218 Belvidere Ave · Columbus, OH 43223

$125,000

2 bd · 1.0 ba · 1,526 sqft · SingleFamily public records · 25 Days on market

Built 1925 4,356 sqft lot $82/sqft · 32% below area Est $185k · 32% 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity with strong bones and compelling value-add potential. This Cape Cod offers solid fundamentals, including well-maintained HVAC (furnace & A/C) and updated vinyl windows--minimizing upfront costs and allowing focus on cosmetic improvements. Flexible layout with a second-floor bonus bedroom/rec room and a lower level already equipped with full bath fixtures for added living space potential. Corner lot provides extra parking to the detached garage--ideal for tenants or resale. Features include a fully fenced front and rear yard, screened-in front porch, and original charm throughout with a clawfoot tub, skeleton key door knob hardware, and vintage lighting. Ideal for

Key facts

• Bonus bedroom
• Flexible layout
• Well-maintained hvac

Tags

• WELL-MAINTAINED HVAC
• UPDATED VINYL WINDOWS
• FLEXIBLE LAYOUT
• BONUS BEDROOM
• FULL BATH FIXTURES
• CORNER LOT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; No shared/common walls; Built in 1925
• Construction: Block foundation
• Exterior features: Fenced yard; Outbuilding

Interior

• Bedrooms: 2 main-level bedrooms
• Flooring: Wood flooring; Carpet; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Has basement (full)
• Interior features: Insulated windows; Decorative fireplace (one)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 (+4.6%/yr); 147 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 34% of the median local income ($47k/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 $864 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.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 8.74%
• Cash-on-cash: 8.75%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (median comp): $185,112
• List price: $125,000
• Delta: -32.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Belvidere Ave	0.15mi	3/1.0 (+1)	1,494 (-2%)	1mo	$85,000	$57	84
83 Belvidere Ave	0.19mi	3/1.5 (+1)	1,440 (-6%)	2mo	$185,000	$128	73
137 Clarendon Ave	0.26mi	2/1.0	1,395 (-9%)	3mo	$92,000	$66	71
283 Whitethorne Ave	0.14mi	3/1.5 (+1)	1,376 (-10%)	1mo	$170,000	$124	69
1930 Floral Ave	0.26mi	3/1.5 (+1)	1,328 (-13%)	1mo	$220,000	$166	59
1924 Sullivant Ave	0.32mi	3/2.5 (+1)	1,360 (-11%)	2mo	$210,000	$154	54
479 Nashoba Ave	0.41mi	3/1.0 (+1)	1,332 (-13%)	2mo	$119,000	$89	54
543 Hilltonia Ave	0.48mi	3/1.0 (+1)	1,332 (-13%)	2mo	$195,000	$146	49
616 Larcomb Ave	0.71mi	3/1.0 (+1)	1,410 (-8%)	2mo	$103,500	$73	47
2393 Ray St	0.47mi	3/2.0 (+1)	1,315 (-14%)	3mo	$85,000	$65	44
330 S Richardson Ave	0.70mi	3/1.5 (+1)	1,381 (-10%)	2mo	$196,000	$142	43
557 Woodbury Ave	0.59mi	3/1.0 (+1)	1,312 (-14%)	2mo	$199,000	$152	43

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,861
• Equity at exit: $18,638

10-year hold

• IRR: 9.8%
• Equity multiple: 1.81×
• Total profit: $28,413
• Equity at exit: $10,808

Cash invested: $35,000 (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 43223

• Rents YoY: 4.6%
• Active inventory: 147
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,321 high
• Mortgage (P&I): −$656
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $255

Break-even live

Break-even rent $998

Max offer price $125,000

Occupancy floor 76%

Sensitivity live

Price	-10% $326	-5% $290	+0% $255	+5% $220	+10% $184
Rent	-10% $151	-5% $203	+0% $255	+5% $307	+10% $359
Rate	-1.0pp $318	-0.5pp $287	base $255	+0.5pp $223	+1.0pp $190

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	17d	1	0.04mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	21d	1	0.21mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	4d	1	0.21mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	45d	1	0.36mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	18d	1	0.46mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	45d	1	0.50mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	45d	1	0.51mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	4d	1	0.52mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	16d	1	0.57mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	4d	1	0.64mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	25d	1	0.69mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	25d	1	0.69mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	13d	1	0.71mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	16d	1	0.71mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	45d	1	0.72mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	13d	1	0.76mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	12d	1	0.76mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	22d	1	0.83mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	22d	1	0.83mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	45d	1	0.88mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	4d	1	0.88mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	3d	1	0.89mi
87-97 N Burgess Ave Unit 93 Columbus, OH	2.0	1.5	1050	$1,250	$1.19	25d	1	0.89mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	45d	1	0.91mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	45d	1	0.93mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	9d	1	0.94mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	45d	1	0.95mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	45d	1	0.95mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	4d	1	0.98mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	4d	1	0.98mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	25d	1	1.00mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$912	$0.97	16d	12	1.00mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	45d	1	1.04mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	21d	1	1.05mi
800 Harrisburg Pike Unit 2 bedroom townhomes Columbus, OH	2.0	1.0	1250	$995	$0.80	45d	1	1.08mi
802 Harrisburg Pike Columbus, OH	2.0	1.0	1250	$995	$0.80	4d	1	1.09mi
163 N Central Ave Columbus, OH	2.0	2.5	1100	$1,650	$1.50	45d	1	1.09mi
2745-2747 Steele Ave Columbus, OH	3.0	1.0	2128	$1,200	$0.56	45d	1	1.15mi
51 N Princeton Ave Columbus, OH	3.0	1.0	1188	$1,175	$0.99	25d	1	1.16mi
2883-2889 Wicklow Rd Columbus, OH	2.0	1.0	1200	$1,099	$0.92	45d	1	1.17mi

Listing history 1 events

1. 2026-05-01
   listed $125,000 Active 743-char remark

ⓘ 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: $971 · $81/mo
• Projected year-2 tax: $1,460 · $122/mo
• Expected delta: +$490/yr (+$41/mo · 50.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,852
• − Mortgage interest: −$7,002
• − Property taxes: −$971
• − Insurance: −$625
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$3,636
• Taxable income: $1,082
• Est. tax owed @ 24.0%: −$260
• After-tax cash flow: $2,802/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): 28,187
• Household income: $46,911
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1689.0

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 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5%

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: ▼ -135.33%
• Current HPI: 211.6742
• Rent YoY: ▲ 4.61%
• 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

2 events — show timeline

• 2026-05-26 Listing Removed — CBRMLS
• 2026-05-01 Listed $125,000 CBRMLS

Property tax history

+10.2%/yr

Latest (2024): $971 · +2.0% YoY. Source: county tax records.