3081 Grasmere Ave · Columbus, OH 43224

$108,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 104 Days on market

Built 1950 5,227 sqft lot $162/sqft · 34% below area Est $165k · 34% 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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath home with great curb appeal and solid bones, ready for your personal touch! This inviting property features wood floors, neutral colors, and plenty of natural light that create a warm and welcoming atmosphere throughout. The kitchen comes equipped with a refrigerator and range, and the full basement offers laundry hookups along with plenty of space for storage or future possibilities. Outside, you'll find attractive landscaping and a fenced yard--perfect for pets, gardening, or relaxing outdoors. Bring your favorite exterior paint to give this fantastic home a fresh new look and choose the perfect wood stain to highlight the gorgeous flooring inside. There's also a wonderful opportunity to update the bathroom with a stunning new sink and add your own style. With great character, functional space, and room to make it your own, this home is full of potential so grab it before it's gone!

Key facts

• Wood floors
• Fenced yard
• Natural light

Tags

• WOOD FLOORS
• NATURAL LIGHT
• FULL BASEMENT
• LAUNDRY HOOKUPS
• ATTRACTIVE LANDSCAPING
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $99k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 (+4.2%/yr); 100 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $753 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 104 days — a 9% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $21k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,099 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.00% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $165,150
• List price: $108,900
• Delta: -34.06%
• 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
2860 Grasmere Ave	0.33mi	2/1.0	672 (0%)	7mo	$150,000	$223	79
2996 Atwood Ter	0.18mi	2/1.0	720 (+7%)	7mo	$95,000	$132	74
3070 Hiawatha St	0.17mi	2/1.0	720 (+7%)	9mo	$163,500	$227	73
1241 E Weber Rd	0.44mi	2/1.0	672 (0%)	9mo	$95,000	$141	72
2829 Hiawatha St	0.45mi	2/1.0	672 (0%)	9mo	$92,000	$137	72
2874 Grasmere Ave	0.31mi	2/1.0	732 (+9%)	2mo	$90,000	$123	68
3029 Mcguffey Rd	0.09mi	2/1.0	760 (+13%)	8mo	$160,000	$211	68
792 Melrose Ave	0.55mi	2/1.0	720 (+7%)	2mo	$175,000	$243	61
1064 Urana Ave	0.50mi	2/1.0	720 (+7%)	8mo	$194,900	$271	58
2705 Osceola Ave	0.71mi	2/1.0	690 (+3%)	9mo	$125,000	$181	55
1273 Minnesota Ave	0.67mi	2/1.0	644 (-4%)	8mo	$75,000	$116	55
740 Melrose Ave	0.62mi	2/1.0	720 (+7%)	9mo	$199,900	$278	52

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-9,230
• Equity at exit: $16,237

10-year hold

• IRR: 2.9%
• Equity multiple: 1.22×
• Total profit: $6,597
• Equity at exit: $9,416

Cash invested: $30,492 (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: 100
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,092 high
• Mortgage (P&I): −$571
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $112

Break-even live

Break-even rent $950

Max offer price $108,900

Occupancy floor 85%

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: $27,225
• Closing costs: $3,267
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
940 E North Broadway St Columbus, OH	1.0	1.0	650	$795	$1.22	43d	1	0.39mi
870 Melrose Ave Columbus, OH	2.0	1.0	732	$1,345	$1.84	7d	1	0.47mi
1046-1048 Republic Ave Columbus, OH	1.0	1.0	672	$875	$1.30	3d	1	0.87mi
2888 Cleveland Ave Unit F Columbus, OH	1.0	1.0	680	$825	$1.21	10d	1	0.96mi
2888 Cleveland Ave Unit D Columbus, OH	1.0	1.0	680	$825	$1.21	43d	1	0.96mi
1517 Elmore Ave Columbus, OH	2.0	1.0	720	$1,600	$2.22	14d	1	0.99mi
3450 Indianola Ave Columbus, OH	2.0	1.0–2.0	877	$2,099	$2.39	43d	13	1.04mi
1870 Dunbar Dr Apt B4 Columbus, OH	1.0	1.0	700	$850	$1.21	23d	1	1.05mi
1555 Myrtle Ave Columbus, OH	1.0	1.0	455	$600	$1.32	16d	1	1.07mi
2530 Beulah Rd Columbus, OH	2.0	1.0	720	$1,345	$1.87	14d	1	1.09mi
2383 Hiawatha Park Dr Unit 2383 Columbus, OH	1.0	1.0	600	$1,100	$1.83	43d	1	1.09mi
2505-2507 Cleveland Ave Unit F Columbus, OH	1.0	1.0	700	$1,100	$1.57	43d	1	1.14mi
3688 Brinell St W Columbus, OH	1.0–3.0	1.0–2.0	974	$1,885	$1.93	3d	22	1.17mi
2846 Joyce Ave Apt C Columbus, OH	2.0	1.0	645	$815	$1.26	23d	1	1.23mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$925	$1.43	43d	1	1.26mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$795	$1.23	2d	1	1.26mi
2206 McGuffey Rd Columbus, OH	1.0	1.0	576	$770	$1.34	7d	1	1.27mi
2236 Atwood Ter Columbus, OH	2.0	1.0	720	$900	$1.25	7d	1	1.28mi
2217 Grasmere Ave Columbus, OH	2.0	1.5	720	$1,650	$2.29	14d	1	1.28mi
3998 Stonegate Sq W Columbus, OH	1.0–2.0	1.0	872	$1,100	$1.26	43d	5	1.38mi
358 E Duncan St Columbus, OH	1.0	1.0	550	$875	$1.59	43d	1	1.39mi
356 E Duncan St Columbus, OH	1.0	1.0	550	$900	$1.64	10d	1	1.39mi
2688 Hibbert Ave Columbus, OH	2.0	1.0	748	$1,195	$1.60	43d	1	1.45mi

Listing history 28 events

1. 2026-06-18
   status $108,900 Pending 104 DOM
2. 2026-06-18
   days on market $108,900 Active 104 DOM
3. 2026-06-17
   days on market $108,900 Active 103 DOM
4. 2026-06-16
   days on market $108,900 Active 102 DOM
5. 2026-06-15
   days on market $108,900 Active 101 DOM
6. 2026-06-13
   days on market $108,900 Active 99 DOM
7. 2026-06-13
   days on market $108,900 Active 98 DOM
8. 2026-06-09
   days on market $108,900 Active 95 DOM
9. 2026-06-08
   days on market $108,900 Active 94 DOM
10. 2026-06-07
    pricedays on market $108,900 Active 93 DOM
11. 2026-06-05
    days on market $109,900 Active 90 DOM
12. 2026-06-03
    days on market $109,900 Active 89 DOM
13. 2026-06-02
    days on market $109,900 Active 88 DOM
14. 2026-06-01
    days on market $109,900 Active 87 DOM
15. 2026-05-31
    days on market $109,900 Active 86 DOM
16. 2026-05-14
    price $109,900 924-char remark

    Show marketing remark (924 chars)

    Charming 2-bedroom, 1-bath home with great curb appeal and solid bones, ready for your personal touch! This inviting property features wood floors, neutral colors, and plenty of natural light that create a warm and welcoming atmosphere throughout. The kitchen comes equipped with a refrigerator and range, and the full basement offers laundry hookups along with plenty of space for storage or future possibilities. Outside, you'll find attractive landscaping and a fenced yard--perfect for pets, gardening, or relaxing outdoors. Bring your favorite exterior paint to give this fantastic home a fresh new look and choose the perfect wood stain to highlight the gorgeous flooring inside. There's also a wonderful opportunity to update the bathroom with a stunning new sink and add your own style. With great character, functional space, and room to make it your own, this home is full of potential so grab it before it's gone!

17. 2026-05-10
    price $119,900 924-char remark

    Show marketing remark (924 chars)

    Charming 2-bedroom, 1-bath home with great curb appeal and solid bones, ready for your personal touch! This inviting property features wood floors, neutral colors, and plenty of natural light that create a warm and welcoming atmosphere throughout. The kitchen comes equipped with a refrigerator and range, and the full basement offers laundry hookups along with plenty of space for storage or future possibilities. Outside, you'll find attractive landscaping and a fenced yard--perfect for pets, gardening, or relaxing outdoors. Bring your favorite exterior paint to give this fantastic home a fresh new look and choose the perfect wood stain to highlight the gorgeous flooring inside. There's also a wonderful opportunity to update the bathroom with a stunning new sink and add your own style. With great character, functional space, and room to make it your own, this home is full of potential so grab it before it's gone!

18. 2026-04-14
    status Active 924-char remark

    Show marketing remark (924 chars)

    Charming 2-bedroom, 1-bath home with great curb appeal and solid bones, ready for your personal touch! This inviting property features wood floors, neutral colors, and plenty of natural light that create a warm and welcoming atmosphere throughout. The kitchen comes equipped with a refrigerator and range, and the full basement offers laundry hookups along with plenty of space for storage or future possibilities. Outside, you'll find attractive landscaping and a fenced yard--perfect for pets, gardening, or relaxing outdoors. Bring your favorite exterior paint to give this fantastic home a fresh new look and choose the perfect wood stain to highlight the gorgeous flooring inside. There's also a wonderful opportunity to update the bathroom with a stunning new sink and add your own style. With great character, functional space, and room to make it your own, this home is full of potential so grab it before it's gone!

19. 2026-03-26
    historical Contingent 924-char remark

    Show marketing remark (924 chars)

    Charming 2-bedroom, 1-bath home with great curb appeal and solid bones, ready for your personal touch! This inviting property features wood floors, neutral colors, and plenty of natural light that create a warm and welcoming atmosphere throughout. The kitchen comes equipped with a refrigerator and range, and the full basement offers laundry hookups along with plenty of space for storage or future possibilities. Outside, you'll find attractive landscaping and a fenced yard--perfect for pets, gardening, or relaxing outdoors. Bring your favorite exterior paint to give this fantastic home a fresh new look and choose the perfect wood stain to highlight the gorgeous flooring inside. There's also a wonderful opportunity to update the bathroom with a stunning new sink and add your own style. With great character, functional space, and room to make it your own, this home is full of potential so grab it before it's gone!

20. 2026-03-06
    listed $129,900 Active 924-char remark

    Show marketing remark (924 chars)

    Charming 2-bedroom, 1-bath home with great curb appeal and solid bones, ready for your personal touch! This inviting property features wood floors, neutral colors, and plenty of natural light that create a warm and welcoming atmosphere throughout. The kitchen comes equipped with a refrigerator and range, and the full basement offers laundry hookups along with plenty of space for storage or future possibilities. Outside, you'll find attractive landscaping and a fenced yard--perfect for pets, gardening, or relaxing outdoors. Bring your favorite exterior paint to give this fantastic home a fresh new look and choose the perfect wood stain to highlight the gorgeous flooring inside. There's also a wonderful opportunity to update the bathroom with a stunning new sink and add your own style. With great character, functional space, and room to make it your own, this home is full of potential so grab it before it's gone!

21. 2024-09-10
    soldstatus $12,041,000
22. 2021-07-29
    soldstatus $1,200
23. 2021-06-15
    historical
24. 2021-05-19
    listed $110,000 Active
25. 2018-01-16
    soldstatus $86,700
26. 2017-12-21
    soldstatus $28,800
27. 2017-12-21
    listed $28,800
28. 2005-04-27
    soldstatus $51,000

ⓘ 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: $1,611 · $134/mo
• Projected year-2 tax: $1,655 · $138/mo
• Expected delta: +$44/yr (+$4/mo · 2.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,099
• − Mortgage interest: −$6,100
• − Property taxes: −$1,611
• − Insurance: −$544
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$3,168
• Taxable loss: −$420
• Est. tax savings @ 24.0%: +$101
• After-tax cash flow: $1,441/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

+115.5% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $109,900 CBRMLS
• 2026-05-10 Price Changed $119,900 CBRMLS
• 2026-04-14 Relisted — CBRMLS
• 2026-03-26 Contingent — CBRMLS
• 2026-03-06 Listed $129,900 CBRMLS
• 2024-09-10 Sold (Public Records) $12,041,000 Public Records
• 2021-07-29 Sold (Public Records) $1,200 Public Records
• 2021-06-15 Listing Removed — CBRMLS
• 2021-05-19 Listed $110,000 CBRMLS
• 2018-01-16 Sold (Public Records) $86,700 Public Records
• 2017-12-21 Listed $28,800 CBRMLS
• 2017-12-21 Sold (MLS) $28,800 CBRMLS
• 2005-04-27 Sold (Public Records) $51,000 Public Records

Property tax history

+5.2%/yr

Latest (2024): $1,611 · +1.3% YoY. Source: county tax records.