1288 Hart Rd · Columbus, OH 43223

$83,500

1 bd · 1.0 ba · 567 sqft · SingleFamily public records · 70 Days on market

Built 1939 9,583 sqft lot $147/sqft · 35% below area Est $128k · 35% under

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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 +17.2/30.0
• ARV discount +15.0/15.0
• 1% rule +6.9/10.0
• DSCR +5.4/10.0
• 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

Listing remarks MLS

1 bedroom bungalow with easy one level living. Nice flat city lot with an oversized detached 2 car garage. Make this one your own. Call you Realtor today for your showing.

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1939

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $60 ($717/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $84k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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.
• 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; 8 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $577 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 70 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,490 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.19% ✓
• Cap rate: 7.15%
• Cash-on-cash: 3.07%
• DSCR: 1.14
• GRM: 7.0

CMA / ARV

• ARV (median comp): $127,919
• List price: $83,500
• Delta: -34.72%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1929 Little Ave	0.70mi	2/1.0 (+1)	624 (+10%)	23mo	$125,000	$200	26

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: -9.1%
• Equity multiple: 0.66×
• Total profit: $-7,984
• Equity at exit: $12,450

10-year hold

• IRR: 2.9%
• Equity multiple: 1.23×
• Total profit: $5,311
• Equity at exit: $7,220

Cash invested: $23,380 (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: 7.0×

Monthly cashflow live

• Estimated rent: $993 high
• Mortgage (P&I): −$438
• Tax from tax record: −$252 /mo · $3,025/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $60

Break-even live

Break-even rent $917

Max offer price $83,500

Occupancy floor 89%

Sensitivity live

Price	-10% $107	-5% $83	+0% $60	+5% $36	+10% $13
Rent	-10% $-19	-5% $21	+0% $60	+5% $99	+10% $138
Rate	-1.0pp $102	-0.5pp $81	base $60	+0.5pp $38	+1.0pp $16

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: $20,875
• Closing costs: $2,505
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1475 Stimmel Rd Columbus, OH	1.0–4.0	1.0	868	$1,015	$1.17	17d	1	0.55mi
2365 Hardy Pkwy Grove City, OH	2.0	1.0–2.0	810	$1,172	$1.45	2d	2	1.19mi
810 Harrisburg Pike Columbus, OH	—	1.0	480	$795	$1.66	24d	1	1.19mi
802 Harrisburg Pike Columbus, OH	—	1.0	500	$795	$1.59	44d	1	1.22mi
800 Harrisburg Pike Columbus, OH	—	1.0	480	$795	$1.66	44d	1	1.24mi
1231 Woodbrook Ct Columbus, OH	1.0	1.0	718	$925	$1.29	18d	1	1.37mi
1773 W Mound St Unit 1799 Columbus, OH	1.0	1.0	700	$900	$1.29	44d	1	1.39mi
1773 W Mound St Unit 1803 Columbus, OH	1.0	1.0	700	$925	$1.32	44d	1	1.39mi

Listing history 12 events

1. 2026-05-19
   price $83,500 171-char remark

   Show marketing remark (171 chars)

   1 bedroom bungalow with easy one level living. Nice flat city lot with an oversized detached 2 car garage. Make this one your own. Call you Realtor today for your showing.

2. 2026-04-21
   price $88,500 171-char remark

   Show marketing remark (171 chars)

   1 bedroom bungalow with easy one level living. Nice flat city lot with an oversized detached 2 car garage. Make this one your own. Call you Realtor today for your showing.

3. 2026-03-18
   listed $93,500 Active 171-char remark

   Show marketing remark (171 chars)

   1 bedroom bungalow with easy one level living. Nice flat city lot with an oversized detached 2 car garage. Make this one your own. Call you Realtor today for your showing.

4. 2024-04-03
   historical
5. 2024-01-26
   listed $125,000 Active
6. 2024-01-22
   historical
7. 2022-09-08
   soldstatus $90,000
8. 2022-09-07
   soldstatus $90,000 Closed
9. 2022-09-02
   status Pending
10. 2022-07-28
    historical Contingent Finance and Inspection
11. 2022-07-15
    listed $90,000 Active
12. 1994-05-13
    soldstatus $12,000

ⓘ 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: $3,025 · $252/mo
• Projected year-2 tax: $3,025 · $252/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,917
• − Mortgage interest: −$4,677
• − Property taxes: −$3,025
• − Insurance: −$418
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$2,429
• Taxable loss: −$539
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $847/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

+595.8% since first listed

12 events — show timeline

• 2026-05-19 Price Changed $83,500 CBRMLS
• 2026-04-21 Price Changed $88,500 CBRMLS
• 2026-03-18 Listed $93,500 CBRMLS
• 2024-04-03 Listing Removed — CBRMLS
• 2024-01-26 Listed $125,000 CBRMLS
• 2024-01-22 Coming Soon — CBRMLS
• 2022-09-08 Sold (Public Records) $90,000 Public Records
• 2022-09-07 Sold (MLS) $90,000 CBRMLS
• 2022-09-02 Pending — CBRMLS
• 2022-07-28 Contingent — CBRMLS
• 2022-07-15 Listed $90,000 CBRMLS
• 1994-05-13 Sold (Public Records) $12,000 Public Records

Property tax history

+11.1%/yr

Latest (2024): $3,025 · +54.8% YoY. Source: county tax records.