1556 Obetz Ave · Obetz, OH 43207

$174,900

3 bd · 1.0 ba · 1,234 sqft · SingleFamily public records · 46 Days on market

Built 1928 2,613 sqft lot $142/sqft · 30% below area Est $249k · 30% under

---

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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious two-story home situated on four parcels, offering plenty of room to grow and invest. This property includes a detached two-car garage and is full of potential for the right buyer. The home is in need of rehabilitation and is being sold as-is, making it an excellent opportunity for investors or buyers looking to customize their own space. Sale is subject to probate. Cash or conventional financing only. Conveniently located near a charming small-town setting, with close proximity to a family-owned grocery store, local ice cream and pizza shop, as well as community parks and recreation centers. Enjoy the benefits of a quiet neighborhood while being just minutes from everyday essential

Key facts

• Four parcels
• Community parks
• Two story home

Tags

• TWO STORY HOME
• DETACHED GARAGE
• FOUR PARCELS
• QUIET NEIGHBORHOOD
• COMMUNITY PARKS

Property features AI

Finance

• Financial info: $2,649 annual tax (2024)

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1928; No common walls
• Construction: Built 1928
• Exterior features: Block or other foundation

Interior

• Bathrooms: 1 full bathroom
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.6% in Obetz — 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 63/100 on livability (#849 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Hamilton Local (suburban): math 43% / reading 56% proficiency, ranked #445 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 196 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 34% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k 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 46 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $175k implies a 218% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1928 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.02% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $248,544
• List price: $174,900
• Delta: -29.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1722 Obetz Ave	0.25mi	3/1.0	1,248 (+1%)	2mo	$133,650	$107	84
1559 Obetz Ave	0.02mi	3/2.5	1,320 (+7%)	0mo	$299,999	$227	81
4345 Mathews Ave	0.30mi	3/1.0	1,137 (-8%)	2mo	$115,000	$101	71
4417 Lancaster Ave	0.44mi	3/2.0	1,243 (+1%)	5mo	$235,000	$189	70
1640 Obetz Ave	0.11mi	2/1.0 (-1)	1,120 (-9%)	8mo	$200,000	$179	68
1710 Obetz Ave	0.23mi	3/2.0	1,110 (-10%)	3mo	$139,000	$125	66
1592 Magoffin Ave	0.52mi	3/2.0	1,252 (+2%)	5mo	$247,000	$197	65
1805 Meriline Ave	0.36mi	3/2.0	1,152 (-7%)	9mo	$259,900	$226	61
4382 Catamaran Dr	0.65mi	3/2.0	1,266 (+3%)	1mo	$250,000	$197	60
1101 Meadow Ln	0.66mi	3/1.0	1,120 (-9%)	1mo	$249,900	$223	53
3991 Graves Dr	0.46mi	3/2.5	1,385 (+12%)	5mo	$265,000	$191	48
1076 Rendezvous Ln	0.74mi	3/1.5	1,408 (+14%)	1mo	$274,750	$195	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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-17,236
• Equity at exit: $26,078

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-3,965
• Equity at exit: $15,122

Cash invested: $48,972 (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 43207

• Rents YoY: 2.3%
• Active inventory: 196
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$917
• Tax from tax record: −$221 /mo · $2,649/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $193

Break-even live

Break-even rent $1,533

Max offer price $174,900

Occupancy floor 84%

Sensitivity live

Price	-10% $292	-5% $242	+0% $193	+5% $143	+10% $94
Rent	-10% $53	-5% $123	+0% $193	+5% $263	+10% $333
Rate	-1.0pp $281	-0.5pp $237	base $193	+0.5pp $148	+1.0pp $101

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4468 Harston Ave Columbus, OH	3.0	2.0	1207	$1,995	$1.65	2d	1	0.38mi
1365 Randan Dr Columbus, OH	3.0	2.5	1490	$2,325	$1.56	2d	1	0.44mi
1091 Rendezvous Ln Columbus, OH	3.0	2.5	1452	$1,800	$1.24	44d	1	0.70mi
1259 Caravel Dr Columbus, OH	2.0	1.0	1000	$900	$0.90	18d	1	0.71mi
1074 Tobi Dr Columbus, OH	3.0	1.0	1066	$1,495	$1.40	44d	1	0.75mi
873 Allison Dr Columbus, OH	4.0	2.0	1320	$1,700	$1.29	18d	1	1.04mi
812 Breathitt Ave Columbus, OH	4.0	1.0	1475	$2,040	$1.38	44d	1	1.14mi
1559 Orson Dr Columbus, OH	4.0	2.0	1374	$2,000	$1.46	3d	1	1.37mi
1260 Seward Dr Lockbourne, OH	1.0–2.0	1.0–2.0	945	$1,622	$1.72	3d	35	1.45mi
820 Hilock Rd Columbus, OH	3.0	1.0	1200	$1,640	$1.37	44d	1	1.48mi
1584 Southfield Dr S Columbus, OH	3.0	1.0	934	$1,495	$1.60	4d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $174,900 Active 46 DOM
2. 2026-06-17
   days on market $174,900 Active 45 DOM
3. 2026-06-16
   days on market $174,900 Active 44 DOM
4. 2026-06-15
   days on market $174,900 Active 43 DOM
5. 2026-06-13
   days on market $174,900 Active 41 DOM
6. 2026-06-09
   days on market $174,900 Active 37 DOM
7. 2026-06-08
   days on market $174,900 Active 36 DOM
8. 2026-06-07
   days on market $174,900 Active 35 DOM
9. 2026-06-03
   days on market $174,900 Active 31 DOM
10. 2026-06-02
    days on market $174,900 Active 30 DOM
11. 2026-06-01
    days on market $174,900 Active 29 DOM
12. 2026-05-31
    days on market $174,900 Active 28 DOM
13. 2026-05-14
    price $174,900 749-char remark
14. 2026-05-03
    listed $199,900 Active 749-char remark
15. 1994-03-22
    soldstatus $55,000
16. 1994-03-21
    soldstatus $55,000

ⓘ 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: $2,649 · $221/mo
• Projected year-2 tax: $2,689 · $224/mo
• Expected delta: +$40/yr (+$3/mo · 1.5%)

ⓘ 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 ≥100°F today · 18 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: $21,322
• − Mortgage interest: −$9,797
• − Property taxes: −$2,649
• − Insurance: −$874
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$5,088
• Taxable loss: −$498
• Est. tax savings @ 24.0%: +$120
• After-tax cash flow: $2,434/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: Hamilton Local
• NCES district ID: 3904695
• Math proficiency: 43% ▼ -26.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $48,148
• Composite: 42.14/100
• National rank: #3308
• State rank: #445 of 656 in OH

Livability — Obetz

• Score: 63/100
• State rank: #849
• US rank: #15892

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C+ Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Obetz, OH
• County: Franklin County · 1,351,780 people
• Metro: Columbus, OH
• Population (ZIP): 47,272
• Household income: $63,310
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1679.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -244.33%
• Current HPI: 268.3028
• Rent YoY: ▲ 2.32%
• 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

+218.0% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $174,900 CBRMLS
• 2026-05-03 Listed $199,900 CBRMLS
• 1994-03-22 Sold (Public Records) $55,000 Public Records
• 1994-03-21 Sold (Public Records) $55,000 Public Records

Property tax history

+10.1%/yr

Latest (2024): $2,649 · +1.5% YoY. Source: county tax records.