3916 Richard Ave · Grove City, OH 43123

$224,999

4 bd · 2.0 ba · 1,720 sqft · SingleFamily public records · 13 Days on market

Built 1955 6,969 sqft lot Est $327k · 31% 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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL IN GROVE CITY! Rare opportunity to finish a project that's already well underway. Building permits have already been pulled. Excellent opportunity for a fix-and-flip, BRRRR strategy, or long-term rental investment. Strong after-repair value potential in an established Grove City location with convenient access to shopping, dining, schools, and major highways. Sold AS-IS. Cash, hard money, or private money only.

Key facts

• Convenient access
• Grove city location
• 6,969 sq ft lot

Tags

• GROVE CITY LOCATION
• CONVENIENT ACCESS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1955; No shared/common walls
• Construction: Slab foundation
• Exterior features: Lot approximately 0.16 acre

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: Two full bathrooms
• Interior features: Living area approximately 1,720

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/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 $220k (2.2% below list).
• Recommended offer: $220k (2.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.7% in Grove City — 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 77/100 on livability (#190 in OH, #2,911 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, cost of living A+; Watch: commute D, amenities F, health & safety 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 (+3.7%/yr); 329 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $190k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $220,011 (2.2% below list)

Questions for the listing agent

1. Built in 1955 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.98% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.88%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $326,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3126 Thomas Ave	0.49mi	4/2.0	1,701 (-1%)	2mo	$323,000	$190	74
3861 Tamara Dr	0.31mi	4/2.5	1,800 (+5%)	3mo	$205,000	$114	74
3741 Christopher Pl	0.35mi	4/1.5	1,856 (+8%)	1mo	$345,000	$186	68
2980 Barbee Ave	0.36mi	4/1.5	1,560 (-9%)	1mo	$335,000	$215	65
4241 Ashgrove Dr	0.45mi	3/2.0 (-1)	1,800 (+5%)	2mo	$298,000	$166	65
3958 La Rosa Ct	0.15mi	3/2.0 (-1)	1,944 (+13%)	2mo	$300,000	$154	64
3933 Glenna Ave	0.45mi	3/2.0 (-1)	1,600 (-7%)	0mo	$305,000	$191	62
2723 Yates Ave	0.74mi	3/2.0 (-1)	1,703 (-1%)	3mo	$340,000	$200	56
2711 Suann Ave	0.64mi	3/1.5 (-1)	1,676 (-3%)	4mo	$320,000	$191	55
3060 Sawyer Dr	0.37mi	3/2.0 (-1)	1,464 (-15%)	6mo	$340,000	$232	48
3474 Independence St	0.71mi	4/2.5	1,891 (+10%)	3mo	$356,000	$188	46
3139 Kingswood Dr	0.72mi	3/1.5 (-1)	1,540 (-10%)	2mo	$290,000	$188	40

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-21,959
• Equity at exit: $33,548

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $3,961
• Equity at exit: $19,454

Cash invested: $63,000 (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 43123

• Rents YoY: 3.7%
• Active inventory: 329
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,200 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$261 /mo · $3,130/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $204

Break-even live

Break-even rent $1,942

Max offer price $224,999

Occupancy floor 86%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 Irwin Ave Grove City, OH	3.0	2.0	1777	$2,047	$1.15	23d	1	0.09mi
2906 Woodgrove Dr Grove City, OH	4.0	2.0	1582	$2,200	$1.39	43d	1	0.68mi
2906 Woodgrove Dr Grove City, OH	4.0	2.0	1582	$2,200	$1.39	14d	1	0.68mi
3451 Kells Way Grove City, OH	1.0–3.0	1.0–2.5	1144	$3,101	$2.71	1d	22	0.72mi
3986 Parkmead Dr Grove City, OH	1.0–3.0	1.0–2.0	954	$2,150	$2.25	11d	9	0.93mi
3501 Woodlawn Ave Grove City, OH	4.0	1.5	1500	$2,175	$1.45	23d	1	0.95mi
4270 Broadway Grove City, OH	3.0	3.0	1610	$2,250	$1.40	43d	1	0.99mi
4243 Farr Ct Grove City, OH	2.0–3.0	1.0	935	$1,599	$1.71	12d	13	1.08mi
2422 Salem Ave Grove City, OH	4.0	1.5	1910	$2,555	$1.34	1d	1	1.11mi
3103 Charles Dr Grove City, OH	3.0	1.0	1135	$1,700	$1.50	23d	1	1.16mi

Listing history 9 events

1. 2026-06-18
   days on market $224,999 Active 13 DOM
2. 2026-06-17
   days on market $224,999 Active 12 DOM
3. 2026-06-16
   days on market $224,999 Active 11 DOM
4. 2026-06-15
   days on market $224,999 Active 10 DOM
5. 2026-06-13
   days on market $224,999 Active 8 DOM
6. 2026-06-09
   days on market $224,999 Active 4 DOM
7. 2026-06-08
   days on market $224,999 Active 3 DOM
8. 2026-06-07
   remarks 431-char remark
9. 2026-06-07
   listed $224,999 Active 2 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: $3,130 · $261/mo
• Projected year-2 tax: $3,320 · $277/mo
• Expected delta: +$190/yr (+$16/mo · 6.1%)

ⓘ 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 ≥101°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: $26,401
• − Mortgage interest: −$12,603
• − Property taxes: −$3,130
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$6,545
• Taxable loss: −$1,227
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $2,737/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 — Grove City

• Score: 77/100
• State rank: #190
• US rank: #2911

Category grades

Amenities F Commute D Cost of living A+ Crime B- Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grove City, OH
• County: Franklin County · 1,351,780 people
• City population: 67,626
• Metro: Columbus, OH
• Population (ZIP): 67,626
• Household income: $91,008
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 1087.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 6% Hispanic / Latino 5% Black 5% Asian 2%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -241.42%
• Current HPI: 238.709
• Rent YoY: ▲ 3.68%
• 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

+435.7% since first listed

4 events — show timeline

• 2026-06-05 Listed $224,999 CBRMLS
• 2025-05-02 Sold (MLS) $190,000 CBRMLS
• 2025-04-30 Listed $200,000 CBRMLS
• 1995-04-03 Sold (Public Records) $42,000 Public Records

Property tax history

+2.3%/yr

Latest (2024): $3,130 · +0.3% YoY. Source: county tax records.