3028 Hiawatha St · Columbus, OH 43224

$144,900

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 48 Days on market

Built 1949 4,791 sqft lot $155/sqft · 18% below area Est $177k · 18% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Curb Offers Only - Do not disturb tenants. Current rent is $695 per month. Must be purchased with MLS #s 217022049, 217022051 and 217022052. Package listing price is $249,900. May be combined with other packaged properties. Property being sold As-Is.

Key facts

• Manageable lot
• Single level living
• Ranch style home

Tags

• RANCH STYLE HOME
• SINGLE LEVEL LIVING
• MANAGEABLE LOT
• LINDEN HEIGHTS SUBDIVISION
• COLUMBUS CITY SCHOOL DISTRICT
• CONVENIENT ACCESS TO PARKS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story; Built in 1949; No common walls
• Construction: Slab foundation
• Exterior features: Outbuilding on the property; Lot about 0.11 acre

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Wood flooring; Carpet flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Crawl space basement; Living area approximately 936

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $37 ($439/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (10.4% below list).
• Recommended offer: $130k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+4.2%/yr); 100 active listings in the ZIP; 40 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 $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 48 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $145k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,779 (10.4% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (median comp): $177,486
• List price: $144,900
• Delta: -9.91%
• 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
3120 Howey Rd	0.20mi	3/1.0	1,008 (+8%)	1mo	$85,000	$84	77
2888 Howey Rd	0.22mi	3/1.0	842 (-10%)	1mo	$180,500	$214	72
2728 Atwood Ter	0.43mi	3/1.0	979 (+5%)	1mo	$170,000	$174	71
1120 Piedmont Rd	0.50mi	3/1.0	979 (+5%)	2mo	$206,000	$210	68
2873 Ontario St	0.52mi	3/1.0	979 (+5%)	2mo	$231,900	$237	67
2610 Atwood Ter	0.60mi	3/1.0	979 (+5%)	1mo	$176,500	$180	64
2559 Hamilton Ave	0.72mi	3/1.5	919 (-2%)	1mo	$140,000	$152	61
1397 Melrose Ave	0.63mi	3/1.0	861 (-8%)	1mo	$140,000	$163	57
2876 Medina Ave	0.65mi	3/1.0	1,020 (+9%)	1mo	$218,000	$214	54
3264 Eisenhower Rd	0.50mi	3/1.0	1,069 (+14%)	0mo	$235,000	$220	53
2780 Audubon Rd	0.47mi	2/1.5 (-1)	1,070 (+14%)	1mo	$189,400	$177	46
1398 Manchester Ave	0.69mi	2/1.0 (-1)	820 (-12%)	0mo	$255,000	$311	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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-19,606
• Equity at exit: $21,605

10-year hold

• IRR: -2.6%
• Equity multiple: 0.81×
• Total profit: $-7,586
• Equity at exit: $12,528

Cash invested: $40,572 (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 43224

• Rents YoY: 4.2%
• Active inventory: 100
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,298 high
• Mortgage (P&I): −$760
• Tax from tax record: −$168 /mo · $2,021/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $37

Break-even live

Break-even rent $1,251

Max offer price $144,900

Occupancy floor 92%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2942 Atwood Ter Columbus, OH	2.0	1.0	962	$1,200	$1.25	43d	1	0.10mi
3086-3092 Grasmere Ave Unit 3088 Columbus, OH	2.0	1.0	800	$1,000	$1.25	23d	1	0.22mi
3088 Grasmere Ave Columbus, OH	2.0	1.0	800	$1,000	$1.25	23d	1	0.22mi
3054 McGuffey Rd Columbus, OH	3.0	1.0	1106	$1,450	$1.31	43d	1	0.25mi
3120 Grasmere Ave Columbus, OH	2.0	1.0	842	$1,395	$1.66	3d	1	0.25mi
870 Melrose Ave Columbus, OH	2.0	1.0	732	$1,345	$1.84	7d	1	0.26mi
3137 Mcguffey Rd Columbus, OH	2.0	1.0	950	$950	$1.00	43d	1	0.30mi
1011 Mohican Ave Columbus, OH	3.0	1.0	1091	$1,399	$1.28	43d	1	0.31mi
3199 Maize Rd Columbus, OH	2.0	1.0	800	$1,150	$1.44	23d	1	0.36mi
2980 Reis Ave Columbus, OH	2.0	1.0	840	$1,099	$1.31	43d	1	0.36mi
2767 Hiawatha St Columbus, OH	3.0	1.0	896	$1,475	$1.65	7d	1	0.37mi
780 E Brighton Rd Columbus, OH	3.0	1.0	1086	$1,500	$1.38	7d	1	0.44mi
3327 McGuffey Rd Columbus, OH	3.0	1.0	1100	$1,335	$1.21	7d	1	0.55mi
3267 Walmar Dr Columbus, OH	3.0	1.0	1106	$1,550	$1.40	23d	1	0.59mi
1269 Minnesota Ave Columbus, OH	3.0	1.0	1075	$1,550	$1.44	7d	1	0.63mi
3421-3431 Maize Rd Unit 3421-A Columbus, OH	2.0	1.5	960	$1,295	$1.35	14d	1	0.64mi
2566 Atwood Ter Columbus, OH	3.0	1.0	979	$1,500	$1.53	23d	1	0.64mi
1549-1551 Oakland Park Ave Columbus, OH	2.0	1.0	832	$1,100	$1.32	21d	1	0.76mi
2459 Atwood Ter Columbus, OH	2.0	2.0	936	$1,650	$1.76	43d	1	0.80mi
2459 Hiawatha St Columbus, OH	2.0	1.0	810	$1,025	$1.27	43d	1	0.82mi
2472 Pontiac St Columbus, OH	2.0	1.0	754	$995	$1.32	14d	1	0.83mi
2472 Pontiac St Columbus, OH	2.0	1.0	754	$995	$1.32	3d	1	0.83mi
1358 Pauline Ave Columbus, OH	2.0	1.5	930	$1,650	$1.77	23d	1	0.85mi
3601 Maize Rd Unit 955-B Columbus, OH	2.0	1.0	800	$975	$1.22	7d	1	0.85mi
965 Fairglade Ln Columbus, OH	2.0	1.0	850	$975	$1.15	43d	1	0.86mi
3461 Gerbert Rd Columbus, OH	3.0	1.0	900	$1,350	$1.50	43d	1	0.86mi
2530 Beulah Rd Columbus, OH	2.0	1.0	720	$1,345	$1.87	14d	1	0.89mi
2872 Indianola Ave Columbus, OH	3.0	1.0	1000	$1,799	$1.80	43d	1	0.94mi
854 Moon Rd Columbus, OH	2.0	1.0	864	$799	$0.92	19d	1	0.94mi
1524 Genessee Ave Unit A Columbus, OH	2.0	1.0	800	$1,150	$1.44	2d	1	0.95mi
3617 Beulah Rd Columbus, OH	2.0	1.0	900	$1,124	$1.25	23d	1	0.95mi
3450 Indianola Ave Columbus, OH	2.0	1.0–2.0	877	$2,099	$2.39	43d	13	0.96mi
1530 Genessee Ave Unit B Columbus, OH	2.0	1.0	800	$1,150	$1.44	3d	1	0.96mi
2299 Hamilton Ave Columbus, OH	2.0	1.0	1000	$1,200	$1.20	43d	1	1.03mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,425	$1.57	19d	1	1.05mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,395	$1.54	7d	1	1.05mi
3709 Beulah Rd Unit A Columbus, OH	2.0	1.0	864	$975	$1.13	17d	1	1.06mi
1352 E Hudson St Columbus, OH	2.0	1.0	800	$1,150	$1.44	43d	1	1.07mi
1576-1578 Arlington Ave Unit 1576 Columbus, OH	2.0	1.0	902	$1,000	$1.11	43d	1	1.07mi
2765 Cleveland Ave Unit B Columbus, OH	2.0	1.0	1100	$990	$0.90	17d	1	1.09mi

Listing history 32 events

1. 2026-06-18
   days on market $144,900 Active 48 DOM
2. 2026-06-17
   price $144,900 Active 47 DOM
3. 2026-06-17
   days on market $159,900 Active 47 DOM
4. 2026-06-16
   days on market $159,900 Active 46 DOM
5. 2026-06-15
   days on market $159,900 Active 45 DOM
6. 2026-06-13
   days on market $159,900 Active 43 DOM
7. 2026-06-13
   days on market $159,900 Active 42 DOM
8. 2026-06-09
   days on market $159,900 Active 39 DOM
9. 2026-06-08
   days on market $159,900 Active 38 DOM
10. 2026-06-07
    days on market $159,900 Active 37 DOM
11. 2026-06-05
    days on market $159,900 Active 34 DOM
12. 2026-06-03
    days on market $159,900 Active 33 DOM
13. 2026-06-02
    days on market $159,900 Active 32 DOM
14. 2026-06-01
    days on market $159,900 Active 31 DOM
15. 2026-05-31
    days on market $159,900 Active 30 DOM
16. 2026-05-01
    listed $159,900 Active 649-char remark
17. 2018-01-03
    soldstatus $45,000
18. 2017-12-28
    soldstatus $45,000 Closed 250-char remark

    Show marketing remark (250 chars)

    Curb Offers Only - Do not disturb tenants. Current rent is $695 per month. Must be purchased with MLS #s 217022049, 217022051 and 217022052. Package listing price is $249,900. May be combined with other packaged properties. Property being sold As-Is.

19. 2017-12-15
    status Pending 250-char remark

    Show marketing remark (250 chars)

    Curb Offers Only - Do not disturb tenants. Current rent is $695 per month. Must be purchased with MLS #s 217022049, 217022051 and 217022052. Package listing price is $249,900. May be combined with other packaged properties. Property being sold As-Is.

20. 2017-06-22
    listed $58,950 Active 250-char remark

    Show marketing remark (250 chars)

    Curb Offers Only - Do not disturb tenants. Current rent is $695 per month. Must be purchased with MLS #s 217022049, 217022051 and 217022052. Package listing price is $249,900. May be combined with other packaged properties. Property being sold As-Is.

21. 2007-09-27
    soldstatus $22,900

    Show marketing remark (58 chars)

    One story home. 1 car detached garage. Being sold 'As Is'.

22. 2007-09-14
    historical

    Show marketing remark (58 chars)

    One story home. 1 car detached garage. Being sold 'As Is'.

23. 2007-06-18
    listed $32,900

    Show marketing remark (58 chars)

    One story home. 1 car detached garage. Being sold 'As Is'.

24. 2003-12-03
    historical
25. 2003-04-07
    listed $85,000
26. 2003-02-25
    soldstatus $24,900
27. 2003-02-10
    historical
28. 2003-02-09
    listed $24,900
29. 1997-07-15
    soldstatus $39,900
30. 1995-03-01
    soldstatus $19,500
31. 1985-04-02
    soldstatus $33,000
32. 1980-09-01
    soldstatus $24,567

ⓘ 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: $2,021 · $168/mo
• Projected year-2 tax: $2,141 · $178/mo
• Expected delta: +$120/yr (+$10/mo · 5.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 17 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: $15,573
• − Mortgage interest: −$8,117
• − Property taxes: −$2,021
• − Insurance: −$724
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$4,215
• Taxable loss: −$1,996
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $918/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): 44,319
• Household income: $53,321
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1730.0

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 0.66)
• Race & ethnicity: Black 43% White 39% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Dominican 1%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 22% · Canada, Vietnam
• Languages at home: 71% English-only · Spanish 8% French/Haitian/Cajun 4% Arabic 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: ▼ -226.58%
• Current HPI: 274.6336
• Rent YoY: ▲ 4.16%
• 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

+489.8% since first listed

18 events — show timeline

• 2026-06-17 Price Changed $144,900 CBRMLS
• 2026-05-01 Listed $159,900 CBRMLS
• 2018-01-03 Sold (Public Records) $45,000 Public Records
• 2017-12-28 Sold (MLS) $45,000 CBRMLS
• 2017-12-15 Pending — CBRMLS
• 2017-06-22 Listed $58,950 CBRMLS
• 2007-09-27 Sold (MLS) $22,900 CBRMLS
• 2007-09-14 Listing Removed — CBRMLS
• 2007-06-18 Listed $32,900 CBRMLS
• 2003-12-03 Listing Removed — CBRMLS
• 2003-04-07 Listed $85,000 CBRMLS
• 2003-02-25 Sold (MLS) $24,900 CBRMLS
• 2003-02-10 Listing Removed — CBRMLS
• 2003-02-09 Listed $24,900 CBRMLS
• 1997-07-15 Sold (Public Records) $39,900 Public Records
• 1995-03-01 Sold (Public Records) $19,500 Public Records
• 1985-04-02 Sold (Public Records) $33,000 Public Records
• 1980-09-01 Sold (Public Records) $24,567 Public Records

Property tax history

+12.3%/yr

Latest (2024): $2,021 · +1.3% YoY. Source: county tax records.