3317 Latonia Ct · Blacklick Estates, OH 43232

$50,000

3 bd · 2.0 ba · 1,424 sqft · Land · 33 Days on market

Built 2020 10,454 sqft lot $35/sqft · 78% below area ↓ 28% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Vacant Residential Lot - wonderful cul de sac building lot! 0.28 acre lot is in Madison Township, Blacklick Estates and has paved access, sidewalk and public utilities available. This parcel is at the edge of a floodway.

Key facts

• Quiet cul-de-sac
• Convenient access
• Renovation project

Tags

• RENOVATION PROJECT
• QUIET CUL-DE-SAC
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Listing offered as auction and standard

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 2020; No shared/common walls
• Construction: Built in 2020; Poured foundation
• Exterior features: Poured foundation; Lot roughly 0.24 acres; Subdivision: Blacklick Estates Sec

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Other flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Electric and hot water heating
• Interior features: Insulated windows throughout; Living area approximately 1,424

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $50k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.2% vs local median 5.3% in Blacklick Estates — 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 73/100 on livability (#314 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: crime C-, amenities F, health & safety F.
• Groveport Madison Local (suburban): math 23% / reading 38% proficiency, ranked #573 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 94 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 41% of the median local income ($51k/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 $346 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 + 2.4% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.54% ✓
• Cap rate: 31.16%
• Cash-on-cash: 88.82%
• DSCR: 4.95
• GRM: 2.4

CMA / ARV

• ARV (median comp): $229,221
• List price: $50,000
• Delta: -78.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.36% rent growth · sell at horizon

5-year hold

• IRR: 49.4%
• Equity multiple: 3.14×
• Total profit: $29,896
• Equity at exit: $7,455

10-year hold

• IRR: 54.7%
• Equity multiple: 6.19×
• Total profit: $72,662
• Equity at exit: $4,323

Cash invested: $14,000 (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 43232

• Rents YoY: 2.4%
• Active inventory: 94
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,769 high
• Mortgage (P&I): −$262
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $610

Break-even live

Break-even rent $997

Max offer price $50,000

Occupancy floor 61%

Sensitivity live

Price	-10% $638	-5% $624	+0% $610	+5% $596	+10% $581
Rent	-10% $470	-5% $540	+0% $610	+5% $680	+10% $749
Rate	-1.0pp $635	-0.5pp $622	base $610	+0.5pp $597	+1.0pp $584

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5293 Tuxworth Dr Columbus, OH	3.0	1.0	1164	$1,935	$1.66	45d	1	0.42mi
5399 Inlet Dr Unit 1 Columbus, OH	4.0	1.0	1350	$1,850	$1.37	45d	1	0.43mi
5400 Cove Ave Columbus, OH	4.0	1.0	912	$1,450	$1.59	45d	1	0.46mi
5106 Harbor Blvd Columbus, OH	3.0	1.0	936	$1,600	$1.71	16d	1	0.51mi
3290 Beagle Blvd Columbus, OH	4.0	2.5	1787	$2,300	$1.29	3d	1	0.60mi
5042 Bentler Dr Columbus, OH	3.0	1.0	1650	$1,803	$1.09	45d	1	0.67mi
3003 Falcon Bridge Dr Columbus, OH	3.0	1.5	1350	$1,801	$1.33	45d	1	0.91mi
4535 Reinbeau Dr Unit 4533 Columbus, OH	3.0	1.5	1200	$1,500	$1.25	45d	1	0.97mi
3400 Beachworth Dr Unit 3402 Columbus, OH	3.0	1.5	1200	$1,500	$1.25	45d	1	0.98mi
3399 Beachworth Dr Unit B Columbus, OH	2.0	1.5	942	$1,100	$1.17	18d	1	1.00mi
3417 Beachworth Dr Unit 3417B Columbus, OH	2.0	1.5	900	$1,200	$1.33	18d	1	1.01mi
2859 Falcon Bridge Dr Columbus, OH	3.0	1.5	1350	$1,900	$1.41	21d	1	1.06mi
3995 Cracker Cove Ln Canal Winchester, OH	1.0–2.0	1.0–2.0	914	$1,485	$1.62	4d	13	1.07mi
2705 Denmark Rd Columbus, OH	4.0	2.0	1504	$2,199	$1.46	24d	1	1.10mi
2564 Maybury Rd Columbus, OH	4.0	1.5	1185	$1,900	$1.60	17d	1	1.23mi
2564 Maybury Rd Columbus, OH	4.0	1.5	1185	$1,900	$1.60	4d	1	1.23mi
2710 Moundcrest St Columbus, OH	3.0	1.0	1316	$1,885	$1.43	45d	1	1.25mi
5240 Carbondale Dr Columbus, OH	3.0	1.5	1239	$2,000	$1.61	45d	1	1.28mi

Listing history 24 events

1. 2026-06-13
   statusdays on market $50,000 Pending 33 DOM
2. 2026-06-09
   days on market $50,000 Active 32 DOM
3. 2026-06-08
   days on market $50,000 Active 31 DOM
4. 2026-06-07
   days on market $50,000 Active 30 DOM
5. 2026-06-03
   days on market $50,000 Active 26 DOM
6. 2026-06-02
   days on market $50,000 Active 25 DOM
7. 2026-06-01
   days on market $50,000 Active 24 DOM
8. 2026-05-31
   days on market $50,000 Active 23 DOM
9. 2026-05-08
   listed $50,000 Active 1279-char remark
10. 2024-11-23
    historical
11. 2024-11-04
    price $129,900
12. 2024-10-23
    listed $135,000 Active
13. 2024-06-24
    soldstatus $90,000
14. 2019-05-25
    status Pending

    Show marketing remark (220 chars)

    Vacant Residential Lot - wonderful cul de sac building lot! 0.28 acre lot is in Madison Township, Blacklick Estates and has paved access, sidewalk and public utilities available. This parcel is at the edge of a floodway.

15. 2019-05-22
    soldstatus $6,000 Closed

    Show marketing remark (220 chars)

    Vacant Residential Lot - wonderful cul de sac building lot! 0.28 acre lot is in Madison Township, Blacklick Estates and has paved access, sidewalk and public utilities available. This parcel is at the edge of a floodway.

16. 2019-04-26
    price $9,000

    Show marketing remark (220 chars)

    Vacant Residential Lot - wonderful cul de sac building lot! 0.28 acre lot is in Madison Township, Blacklick Estates and has paved access, sidewalk and public utilities available. This parcel is at the edge of a floodway.

17. 2019-01-28
    listed $11,000 Active

    Show marketing remark (220 chars)

    Vacant Residential Lot - wonderful cul de sac building lot! 0.28 acre lot is in Madison Township, Blacklick Estates and has paved access, sidewalk and public utilities available. This parcel is at the edge of a floodway.

18. 1998-09-27
    historical
19. 1998-07-31
    listed $86,000
20. 1998-04-04
    historical
21. 1997-12-29
    listed $79,900
22. 1996-10-24
    soldstatus $70,000
23. 1996-07-06
    historical
24. 1996-05-02
    listed $69,900

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $940 · $78/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 AE · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,230
• − Mortgage interest: −$2,801
• − Property taxes: −$940
• − Insurance: −$5,368
• − Repairs & maintenance: −$1,698
• − Management: −$1,698
• − Depreciation: −$1,455
• Taxable income: $7,269
• Est. tax owed @ 24.0%: −$1,745
• After-tax cash flow: $5,572/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: Groveport Madison Local
• NCES district ID: 3904697
• Math proficiency: 23% ▼ -25.00%
• Reading proficiency: 38% ▼ -16.00%
• Median HH income: $49,549
• Composite: 26.52/100
• National rank: #7200
• State rank: #573 of 656 in OH

Livability — Blacklick Estates

• Score: 73/100
• State rank: #314
• US rank: #5082

Category grades

Amenities F Commute A- Cost of living A+ Crime C- Employment C Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blacklick Estates, OH
• County: Franklin County · 1,351,780 people
• Metro: Columbus, OH
• Population (ZIP): 47,364
• Household income: $51,417
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2584.0

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: Black 58% White 26% Hispanic / Latino 8% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Swiss 1% Slovak 1% Italian 1%
• Foreign-born: 13% · Canada, China
• Languages at home: 86% English-only · Spanish 6% 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: ▼ -203.49%
• Current HPI: 249.3708
• Rent YoY: ▲ 2.36%
• 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

-28.5% since first listed

17 events — show timeline

• 2026-06-10 Pending — CBRMLS
• 2026-05-08 Listed $50,000 CBRMLS
• 2024-11-23 Listing Removed — CBRMLS
• 2024-11-04 Price Changed $129,900 CBRMLS
• 2024-10-23 Listed $135,000 CBRMLS
• 2024-06-24 Sold (Public Records) $90,000 Public Records
• 2019-05-25 Pending — CBRMLS
• 2019-05-22 Sold (MLS) $6,000 CBRMLS
• 2019-04-26 Price Changed $9,000 CBRMLS
• 2019-01-28 Listed $11,000 CBRMLS
• 1998-09-27 Listing Removed — CBRMLS
• 1998-07-31 Listed $86,000 CBRMLS
• 1998-04-04 Listing Removed — CBRMLS
• 1997-12-29 Listed $79,900 CBRMLS
• 1996-10-24 Sold (Public Records) $70,000 Public Records
• 1996-07-06 Listing Removed — CBRMLS
• 1996-05-02 Listed $69,900 CBRMLS

Property tax history

+10.4%/yr

Latest (2024): $940 · -14.0% YoY. Source: county tax records.