4141 Karl Rd #310 · Columbus, OH 43224

$95,000

2 bd · 2.0 ba · 966 sqft · Condo public records · 87 Days on market

Built 1985 $98/sqft · 15% above area Est $82k · 15% over $220/mo HOA · 20% 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 +15.9/30.0
• 1% rule +6.9/10.0
• DSCR +4.9/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy living! This 55+ unit has been recently refreshed with new carpet/flooring, fresh paint, and a new stove and microwave. This top floor unit shares walls on only one side, as it's at the end of the 4141 section, and overlooks the nicely maintained grassy area at the back of the building.

Key facts

• New stove
• Fresh paint
• New carpet

Tags

• NEW CARPET
• NEW FLOORING
• FRESH PAINT
• NEW STOVE
• NEW MICROWAVE
• TOP FLOOR UNIT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $46 ($548/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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.
• 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Columbus Alternative High School (math 27% / reading 74%, grade D+, #380 of 781 statewide, top 49%, 758 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 20% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.2%/yr); 101 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $657 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 87 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $95k implies a 65% gain — meaningful room to come down on a strong offer.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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: 1.19% ✓
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• GRM: 7.0

CMA / ARV

• ARV (median comp): $82,467
• List price: $95,000
• Delta: 15.20%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-11,023
• Equity at exit: $14,165

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $268
• Equity at exit: $8,214

Cash invested: $26,600 (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 43224

• Rents YoY: 4.2%
• Active inventory: 101
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,126 high
• Mortgage (P&I): −$498
• Tax from tax record: −$86 /mo · $1,031/yr
• Insurance: −$40
• HOA: −$220
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $46

Break-even live

Break-even rent $1,068

Max offer price $95,000

Occupancy floor 91%

Sensitivity live

Price	-10% $99	-5% $73	+0% $46	+5% $19	+10% $-8
Rent	-10% $-43	-5% $1	+0% $46	+5% $90	+10% $135
Rate	-1.0pp $94	-0.5pp $70	base $46	+0.5pp $21	+1.0pp $-4

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4141 Karl Rd #109 Columbus, OH	2.0	2.0	966	$975	$1.01	25d	1	0.04mi
4117 Karl Rd #304 Columbus, OH	2.0	2.0	966	$1,100	$1.14	14d	1	0.09mi
3998 Stonegate Sq W Columbus, OH	1.0–2.0	1.0	872	$1,100	$1.26	45d	5	0.35mi
4451 Karl Rd Columbus, OH	2.0	1.0	595	$1,148	$1.93	5d	3	0.35mi
1699 Shanley Dr Columbus, OH	1.0–3.0	1.0–2.0	800	$1,159	$1.45	3d	45	0.38mi
1748 Ward Rd Columbus, OH	3.0	1.0	914	$1,425	$1.56	25d	1	0.48mi
4314 Dresden St Columbus, OH	1.0–3.0	1.0–1.5	732	$1,215	$1.66	3d	9	0.61mi
4645 Tamarack Blvd Columbus, OH	1.0	1.0	650	$849	$1.31	23d	1	0.76mi
1449 Elmore Ave Columbus, OH	2.0	1.0	850	$1,025	$1.21	16d	1	0.77mi
4657 Tamarack Blvd Unit 4657-C4 Columbus, OH	1.0	1.0	675	$849	$1.26	45d	1	0.78mi
1517 Elmore Ave Columbus, OH	2.0	1.0	720	$1,600	$2.22	16d	1	0.78mi
4646 Tamarack Blvd Columbus, OH	1.0–4.0	1.0–2.0	989	$1,231	$1.24	25d	1	0.83mi
1691 Red Robin Rd Columbus, OH	2.0	1.0	800	$1,125	$1.41	45d	1	0.83mi
1633 Red Robin Rd Columbus, OH	2.0–3.0	1.0–1.5	1040	$1,215	$1.17	45d	1	0.85mi
4370 Le Marie Ct Columbus, OH	1.0–3.0	1.0–1.5	670	$1,285	$1.92	45d	8	0.87mi
1900 Sunny Ct Columbus, OH	1.0–3.0	1.0–1.5	863	$1,050	$1.22	25d	1	0.93mi
1358 Pauline Ave Columbus, OH	2.0	1.5	930	$1,650	$1.77	25d	1	1.03mi
3971 Far Hills Dr Unit 3971 Columbus, OH	2.0	1.0	945	$1,400	$1.48	5d	1	1.03mi
4881 Kingshill Dr Columbus, OH	1.0–2.0	1.0	680	$1,129	$1.66	4d	10	1.03mi
2162 Fitzroy Dr Unit 2162 A2 Columbus, OH	2.0	1.0	1038	$899	$0.87	25d	1	1.06mi
3461 Gerbert Rd Columbus, OH	3.0	1.0	900	$1,350	$1.50	45d	1	1.10mi
3601 Maize Rd Unit 955-B Columbus, OH	2.0	1.0	800	$975	$1.22	9d	1	1.13mi
965 Fairglade Ln Columbus, OH	2.0	1.0	850	$975	$1.15	45d	1	1.13mi
2300 Fitzroy Pl S Columbus, OH	2.0	1.0	825	$1,149	$1.39	9d	10	1.15mi
4185 Indianola Ave Columbus, OH	2.0	1.0	957	$1,350	$1.41	46d	1	1.15mi
4183 Indianola Ave Unit 4185 Indianola Columbus, OH	2.0	1.0	957	$1,350	$1.41	45d	1	1.15mi
4979 Kingshill Dr Columbus, OH	1.0–2.0	1.0	639	$1,200	$1.88	5d	25	1.18mi
3762 Beulah Rd Columbus, OH	3.0	2.0	825	$2,100	$2.55	45d	1	1.18mi
3709 Beulah Rd Unit A Columbus, OH	2.0	1.0	864	$975	$1.13	19d	1	1.21mi
3607 Cleveland Ave Columbus, OH	1.0	1.0	800	$825	$1.03	12d	1	1.22mi
854 Moon Rd Columbus, OH	2.0	1.0	864	$799	$0.92	21d	1	1.22mi
2175 Ormond Ave Columbus, OH	1.0	1.0	528	$950	$1.80	45d	1	1.22mi
3788 Cleveland Ave Columbus, OH	1.0	1.0	725	$805	$1.11	12d	12	1.28mi
3617 Beulah Rd Columbus, OH	2.0	1.0	900	$1,124	$1.25	25d	1	1.28mi
3327 McGuffey Rd Columbus, OH	3.0	1.0	1100	$1,335	$1.21	9d	1	1.30mi
4224 Concord Ln Columbus, OH	1.0–2.0	1.0	962	$1,200	$1.25	45d	1	1.32mi
2419 Belcher Dr Unit 2419 Columbus, OH	2.0	1.0	1038	$950	$0.92	45d	1	1.32mi
2132 Elmore Ave Columbus, OH	3.0	1.0	1000	$1,245	$1.25	25d	1	1.34mi
3421-3431 Maize Rd Unit 3421-A Columbus, OH	2.0	1.5	960	$1,295	$1.35	16d	1	1.36mi
4241 Cleveland Ave Unit 1 Columbus, OH	2.0	1.0	1100	$1,200	$1.09	45d	1	1.36mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $95,000 Active 87 DOM
2. 2026-06-18
   days on market $95,000 Active 84 DOM
3. 2026-06-17
   days on market $95,000 Active 83 DOM
4. 2026-06-16
   days on market $95,000 Active 82 DOM
5. 2026-06-15
   days on market $95,000 Active 81 DOM
6. 2026-06-13
   days on market $95,000 Active 79 DOM
7. 2026-06-13
   days on market $95,000 Active 78 DOM
8. 2026-06-09
   days on market $95,000 Active 75 DOM
9. 2026-06-08
   days on market $95,000 Active 74 DOM
10. 2026-06-07
    days on market $95,000 Active 73 DOM
11. 2026-06-05
    days on market $95,000 Active 70 DOM
12. 2026-06-03
    days on market $95,000 Active 69 DOM
13. 2026-06-02
    days on market $95,000 Active 68 DOM
14. 2026-06-01
    days on market $95,000 Active 67 DOM
15. 2026-05-31
    days on market $95,000 Active 66 DOM
16. 2026-03-26
    listed $105,000 Active 303-char remark

    Show marketing remark (303 chars)

    Welcome to easy living! This 55+ unit has been recently refreshed with new carpet/flooring, fresh paint, and a new stove and microwave. This top floor unit shares walls on only one side, as it's at the end of the 4141 section, and overlooks the nicely maintained grassy area at the back of the building.

17. 2004-08-05
    soldstatus $57,500
18. 2004-07-28
    soldstatus $57,500 272-char remark

    Show marketing remark (272 chars)

    MOTIVATED SELLER. Peaceful balcony view of Ol' Glory waving o'er grass/trees make this end unit hard to beat!Non-smoking owner. Tiffany lamp over kitchen bar w/ parquet kickplate. Upgraded appls stay incl full-sized wash/dry. 3 speed ceiling fans in LR/MBR. Custom drapes.

19. 2004-07-24
    historical 272-char remark

    Show marketing remark (272 chars)

    MOTIVATED SELLER. Peaceful balcony view of Ol' Glory waving o'er grass/trees make this end unit hard to beat!Non-smoking owner. Tiffany lamp over kitchen bar w/ parquet kickplate. Upgraded appls stay incl full-sized wash/dry. 3 speed ceiling fans in LR/MBR. Custom drapes.

20. 2003-10-29
    listed $57,500 272-char remark

    Show marketing remark (272 chars)

    MOTIVATED SELLER. Peaceful balcony view of Ol' Glory waving o'er grass/trees make this end unit hard to beat!Non-smoking owner. Tiffany lamp over kitchen bar w/ parquet kickplate. Upgraded appls stay incl full-sized wash/dry. 3 speed ceiling fans in LR/MBR. Custom drapes.

21. 2003-07-21
    historical
22. 2002-11-02
    listed $59,900
23. 1990-04-24
    soldstatus $53,900

ⓘ 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: $1,031 · $86/mo
• Projected year-2 tax: $1,256 · $105/mo
• Expected delta: +$226/yr (+$19/mo · 21.9%)

ⓘ 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 ≥99°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,509
• − Mortgage interest: −$5,321
• − Property taxes: −$1,031
• − Insurance: −$475
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − HOA: −$2,640
• − Depreciation: −$2,764
• Taxable loss: −$883
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $760/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): 44,319
• Household income: $53,321
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1730.0

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: Black 43% White 39% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Dominican 1%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 22% · Canada, Vietnam
• Languages at home: 71% English-only · Spanish 8% French/Haitian/Cajun 4% Arabic 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: ▼ -226.58%
• Current HPI: 274.6336
• Rent YoY: ▲ 4.16%
• 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

+94.8% since first listed

8 events — show timeline

• 2026-03-26 Listed $105,000 CBRMLS
• 2004-08-05 Sold (Public Records) $57,500 Public Records
• 2004-07-28 Sold (MLS) $57,500 CBRMLS
• 2004-07-24 Listing Removed — CBRMLS
• 2003-10-29 Listed $57,500 CBRMLS
• 2003-07-21 Listing Removed — CBRMLS
• 2002-11-02 Listed $59,900 CBRMLS
• 1990-04-24 Sold (Public Records) $53,900 Public Records

Property tax history

+6.3%/yr

Latest (2024): $1,031 · +1.3% YoY. Source: county tax records.