2256 Perkins Ct Unit P · Columbus, OH 43229

$119,000

2 bd · 1.0 ba · 784 sqft · Condo public records · 2 Days on market

Built 1980 $200/mo HOA · 15% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This condo has been updated with new carpet and paint, as well as newer windows. There is also a full basement. Close to local shopping area. It's a great investment!

Key facts

• New furnace
• Laminate flooring
• New a/c

Tags

• NEW FURNACE
• NEW A/C
• LAMINATE FLOORING
• ROOF ONLY 2 YEARS OLD
• STRONG RENTAL HISTORY

Property features AI

Finance

• HOA & community: Monthly HOA fee of $200 covering lawn care and water; Homeowners association present

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer
• Home design: Condominium; Townhouse structure; Two levels; Built in 1980
• Exterior features: Patio; Fenced yard; Block foundation

Interior

• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate flooring; Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric and hot water heating
• Interior features: Full basement; Insulated and storm windows

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $36 ($437/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 6.7% 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 (+3.3%/yr); 57 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $823 of loan paydown is wiped out by about $4k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $119,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.29% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-16,454
• Equity at exit: $17,743

10-year hold

• IRR: -4.1%
• Equity multiple: 0.72×
• Total profit: $-9,253
• Equity at exit: $10,289

Cash invested: $33,320 (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 43229

• Rents YoY: 3.3%
• Active inventory: 57
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$624
• Tax from tax record: −$121 /mo · $1,447/yr
• Insurance: −$50
• HOA: −$200
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $36

Break-even live

Break-even rent $1,258

Max offer price $119,000

Occupancy floor 92%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2465 Ben Dougan Ln Columbus, OH	1.0	1.0	709	$1,000	$1.41	23d	2	0.31mi
5811 Spring Run Dr Columbus, OH	1.0–2.0	1.0–2.0	847	$1,519	$1.79	1d	31	0.37mi
2380 Pinecrest Dr Columbus, OH	2.0	1.0	900	$1,220	$1.36	14d	2	0.45mi
2608 Christine Blvd Columbus, OH	2.0	1.0	883	$1,195	$1.35	7d	1	0.71mi
1881 Solera Dr Columbus, OH	1.0–2.0	1.0–1.5	1137	$1,475	$1.30	3d	9	0.71mi
3142 Vista View Blvd Columbus, OH	2.0	2.0	949	$1,275	$1.34	2d	1	0.75mi
5726 Beechcroft Rd Unit C Columbus, OH	2.0	1.0	1125	$1,300	$1.16	43d	1	0.76mi
5702 Beechcroft Rd Unit D Columbus, OH	2.0	1.0	810	$1,375	$1.70	23d	1	0.79mi
6785 Oakton Ln Columbus, OH	1.0–2.0	1.0–1.5	875	$1,462	$1.67	2d	6	0.88mi
5650 Knighthood Ln Columbus, OH	2.0	1.0–2.0	1250	$1,540	$1.23	2d	8	0.92mi
1833 Schrock Rd Columbus, OH	1.0–2.0	1.0	700	$1,175	$1.68	3d	5	0.94mi
2325 Marlborough Ct Columbus, OH	2.0	1.0–1.5	1000	$1,475	$1.48	3d	4	0.97mi
6345 Cooper Rd Columbus, OH	1.0–3.0	1.0–2.5	1485	$1,932	$1.30	1d	11	1.07mi
3090 Highcliff Ct Unit 3090 Columbus, OH	2.0	1.5	922	$1,375	$1.49	21d	1	1.11mi
5615 Sierra Ridge Dr Columbus, OH	1.0–3.0	1.0–2.0	833	$1,342	$1.61	1d	40	1.14mi
6797 Spring House Ln Columbus, OH	2.0	1.0	950	$1,124	$1.18	43d	1	1.17mi
1700 Bond Ave Columbus, OH	1.0	1.0	530	$1,089	$2.05	7d	3	1.18mi
6888 Garden Terrace Rd Columbus, OH	2.0	1.0	900	$1,100	$1.22	16d	1	1.23mi
5280 Tamarack Cir E Columbus, OH	3.0	1.0	775	$1,029	$1.33	43d	1	1.35mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-08
   status Pending 507-char remark
2. 2026-05-06
   listed $119,000 Active 507-char remark
3. 2019-11-19
   soldstatus $53,000
4. 2015-10-26
   soldstatus $32,000
5. 2015-10-23
   soldstatus $32,000 Closed 166-char remark

   Show marketing remark (166 chars)

   This condo has been updated with new carpet and paint, as well as newer windows. There is also a full basement. Close to local shopping area. It's a great investment!

6. 2015-10-13
   status Pending 166-char remark

   Show marketing remark (166 chars)

   This condo has been updated with new carpet and paint, as well as newer windows. There is also a full basement. Close to local shopping area. It's a great investment!

7. 2015-09-21
   listed $38,900 Active 166-char remark

   Show marketing remark (166 chars)

   This condo has been updated with new carpet and paint, as well as newer windows. There is also a full basement. Close to local shopping area. It's a great investment!

8. 2007-07-22
   historical
9. 2007-04-17
   listed $59,900
10. 1995-06-20
    soldstatus $28,000

ⓘ 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: $1,447 · $121/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$205/yr (+$17/mo · 14.2%)

ⓘ 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 ≥100°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,656
• − Mortgage interest: −$6,666
• − Property taxes: −$1,447
• − Insurance: −$595
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − HOA: −$2,400
• − Depreciation: −$3,462
• Taxable loss: −$1,419
• Est. tax savings @ 24.0%: +$341
• After-tax cash flow: $778/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): 55,020
• Household income: $57,561
• Rent vs Own: 58.1% rent · 41.9% own
• Severe rent burden: 2835.0

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 0.69)
• Race & ethnicity: Black 44% White 33% Two or more races 13% Hispanic / Latino 12% Asian 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Hispanic 1% Estonian 1%
• Foreign-born: 27% · Canada, India, China
• Languages at home: 69% English-only · Spanish 10% Other Indo-European 5% French/Haitian/Cajun 3%

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: ▼ -236.52%
• Current HPI: 285.6606
• Rent YoY: ▲ 3.29%
• 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

+332.1% since first listed

11 events — show timeline

• 2026-06-05 Sold (MLS) $121,000 CBRMLS
• 2026-05-08 Pending — CBRMLS
• 2026-05-06 Listed $119,000 CBRMLS
• 2019-11-19 Sold (Public Records) $53,000 Public Records
• 2015-10-26 Sold (Public Records) $32,000 Public Records
• 2015-10-23 Sold (MLS) $32,000 CBRMLS
• 2015-10-13 Pending — CBRMLS
• 2015-09-21 Listed $38,900 CBRMLS
• 2007-07-22 Listing Removed — CBRMLS
• 2007-04-17 Listed $59,900 CBRMLS
• 1995-06-20 Sold (Public Records) $28,000 Public Records

Property tax history

+5.5%/yr

Latest (2024): $1,447 · +1.3% YoY. Source: county tax records.