281 Wrexham Ave · Columbus, OH 43223

$109,900

4 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 25 Days on market

Built 1903 4,356 sqft lot $80/sqft · 36% below area Est $212k · 48% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

Key facts

• Replaced windows
• Finished attic
• New flooring

Tags

• FINISHED ATTIC
• REPLACED ROOF
• REPLACED WINDOWS
• NEW FLOORING
• POTENTIAL INCOME

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1903; No shared/common walls
• Construction: Block foundation
• Exterior features: Fenced yard

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 (+4.6%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 39% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 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 + 4.6% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $110k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.39% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.30%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $211,886
• List price: $109,900
• Delta: -48.13%
• 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
283 Whitethorne Ave	0.15mi	3/1.5 (-1)	1,376 (+0%)	1mo	$170,000	$124	84
237 Midland Ave	0.22mi	4/1.0	1,452 (+6%)	1mo	$159,000	$110	79
1924 Sullivant Ave	0.23mi	3/2.5 (-1)	1,360 (-1%)	2mo	$210,000	$154	75
321 Belvidere Ave	0.09mi	3/1.0 (-1)	1,494 (+9%)	1mo	$85,000	$57	75
479 Nashoba Ave	0.31mi	3/1.0 (-1)	1,332 (-3%)	2mo	$119,000	$89	74
1930 Floral Ave	0.30mi	3/1.5 (-1)	1,328 (-3%)	1mo	$220,000	$166	73
83 Belvidere Ave	0.29mi	3/1.5 (-1)	1,440 (+5%)	2mo	$185,000	$128	69
557 Woodbury Ave	0.49mi	3/1.0 (-1)	1,312 (-4%)	2mo	$199,000	$152	63
616 Larcomb Ave	0.61mi	3/1.0 (-1)	1,410 (+3%)	2mo	$103,500	$73	60
330 S Richardson Ave	0.73mi	3/1.5 (-1)	1,381 (+1%)	2mo	$196,000	$142	56
246 S Terrace Ave	0.66mi	3/1.0 (-1)	1,232 (-10%)	0mo	$205,000	$166	47
2182 Homewood Ave	0.57mi	4/2.0	1,544 (+12%)	2mo	$243,000	$157	47

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.42×
• Total profit: $12,991
• Equity at exit: $16,386

10-year hold

• IRR: 20.8%
• Equity multiple: 2.90×
• Total profit: $58,473
• Equity at exit: $9,502

Cash invested: $30,772 (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 43223

• Rents YoY: 4.6%
• Active inventory: 144
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,529 high
• Mortgage (P&I): −$576
• Tax from tax record: −$142 /mo · $1,702/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $444

Break-even live

Break-even rent $967

Max offer price $109,900

Occupancy floor 66%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	23d	1	0.21mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.30mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	20d	1	0.30mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	43d	1	0.33mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	43d	1	0.43mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.48mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.51mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.55mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	43d	1	0.58mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	20d	1	0.62mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	3d	1	0.64mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.64mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	0.64mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	43d	1	0.67mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.73mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	23d	1	0.76mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	23d	1	0.76mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	10d	1	0.77mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	23d	1	0.81mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	0.81mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	21d	1	0.83mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	12d	1	0.84mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	0.88mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	43d	1	0.91mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	43d	1	0.94mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	43d	1	0.95mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	43d	1	0.95mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	3d	1	0.95mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	43d	1	0.95mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	2d	1	0.97mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$1,295	$1.37	14d	12	0.97mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	1.00mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	1.00mi
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	43d	1	1.01mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	43d	1	1.05mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	23d	1	1.06mi
51 N Princeton Ave Columbus, OH	3.0	1.0	1188	$1,175	$0.99	23d	1	1.15mi
189 W Park Ave Unit 189 Columbus, OH	3.0	2.0	1276	$1,395	$1.09	7d	1	1.15mi
945 Hodges Dr Columbus, OH	3.0	1.0	1078	$1,640	$1.52	23d	1	1.20mi
2735 Sutton Ave Columbus, OH	3.0	1.0	1099	$1,175	$1.07	3d	1	1.26mi

Listing history 28 events

1. 2026-05-07
   historical Contingent 498-char remark
2. 2026-05-04
   price $119,900 498-char remark
3. 2026-05-01
   price $124,900 498-char remark
4. 2026-04-30
   listed $119,900 Active 498-char remark
5. 2022-04-02
   price $1,025
6. 2018-03-15
   soldstatus $30,833 Closed 145-char remark

   Show marketing remark (145 chars)

   2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

7. 2018-01-24
   status Pending 145-char remark

   Show marketing remark (145 chars)

   2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

8. 2017-11-20
   status Active 145-char remark

   Show marketing remark (145 chars)

   2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

9. 2017-11-16
   status Pending 145-char remark

   Show marketing remark (145 chars)

   2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

10. 2017-10-26
    status Active 145-char remark

    Show marketing remark (145 chars)

    2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

11. 2017-10-12
    status Pending 145-char remark

    Show marketing remark (145 chars)

    2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

12. 2017-09-22
    status Active 145-char remark

    Show marketing remark (145 chars)

    2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

13. 2017-09-12
    status Pending 145-char remark

    Show marketing remark (145 chars)

    2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

14. 2017-08-30
    listed $34,900 Active 145-char remark

    Show marketing remark (145 chars)

    2 1/2 story home offering 4 bedrooms and 2 baths. Property features Newer roof, fireplace, fenced yard, screened porch and 2 car detached garage.

15. 2016-07-17
    historical
16. 2016-07-01
    price $24,500
17. 2016-05-14
    price $27,900
18. 2016-05-14
    status Active
19. 2016-04-22
    status Pending
20. 2016-03-18
    listed $32,900 Active
21. 2011-10-28
    soldstatus $9,000
22. 2011-10-26
    historical
23. 2011-09-22
    listed $13,900
24. 2011-09-21
    historical
25. 2011-01-19
    listed $13,900
26. 2008-06-30
    historical
27. 2007-12-02
    listed $75,900
28. 2006-11-09
    soldstatus $37,000

ⓘ 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: $1,702 · $142/mo
• Projected year-2 tax: $1,708 · $142/mo
• Expected delta: +$6/yr (+$1/mo · 0.4%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,344
• − Mortgage interest: −$6,156
• − Property taxes: −$1,702
• − Insurance: −$550
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$3,197
• Taxable income: $3,804
• Est. tax owed @ 24.0%: −$913
• After-tax cash flow: $4,411/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): 28,187
• Household income: $46,911
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1689.0

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 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5%

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: ▼ -135.33%
• Current HPI: 211.6742
• Rent YoY: ▲ 4.61%
• 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

+197.0% since first listed

31 events — show timeline

• 2026-05-26 Listing Removed — CBRMLS
• 2026-05-21 Relisted — CBRMLS
• 2026-05-21 Price Changed $109,900 CBRMLS
• 2026-05-07 Contingent — CBRMLS
• 2026-05-04 Price Changed $119,900 CBRMLS
• 2026-05-01 Price Changed $124,900 CBRMLS
• 2026-04-30 Listed $119,900 CBRMLS
• 2022-04-02 Price Changed $1,025 RENT.
• 2018-03-15 Sold (MLS) $30,833 CBRMLS
• 2018-01-24 Pending — CBRMLS
• 2017-11-20 Relisted — CBRMLS
• 2017-11-16 Pending — CBRMLS
• 2017-10-26 Relisted — CBRMLS
• 2017-10-12 Pending — CBRMLS
• 2017-09-22 Relisted — CBRMLS
• 2017-09-12 Pending — CBRMLS
• 2017-08-30 Listed $34,900 CBRMLS
• 2016-07-17 Listing Removed — CBRMLS
• 2016-07-01 Price Changed $24,500 CBRMLS
• 2016-05-14 Price Changed $27,900 CBRMLS
• 2016-05-14 Relisted — CBRMLS
• 2016-04-22 Pending — CBRMLS
• 2016-03-18 Listed $32,900 CBRMLS
• 2011-10-28 Sold (MLS) $9,000 CBRMLS
• 2011-10-26 Listing Removed — CBRMLS
• 2011-09-22 Listed $13,900 CBRMLS
• 2011-09-21 Listing Removed — CBRMLS
• 2011-01-19 Listed $13,900 CBRMLS
• 2008-06-30 Listing Removed — CBRMLS
• 2007-12-02 Listed $75,900 CBRMLS
• 2006-11-09 Sold (Public Records) $37,000 Public Records

Property tax history

-8.5%/yr

Latest (2024): $1,702 · +1.3% YoY. Source: county tax records.