333 Chapelfield Rd · Gahanna, OH 43230

$320,000

4 bd · 1.5 ba · 1,554 sqft · SingleFamily public records · 26 Days on market

Built 1972 10,018 sqft lot $206/sqft · at area comps Est $313k · at est.

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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 +17.2/30.0
• ARV discount +6.5/15.0
• Schools +5.6/10.0
• DSCR +5.3/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Directly across the street from Gahanna Middle School-West. 4 Bedroom 2.5 Bathroom Home with a large kitchen and backyard. The house has generous sized bedrooms. The Den could be used as a 5th bedroom, an office, or a play room. Lower level contains Family Room, Laundry and Bedroom and 1.5 baths. Deep Back Lot with covered porch. Newer furnace and AC. Attached Two-Car Garage. Stainless Steel Appliances. Close to highways, Easton, and a direct route to downtown Columbus, yet also minutes to Creekside and a golf course. A new High School and othe massive upgrades are coming to Gahanna. Walking Distance to parks, creeks, and trails Stable, Friendly, neighborhood. .

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1972

Property features AI

Exterior

• Parking: Attached 2-car garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Multi/split levels; Built in 1972; No common walls
• Construction: Slab foundation
• Exterior features: Fenced yard

Interior

• Bathrooms: 2 full bathrooms, 1 half bathroom (2.5 total)
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Wood-burning fireplace (one)

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/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 $309k (3.3% below list).
• Recommended offer: $309k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.7% in Gahanna — 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 75/100 on livability (#241 in OH, #3,854 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Gahanna-Jefferson City (suburban): math 58% / reading 67% proficiency, ranked #202 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.9%/yr); 105 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 41% of the median local income ($91k/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 $2k of loan paydown is wiped out by about $10k 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 26 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $309,323 (3.3% below list)

Questions for the listing agent

1. Built in 1972 — 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. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

• ARV (median comp): $312,704
• List price: $320,000
• Delta: 2.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Haymarket Pl	0.16mi	4/2.0	1,482 (-5%)	0mo	$275,000	$186	82
445 N Stygler Rd	0.29mi	3/1.0 (-1)	1,600 (+3%)	1mo	$290,000	$181	74
355 Baroness Way	0.26mi	4/2.0	1,447 (-7%)	1mo	$360,000	$249	73
475 Denwood Ct	0.48mi	4/2.0	1,484 (-4%)	1mo	$325,000	$219	67
412 Denwood Dr S	0.25mi	3/2.0 (-1)	1,688 (+9%)	1mo	$328,000	$194	66
464 Foxwood Dr	0.34mi	4/2.0	1,688 (+9%)	2mo	$326,000	$193	66
415 Denwood Dr S	0.23mi	3/1.0 (-1)	1,390 (-11%)	2mo	$315,000	$227	63
388 Elkwood Pl	0.48mi	4/2.0	1,654 (+6%)	2mo	$305,000	$184	63
730 Penny Ct	0.75mi	4/1.5	1,500 (-4%)	1mo	$270,000	$180	58
439 Canterwood Ct	0.33mi	3/1.5 (-1)	1,354 (-13%)	2mo	$315,000	$233	56
440 Deerwood Ave E	0.39mi	3/1.5 (-1)	1,356 (-13%)	1mo	$320,000	$236	55
396 Lincolnshire Rd	0.58mi	3/2.0 (-1)	1,385 (-11%)	2mo	$320,000	$231	46

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.61×
• Total profit: $-34,614
• Equity at exit: $47,713

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $276
• Equity at exit: $27,668

Cash invested: $89,600 (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 43230

• Rents YoY: 3.9%
• Active inventory: 105
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,093 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$406 /mo · $4,874/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $226

Break-even live

Break-even rent $2,807

Max offer price $320,000

Occupancy floor 88%

Sensitivity live

Price	-10% $407	-5% $317	+0% $226	+5% $135	+10% $45
Rent	-10% $-18	-5% $104	+0% $226	+5% $348	+10% $470
Rate	-1.0pp $387	-0.5pp $307	base $226	+0.5pp $143	+1.0pp $59

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 Regents Rd Columbus, OH	4.0	1.5	1447	$1,995	$1.38	21d	1	0.37mi
162 W Johnstown Rd Columbus, OH	3.0	1.5	1500	$1,975	$1.32	44d	1	0.61mi
88 Lincolnshire Rd Unit 1407026P Columbus, OH	5.0	2.0	1840	$7,408	$4.03	2d	1	0.68mi
4120 McNery Dr Unit 1496122P Columbus, OH	4.0	3.0	1603	$6,990	$4.36	4d	1	0.87mi
3785 Codet Rd Westerville, OH	1.0–3.0	1.0–2.0	953	$2,080	$2.18	3d	34	1.04mi
3780 Codet Rd Columbus, OH	1.0–3.0	1.0–2.0	953	$2,290	$2.40	3d	25	1.05mi
2591 Venturi House Columbus, OH	1.0–3.0	1.0–2.5	1009	$1,930	$1.91	3d	15	1.29mi
3450 Halpern St Columbus, OH	3.0	2.0	1405	$2,150	$1.53	24d	1	1.39mi

Listing history 18 events

1. 2026-06-21
   days on market $320,000 Active 26 DOM
2. 2026-06-18
   days on market $320,000 Active 23 DOM
3. 2026-06-17
   pricedays on market $320,000 Active 22 DOM
4. 2026-06-16
   days on market $330,000 Active 21 DOM
5. 2026-06-15
   pricedays on market $330,000 Active 20 DOM
6. 2026-06-13
   days on market $339,000 Active 18 DOM
7. 2026-06-09
   days on market $339,000 Active 14 DOM
8. 2026-06-08
   pricedays on market $339,000 Active 13 DOM
9. 2026-06-07
   days on market $350,000 Active 12 DOM
10. 2026-06-03
    days on market $350,000 Active 8 DOM
11. 2026-06-02
    days on market $350,000 Active 7 DOM
12. 2026-06-01
    days on market $350,000 Active 6 DOM
13. 2026-05-31
    days on market $350,000 Active 5 DOM
14. 2026-05-09
    historical
15. 2026-05-08
    listed $350,000 Active
16. 2026-05-05
    historical
17. 2015-11-04
    historical
18. 2015-10-16
    listed $160,000 Active

ⓘ 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: $4,874 · $406/mo
• Projected year-2 tax: $4,933 · $411/mo
• Expected delta: +$59/yr (+$5/mo · 1.2%)

ⓘ 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 ≥98°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,119
• − Mortgage interest: −$17,925
• − Property taxes: −$4,874
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,970
• − Management: −$2,970
• − Depreciation: −$9,309
• Taxable loss: −$2,529
• Est. tax savings @ 24.0%: +$607
• After-tax cash flow: $3,319/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: Gahanna-Jefferson City
• NCES district ID: 3904696
• Math proficiency: 58% ▼ -16.00%
• Reading proficiency: 67% ▼ -11.00%
• Median HH income: $76,350
• Composite: 55.64/100
• National rank: #1229
• State rank: #202 of 656 in OH

Livability — Gahanna

• Score: 75/100
• State rank: #241
• US rank: #3854

Category grades

Amenities F Commute F 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: Gahanna, OH
• County: Franklin County · 1,351,780 people
• City population: 58,076
• Metro: Columbus, OH
• Population (ZIP): 58,076
• Household income: $91,424
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1879.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 19% Two or more races 6% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% 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: ▼ -254.58%
• Current HPI: 257.0667
• Rent YoY: ▲ 3.89%
• 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

+100.0% since first listed

9 events — show timeline

• 2026-06-16 Price Changed $320,000 CBRMLS
• 2026-06-14 Price Changed $330,000 CBRMLS
• 2026-06-08 Price Changed $339,000 CBRMLS
• 2026-05-28 Relisted — CBRMLS
• 2026-05-09 Listing Removed — CBRMLS
• 2026-05-08 Listed $350,000 CBRMLS
• 2026-05-05 Coming Soon $350,000 CBRMLS
• 2015-11-04 Listing Removed — CBRMLS
• 2015-10-16 Listed $160,000 CBRMLS

Property tax history

+3.7%/yr

Latest (2024): $4,874 · +1.3% YoY. Source: county tax records.