2215 Frank Rd · Columbus, OH 43223

$110,000

3 bd · 1.0 ba · 1,681 sqft · SingleFamily public records · 7 Days on market

Built 1905 0.45 ac lot $65/sqft · at area comps Est $111k · at est.

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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 +7.9/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.45 acre lot
• Built 1905
• Listed 7 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family home; Two stories; Built in 1905; No shared/common walls
• Construction: Block foundation
• Exterior features: Approximately 0.45-acre lot

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: Three full bathrooms
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $800 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 15.0% 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.
• South-Western City (suburban): math 40% / reading 48% proficiency, ranked #500 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.6%/yr); 144 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• At $1,925/mo this rent would consume 49% of the median local household income ($47k/yr) (locally 1689% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1905 — 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: 1.75% ✓
• Cap rate: 15.02%
• Cash-on-cash: 31.17%
• DSCR: 2.39
• GRM: 4.8

CMA / ARV

• ARV (median comp): $111,020
• List price: $110,000
• Delta: -0.92%
• 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
1949 Big Run Bluff Blvd	0.41mi	3/2.0	1,568 (-7%)	3mo	$105,000	$67	63
2248 Golden Leaf Ln	0.31mi	3/2.5	1,512 (-10%)	4mo	$255,000	$169	60
1372 Stanwix Ct	0.71mi	3/2.5	1,701 (+1%)	1mo	$289,900	$170	58
2243 Golden Leaf Ln	0.29mi	3/2.0	1,448 (-14%)	5mo	$190,000	$131	55
1684 Eastbrook Dr N	0.60mi	3/2.0	1,524 (-9%)	1mo	$285,000	$187	52
1360 Hafton Woods Dr	0.57mi	3/2.0	1,516 (-10%)	2mo	$305,000	$201	51
1543 Red Leaf Ln	0.47mi	3/2.5	1,428 (-15%)	2mo	$239	—	46
1935 Little Water Dr	0.65mi	3/2.5	1,808 (+8%)	7mo	$290,000	$160	45
1640 Butterfly Ct	0.45mi	4/2.0 (+1)	1,433 (-15%)	3mo	$244,500	$171	43
1650 Westbrook Dr	0.52mi	4/2.0 (+1)	1,429 (-15%)	1mo	$245,000	$171	41
2894 Creith Ct	0.65mi	3/1.5	1,444 (-14%)	6mo	$247,000	$171	40
1834 Saint Lawrence Dr	0.71mi	4/3.0 (+1)	1,808 (+8%)	3mo	$310,000	$171	39

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: 27.8%
• Equity multiple: 2.18×
• Total profit: $36,303
• Equity at exit: $16,401

10-year hold

• IRR: 36.2%
• Equity multiple: 4.59×
• Total profit: $110,680
• Equity at exit: $9,511

Cash invested: $30,800 (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 43223

• Rents YoY: 4.6%
• Active inventory: 144
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,925 high
• Mortgage (P&I): −$577
• Tax from tax record: −$98 /mo · $1,177/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $800

Break-even live

Break-even rent $912

Max offer price $110,000

Occupancy floor 53%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1640 Butterfly Ct Columbus, OH	4.0	2.0	1433	$1,849	$1.29	3d	1	0.44mi
2887 Creith Ct Grove City, OH	3.0	2.0	1201	$2,023	$1.68	44d	1	0.68mi
1475 Pineland Ct Columbus, OH	4.0	2.5	1170	$2,023	$1.73	44d	1	0.69mi
2956 Crocker Run Rd Grove City, OH	3.0	1.5	1200	$2,000	$1.67	44d	1	0.75mi
1417 Fahy Dr Columbus, OH	3.0	2.0	1932	$2,345	$1.21	10d	1	0.79mi
2290 Turquoise Dr Grove City, OH	3.0	1.0	1232	$2,225	$1.81	16d	1	0.87mi
2348 Warfield Dr Grove City, OH	4.0	2.0	1262	$1,825	$1.45	44d	1	0.96mi
945 Hodges Dr Columbus, OH	3.0	1.0	1078	$1,640	$1.52	23d	1	1.06mi
2284 Brookbank Dr Grove City, OH	3.0	2.0	1478	$2,275	$1.54	10d	1	1.14mi
1433 Tall Meadows Dr Columbus, OH	3.0	1.5	1428	$1,995	$1.40	12d	1	1.20mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	1.38mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	44d	1	1.40mi
1241 Riegelwood Ln Columbus, OH	4.0	3.0	1868	$2,480	$1.33	1d	1	1.42mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	44d	1	1.46mi

Listing history 2 events

1. 2026-05-16
   status Pending 55-char remark
2. 2026-05-08
   listed $110,000 Active 55-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: $1,177 · $98/mo
• Projected year-2 tax: $1,446 · $121/mo
• Expected delta: +$270/yr (+$22/mo · 22.9%)

ⓘ 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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 17 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: $23,100
• − Mortgage interest: −$6,162
• − Property taxes: −$1,177
• − Insurance: −$550
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$3,200
• Taxable income: $8,316
• Est. tax owed @ 24.0%: −$1,996
• After-tax cash flow: $7,605/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: South-Western City
• NCES district ID: 3904480
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 48% ▼ -10.00%
• Median HH income: $51,689
• Composite: 37.95/100
• National rank: #4305
• State rank: #500 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

• 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

• 2026-05-16 Pending — CBRMLS
• 2026-05-08 Listed $110,000 CBRMLS

Property tax history

+7.3%/yr

Latest (2024): $1,177 · +0.5% YoY. Source: county tax records.