818 Thomas Ave · Columbus, OH 43223

$145,000

2 bd · 1.0 ba · 676 sqft · SingleFamily public records · 34 Days on market

Built 1925 3,920 sqft lot Est $133k · 9% over

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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).

• Cash flow +22.2/30.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• ARV discount +3.5/15.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Why rent when you can buy? Owner or investor opportunity with instant income potential! This charming 2-bedroom, 1-bath home is tenant occupied with strong, reliable tenants already in place, making it a perfect cash-flowing property from day one. Conveniently and centrally located, this adorable home features an open-concept layout that creates a bright and welcoming feel throughout. Whether you're looking to expand your investment portfolio or purchase your first property, this low-maintenance home. Property being sold as is

Key facts

• 3,920 sq ft lot
• Garage
• Built 1925

Property features AI

Finance

• Financial info: $1,798 annual tax (2024)

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; No common walls; Built in 1925
• Construction: Block foundation noted; Built in 1925
• Exterior features: Block foundation; Lot size about 0.09 acres

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Interior features: Basement present; Living area approximately 676

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Market conditions: Rents rising fast (+4.6%/yr); 147 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 39% 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 $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 34 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.05% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $133,172
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Campbell Ave	0.04mi	1/1.0 (-1)	576 (-15%)	3mo	$61,500	$107	66
1043 Bellows Ave	0.33mi	2/1.0	606 (-10%)	13mo	$80,300	$133	57
1141 Campbell Ave	0.46mi	2/1.0	660 (-2%)	24mo	$173,000	$262	55
282 S Princeton Ave	0.67mi	2/1.0	736 (+9%)	14mo	$145,000	$197	42

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-6,009
• Equity at exit: $21,620

10-year hold

• IRR: 7.5%
• Equity multiple: 1.61×
• Total profit: $24,713
• Equity at exit: $12,537

Cash invested: $40,600 (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 43223

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

Monthly cashflow live

• Estimated rent: $1,526 high
• Mortgage (P&I): −$760
• Tax from tax record: −$150 /mo · $1,798/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $235

Break-even live

Break-even rent $1,229

Max offer price $145,000

Occupancy floor 80%

Sensitivity live

Price	-10% $317	-5% $276	+0% $235	+5% $194	+10% $153
Rent	-10% $115	-5% $175	+0% $235	+5% $295	+10% $356
Rate	-1.0pp $308	-0.5pp $272	base $235	+0.5pp $197	+1.0pp $159

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
878 1/2 Sullivant Ave Columbus, OH	1.0	1.0	616	$965	$1.57	8d	1	0.18mi
509 W Rich St Columbus, OH	2.0	1.0–2.0	870	$2,370	$2.72	8d	76	0.45mi
80 S Souder Ave Columbus, OH	2.0	1.0–2.0	744	$1,713	$2.30	3d	47	0.47mi
548 W State St Columbus, OH	1.0	1.0	577	$1,225	$2.12	12d	1	0.61mi
401 W Rich St Columbus, OH	1.0–2.0	1.0–2.0	957	$2,383	$2.49	3d	18	0.63mi
1287 Sullivant Ave Unit 1 Columbus, OH	2.0	1.0	650	$1,200	$1.85	24d	1	0.67mi
1287 Sullivant Ave Unit 3 Columbus, OH	2.0	1.0	650	$1,250	$1.92	24d	1	0.67mi
1137 W Broad St Columbus, OH	1.0–2.0	1.0	770	$1,860	$2.42	44d	1	0.67mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$2,766	$2.37	44d	15	0.75mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$2,804	$2.40	2d	52	0.75mi
917 Eaton Ave Columbus, OH	1.0–2.0	1.0	675	$975	$1.44	11d	6	0.76mi
433 W Broad St Columbus, OH	2.0	1.0–2.0	975	$3,371	$3.46	2d	35	0.79mi
142 Dana Ave Unit 142 Columbus, OH	2.0	1.0	700	$825	$1.18	44d	1	0.80mi
287 S Central Ave Unit 285 Columbus, OH	1.0	1.0	704	$870	$1.24	18d	1	0.87mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$912	$0.97	15d	12	0.91mi
24 N Princeton Ave Columbus, OH	1.0	1.0	500	$1,180	$2.36	44d	1	0.92mi
1485 Walsh Ave Columbus, OH	2.0	1.0	720	$1,450	$2.01	24d	1	0.94mi
250 Liberty St Columbus, OH	1.0–3.0	1.0–2.0	1130	$1,972	$1.74	2d	25	0.98mi
303 S Front St Columbus, OH	2.0	1.0–2.0	746	$2,292	$3.07	2d	12	1.08mi
100 Frankfort Sq Columbus, OH	1.0–2.0	1.0–2.0	986	$2,264	$2.30	3d	25	1.13mi
691 S Front St Columbus, OH	1.0	1.0	550	$895	$1.63	45d	1	1.13mi
209 S High St Columbus, OH	1.0–3.0	1.0–3.0	1396	$2,348	$1.68	2d	22	1.21mi
12 W Gay St Columbus, OH	2.0	1.0–2.0	893	$2,738	$3.07	2d	32	1.37mi
1773 W Mound St Unit 1799 Columbus, OH	1.0	1.0	700	$900	$1.29	44d	1	1.38mi
1773 W Mound St Unit 1803 Columbus, OH	1.0	1.0	700	$925	$1.32	44d	1	1.38mi
11 E Gay St Columbus, OH	1.0	1.0	789	$1,392	$1.76	4d	5	1.39mi
70 N High St Columbus, OH	1.0–2.0	1.0–3.0	1193	$5,789	$4.85	4d	17	1.39mi
8 E Long St Columbus, OH	1.0	1.0	687	$1,436	$2.09	2d	10	1.45mi
195 E Main St Columbus, OH	1.0	1.0	519	$1,149	$2.21	3d	14	1.48mi

Listing history 18 events

1. 2026-06-21
   days on market $145,000 Active 34 DOM
2. 2026-06-18
   days on market $145,000 Active 31 DOM
3. 2026-06-17
   days on market $145,000 Active 30 DOM
4. 2026-06-16
   days on market $145,000 Active 29 DOM
5. 2026-06-15
   days on market $145,000 Active 28 DOM
6. 2026-06-13
   days on market $145,000 Active 26 DOM
7. 2026-06-13
   days on market $145,000 Active 25 DOM
8. 2026-06-09
   days on market $145,000 Active 22 DOM
9. 2026-06-08
   days on market $145,000 Active 21 DOM
10. 2026-06-07
    days on market $145,000 Active 20 DOM
11. 2026-06-05
    days on market $145,000 Active 17 DOM
12. 2026-06-03
    days on market $145,000 Active 16 DOM
13. 2026-06-02
    days on market $145,000 Active 15 DOM
14. 2026-06-01
    days on market $145,000 Active 14 DOM
15. 2026-05-31
    days on market $145,000 Active 13 DOM
16. 2026-05-18
    listed $145,000 Active
17. 2023-08-25
    soldstatus $80,000
18. 1983-07-01
    soldstatus $19,000

ⓘ 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: $1,798 · $150/mo
• Projected year-2 tax: $2,030 · $169/mo
• Expected delta: +$232/yr (+$19/mo · 12.9%)

ⓘ 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 · 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,314
• − Mortgage interest: −$8,122
• − Property taxes: −$1,798
• − Insurance: −$725
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$4,218
• Taxable income: $521
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $2,696/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

+663.2% since first listed

3 events — show timeline

• 2026-05-18 Listed $145,000 CBRMLS
• 2023-08-25 Sold (Public Records) $80,000 Public Records
• 1983-07-01 Sold (Public Records) $19,000 Public Records

Property tax history

+10.1%/yr

Latest (2024): $1,798 · +12.9% YoY. Source: county tax records.