5700 Crossing Ct #4 · Columbus, OH 43231

$149,900

2 bd · 1.5 ba · 896 sqft · Condo public records · 127 Days on market

Built 1979 $167/sqft · 17% above area Est $171k · 12% under $280/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).

• ARV discount +13.0/15.0
• Cash flow +7.1/30.0
• Schools +5.2/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this recently renovated 2 bedroom, 1.5 bathroom townhome located in the Crossing Court Community with Westerville City Schools. The updates in this cozy end unit townhome include new lighting, newer flooring, new carpet, new bathtub and surround and fresh paint throughout. This property has a full basement which half of is finished and the other half is where the mechanicals and laundry hook-ups are located. Fenced in private patio out back. This community H. O. A. takes care of the landscaping and the lawn care. Water/sewer and has 2 assigned parking spaces.

Key facts

• New lighting
• Newer flooring
• New carpet

Tags

• RECENTLY RENOVATED
• NEW LIGHTING
• NEWER FLOORING
• NEW CARPET
• NEW BATHTUB
• FENCED IN PRIVATE PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-210 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (24.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (8.5% below list).
• Recommended offer: $113k (24.8% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.8% in Columbus — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Westerville City (suburban): math 54% / reading 63% proficiency, ranked #276 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1k 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

• It's been on market 127 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 9571% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $112,769 (24.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.91% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.01%
• DSCR: 0.73
• GRM: 9.1

CMA / ARV

• ARV (median comp): $170,679
• List price: $149,900
• Delta: -12.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.4%
• Equity multiple: 0.11×
• Total profit: $-37,499
• Equity at exit: $22,351

10-year hold

• IRR: -23.1%
• Equity multiple: -0.17×
• Total profit: $-49,165
• Equity at exit: $12,961

Cash invested: $41,972 (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 43231

• Active inventory: 37
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$786
• Tax from tax record: −$165 /mo · $1,978/yr
• Insurance: −$62
• HOA: −$280
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-210

Break-even live

Break-even rent $1,637

Max offer price $112,769

Occupancy floor —

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3311 Kristin Ct Unit 3311 Columbus, OH	3.0	1.5	1100	$1,450	$1.32	43d	1	0.24mi
5615 Sierra Ridge Dr Columbus, OH	1.0–3.0	1.0–2.0	833	$1,342	$1.61	1d	40	0.53mi
3090 Highcliff Ct Unit 3090 Columbus, OH	2.0	1.5	922	$1,375	$1.49	21d	1	0.64mi
5080 Westerville Rd Columbus, OH	1.0	1.0	650	$800	$1.23	43d	1	0.75mi
5650 Knighthood Ln Columbus, OH	2.0	1.0–2.0	1250	$1,540	$1.23	3d	8	0.78mi
3142 Vista View Blvd Columbus, OH	2.0	2.0	949	$1,275	$1.34	2d	1	0.84mi
5239 Harvestwood Ln Columbus, OH	1.0	1.0	432	$1,020	$2.36	2d	12	0.87mi
5390 Harbin Pl Unit 5452 Westerville, OH	2.0	1.0	900	$900	$1.00	23d	1	0.87mi
5390 Harbin Pl Unit 5438 Westerville, OH	2.0	1.0	900	$900	$1.00	12d	1	0.87mi
5429 Harbin Ct Unit HA 5429 Westerville, OH	2.0	1.0	1100	$1,300	$1.18	16d	1	0.89mi
5473 W Woodvale Ct Unit WDW 5473 Westerville, OH	2.0	1.0	1100	$1,550	$1.41	16d	1	0.92mi
3692 N Woodvale Ct Unit Wdn Westerville, OH	2.0	1.0	1100	$1,500	$1.36	14d	1	0.93mi
6345 Cooper Rd Columbus, OH	1.0–3.0	1.0–2.5	1485	$1,932	$1.30	1d	11	0.94mi
5424 Rockingham Ct Unit RO 5424 Westerville, OH	2.0	1.0	1100	$1,400	$1.27	12d	1	0.95mi
5398 Rockingham Ct Westerville, OH	2.0	1.0	1100	$1,400	$1.27	10d	5	0.95mi
5422 Woodvale Ct Unit WD 5422 Westerville, OH	2.0	1.0	1100	$1,500	$1.36	16d	1	0.99mi
2465 Ben Dougan Ln Columbus, OH	1.0	1.0	709	$1,000	$1.41	23d	2	1.28mi
2380 Pinecrest Dr Columbus, OH	2.0	1.0	900	$1,220	$1.36	14d	2	1.30mi
2608 Christine Blvd Columbus, OH	2.0	1.0	883	$1,195	$1.35	7d	1	1.34mi
5811 Spring Run Dr Columbus, OH	1.0–2.0	1.0–2.0	847	$1,519	$1.79	1d	31	1.48mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: watersewerlandscapingparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $149,900 Active 127 DOM
2. 2026-06-17
   days on market $149,900 Active 126 DOM
3. 2026-06-16
   days on market $149,900 Active 125 DOM
4. 2026-06-15
   days on market $149,900 Active 124 DOM
5. 2026-06-13
   pricedays on market $149,900 Active 122 DOM
6. 2026-06-09
   days on market $159,900 Active 118 DOM
7. 2026-06-08
   days on market $159,900 Active 117 DOM
8. 2026-06-07
   days on market $159,900 Active 116 DOM
9. 2026-06-03
   days on market $159,900 Active 112 DOM
10. 2026-06-02
    days on market $159,900 Active 111 DOM
11. 2026-06-01
    days on market $159,900 Active 110 DOM
12. 2026-05-31
    days on market $159,900 Active 109 DOM
13. 2026-05-12
    listed $1,550
14. 2026-02-12
    historical $1,550
15. 2026-02-11
    listed $159,900 Active 576-char remark

    Show marketing remark (576 chars)

    Welcome to this recently renovated 2 bedroom, 1.5 bathroom townhome located in the Crossing Court Community with Westerville City Schools. The updates in this cozy end unit townhome include new lighting, newer flooring, new carpet, new bathtub and surround and fresh paint throughout. This property has a full basement which half of is finished and the other half is where the mechanicals and laundry hook-ups are located. Fenced in private patio out back. This community H. O. A. takes care of the landscaping and the lawn care. Water/sewer and has 2 assigned parking spaces.

16. 2026-01-05
    listed $1,550
17. 2008-03-28
    soldstatus $1,921,100

ⓘ 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: $1,978 · $165/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$180/yr (+$15/mo · 9.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,454
• − Mortgage interest: −$8,397
• − Property taxes: −$1,978
• − Insurance: −$750
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − HOA: −$3,360
• − Depreciation: −$4,361
• Taxable loss: −$5,024
• Est. tax savings @ 24.0%: +$1,206
• After-tax cash flow: $-1,317/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: Westerville City
• NCES district ID: 3904504
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $72,017
• Composite: 51.9/100
• National rank: #1649
• State rank: #276 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): 23,009
• Household income: $73,986
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 663.0

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 39% White 38% Asian 8% Hispanic / Latino 8% Two or more races 8% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 26% · Canada, India, China
• Languages at home: 66% English-only · Other Indo-European 8% Spanish 7% French/Haitian/Cajun 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: ▼ -219.08%
• Current HPI: 273.0097
• Rent YoY: —
• 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

-99.9% since first listed

5 events — show timeline

• 2026-05-12 Listed for Rent $1,550 COLUMBUSMLS
• 2026-02-12 Rental Removed $1,550 COLUMBUSMLS
• 2026-02-11 Listed $159,900 CBRMLS
• 2026-01-05 Listed for Rent $1,550 COLUMBUSMLS
• 2008-03-28 Sold (Public Records) $1,921,100 Public Records

Property tax history

+5.4%/yr

Latest (2024): $1,978 · +2.4% YoY. Source: county tax records.