289 Slippery Elm Dr · Columbus, OH 43004

$210,000

2 bd · 1.5 ba · 1,470 sqft · Condo public records · 36 Days on market

Built 2005 $143/sqft · at area comps Est $205k · at est. $222/mo HOA · 11% of rent

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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 +11.4/30.0
• ARV discount +6.4/15.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready condo at Waggoner Park! Entry level features kitchen with stainless steel appliances & an open living space! Upstairs you'll find the full bath, two bedrooms and walk in closet in the primary bedroom. Relax downstairs in the large finished basement with a half bath. Updates include: New vinyl plank floors on first floor, second floor and stairs in 2022. All new blinds and new vanity in half bath in 2023. Complex offers access to a clubhouse, 2 gyms and 2 pools! Close to 270!

Key facts

• Updated full bath
• Open living space
• New closet organizer

Tags

• STAINLESS STEEL APPLIANCES
• OPEN LIVING SPACE
• WALK IN CLOSET
• NEW CLOSET ORGANIZER
• UPDATED FULL BATH
• LARGE FINISHED BASEMENT

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $222; HOA fee covers lawn care, insurance, trash, and snow removal; Community amenities: clubhouse, fitness facility, pool, sidewalks

Exterior

• Utilities: Public water; Public sewer
• Home design: Condominium; Two levels; Built in 2005; 2+ shared walls; no one above or below
• Exterior features: Poured foundation

Interior

• Flooring: Wood flooring; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom (total 2 bathrooms / 1.5)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Insulated windows throughout; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-73 ($-872/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (2.6% below list).
• Recommended offer: $197k (6.1% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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.
• Licking Heights Local (rural): math 37% / reading 50% proficiency, ranked #493 of 656 in OH (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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

• It's been on market 36 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $197,169 (6.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 8.6

CMA / ARV

• ARV (median comp): $205,016
• List price: $210,000
• Delta: 2.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.35×
• Total profit: $-38,478
• Equity at exit: $31,312

10-year hold

• IRR: -10.9%
• Equity multiple: 0.34×
• Total profit: $-38,745
• Equity at exit: $18,157

Cash invested: $58,800 (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 43004

• Home prices YoY: -33.6%
• Active inventory: 74
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,045 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$278 /mo · $3,333/yr
• Insurance: −$88
• HOA: −$222
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-73

Break-even live

Break-even rent $2,137

Max offer price $197,169

Occupancy floor 99%

Sensitivity live

Price	-10% $46	-5% $-13	+0% $-73	+5% $-132	+10% $-192
Rent	-10% $-234	-5% $-153	+0% $-73	+5% $8	+10% $89
Rate	-1.0pp $33	-0.5pp $-19	base $-73	+0.5pp $-127	+1.0pp $-182

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 Silver Maple Dr Blacklick, OH	3.0	2.5	1632	$1,950	$1.19	13d	1	0.02mi
433 Scandia St Blacklick, OH	3.0	2.5	1634	$2,555	$1.56	17d	1	0.20mi
8352 E Broad St Blacklick, OH	1.0–2.0	1.0–2.0	939	$1,745	$1.86	2d	13	0.52mi
860 Jefferson Chase Way Blacklick, OH	1.0–3.0	1.0–2.5	1004	$1,523	$1.52	2d	27	0.81mi
8674 Aconite Dr Blacklick, OH	3.0	2.0	1678	$2,241	$1.34	44d	1	0.83mi
7741 Sherridon Dr Blacklick, OH	3.0	2.5	1849	$2,200	$1.19	44d	1	0.95mi
390 Golden Valley Dr Pataskala, OH	3.0	2.5	1648	$2,300	$1.40	44d	1	1.18mi
228 Stonemast Loop Pataskala, OH	3.0	1.5	1802	$2,430	$1.35	2d	1	1.18mi
1101 Pin Oak Ln Blacklick, OH	2.0	2.0	1127	$1,957	$1.74	2d	2	1.21mi
7774 Jefferson Run #103 Blacklick, OH	3.0	2.5	1486	$2,275	$1.53	24d	1	1.33mi
39 Cotterrew Dr Blacklick, OH	1.0–3.0	1.0–2.0	930	$1,339	$1.44	2d	7	1.33mi
8180 Royal Elm Dr Blacklick, OH	3.0	2.5	1517	$1,950	$1.29	5d	1	1.41mi
1383 Pansy St #200 Blacklick, OH	3.0	1.5	1200	$2,100	$1.75	2d	1	1.46mi
199 Macandrews Way Blacklick, OH	2.0	1.5	896	$1,497	$1.67	18d	1	1.47mi

HOA detail condo

• Monthly dues: $222 · $2,664/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $210,000 Active 36 DOM
2. 2026-06-17
   days on market $210,000 Active 35 DOM
3. 2026-06-16
   days on market $210,000 Active 34 DOM
4. 2026-06-15
   days on market $210,000 Active 33 DOM
5. 2026-06-13
   days on market $210,000 Active 31 DOM
6. 2026-06-13
   days on market $210,000 Active 30 DOM
7. 2026-06-09
   days on market $210,000 Active 27 DOM
8. 2026-06-08
   days on market $210,000 Active 26 DOM
9. 2026-06-07
   pricedays on market $210,000 Active 25 DOM
10. 2026-06-03
    days on market $215,000 Active 21 DOM
11. 2026-06-02
    days on market $215,000 Active 20 DOM
12. 2026-06-01
    days on market $215,000 Active 19 DOM
13. 2026-05-31
    days on market $215,000 Active 18 DOM
14. 2026-05-13
    listed $215,000 Active 715-char remark
15. 2024-03-06
    soldstatus $206,000
16. 2024-03-01
    soldstatus $206,000 Closed 500-char remark

    Show marketing remark (500 chars)

    Move in ready condo at Waggoner Park! Entry level features kitchen with stainless steel appliances & an open living space! Upstairs you'll find the full bath, two bedrooms and walk in closet in the primary bedroom. Relax downstairs in the large finished basement with a half bath. Updates include: New vinyl plank floors on first floor, second floor and stairs in 2022. All new blinds and new vanity in half bath in 2023. Complex offers access to a clubhouse, 2 gyms and 2 pools! Close to 270!

17. 2024-02-04
    historical Contingent Finance and Inspection 500-char remark

    Show marketing remark (500 chars)

    Move in ready condo at Waggoner Park! Entry level features kitchen with stainless steel appliances & an open living space! Upstairs you'll find the full bath, two bedrooms and walk in closet in the primary bedroom. Relax downstairs in the large finished basement with a half bath. Updates include: New vinyl plank floors on first floor, second floor and stairs in 2022. All new blinds and new vanity in half bath in 2023. Complex offers access to a clubhouse, 2 gyms and 2 pools! Close to 270!

18. 2024-02-02
    listed $206,000 Active 500-char remark

    Show marketing remark (500 chars)

    Move in ready condo at Waggoner Park! Entry level features kitchen with stainless steel appliances & an open living space! Upstairs you'll find the full bath, two bedrooms and walk in closet in the primary bedroom. Relax downstairs in the large finished basement with a half bath. Updates include: New vinyl plank floors on first floor, second floor and stairs in 2022. All new blinds and new vanity in half bath in 2023. Complex offers access to a clubhouse, 2 gyms and 2 pools! Close to 270!

19. 2024-02-01
    historical $206,000 500-char remark

    Show marketing remark (500 chars)

    Move in ready condo at Waggoner Park! Entry level features kitchen with stainless steel appliances & an open living space! Upstairs you'll find the full bath, two bedrooms and walk in closet in the primary bedroom. Relax downstairs in the large finished basement with a half bath. Updates include: New vinyl plank floors on first floor, second floor and stairs in 2022. All new blinds and new vanity in half bath in 2023. Complex offers access to a clubhouse, 2 gyms and 2 pools! Close to 270!

20. 2017-07-06
    soldstatus $93,000
21. 2017-06-30
    soldstatus $93,000 Closed

    Show marketing remark (590 chars)

    OK all you HGTV buyers out there. . this one is for you! Freshly painted, Stainless appliances all remain, New ''wood'' vinyl flooring in the great room, kitchen and eating Space. Tiled shower walls in full bath with granite counter. New faucets in both bathrooms and kitchen. New A/C in 2016! Waggoner Park community offers the convenience of inground pool, sidewalks, clubhouse for parties, fitness facility. Seller is allowing showings through the holiday weekend so you can honor those we remember at this time, and then submit any offers by Tuesday Morning (May 30th) at 10am. Enjoy!

22. 2017-06-02
    historical Contingent Finance and Inspection

    Show marketing remark (590 chars)

    OK all you HGTV buyers out there. . this one is for you! Freshly painted, Stainless appliances all remain, New ''wood'' vinyl flooring in the great room, kitchen and eating Space. Tiled shower walls in full bath with granite counter. New faucets in both bathrooms and kitchen. New A/C in 2016! Waggoner Park community offers the convenience of inground pool, sidewalks, clubhouse for parties, fitness facility. Seller is allowing showings through the holiday weekend so you can honor those we remember at this time, and then submit any offers by Tuesday Morning (May 30th) at 10am. Enjoy!

23. 2017-05-28
    listed $95,000 Active

    Show marketing remark (590 chars)

    OK all you HGTV buyers out there. . this one is for you! Freshly painted, Stainless appliances all remain, New ''wood'' vinyl flooring in the great room, kitchen and eating Space. Tiled shower walls in full bath with granite counter. New faucets in both bathrooms and kitchen. New A/C in 2016! Waggoner Park community offers the convenience of inground pool, sidewalks, clubhouse for parties, fitness facility. Seller is allowing showings through the holiday weekend so you can honor those we remember at this time, and then submit any offers by Tuesday Morning (May 30th) at 10am. Enjoy!

ⓘ 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: $3,333 · $278/mo
• Projected year-2 tax: $3,333 · $278/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,545
• − Mortgage interest: −$11,763
• − Property taxes: −$3,333
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − HOA: −$2,664
• − Depreciation: −$6,109
• Taxable loss: −$4,302
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $161/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: Licking Heights Local
• NCES district ID: 3904800
• Math proficiency: 37% ▼ -27.00%
• Reading proficiency: 50% ▼ -14.00%
• Median HH income: $68,105
• Composite: 39.08/100
• National rank: #4050
• State rank: #493 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): 31,477
• Household income: $101,175
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 305.0

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: White 51% Black 26% Asian 11% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Slovak 2% Romanian 2% Italian 1%
• Foreign-born: 19% · India, Canada, China
• Languages at home: 73% English-only · Other Indo-European 9% Spanish 4% Russian/Polish/Slavic 2%

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: ▼ -113.78%
• Current HPI: 224.9014
• Rent YoY: —
• 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

+121.1% since first listed

11 events — show timeline

• 2026-06-03 Price Changed $210,000 CBRMLS
• 2026-05-13 Listed $215,000 CBRMLS
• 2024-03-06 Sold (Public Records) $206,000 Public Records
• 2024-03-01 Sold (MLS) $206,000 CBRMLS
• 2024-02-04 Contingent — CBRMLS
• 2024-02-02 Listed $206,000 CBRMLS
• 2024-02-01 Coming Soon $206,000 CBRMLS
• 2017-07-06 Sold (Public Records) $93,000 Public Records
• 2017-06-30 Sold (MLS) $93,000 CBRMLS
• 2017-06-02 Contingent — CBRMLS
• 2017-05-28 Listed $95,000 CBRMLS

Property tax history

+8.0%/yr

Latest (2024): $3,333 · -2.6% YoY. Source: county tax records.