381 S Wheatland Ave · Columbus, OH 43204

$60,000

1 bd · 1.0 ba · 678 sqft · SingleFamily public records · 50 Days on market

Built 1910 3,920 sqft lot $88/sqft · 37% below area Est $96k · 37% under

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

Listing remarks MLS

FINE HOME FOR THE PRICE! COULD BE GOOD RENTAL AT $200 PER MONTH. MONEYBACK IN JUST OVER 7 YEARS. GOOD RETURN ON INVESTMENT. EASY TO SHOW.

Key facts

• 3,920 sq ft lot
• Built 1910
• Listed 50 days

Property features AI

Finance

• Other: Standard special listing conditions

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one half levels; No common walls
• Construction: Built in 1910; Slab foundation
• Exterior features: Fenced yard; Lot approximately 0.09 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Living area of 678

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$95,592) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 (+4.5%/yr); 187 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $415 of loan paydown is wiped out by about $2k 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 + 4.5% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $15k; list at $60k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.61% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.99%
• DSCR: 1.84
• GRM: 5.2

CMA / ARV

• ARV (median comp): $95,592
• List price: $60,000
• Delta: -37.23%
• 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
346 S Eureka Ave	0.17mi	1/1.0	600 (-12%)	7mo	$50,000	$83	67
2239 Amherst Ave	0.36mi	2/1.0 (+1)	700 (+3%)	21mo	$106,500	$152	55
2251 Amherst Ave	0.36mi	2/1.0 (+1)	720 (+6%)	16mo	$89,000	$124	55
325 S Burgess Ave	0.39mi	1/1.0	624 (-8%)	18mo	$92,500	$148	54
439 S Warren Ave	0.52mi	2/1.0 (+1)	720 (+6%)	9mo	$157,000	$218	53
648 Whitethorne Ave	0.51mi	2/1.0 (+1)	732 (+8%)	7mo	$80,000	$109	52
911 Clarendon Ave	0.75mi	2/1.0 (+1)	707 (+4%)	2mo	$109,000	$154	52
2268 Whitehead Rd	0.62mi	2/1.0 (+1)	672 (-1%)	17mo	$139,900	$208	51
610 Whitethorne Ave	0.46mi	2/1.0 (+1)	732 (+8%)	14mo	$143,000	$195	49
244 Wrexham Ave	0.50mi	2/1.0 (+1)	748 (+10%)	9mo	$70,000	$94	48
730 S Burgess Ave	0.60mi	2/1.0 (+1)	768 (+13%)	7mo	$167,000	$217	39
296 Lechner Ave	0.51mi	2/1.0 (+1)	588 (-13%)	20mo	$75,000	$128	33

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 · 4.49% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.52×
• Total profit: $8,743
• Equity at exit: $8,946

10-year hold

• IRR: 23.0%
• Equity multiple: 3.14×
• Total profit: $35,893
• Equity at exit: $5,188

Cash invested: $16,800 (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: 5.2×

Monthly cashflow live

• Estimated rent: $965 high
• Mortgage (P&I): −$315
• Tax from tax record: −$157 /mo · $1,887/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $266

Break-even live

Break-even rent $629

Max offer price $60,000

Occupancy floor 67%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Pomola St Columbus, OH	1.0	1.0	500	$1,175	$2.35	3d	1	0.37mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	3d	1	0.38mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	19d	1	0.38mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	11d	1	0.44mi
366 Wrexham Ave #366 Columbus, OH	1.0	1.0	486	$895	$1.84	23d	1	0.47mi
685 S Wheatland Ave Columbus, OH	1.0	1.0	640	$850	$1.33	43d	1	0.47mi
2085 W Broad St Apt 209 Columbus, OH	1.0	1.0	505	$820	$1.62	23d	1	0.61mi
1963 W Broad St Apt 8 Columbus, OH	1.0	1.0	600	$820	$1.37	23d	1	0.73mi
2895 Sullivant Ave Unit 6 Columbus, OH	1.0	1.0	600	$810	$1.35	23d	1	0.81mi
839-841 S Ogden Ave Columbus, OH	2.0	1.0	727	$1,000	$1.38	1d	1	0.83mi
216 N Wheatland Ave Columbus, OH	1.0	1.0	750	$823	$1.10	7d	2	0.84mi
1773 W Mound St Unit 1799 Columbus, OH	1.0	1.0	700	$900	$1.29	43d	1	0.97mi
1773 W Mound St Unit 1803 Columbus, OH	1.0	1.0	700	$925	$1.32	43d	1	0.97mi
264-276 N Powell Ave Apt C Columbus, OH	2.0	1.0	750	$975	$1.30	7d	1	1.17mi
1231 Woodbrook Ct Columbus, OH	1.0	1.0	718	$925	$1.29	17d	1	1.26mi
1485 Walsh Ave Columbus, OH	2.0	1.0	720	$1,450	$2.01	23d	1	1.26mi
810 Harrisburg Pike Columbus, OH	—	1.0	480	$795	$1.66	23d	1	1.31mi
800 Harrisburg Pike Columbus, OH	—	1.0	480	$795	$1.66	43d	1	1.32mi
802 Harrisburg Pike Columbus, OH	—	1.0	500	$795	$1.59	43d	1	1.32mi
65 N Brinker Ave Columbus, OH	1.0	1.0	750	$975	$1.30	43d	1	1.33mi
287 S Central Ave Unit 285 Columbus, OH	1.0	1.0	704	$870	$1.24	17d	1	1.34mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$530	$0.56	14d	12	1.42mi
1045 Binns Blvd Unit A Columbus, OH	2.0	1.0	731	$905	$1.24	23d	1	1.43mi
160 N Sylvan Ave Unit 3 Columbus, OH	1.0	1.0	442	$795	$1.80	7d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   days on market $60,000 Active 50 DOM
2. 2026-06-17
   days on market $60,000 Active 49 DOM
3. 2026-06-16
   days on market $60,000 Active 48 DOM
4. 2026-06-15
   days on market $60,000 Active 47 DOM
5. 2026-06-13
   days on market $60,000 Active 45 DOM
6. 2026-06-13
   days on market $60,000 Active 44 DOM
7. 2026-06-09
   days on market $60,000 Active 41 DOM
8. 2026-06-08
   days on market $60,000 Active 40 DOM
9. 2026-06-07
   days on market $60,000 Active 39 DOM
10. 2026-06-05
    days on market $60,000 Active 36 DOM
11. 2026-06-03
    days on market $60,000 Active 35 DOM
12. 2026-06-02
    days on market $60,000 Active 34 DOM
13. 2026-06-01
    days on market $60,000 Active 33 DOM
14. 2026-05-31
    days on market $60,000 Active 32 DOM
15. 2026-04-29
    listed $60,000 Active 72-char remark
16. 2000-04-20
    soldstatus $15,000 137-char remark

    Show marketing remark (137 chars)

    FINE HOME FOR THE PRICE! COULD BE GOOD RENTAL AT $200 PER MONTH. MONEYBACK IN JUST OVER 7 YEARS. GOOD RETURN ON INVESTMENT. EASY TO SHOW.

17. 2000-04-10
    historical 137-char remark

    Show marketing remark (137 chars)

    FINE HOME FOR THE PRICE! COULD BE GOOD RENTAL AT $200 PER MONTH. MONEYBACK IN JUST OVER 7 YEARS. GOOD RETURN ON INVESTMENT. EASY TO SHOW.

18. 2000-02-10
    listed $17,250 137-char remark

    Show marketing remark (137 chars)

    FINE HOME FOR THE PRICE! COULD BE GOOD RENTAL AT $200 PER MONTH. MONEYBACK IN JUST OVER 7 YEARS. GOOD RETURN ON INVESTMENT. EASY TO SHOW.

19. 1999-12-29
    historical
20. 1999-08-11
    listed $17,499

ⓘ 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: $1,887 · $157/mo
• Projected year-2 tax: $1,887 · $157/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,586
• − Mortgage interest: −$3,361
• − Property taxes: −$1,887
• − Insurance: −$300
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$1,745
• Taxable income: $2,439
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $2,605/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

+242.9% since first listed

6 events — show timeline

• 2026-04-29 Listed $60,000 CBRMLS
• 2000-04-20 Sold (MLS) $15,000 CBRMLS
• 2000-04-10 Listing Removed — CBRMLS
• 2000-02-10 Listed $17,250 CBRMLS
• 1999-12-29 Listing Removed — CBRMLS
• 1999-08-11 Listed $17,499 CBRMLS

Property tax history

+16.9%/yr

Latest (2024): $1,887 · +14.6% YoY. Source: county tax records.