7603 Wellshire Dr · Columbus, OH 43147

$229,000

2 bd · 1.5 ba · 1,420 sqft · SingleFamily public records · 35 Days on market

Built 1992 1,742 sqft lot Est $328k · 30% under $20/mo HOA · 1% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +3.3/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW DISHWASHER, RANGE, REFRIG STAY. PRIVATE PATIO. NEWER CARPET BEDROOMS. BOTH HAVE CATH CEILINGS WITH PLANT LEDGE. ONE CAR GARAGE. VERY CLEAN. VERY NICE CONDO.

Key facts

• Updated townhome
• Open-concept layout
• Finished lower level

Tags

• UPDATED TOWNHOME
• OPEN-CONCEPT LAYOUT
• WELL-APPOINTED KITCHEN
• STAINLESS STEEL APPLIANCES
• FINISHED LOWER LEVEL
• FLEXIBLE LIVING SPACE

Property features AI

Finance

• HOA & community: Homeowners association with $20 monthly fee

Exterior

• Parking: Attached garage with garage door opener; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Condominium; Two-story; Built in 1992; Multiple shared walls
• Construction: Block foundation
• Exterior features: Patio; Fenced yard

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement; Insulated windows

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-25 ($-301/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (17.6% below list).
• Recommended offer: $189k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Pickerington Local (suburban): math 58% / reading 69% proficiency, ranked #186 of 656 in OH (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.0%/yr); 225 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 475 units permitted in Fairfield County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($127k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Fairfield County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $171k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $188,603 (17.6% 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 35 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.82% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $328,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7520 Princeville Ct	0.26mi	3/2.0 (+1)	1,406 (-1%)	1mo	$330,000	$235	78
2992 Grand Haven Dr	0.30mi	3/1.5 (+1)	1,370 (-4%)	1mo	$316,000	$231	74
3072 Grand Haven Dr	0.36mi	3/2.5 (+1)	1,408 (-1%)	1mo	$300,000	$213	72
7700 Stow Acres Pl	0.25mi	3/1.5 (+1)	1,510 (+6%)	3mo	$300,000	$199	70
7600 Torrey Pines Ct	0.11mi	3/2.0 (+1)	1,574 (+11%)	1mo	$325,000	$206	69
7592 Kittansett Ln	0.29mi	3/2.0 (+1)	1,336 (-6%)	1mo	$287,500	$215	68
3152 Southern Hills Dr	0.56mi	3/3.5 (+1)	1,432 (+1%)	3mo	$240,000	$168	57
3058 Penton St	0.54mi	3/2.5 (+1)	1,490 (+5%)	3mo	$320,000	$215	55
7338 Aplin Dr	0.43mi	3/2.0 (+1)	1,272 (-10%)	1mo	$295,000	$232	55
3079 Alderbrook Dr	0.37mi	3/2.0 (+1)	1,248 (-12%)	1mo	$306,555	$246	54
7394 Harbour Town Dr	0.51mi	3/2.0 (+1)	1,252 (-12%)	1mo	$307,000	$245	48
3209 Bellerive Dr	0.59mi	3/2.0 (+1)	1,568 (+10%)	1mo	$365,000	$233	47

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 · 3.01% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-38,700
• Equity at exit: $34,145

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-35,732
• Equity at exit: $19,800

Cash invested: $64,120 (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 43147

• Rents YoY: 3.0%
• Active inventory: 225
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,886 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$199 /mo · $2,385/yr
• Insurance: −$95
• HOA: −$20
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-25

Break-even live

Break-even rent $1,918

Max offer price $224,568

Occupancy floor 96%

Sensitivity live

Price	-10% $105	-5% $40	+0% $-25	+5% $-90	+10% $-155
Rent	-10% $-174	-5% $-100	+0% $-25	+5% $49	+10% $124
Rate	-1.0pp $90	-0.5pp $33	base $-25	+0.5pp $-84	+1.0pp $-145

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7552 Woodland Trace Dr Reynoldsburg, OH	2.0	1.0	900	$1,494	$1.66	3d	6	0.12mi
3084 Highland Park Dr Pickerington, OH	3.0	1.5	1576	$3,200	$2.03	3d	1	0.39mi
2870 Kengary Way Reynoldsburg, OH	2.0	1.5	987	$1,282	$1.30	3d	23	0.43mi
2800 John Steven Way Reynoldsburg, OH	2.0	1.5	987	$1,368	$1.39	5d	10	0.60mi
7253 Fablegate Ct Reynoldsburg, OH	3.0	2.0	1173	$2,295	$1.96	3d	1	0.89mi
7287 Candlestone Dr Reynoldsburg, OH	3.0	2.5	1224	$2,235	$1.83	45d	1	0.93mi
2067 Creekview Ct Reynoldsburg, OH	1.0–2.0	1.0–1.5	975	$1,419	$1.46	3d	18	1.09mi
2830 Albemarle Dr Reynoldsburg, OH	2.0	2.5	1280	$1,525	$1.19	4d	5	1.11mi
3124 Creighton Pl Reynoldsburg, OH	3.0	1.5	1368	$2,100	$1.54	45d	1	1.13mi
3124 Creighton Pl Reynoldsburg, OH	3.0	1.5	1368	$1,985	$1.45	3d	1	1.13mi
7282 Aracari Dr Pickerington, OH	2.0–3.0	2.0–2.5	1320	$1,257	$0.95	3d	8	1.14mi
1929 Opal St Reynoldsburg, OH	2.0–3.0	2.5	1646	$1,955	$1.19	45d	13	1.24mi
1929 Opal St Reynoldsburg, OH	2.0–3.0	2.5	1646	$1,906	$1.16	3d	18	1.24mi
6592 Steinway Dr Reynoldsburg, OH	1.0–3.0	1.0–2.0	950	$1,195	$1.26	4d	7	1.32mi
435 Fullers Cir Pickerington, OH	2.0	2.5	1567	$1,699	$1.08	45d	1	1.33mi
419 Fullers Cir Pickerington, OH	2.0	2.5	1567	$2,100	$1.34	45d	1	1.34mi
3560 Woody Way Canal Winchester, OH	3.0	2.0	1660	$2,245	$1.35	3d	1	1.36mi
51 Great Trail Cir Pickerington, OH	1.0–3.0	1.0–2.5	1085	$1,740	$1.60	3d	9	1.36mi
2871 Yankee Doodle Dr Reynoldsburg, OH	3.0	1.5	1323	$2,085	$1.58	45d	1	1.37mi
1902 SAWGRASS Dr Franklin, IN	3.0	2.0	1306	$2,050	$1.57	3d	1	1.39mi
2269 Hughey Dr Reynoldsburg, OH	2.0	1.5	1225	$1,175	$0.96	9d	1	1.40mi
3028 Breed Dr Reynoldsburg, OH	3.0	2.5	1546	$2,295	$1.48	3d	1	1.41mi
6560 Benjamin Dr Reynoldsburg, OH	3.0	1.5	1434	$1,895	$1.32	45d	1	1.46mi
2011 Baldwin Rd Reynoldsburg, OH	2.0	1.5	1024	$1,147	$1.12	45d	1	1.47mi

HOA detail

• Monthly dues: $20 · $240/yr

Listing history 23 events

1. 2026-06-21
   days on market $229,000 Active 35 DOM
2. 2026-06-18
   days on market $229,000 Active 32 DOM
3. 2026-06-17
   days on market $229,000 Active 31 DOM
4. 2026-06-16
   statusdays on market $229,000 Active 30 DOM
5. 2026-06-15
   days on market $229,000 Contingent 29 DOM
6. 2026-06-13
   days on market $229,000 Contingent 27 DOM
7. 2026-06-09
   days on market $229,000 Contingent 23 DOM
8. 2026-06-08
   days on market $229,000 Contingent 22 DOM
9. 2026-06-07
   days on market $229,000 Contingent 21 DOM
10. 2026-06-03
    days on market $229,000 Contingent 17 DOM
11. 2026-06-02
    days on market $229,000 Contingent 16 DOM
12. 2026-06-01
    days on market $229,000 Contingent 15 DOM
13. 2026-05-31
    days on market $229,000 Contingent 14 DOM
14. 2026-05-19
    historical Contingent
15. 2026-05-17
    listed $229,000 Active
16. 2023-08-04
    soldstatus $171,000
17. 2004-11-01
    historical
18. 2004-07-20
    listed $99,500
19. 2001-04-03
    soldstatus $85,000
20. 2001-03-30
    soldstatus $85,000 160-char remark

    Show marketing remark (160 chars)

    NEW DISHWASHER, RANGE, REFRIG STAY. PRIVATE PATIO. NEWER CARPET BEDROOMS. BOTH HAVE CATH CEILINGS WITH PLANT LEDGE. ONE CAR GARAGE. VERY CLEAN. VERY NICE CONDO.

21. 2001-03-09
    historical 160-char remark

    Show marketing remark (160 chars)

    NEW DISHWASHER, RANGE, REFRIG STAY. PRIVATE PATIO. NEWER CARPET BEDROOMS. BOTH HAVE CATH CEILINGS WITH PLANT LEDGE. ONE CAR GARAGE. VERY CLEAN. VERY NICE CONDO.

22. 2001-02-07
    listed $88,900 160-char remark

    Show marketing remark (160 chars)

    NEW DISHWASHER, RANGE, REFRIG STAY. PRIVATE PATIO. NEWER CARPET BEDROOMS. BOTH HAVE CATH CEILINGS WITH PLANT LEDGE. ONE CAR GARAGE. VERY CLEAN. VERY NICE CONDO.

23. 1998-07-31
    soldstatus $67,000

ⓘ 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: $2,385 · $199/mo
• Projected year-2 tax: $2,979 · $248/mo
• Expected delta: +$594/yr (+$49/mo · 24.9%)

ⓘ 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: $22,632
• − Mortgage interest: −$12,828
• − Property taxes: −$2,385
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,811
• − Management: −$1,811
• − HOA: −$240
• − Depreciation: −$6,662
• Taxable loss: −$4,248
• Est. tax savings @ 24.0%: +$1,020
• After-tax cash flow: $718/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: Pickerington Local
• NCES district ID: 3904689
• Math proficiency: 58% ▼ -18.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $81,735
• Composite: 56.97/100
• National rank: #1112
• State rank: #186 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: Fairfield County · 109,896 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 46,963
• Household income: $126,534
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 375.0

Population outlook (Fairfield County) Hauer SSP2

• Today (2025): 162,442 people
• By 2030: 166,796 · +2.7%
• By 2040: 172,835 · +6.4%
• By 2050: 174,822 · +7.6%
• By 2075: 174,938 · +7.7%
• By 2100: 160,988 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Two or more races 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada, India, Vietnam
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Fairfield

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.6%
• 2008→2024 swing: -6.9pp toward R · 2008: -17.1pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.5 2016: R+27.0 2012: R+16.1 2008: R+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -221.01%
• Current HPI: 232.8039
• Rent YoY: ▲ 3.01%
• 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

+241.8% since first listed

10 events — show timeline

• 2026-05-19 Contingent — CBRMLS
• 2026-05-17 Listed $229,000 CBRMLS
• 2023-08-04 Sold (Public Records) $171,000 Public Records
• 2004-11-01 Listing Removed — CBRMLS
• 2004-07-20 Listed $99,500 CBRMLS
• 2001-04-03 Sold (Public Records) $85,000 Public Records
• 2001-03-30 Sold (MLS) $85,000 CBRMLS
• 2001-03-09 Listing Removed — CBRMLS
• 2001-02-07 Listed $88,900 CBRMLS
• 1998-07-31 Sold (Public Records) $67,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,385 · +26.7% YoY. Source: county tax records.