st Ave Columbus, OH	1.0–2.0	1.0–2.5	1076	$2,867	$2.66	2d	17	1.05mi
1445 E Broad St Columbus, OH	1.0–5.0	1.0–5.0	2164	$2,170	$1.00	2d	4	1.05mi
90 Normandy Ave Unit TH66 Columbus, OH	2.0	2.5	1530	$3,000	$1.96	44d	1	1.07mi
230 E Long St Columbus, OH	2.0	1.0–2.0	913	$2,345	$2.57	2d	21	1.09mi
818 N 4th St Columbus, OH	2.0	2.5	1336	$2,850	$2.13	24d	1	1.10mi
1402 Fair Ave Columbus, OH	3.0	2.5	2563	$2,350	$0.92	16d	1	1.11mi
50 S Grant Ave Columbus, OH	2.0	1.0–2.0	901	$3,581	$3.97	11d	7	1.12mi
965 E Rich St Unit 965 Columbus, OH	3.0	1.0	2184	$1,600	$0.73	24d	1	1.13mi
282-284 S Ohio Ave Columbus, OH	3.0	2.0	1477	$1,699	$1.15	24d	1	1.13mi
1438 Fair Ave Unit 1438 Columbus, OH	3.0	2.5	1800	$2,550	$1.42	2d	1	1.15mi
1620 E Broad St Columbus, OH	2.0	2.0	1214	$2,025	$1.67	3d	2	1.18mi
1620 E Broad St #408 Columbus, OH	2.0	2.0	1247	$2,150	$1.72	24d	1	1.18mi
96 Brickel St Unit 1265642P Columbus, OH	2.0	1.0	1496	$5,074	$3.39	3d	1	1.21mi
98 Brickel St Unit 1265625P Columbus, OH	2.0	1.0	1496	$5,427	$3.63	8d	1	1.21mi

Listing history 16 events

1. 2026-06-18
   days on market $150,000 Active 110 DOM
2. 2026-06-17
   days on market $150,000 Active 109 DOM
3. 2026-06-16
   days on market $150,000 Active 108 DOM
4. 2026-06-15
   days on market $150,000 Active 107 DOM
5. 2026-06-13
   days on market $150,000 Active 105 DOM
6. 2026-06-13
   days on market $150,000 Active 104 DOM
7. 2026-06-09
   days on market $150,000 Active 101 DOM
8. 2026-06-08
   days on market $150,000 Active 100 DOM
9. 2026-06-07
   days on market $150,000 Active 99 DOM
10. 2026-06-05
    days on market $150,000 Active 96 DOM
11. 2026-06-03
    days on market $150,000 Active 95 DOM
12. 2026-06-02
    days on market $150,000 Active 94 DOM
13. 2026-06-01
    days on market $150,000 Active 93 DOM
14. 2026-05-31
    days on market $150,000 Active 92 DOM
15. 2026-02-28
    price $150,000 1376-char remark

    Show marketing remark (1376 chars)

    Serious Investors and Flippers . This Is the Value-Add Opportunity You've Been Waiting For! 915 E Old Leonard Ave, Columbus, Ohio 43203 is a single-family home offering 1,836 square feet of prime redevelopment potential in one of Columbus' fastest-appreciating urban corridors. Featuring 4 bedrooms, 1.5 baths, an open floor plan, full basement with egress door (ideal for added finished living space), and a two-car garage, this property will require a complete renovation making it a blank canvas for a strategic full-scale rehab designed to maximize ARV and equity growth. Positioned in the thriving 43203 zip code just minutes from Downtown Columbus, Olde Towne East, and the King-Lincoln Bronzeville district, the home sits directly across from active development with brand-new construction next door -- strong indicators of rising values and neighborhood reinvestment. Columbus continues to lead the Midwest in population growth, infrastructure investment, and housing demand, with significant residential and mixed-use development expanding throughout the Near East Side, driving appreciation and investor activity. For serious buyers seeking a full-rehab single-family project in a high-growth location surrounded by momentum, 915 E Old Leonard Ave presents a rare opportunity to acquire, renovate, and reposition in the direct path of Columbus' continued expansion.

16. 2026-02-28
    listed $15,000 Active 1376-char remark

    Show marketing remark (1376 chars)

    Serious Investors and Flippers . This Is the Value-Add Opportunity You've Been Waiting For! 915 E Old Leonard Ave, Columbus, Ohio 43203 is a single-family home offering 1,836 square feet of prime redevelopment potential in one of Columbus' fastest-appreciating urban corridors. Featuring 4 bedrooms, 1.5 baths, an open floor plan, full basement with egress door (ideal for added finished living space), and a two-car garage, this property will require a complete renovation making it a blank canvas for a strategic full-scale rehab designed to maximize ARV and equity growth. Positioned in the thriving 43203 zip code just minutes from Downtown Columbus, Olde Towne East, and the King-Lincoln Bronzeville district, the home sits directly across from active development with brand-new construction next door -- strong indicators of rising values and neighborhood reinvestment. Columbus continues to lead the Midwest in population growth, infrastructure investment, and housing demand, with significant residential and mixed-use development expanding throughout the Near East Side, driving appreciation and investor activity. For serious buyers seeking a full-rehab single-family project in a high-growth location surrounded by momentum, 915 E Old Leonard Ave presents a rare opportunity to acquire, renovate, and reposition in the direct path of Columbus' continued expansion.

ⓘ 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: $3,203 · $267/mo
• Projected year-2 tax: $3,203 · $267/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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,903
• − Mortgage interest: −$8,402
• − Property taxes: −$3,203
• − Insurance: −$750
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − Depreciation: −$4,364
• Taxable income: $4,200
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $5,273/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): 8,618
• Household income: $47,572
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 859.0

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 0.56)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Lithuanian 1% Romanian 1% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 86% English-only · Other Indo-European 1% Spanish 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: ▼ -102.09%
• Current HPI: 217.3929
• Rent YoY: ▲ 5.03%
• 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

+900.0% since first listed

2 events — show timeline

• 2026-02-28 Price Changed $150,000 CBRMLS
• 2026-02-28 Listed $15,000 CBRMLS

Property tax history

+14.2%/yr

Latest (2024): $3,203 · +1.3% YoY. Source: county tax records.