2501 Nassau Dr Unit 23C · Columbus, OH 43232

$84,900

2 bd · 1.0 ba · 960 sqft · Condo public records · 35 Days on market

Built 1972 $160/mo HOA · 14% of rent

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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 +24.0/30.0
• 1% rule +8.5/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this 2 BR townhouse like condo with attached garage and patio. Refrigerator, Range/Oven and dishwasher inclusive. Washer and dryer hook ups in lower level. MOVE IN READY! Owner-Agent.

Key facts

• Attached garage
• $160 HOA
• Garage

Tags

• ATTACHED GARAGE
• LOW MONTHLY CONDO FEE
• EASY ACCESS TO AMENITIES

Property features AI

Finance

• Other: Standard listing conditions
• HOA & community: Homeowners association with $160 monthly fee; HOA fee includes snow removal

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Condominium; Two levels; One common wall
• Construction: Built in 1972
• Exterior features: Other exterior features; Slab foundation

Interior

• Bathrooms: 1 full bathroom
• Interior features: Living area of 960

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Columbus Alternative High School (math 27% / reading 74%, grade D+, #380 of 781 statewide, top 49%, 758 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 20% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.4%/yr); 94 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $587 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $85k implies a 324% gain — meaningful room to come down on a strong offer.

Recommended offer $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.38
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-3,743
• Equity at exit: $12,659

10-year hold

• IRR: 4.7%
• Equity multiple: 1.33×
• Total profit: $7,916
• Equity at exit: $7,341

Cash invested: $23,772 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,148 high
• Mortgage (P&I): −$445
• Tax from tax record: −$100 /mo · $1,195/yr
• Insurance: −$35
• HOA: −$160
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $167

Break-even live

Break-even rent $937

Max offer price $84,900

Occupancy floor 80%

Sensitivity live

Price	-10% $215	-5% $191	+0% $167	+5% $143	+10% $119
Rent	-10% $76	-5% $122	+0% $167	+5% $212	+10% $258
Rate	-1.0pp $210	-0.5pp $189	base $167	+0.5pp $145	+1.0pp $123

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2440 Burgandy Ln Columbus, OH	2.0	1.0	960	$1,195	$1.24	45d	1	0.10mi
2483 Courtright Rd Unit 2503 Columbus, OH	1.0	1.0	693	$799	$1.15	25d	1	0.21mi
2233 Courtside Dr Columbus, OH	3.0	1.0	812	$1,030	$1.27	0d	9	0.36mi
2510 Kimberly Pkwy E Unit 2510-207 Columbus, OH	1.0	1.0	626	$800	$1.28	5d	1	0.51mi
2510 Kimberly Pkwy E Unit 2510-105 Columbus, OH	1.0	1.0	626	$850	$1.36	45d	1	0.51mi
2510 Kimberly Pkwy E Columbus, OH	1.0	1.0	626	$800	$1.28	9d	1	0.51mi
2209 Wabash Ct W Columbus, OH	1.0–2.0	1.0–1.5	826	$1,456	$1.76	0d	6	0.80mi
2400 Shore Blvd W Columbus, OH	1.0–2.0	1.0–1.5	729	$1,249	$1.71	4d	34	1.03mi
1789 Elaine Rd Columbus, OH	2.0	1.5	960	$1,232	$1.28	0d	2	1.13mi
3170 Melissa Pl Unit MR 3175A Columbus, OH	2.0	1.0	850	$1,000	$1.18	25d	1	1.18mi
3170 Melissa Pl Unit El Columbus, OH	2.0	1.0	850	$1,000	$1.18	0d	1	1.18mi
1718 Carstare Dr Columbus, OH	2.0	1.5	720	$950	$1.32	45d	1	1.21mi
1705 Carstare Dr Columbus, OH	2.0	1.5	720	$950	$1.32	45d	1	1.22mi
3170 Melissa Pl Columbus, OH	2.0	1.0	850	$1,000	$1.18	5d	1	1.22mi
3417 Bexvie Ave Unit 3417-E Columbus, OH	2.0	1.5	880	$1,000	$1.14	0d	1	1.26mi
3486 Roswell Dr Columbus, OH	3.0	2.0	1116	$1,625	$1.46	45d	1	1.26mi
3409 Bexvie Ave Columbus, OH	2.0–3.0	1.5	990	$1,000	$1.01	4d	3	1.28mi
3399 Beachworth Dr Unit B Columbus, OH	2.0	1.5	942	$1,100	$1.17	19d	1	1.35mi
3417 Beachworth Dr Unit 3417B Columbus, OH	2.0	1.5	900	$1,200	$1.33	19d	1	1.38mi
2842 Kingsrowe Ct Unit 2842 Columbus, OH	3.0	1.5	871	$1,975	$2.27	45d	1	1.38mi
4056 Carlton Ave Columbus, OH	2.0	1.5	1100	$1,250	$1.14	25d	1	1.41mi

HOA detail condo

• Monthly dues: $160 · $1,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $84,900 Active 35 DOM
2. 2026-06-18
   days on market $84,900 Active 32 DOM
3. 2026-06-17
   days on market $84,900 Active 31 DOM
4. 2026-06-16
   days on market $84,900 Active 30 DOM
5. 2026-06-15
   days on market $84,900 Active 29 DOM
6. 2026-06-13
   days on market $84,900 Active 27 DOM
7. 2026-06-13
   pricedays on market $84,900 Active 26 DOM
8. 2026-06-09
   days on market $89,000 Active 23 DOM
9. 2026-06-08
   days on market $89,000 Active 22 DOM
10. 2026-06-07
    days on market $89,000 Active 21 DOM
11. 2026-06-05
    pricedays on market $89,000 Active 18 DOM
12. 2026-06-03
    days on market $95,000 Active 17 DOM
13. 2026-06-02
    days on market $95,000 Active 16 DOM
14. 2026-06-01
    days on market $95,000 Active 15 DOM
15. 2026-05-31
    days on market $95,000 Active 14 DOM
16. 2026-05-17
    listed $95,000 Active
17. 2015-01-09
    soldstatus $20,000
18. 2015-01-05
    soldstatus $20,000 194-char remark

    Show marketing remark (194 chars)

    Don't miss this 2 BR townhouse like condo with attached garage and patio. Refrigerator, Range/Oven and dishwasher inclusive. Washer and dryer hook ups in lower level. MOVE IN READY! Owner-Agent.

19. 2014-12-19
    historical 194-char remark

    Show marketing remark (194 chars)

    Don't miss this 2 BR townhouse like condo with attached garage and patio. Refrigerator, Range/Oven and dishwasher inclusive. Washer and dryer hook ups in lower level. MOVE IN READY! Owner-Agent.

20. 2014-11-03
    listed $25,000 194-char remark

    Show marketing remark (194 chars)

    Don't miss this 2 BR townhouse like condo with attached garage and patio. Refrigerator, Range/Oven and dishwasher inclusive. Washer and dryer hook ups in lower level. MOVE IN READY! Owner-Agent.

21. 1984-08-01
    soldstatus $33,500

ⓘ 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: $1,195 · $100/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$65/yr (+$5/mo · 5.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $13,781
• − Mortgage interest: −$4,756
• − Property taxes: −$1,195
• − Insurance: −$424
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − HOA: −$1,920
• − Depreciation: −$2,470
• Taxable income: $811
• Est. tax owed @ 24.0%: −$195
• After-tax cash flow: $1,810/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): 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

+183.6% since first listed

6 events — show timeline

• 2026-05-17 Listed $95,000 CBRMLS
• 2015-01-09 Sold (Public Records) $20,000 Public Records
• 2015-01-05 Sold (MLS) $20,000 CBRMLS
• 2014-12-19 Listing Removed — CBRMLS
• 2014-11-03 Listed $25,000 CBRMLS
• 1984-08-01 Sold (Public Records) $33,500 Public Records

Property tax history

-6.3%/yr

Latest (2024): $1,195 · +1.3% YoY. Source: county tax records.