6548 San Miguel Pl · Reynoldsburg, OH 43068

$115,000

2 bd · 1.5 ba · 1,024 sqft · Condo public records · 9 Days on market

Built 1972 $190/mo HOA · 13% of rent

---

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 +22.6/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple Offer Deadline – Dec 04, 2014, 09:35:00 PM (EST). Barcelona Square is where you'll find this 2 bedroom, end unit condo! Features include spacious bedrooms, 1st floor laundry room, and patio! Close to Blacklick Woods Park, restaurants and shopping! This is a Fannie Mae HomePath property. The offer process has changed, see A2A for details!

Key facts

• Walk-in closets
• Private patio
• End unit condo

Tags

• END UNIT CONDO
• OPEN-CONCEPT LIVING AREA
• FULLY EQUIPPED KITCHEN
• PRIVATE PATIO
• EXTRA HALLWAY STORAGE
• WALK-IN CLOSETS

Property features AI

Finance

• HOA & community: Homeowners association with a $190 monthly fee; Association covers lawn care, trash, and snow removal

Exterior

• Parking: Common parking
• Utilities: Public water; Public sewer
• Home design: Condominium (townhouse style); End unit with one common wall; Two levels; Built in 1972
• Construction: Townhouse structure
• Exterior features: Patio; Fenced yard; Slab foundation

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central air conditioning
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 8.3% vs local median 4.4% in Reynoldsburg — 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 80/100 on livability (#124 in OH, #1,816 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F.
• Reynoldsburg City (suburban): math 32% / reading 50% proficiency, ranked #519 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.0%/yr); 178 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $795 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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.
• Current owner paid $100k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.26% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.02% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.77×
• Total profit: $-7,512
• Equity at exit: $17,147

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $4,231
• Equity at exit: $9,943

Cash invested: $32,200 (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 43068

• Rents YoY: 2.0%
• Active inventory: 178
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,453 high
• Mortgage (P&I): −$603
• Tax from tax record: −$112 /mo · $1,342/yr
• Insurance: −$48
• HOA: −$190
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $195

Break-even live

Break-even rent $1,206

Max offer price $115,000

Occupancy floor 82%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 Baldwin Rd Reynoldsburg, OH	2.0	1.5	1024	$1,147	$1.12	43d	1	0.09mi
6613-6617 E Livingston Ave Unit 6615 Reynoldsburg, OH	3.0	1.5	1322	$1,495	$1.13	43d	1	0.17mi
6592 Steinway Dr Reynoldsburg, OH	1.0–3.0	1.0–2.0	950	$1,195	$1.26	2d	7	0.29mi
2269 Hughey Dr Reynoldsburg, OH	2.0	1.5	1225	$1,175	$0.96	7d	1	0.33mi
6870 E Livingston Ave Reynoldsburg, OH	2.0–3.0	1.5	1180	$1,200	$1.02	7d	7	0.59mi
1902 SAWGRASS Dr Franklin, IN	3.0	2.0	1306	$2,050	$1.57	1d	1	0.89mi
2830 Albemarle Dr Reynoldsburg, OH	2.0	2.5	1280	$1,525	$1.19	3d	5	1.01mi
1366 Briarcliff Rd Reynoldsburg, OH	1.0–2.0	1.0	667	$1,185	$1.78	1d	11	1.02mi
2760 Flag Ln Reynoldsburg, OH	2.0	1.0	576	$1,265	$2.20	2d	13	1.04mi
6801 Bordeaux Ct Reynoldsburg, OH	2.0	2.0	1049	$1,600	$1.53	3d	7	1.08mi
6560 Benjamin Dr Reynoldsburg, OH	3.0	1.5	1434	$1,895	$1.32	43d	1	1.08mi
2800 John Steven Way Reynoldsburg, OH	2.0	1.5	987	$1,368	$1.39	3d	10	1.09mi
2871 Yankee Doodle Dr Reynoldsburg, OH	3.0	1.5	1323	$2,085	$1.58	43d	1	1.17mi
1713 Blacklick Creek Dr Reynoldsburg, OH	2.0	2.0	1481	$2,456	$1.66	1d	3	1.18mi
1161 Woodwind Dr Unit 1197 Reynoldsburg, OH	2.0	1.5	950	$1,250	$1.32	43d	1	1.19mi
1736 Sun Apple Way Unit 1736 Columbus, OH	2.0	1.0	800	$1,100	$1.38	14d	1	1.25mi
1289b Yorkland Rd Columbus, OH	2.0	1.0–1.5	933	$1,450	$1.55	2d	5	1.29mi
5623-5625 Chatford Dr Unit 5623 Columbus, OH	2.0	1.5	1010	$1,085	$1.07	17d	1	1.30mi
5623-5625 Chatford Dr Columbus, OH	2.0	1.5	1010	$1,085	$1.07	17d	1	1.30mi
6425 Carriage Ln Reynoldsburg, OH	3.0	1.5	1000	$1,850	$1.85	43d	1	1.31mi
2892 Teapot Ct Reynoldsburg, OH	3.0	2.5	1364	$2,265	$1.66	1d	1	1.32mi
2067 Creekview Ct Reynoldsburg, OH	1.0–2.0	1.0–1.5	975	$1,419	$1.46	2d	18	1.35mi
5596 Autumn Chase Dr Columbus, OH	1.0	1.0	750	$1,200	$1.60	43d	11	1.35mi
1359 Yorkland Rd Columbus, OH	2.0	1.5	1150	$1,450	$1.26	3d	3	1.37mi
2680 Silver Oak Dr Columbus, OH	1.0–2.0	1.0–2.0	965	$1,549	$1.60	2d	21	1.41mi
2870 Kengary Way Reynoldsburg, OH	2.0	1.5	987	$1,282	$1.30	2d	23	1.41mi
1929 Opal St Reynoldsburg, OH	2.0–3.0	2.5	1646	$1,906	$1.16	1d	18	1.42mi
1929 Opal St Reynoldsburg, OH	2.0–3.0	2.5	1646	$1,955	$1.19	43d	13	1.42mi
7378 E Main St Reynoldsburg, OH	3.0	1.5	1062	$1,595	$1.50	12d	1	1.42mi
7552 Woodland Trace Dr Reynoldsburg, OH	2.0	1.0	900	$1,494	$1.66	2d	6	1.44mi
3124 Creighton Pl Reynoldsburg, OH	3.0	1.5	1368	$2,100	$1.54	43d	1	1.47mi
3124 Creighton Pl Reynoldsburg, OH	3.0	1.5	1368	$1,985	$1.45	1d	1	1.47mi
5951 Parliament Dr Columbus, OH	2.0	1.5	1033	$1,625	$1.57	3d	4	1.48mi

HOA detail condo

• Monthly dues: $190 · $2,280/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-11
   listed $115,000 Active 699-char remark
2. 2014-12-18
   soldstatus $20,000 354-char remark

   Show marketing remark (354 chars)

   Multiple Offer Deadline – Dec 04, 2014, 09:35:00 PM (EST). Barcelona Square is where you'll find this 2 bedroom, end unit condo! Features include spacious bedrooms, 1st floor laundry room, and patio! Close to Blacklick Woods Park, restaurants and shopping! This is a Fannie Mae HomePath property. The offer process has changed, see A2A for details!

3. 2014-12-08
   historical 354-char remark

   Show marketing remark (354 chars)

   Multiple Offer Deadline – Dec 04, 2014, 09:35:00 PM (EST). Barcelona Square is where you'll find this 2 bedroom, end unit condo! Features include spacious bedrooms, 1st floor laundry room, and patio! Close to Blacklick Woods Park, restaurants and shopping! This is a Fannie Mae HomePath property. The offer process has changed, see A2A for details!

4. 2014-11-25
   listed $16,960 354-char remark

   Show marketing remark (354 chars)

   Multiple Offer Deadline – Dec 04, 2014, 09:35:00 PM (EST). Barcelona Square is where you'll find this 2 bedroom, end unit condo! Features include spacious bedrooms, 1st floor laundry room, and patio! Close to Blacklick Woods Park, restaurants and shopping! This is a Fannie Mae HomePath property. The offer process has changed, see A2A for details!

5. 2006-07-25
   soldstatus $48,000
6. 2006-07-20
   soldstatus $48,000

   Show marketing remark (235 chars)

   Buy for less than RENT! Great place to start for owner occupant or investor. Close to school, park and shopping! Condo fee includes water, sewer, pool, and exterior maintence. New kitchen cabinets, new carpet, freshly painted. New A/C.

7. 2006-06-23
   historical

   Show marketing remark (235 chars)

   Buy for less than RENT! Great place to start for owner occupant or investor. Close to school, park and shopping! Condo fee includes water, sewer, pool, and exterior maintence. New kitchen cabinets, new carpet, freshly painted. New A/C.

8. 2006-04-25
   listed $49,900

   Show marketing remark (235 chars)

   Buy for less than RENT! Great place to start for owner occupant or investor. Close to school, park and shopping! Condo fee includes water, sewer, pool, and exterior maintence. New kitchen cabinets, new carpet, freshly painted. New A/C.

9. 1999-07-02
   soldstatus $35,500
10. 1999-06-29
    soldstatus $35,500
11. 1999-05-25
    historical
12. 1999-05-18
    listed $36,500
13. 1997-10-14
    soldstatus $31,375
14. 1987-06-08
    soldstatus $24,400
15. 1984-01-01
    soldstatus $26,000
16. 1980-11-01
    soldstatus $29,400

ⓘ 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: $1,342 · $112/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$226/yr (+$19/mo · 16.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥99°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,437
• − Mortgage interest: −$6,442
• − Property taxes: −$1,342
• − Insurance: −$575
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − HOA: −$2,280
• − Depreciation: −$3,345
• Taxable income: $662
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $2,182/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: Reynoldsburg City
• NCES district ID: 3904700
• Math proficiency: 32% ▼ -23.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $58,857
• Composite: 36.1/100
• National rank: #4757
• State rank: #519 of 656 in OH

Livability — Reynoldsburg

• Score: 80/100
• State rank: #124
• US rank: #1816

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment B- Housing A+ Health & safety C User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reynoldsburg, OH
• County: Franklin County · 1,351,780 people
• City population: 60,148
• Metro: Columbus, OH
• Population (ZIP): 60,148
• Household income: $70,477
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 2189.0

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 0.68)
• Race & ethnicity: White 46% Black 31% Asian 9% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 3% Dominican 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 15% · Canada, India
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 5% French/Haitian/Cajun 2%

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: ▼ -222.50%
• Current HPI: 233.8839
• Rent YoY: ▲ 2.02%
• 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

+240.1% since first listed

18 events — show timeline

• 2026-05-29 Sold (MLS) $100,000 CBRMLS
• 2026-05-19 Pending — CBRMLS
• 2026-05-11 Listed $115,000 CBRMLS
• 2014-12-18 Sold (MLS) $20,000 CBRMLS
• 2014-12-08 Listing Removed — CBRMLS
• 2014-11-25 Listed $16,960 CBRMLS
• 2006-07-25 Sold (Public Records) $48,000 Public Records
• 2006-07-20 Sold (MLS) $48,000 CBRMLS
• 2006-06-23 Listing Removed — CBRMLS
• 2006-04-25 Listed $49,900 CBRMLS
• 1999-07-02 Sold (Public Records) $35,500 Public Records
• 1999-06-29 Sold (MLS) $35,500 CBRMLS
• 1999-05-25 Listing Removed — CBRMLS
• 1999-05-18 Listed $36,500 CBRMLS
• 1997-10-14 Sold (Public Records) $31,375 Public Records
• 1987-06-08 Sold (Public Records) $24,400 Public Records
• 1984-01-01 Sold (Public Records) $26,000 Public Records
• 1980-11-01 Sold (Public Records) $29,400 Public Records

Property tax history

+8.5%/yr

Latest (2024): $1,342 · +4.8% YoY. Source: county tax records.