2455 Natchez Dr Unit D · Columbus, OH 43209

$114,900

2 bd · 1.0 ba · 903 sqft · Condo public records · 36 Days on market

Built 1973 $127/sqft · at area comps Est $117k · at est. $209/mo HOA · 15% of rent

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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 +18.4/30.0
• ARV discount +8.4/15.0
• 1% rule +6.8/10.0
• DSCR +5.8/10.0
• Rent growth +4.8/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy low-maintenance living in this updated second-story ranch condo located in Plantation Lakes! This 2-bedroom, 1-bath home offers comfortable living with fresh neutral finishes, a remodeled bathroom, and an updated kitchen featuring stainless steel appliances and modern cabinetry. The spacious living room includes a gas fireplace and sliding doors leading to a private balcony overlooking the community greenspace. Convenient in-unit laundry adds to the functionality of the layout, while the attached 1-car garage provides additional storage space. Residents of Plantation Lakes enjoy access to the community pool along with direct access to the adjacent Columbus Metro Bike Path, connecting

Key facts

• Remodeled bathroom
• Community pool
• Private balcony

Tags

• UPDATED KITCHEN
• REMODELED BATHROOM
• PRIVATE BALCONY
• IN-UNIT LAUNDRY
• COMMUNITY POOL
• EASY ACCESS TO INTERSTATE 70

Property features AI

Finance

• HOA & community: Homeowners association; Monthly HOA fee of $209.07; HOA covers lawn care, insurance, trash, and snow removal; Community amenities: pool, basketball court, bike/walk path, sidewalks

Exterior

• Parking: Attached garage (1 space); Assigned parking; Shared driveway
• Utilities: Public water; Public sewer
• Home design: Condominium; One level; Built in 1973; One common wall
• Construction: Slab foundation
• Exterior features: Balcony; Slab foundation

Interior

• Flooring: Laminate flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas-log fireplace; Balcony

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 fast (+9.4%/yr); 58 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $794 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $32k; list at $115k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 7.0

CMA / ARV

• ARV (median comp): $117,154
• List price: $114,900
• Delta: -1.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.86×
• Total profit: $-4,478
• Equity at exit: $17,132

10-year hold

• IRR: 11.9%
• Equity multiple: 2.18×
• Total profit: $38,098
• Equity at exit: $9,934

Cash invested: $32,172 (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 43209

• Rents YoY: 9.4%
• Active inventory: 58
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,359 high
• Mortgage (P&I): −$603
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$48
• HOA: −$209
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $107

Break-even live

Break-even rent $1,223

Max offer price $114,900

Occupancy floor 87%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2451 Natchez Dr Unit A Columbus, OH	2.0	1.0	837	$1,350	$1.61	44d	1	0.02mi
2500 Waters Edge Blvd Unit 042 Columbus, OH	2.0	2.0	1057	$1,635	$1.55	3d	1	0.21mi
2645 Travis Rd Columbus, OH	1.0–3.0	1.0–1.5	1100	$1,375	$1.25	44d	6	0.27mi
1708 Creeksedge Dr Columbus, OH	1.0–2.0	1.0–1.5	818	$1,475	$1.80	3d	13	0.55mi
2842 Kingsrowe Ct Unit 2842 Columbus, OH	3.0	1.5	871	$1,975	$2.27	44d	1	0.58mi
2143 Winslow Dr Columbus, OH	3.0	1.0	575	$999	$1.74	3d	11	0.62mi
1634 S James Rd Columbus, OH	3.0	1.5	1120	$1,945	$1.74	44d	1	0.95mi
2209 Wabash Ct W Columbus, OH	1.0–2.0	1.0–1.5	826	$1,456	$1.76	3d	6	1.00mi
3409 Bexvie Ave Columbus, OH	2.0–3.0	1.5	990	$1,000	$1.01	2d	3	1.06mi
3170 Melissa Pl Columbus, OH	2.0	1.0	850	$1,000	$1.18	3d	1	1.06mi
3170 Melissa Pl Unit MR 3175A Columbus, OH	2.0	1.0	850	$1,000	$1.18	24d	1	1.10mi
1893-1895 Holburn Ave Unit 2 Columbus, OH	2.0	1.0	945	$1,150	$1.22	3d	1	1.23mi
1622 Smith Rd Columbus, OH	2.0	1.0	1045	$1,000	$0.96	3d	1	1.34mi
1622 Smith Rd Columbus, OH	2.0	1.0	1045	$1,000	$0.96	20d	1	1.34mi
3103 Clairpoint Ct Columbus, OH	2.0	1.0	1000	$1,060	$1.06	44d	1	1.49mi

HOA detail condo

• Monthly dues: $209 · $2,508/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $114,900 Active 36 DOM
2. 2026-06-17
   days on market $114,900 Active 35 DOM
3. 2026-06-16
   days on market $114,900 Active 34 DOM
4. 2026-06-15
   days on market $114,900 Active 33 DOM
5. 2026-06-13
   days on market $114,900 Active 31 DOM
6. 2026-06-13
   days on market $114,900 Active 30 DOM
7. 2026-06-09
   days on market $114,900 Active 27 DOM
8. 2026-06-08
   days on market $114,900 Active 26 DOM
9. 2026-06-07
   days on market $114,900 Active 25 DOM
10. 2026-06-05
    days on market $114,900 Active 22 DOM
11. 2026-06-03
    days on market $114,900 Active 21 DOM
12. 2026-06-02
    days on market $114,900 Active 20 DOM
13. 2026-06-01
    days on market $114,900 Active 19 DOM
14. 2026-05-31
    days on market $114,900 Active 18 DOM
15. 2026-05-13
    listed $114,900 Active 908-char remark
16. 1986-07-25
    soldstatus $32,000

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,537 · $128/mo
• Expected delta: +$255/yr (+$21/mo · 19.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,307
• − Mortgage interest: −$6,436
• − Property taxes: −$1,282
• − Insurance: −$574
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − HOA: −$2,508
• − Depreciation: −$3,343
• Taxable loss: −$446
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $1,394/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): 28,193
• Household income: $89,713
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1110.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 25% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Arabic 2% Russian/Polish/Slavic 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: ▼ -405.11%
• Current HPI: 287.281
• Rent YoY: ▲ 9.36%
• 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

+259.1% since first listed

4 events — show timeline

• 2026-05-29 Relisted — CBRMLS
• 2026-05-19 Contingent — CBRMLS
• 2026-05-13 Listed $114,900 CBRMLS
• 1986-07-25 Sold (Public Records) $32,000 Public Records

Property tax history

+3.7%/yr

Latest (2024): $1,282 · +4.0% YoY. Source: county tax records.