411 Josephine Ave · Columbus, OH 43204

$134,900

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 1 Days on market

Built 1919 0.27 ac lot Est $215k · 37% under

---

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).

• Cash flow +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

2 Story home and detached 1.5 car garage has newer siding and windows. Extra wide and long driveway. Garage has plenty of storage area, new door and attached covered patio area. Large back yard with mature trees. Kitchen has built in corner cabinet & newer flooring. Being sold as is where is. Seller cannot make any repairs.

Key facts

• Extra wide driveway
• Large back yard
• Detached car garage

Tags

• DETACHED CAR GARAGE
• EXTRA WIDE DRIVEWAY
• PLENTY OF STORAGE AREA
• ATTACHED COVERED PATIO
• LARGE BACK YARD
• MATURE TREES

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1919; No shared/common walls
• Construction: Block foundation; Built in 1919
• Exterior features: Patio; Block foundation; Lot about 0.27 acre

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Insulated windows; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 7.8% 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 (+4.5%/yr); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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.
• Current owner paid $65k; list at $135k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.26%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $215,430
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
281 Demorest Rd	0.26mi	3/1.0	1,254 (-3%)	1mo	$250,000	$199	82
145 Demorest Rd	0.42mi	3/1.0	1,228 (-5%)	1mo	$160,000	$130	71
312 S Brinker Ave	0.57mi	3/1.0	1,344 (+4%)	0mo	$224,675	$167	66
328 S Sylvan Ave	0.40mi	3/1.0	1,190 (-8%)	3mo	$250,000	$210	66
66 Demorest Rd	0.54mi	3/1.5	1,352 (+5%)	0mo	$207,000	$153	65
758 Demorest Rd	0.53mi	4/2.0 (+1)	1,332 (+3%)	2mo	$211,000	$158	60
170 S Algonquin Ave	0.60mi	2/1.0 (-1)	1,352 (+5%)	1mo	$260,000	$192	58
188 S Southampton Ave	0.46mi	3/1.5	1,452 (+13%)	2mo	$225,000	$155	54
162 S Southampton Ave	0.48mi	3/1.5	1,454 (+13%)	3mo	$170,000	$117	52
570 S Westgate Ave	0.67mi	3/1.5	1,408 (+9%)	2mo	$216,000	$153	50
181 S Westgate Ave	0.68mi	3/1.0	1,169 (-9%)	4mo	$250,000	$214	50
241 S Brinker Ave	0.58mi	2/1.0 (-1)	1,140 (-12%)	0mo	$250,000	$219	48

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 · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-9,111
• Equity at exit: $20,114

10-year hold

• IRR: 5.0%
• Equity multiple: 1.40×
• Total profit: $14,964
• Equity at exit: $11,664

Cash invested: $37,772 (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 43204

• Rents YoY: 4.5%
• Active inventory: 187
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$707
• Tax from tax record: −$196 /mo · $2,353/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $166

Break-even live

Break-even rent $1,215

Max offer price $134,900

Occupancy floor 83%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Florence Ave Columbus, OH	3.0	1.0	910	$1,625	$1.79	43d	1	0.57mi
775 Maurine Dr Columbus, OH	3.0	1.0	884	$1,525	$1.73	43d	1	0.63mi
881 Kingsford Rd Unit A Columbus, OH	2.0	1.0	895	$900	$1.01	3d	1	0.66mi
486-488 S Huron Ave Unit 488 Columbus, OH	2.0	1.0	1104	$1,150	$1.04	43d	1	0.76mi
2883-2889 Wicklow Rd Columbus, OH	2.0	1.0	1200	$1,099	$0.92	43d	1	0.95mi
179 N Sylvan Ave Unit 179 Columbus, OH	3.0	2.0	1152	$2,000	$1.74	17d	1	0.96mi
1118 Arnelle Ct Columbus, OH	2.0	1.5	975	$1,150	$1.18	43d	1	0.98mi
364 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$975	$0.97	43d	1	0.99mi
1138 McCarley Dr E Columbus, OH	2.0	1.5	975	$1,150	$1.18	43d	1	1.00mi
41-43 N Huron Ave Unit 41 Columbus, OH	3.0	1.0	1176	$1,400	$1.19	7d	1	1.00mi
396 S Powell Ave Unit 396 Columbus, OH	2.0	1.0	1022	$925	$0.91	43d	1	1.05mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	19d	1	1.06mi
793 Wiltshire Rd Columbus, OH	2.0	1.0	900	$1,450	$1.61	43d	1	1.08mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	23d	1	1.12mi
406 1/2 S Hague Ave Columbus, OH	2.0	1.0	918	$765	$0.83	43d	1	1.12mi
3712 Clime Rd Columbus, OH	2.0	1.0	1100	$1,250	$1.14	4d	1	1.12mi
148 S Powell Ave Columbus, OH	2.0	1.0	900	$1,050	$1.17	43d	1	1.13mi
148 S Powell Ave Unit B Columbus, OH	2.0	1.0	900	$1,000	$1.11	7d	1	1.13mi
43 N Chase Ave Columbus, OH	3.0	1.0	1200	$1,400	$1.17	10d	1	1.17mi
4312 Westport Rd Columbus, OH	2.0–3.0	1.5–2.5	1476	$1,499	$1.02	1d	21	1.17mi
43-45 N Chase Ave Unit 43 Columbus, OH	3.0	1.0	1200	$1,400	$1.17	10d	1	1.17mi
1241 Riegelwood Ln Columbus, OH	4.0	3.0	1868	$2,480	$1.33	1d	1	1.18mi
130 N Roys Ave Columbus, OH	3.0	1.0	1380	$1,595	$1.16	1d	1	1.21mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	23d	1	1.22mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	43d	1	1.22mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	2d	1	1.23mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	2d	1	1.23mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	43d	1	1.27mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	7d	1	1.27mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	23d	1	1.27mi
1028 S Harris Ave Columbus, OH	3.0	1.0	900	$1,500	$1.67	43d	1	1.32mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	43d	1	1.33mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	3d	1	1.33mi
1369 Greenock Rd Columbus, OH	4.0	2.5	1680	$2,031	$1.21	23d	1	1.34mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	43d	1	1.35mi
4573 Westport Rd Unit 670-201 Columbus, OH	2.0	1.5	919	$1,226	$1.33	43d	1	1.36mi
4573 Westport Rd Unit 4567-101 Columbus, OH	3.0	1.5	1095	$1,701	$1.55	43d	1	1.36mi
4573 Westport Rd Unit 4507-107 Columbus, OH	3.0	1.5	1095	$1,417	$1.29	12d	1	1.36mi
4573 Westport Rd Unit 670-205 Columbus, OH	2.0	1.5	919	$1,471	$1.60	12d	1	1.36mi
4573 Westport Rd Unit 690-205 Columbus, OH	2.0	1.5	919	$1,471	$1.60	43d	1	1.36mi

Listing history 2 events

1. 2026-06-19
   remarks 327-char remark
2. 2026-06-19
   listed $134,900 Active 1 DOM

ⓘ 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: $2,353 · $196/mo
• Projected year-2 tax: $2,353 · $196/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 ≥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: $17,093
• − Mortgage interest: −$7,556
• − Property taxes: −$2,353
• − Insurance: −$674
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$3,924
• Taxable loss: −$151
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $2,023/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): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2290.0

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 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 13% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 81% English-only · Spanish 13% Arabic 2% 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: ▼ -220.67%
• Current HPI: 265.7711
• Rent YoY: ▲ 4.49%
• 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

+296.8% since first listed

6 events — show timeline

• 2026-06-18 Listed $134,900 CBRMLS
• 2019-04-15 Sold (Public Records) $65,000 Public Records
• 2019-03-19 Sold (Public Records) $46,200 Public Records
• 2011-09-06 Listing Removed — CBRMLS
• 2010-09-09 Listed $60,000 CBRMLS
• 1984-11-01 Sold (Public Records) $34,000 Public Records

Property tax history

+9.2%/yr

Latest (2024): $2,353 · +1.3% YoY. Source: county tax records.