5156 Locust Post Ln · Columbus, OH 43230

$199,900

3 bd · 2.0 ba · 1,633 sqft · SingleFamily public records · 3 Days on market

Built 1984 7,405 sqft lot $122/sqft · 48% below area Est $381k · 48% 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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +6.0/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Live Public Reserve Real Estate Auction opportunity as well as online bidding available. The list price reflects the Reserve Bid at auction. The live and simultaneous online auction will begin to end June 20th, 2026 at 1:00pm, The Home will be open at 11am for preview and bidder registration. Auction Terms & Conditions provided by request and on the auction website. The property sells AS-IS without contingencies. This beautiful Columbus home is in the Westerville School district and has 3 bedrooms, 2 full baths and a full size basement. The open floor plan joins the kitchen with the formal living room, dining room and TV room with sliding door to the back yard patio. .. all with cath

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1984

Property features AI

Finance

• Other: Listed with Cutler Real Estate; Special listing conditions: Auction, Standard

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Built in 1984; No shared/common walls
• Construction: Block foundation
• Exterior features: Patio

Interior

• Bedrooms: 3 main-level bedrooms
• Flooring: Laminate flooring; Carpeted areas
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced-air heating
• Interior features: Insulated windows; Full basement; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 7.8% 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.
• Westerville City (suburban): math 54% / reading 63% proficiency, ranked #276 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.9%/yr); 103 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $6k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $200k implies a 149% gain — meaningful room to come down on a strong offer.

Recommended offer $199,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.10% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 7.6

CMA / ARV

• ARV (median comp): $381,106
• List price: $199,900
• Delta: -47.55%
• 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
4292 Timber Valley Dr	0.13mi	3/2.5	1,621 (-1%)	8mo	$370,000	$228	84
4269 Hanging Rock Ct	0.11mi	3/2.5	1,754 (+7%)	1mo	$440,000	$251	80
5232 Freedom Ridge Dr	0.34mi	3/2.0	1,478 (-10%)	3mo	$346,000	$234	66
4336 Blue River Ct	0.31mi	3/2.0	1,770 (+8%)	9mo	$340,000	$192	64
4252 Park City Ct	0.43mi	3/3.5	1,696 (+4%)	9mo	$406,000	$239	60
1380 Hanbury Ct	0.57mi	3/2.5	1,698 (+4%)	9mo	$370,000	$218	57
167 Greenbank Rd	0.71mi	3/2.5	1,700 (+4%)	2mo	$415,000	$244	56
4158 Woodville Dr	0.40mi	3/2.5	1,852 (+13%)	2mo	$409,000	$221	55
324 Meadowside Ct	0.69mi	3/2.5	1,605 (-2%)	10mo	$338,000	$211	55
164 Greenbank Rd	0.69mi	3/2.5	1,736 (+6%)	2mo	$303,000	$175	53
4338 Big Sky Ct	0.67mi	3/2.0	1,498 (-8%)	4mo	$372,500	$249	52
181 Greenbank Rd	0.69mi	3/1.5	1,512 (-7%)	7mo	$365,000	$241	48

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-14,819
• Equity at exit: $29,806

10-year hold

• IRR: 3.7%
• Equity multiple: 1.28×
• Total profit: $15,737
• Equity at exit: $17,284

Cash invested: $55,972 (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 43230

• Rents YoY: 3.9%
• Active inventory: 103
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$360 /mo · $4,315/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $243

Break-even live

Break-even rent $1,888

Max offer price $199,900

Occupancy floor 84%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4965 Cherrybluff Ct Columbus, OH	3.0	2.5	1200	$1,700	$1.42	7d	6	0.37mi
4020 Leather Stocking Trl Columbus, OH	3.0	2.5	1776	$2,797	$1.57	1d	1	0.39mi
1390 Christopher Wren Dr Columbus, OH	1.0–2.0	1.0–2.5	1046	$2,022	$1.93	1d	16	0.69mi
4150 Eagle Head Dr Columbus, OH	4.0	3.5	2242	$2,850	$1.27	43d	1	0.74mi
4860 Wendler Blvd Columbus, OH	3.0	1.5	1206	$1,808	$1.50	17d	1	1.11mi
5500 Hildebrand Rd Columbus, OH	1.0–3.0	1.0–2.0	917	$1,890	$2.06	43d	1	1.23mi
3450 Halpern St Columbus, OH	3.0	2.0	1405	$2,150	$1.53	23d	1	1.34mi
700 Vista Dr Columbus, OH	1.0–2.0	1.0–2.0	1214	$2,199	$1.81	2d	12	1.35mi
4150 Silver Springs Ln Columbus, OH	1.0–3.0	1.0–2.5	1104	$2,270	$2.06	1d	46	1.36mi
4701 Rexwood Dr Columbus, OH	1.0–3.0	1.0–2.5	1222	$2,595	$2.12	1d	14	1.36mi
4120 Quentin Blvd Columbus, OH	1.0–2.0	1.0–2.0	915	$1,650	$1.80	2d	33	1.50mi

Listing history 4 events

1. 2026-05-15
   status Pending 714-char remark
2. 2026-05-11
   listed $199,900 Active 714-char remark
3. 2026-05-05
   historical $199,900 714-char remark
4. 1984-12-01
   soldstatus $80,200

ⓘ 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: $4,315 · $360/mo
• Projected year-2 tax: $4,315 · $360/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 ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $26,345
• − Mortgage interest: −$11,198
• − Property taxes: −$4,315
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − Depreciation: −$5,815
• Taxable loss: −$198
• Est. tax savings @ 24.0%: +$47
• After-tax cash flow: $2,966/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: Westerville City
• NCES district ID: 3904504
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $72,017
• Composite: 51.9/100
• National rank: #1649
• State rank: #276 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): 58,076
• Household income: $91,424
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1879.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 19% Two or more races 6% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% 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: ▼ -254.58%
• Current HPI: 257.0667
• Rent YoY: ▲ 3.89%
• 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

+149.3% since first listed

4 events — show timeline

• 2026-05-15 Pending — CBRMLS
• 2026-05-11 Listed $199,900 CBRMLS
• 2026-05-05 Coming Soon $199,900 CBRMLS
• 1984-12-01 Sold (Public Records) $80,200 Public Records

Property tax history

+3.0%/yr

Latest (2024): $4,315 · +1.7% YoY. Source: county tax records.