3051 Jersey Dr #61 · Columbus, OH 43204

$150,000

3 bd · 1.0 ba · 968 sqft · Condo public records · 31 Days on market

Built 1974 $261/mo HOA · 16% of rent

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Why this score? — see what drove the D 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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Located near Downtown Columbus, local restaurants, parks, shopping, and convenient freeway access, this updated condo offers comfortable living with a functional layout. Upon entry, you're welcomed into an open living area featuring a fireplace and abundant natural light. The layout flows into the dining area and kitchen, where the kitchen offers white cabinetry, and ample storage space. This home features three bedrooms and one full bathroom, providing flexibility for guests, family, or home office needs. Neutral finishes and updated flooring throughout create a clean and inviting feel. Outside, enjoy the private deck--perfect for relaxing or entertaining guests. Conveniently located in a

Key facts

• $261 HOA
• Garage
• Built 1974

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $261; Association phone: [phone]

Exterior

• Parking: Attached garage (1-car)
• Utilities: Public water; Public sewer
• Home design: Condominium; Two levels; One common wall; Built in 1974
• Exterior features: Slab foundation

Interior

• Bathrooms: 1 full bathroom
• Interior features: 968 living area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-5 ($-65/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (0.6% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• 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.
• 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); West High School (math 2% / reading 17%, grade F, #749 of 781 statewide, top 97%, 837 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.5%/yr); 187 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 33% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $150k implies a 275% gain — meaningful room to come down on a strong offer.

Recommended offer $145,500 (3.0% 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 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-21,983
• Equity at exit: $22,365

10-year hold

• IRR: -2.7%
• Equity multiple: 0.80×
• Total profit: $-8,328
• 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 43204

• Rents YoY: 4.5%
• Active inventory: 187
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,633 high
• Mortgage (P&I): −$787
• Tax from tax record: −$186 /mo · $2,228/yr
• Insurance: −$62
• HOA: −$261
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-5

Break-even live

Break-even rent $1,640

Max offer price $149,041

Occupancy floor 95%

Sensitivity live

Price	-10% $79	-5% $37	+0% $-5	+5% $-48	+10% $-90
Rent	-10% $-134	-5% $-70	+0% $-5	+5% $59	+10% $124
Rate	-1.0pp $70	-0.5pp $33	base $-5	+0.5pp $-44	+1.0pp $-84

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 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1303 Lowland Ct Columbus, OH	2.0	1.0	838	$1,400	$1.67	45d	1	0.09mi
2960 Gooden Way Columbus, OH	1.0–3.0	1.0–3.0	1123	$1,430	$1.27	4d	17	0.15mi
2960 Abbots Cove Blvd Columbus, OH	2.0	1.0	875	$1,249	$1.43	45d	6	0.15mi
1450 N Hague Ave Columbus, OH	1.0–3.0	1.0–2.0	1021	$1,980	$1.94	25d	1	0.42mi
3400 Twin Creeks Dr Columbus, OH	1.0–2.0	1.0–1.5	840	$1,480	$1.76	45d	1	0.62mi
1480 Runaway Bay Dr Columbus, OH	1.0–2.0	1.0–2.0	873	$2,293	$2.63	3d	48	0.83mi
3411 Trabue Rd Columbus, OH	1.0–3.0	1.0–2.0	1126	$2,949	$2.62	3d	40	0.84mi
2900 Angelo Joseph Ln Columbus, OH	1.0–2.0	1.0–2.0	915	$1,800	$1.97	3d	18	0.85mi
2550 Quarry Lake Dr Columbus, OH	1.0–3.0	1.0–3.0	1046	$3,102	$2.97	3d	56	0.89mi
3691 Windward Way Columbus, OH	2.0	1.0	850	$1,125	$1.32	45d	1	0.93mi
3255 McKinley Ave Columbus, OH	1.0–2.0	1.0–2.0	1136	$2,440	$2.15	3d	8	0.95mi
1212 Lake Shore Dr Columbus, OH	2.0	2.0	1044	$2,200	$2.11	12d	1	0.96mi
1627 Gilmore Park Ave Columbus, OH	2.0	1.0	1100	$1,250	$1.14	23d	1	1.16mi
1627 Gilmore Park Ave Columbus, OH	2.0	1.0	1100	$1,250	$1.14	25d	1	1.16mi
3953 Deer Lake Way Columbus, OH	3.0	1.0	992	$1,650	$1.66	22d	1	1.16mi
3953 Deer Lake Way Columbus, OH	3.0	1.0	992	$1,650	$1.66	16d	1	1.16mi
1655 Gilmore Park Ave Columbus, OH	2.0	2.0	1100	$1,350	$1.23	45d	1	1.16mi
2157 Quarry Trails Dr Hilliard, OH	1.0–2.0	1.0–2.0	804	$2,438	$3.03	3d	39	1.27mi
1340 Dublin Rd Columbus, OH	1.0–2.0	1.0	696	$1,270	$1.82	4d	16	1.31mi
2211 Dublin Rd Columbus, OH	1.0–2.0	1.0–2.0	830	$1,860	$2.24	3d	13	1.43mi
264-276 N Powell Ave Apt C Columbus, OH	2.0	1.0	750	$975	$1.30	9d	1	1.44mi

HOA detail condo

• Monthly dues: $261 · $3,132/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $150,000 Active 31 DOM
2. 2026-06-18
   days on market $150,000 Active 28 DOM
3. 2026-06-17
   days on market $150,000 Active 27 DOM
4. 2026-06-16
   days on market $150,000 Active 26 DOM
5. 2026-06-15
   days on market $150,000 Active 25 DOM
6. 2026-06-13
   days on market $150,000 Active 23 DOM
7. 2026-06-13
   days on market $150,000 Active 22 DOM
8. 2026-06-09
   days on market $150,000 Active 19 DOM
9. 2026-06-08
   days on market $150,000 Active 18 DOM
10. 2026-06-07
    days on market $150,000 Active 17 DOM
11. 2026-06-05
    days on market $150,000 Active 14 DOM
12. 2026-06-03
    days on market $150,000 Active 13 DOM
13. 2026-06-02
    days on market $150,000 Active 12 DOM
14. 2026-06-01
    days on market $150,000 Active 11 DOM
15. 2026-05-31
    pricedays on market $150,000 Active 10 DOM
16. 2026-05-21
    listed $155,000 Active
17. 2026-05-18
    historical $155,000
18. 1991-02-27
    soldstatus $40,000
19. 1987-07-16
    soldstatus $41,000
20. 1984-12-01
    soldstatus $32,000

ⓘ 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: $2,228 · $186/mo
• Projected year-2 tax: $2,284 · $190/mo
• Expected delta: +$56/yr (+$5/mo · 2.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,601
• − Mortgage interest: −$8,402
• − Property taxes: −$2,228
• − Insurance: −$750
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − HOA: −$3,132
• − Depreciation: −$4,364
• Taxable loss: −$2,412
• Est. tax savings @ 24.0%: +$579
• After-tax cash flow: $514/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

+384.4% since first listed

5 events — show timeline

• 2026-05-21 Listed $155,000 CBRMLS
• 2026-05-18 Coming Soon $155,000 CBRMLS
• 1991-02-27 Sold (Public Records) $40,000 Public Records
• 1987-07-16 Sold (Public Records) $41,000 Public Records
• 1984-12-01 Sold (Public Records) $32,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $2,228 · +1.3% YoY. Source: county tax records.