288 Midland Ave · Columbus, OH 43223

$1

3 bd · 1.0 ba · 1,306 sqft · SingleFamily public records

Built 1928 5,227 sqft lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 1318305.8% 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 (+4.6%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 36% of the median local income ($47k/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 $0 of loan paydown is wiped out by about $0 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 $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. Built in 1928 — 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. 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?
5. 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.
6. 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.
7. 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: 139062.00% ✓
• Cap rate: 1318305.76%
• Cash-on-cash: 4708212.38%
• DSCR: 209489.96
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $161,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
283 Whitethorne Ave	0.04mi	3/1.5	1,376 (+5%)	1mo	$170,000	$124	86
479 Nashoba Ave	0.42mi	3/1.0	1,332 (+2%)	2mo	$119,000	$89	76
1930 Floral Ave	0.43mi	3/1.5	1,328 (+2%)	1mo	$220,000	$166	74
237 Midland Ave	0.08mi	4/1.0 (+1)	1,452 (+11%)	1mo	$159,000	$110	72
321 Belvidere Ave	0.13mi	3/1.0	1,494 (+14%)	1mo	$85,000	$57	69
246 S Terrace Ave	0.47mi	3/1.0	1,232 (-6%)	0mo	$205,000	$166	68
106 S Oakley Ave	0.38mi	2/1.0 (-1)	1,244 (-5%)	2mo	$99,000	$80	68
1924 Sullivant Ave	0.39mi	3/2.5	1,360 (+4%)	2mo	$210,000	$154	67
468 S Ogden Ave	0.72mi	3/1.5	1,316 (+1%)	1mo	$180,000	$137	62
427 S Richardson Ave	0.60mi	4/1.0 (+1)	1,378 (+6%)	0mo	$160,000	$116	58
229 S Richardson Ave	0.57mi	3/1.0	1,168 (-11%)	1mo	$165,000	$141	55
416 S Burgess Ave	0.63mi	2/1.0 (-1)	1,210 (-7%)	0mo	$134,900	$111	53

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: —
• Equity multiple: 258139.82×
• Total profit: $72,279
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 581525.37×
• Total profit: $162,827
• Equity at exit: $0

Cash invested: $0 (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

Monthly cashflow live

• Estimated rent: $1,391 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $1,099

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	43d	1	0.10mi
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	16d	1	0.11mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	43d	1	0.23mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	19d	1	0.25mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.25mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	43d	1	0.26mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	23d	1	0.34mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	19d	1	0.35mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.35mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.35mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.39mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	43d	1	0.46mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	19d	1	0.51mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	3d	1	0.52mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	43d	1	0.57mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	23d	1	0.60mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.60mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	43d	1	0.62mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	23d	1	0.62mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	23d	1	0.62mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	10d	1	0.64mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	23d	1	0.68mi
174 N Wheatland Ave Columbus, OH	2.0	1.0	917	$1,046	$1.14	3d	3	0.71mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	0.72mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	12d	1	0.73mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	43d	1	0.74mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	7d	1	0.75mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.75mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	23d	1	0.77mi
436 Catherine St Columbus, OH	2.0	1.5	960	$1,300	$1.35	7d	1	0.79mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	0.79mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.79mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	3d	1	0.80mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	43d	1	0.80mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	43d	1	0.80mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	43d	1	0.82mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	2d	1	0.83mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	43d	1	0.83mi
87-97 N Burgess Ave Unit 93 Columbus, OH	2.0	1.5	1050	$1,250	$1.19	23d	1	0.84mi
87-97 N Burgess Ave Columbus, OH	2.0	1.0	950	$1,250	$1.32	43d	1	0.84mi

Listing history 1 events

1. 2026-06-18
   listed $1 Pending

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥100°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,687
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$0
• Taxable income: $14,017
• Est. tax owed @ 24.0%: −$3,364
• After-tax cash flow: $9,819/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): 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

Property tax history

+12.4%/yr

Latest (2024): $2,192 · -0.9% YoY. Source: county tax records.