3137 Westerville Rd Lot 4 · Columbus, OH 43224

$34,000

3 bd · 1.0 ba · 1,248 sqft · Manufactured · 146 Days on market

Built 1955 Average condition 5.09 ac lot $600/mo HOA · 49% of rent

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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 +29.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.8/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER IS MOTIVATED YOUR TOUR TODAY! No terms Expressed or Implied. This 2-bedroom 1 bath home awaits the ideal buyer to transform this home into a fantastic setting. Your new beginning awaits and ready for your personal touch. The living area is welcoming. This is an ideal home for the new owner to perform and make this your own. Located in a friendly community. Ample room for a loving family. We encourage all buyers to perform their own inspections. Fantastic opportunity, perfect for relaxing and entertaining.

Key facts

• 5.09 acre lot
• Built 1955
• Listed 145 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $34k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $30k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Linden-Mckinley Stem Academy (math 4% / reading 13%, grade F, #756 of 781 statewide, top 97%, 776 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 101 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $235 of loan paydown is wiped out by about $1k 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 + 4.2% rent growth), your $10k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask is 3300% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 3.57% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.61%
• DSCR: 1.69
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.16% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.44×
• Total profit: $4,196
• Equity at exit: $5,070

10-year hold

• IRR: 22.4%
• Equity multiple: 3.25×
• Total profit: $21,400
• Equity at exit: $2,940

Cash invested: $9,520 (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: 101
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$178
• Tax est. 1.5%: −$42 /mo · $510/yr
• Insurance: −$14
• HOA: −$600
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $124

Break-even live

Break-even rent $1,057

Max offer price $34,000

Occupancy floor 85%

Sensitivity live

Price	-10% $147	-5% $136	+0% $124	+5% $112	+10% $100
Rent	-10% $28	-5% $76	+0% $124	+5% $172	+10% $220
Rate	-1.0pp $141	-0.5pp $132	base $124	+0.5pp $115	+1.0pp $106

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1952 Oakland Park Ave Unit C Columbus, OH	2.0	1.0	1000	$900	$0.90	25d	1	0.16mi
1952 Oakland Park Ave Apt A Columbus, OH	2.0	1.0	1000	$1,050	$1.05	45d	1	0.16mi
1954 Oakland Park Ave Unit C Columbus, OH	2.0	1.0	1000	$1,050	$1.05	45d	1	0.17mi
3257 Cleveland Ave Apt C Columbus, OH	2.0	1.0	975	$1,000	$1.03	45d	1	0.33mi
1928 Agler Rd Columbus, OH	2.0	1.0	1000	$875	$0.88	45d	1	0.39mi
2846 Baughman Ave Columbus, OH	2.0	1.0	765	$950	$1.24	45d	1	0.50mi
2844 Baughman Ave Columbus, OH	2.0	1.0	1020	$950	$0.93	17d	1	0.50mi
2836-2850 Baughman Ave Unit 2844 Columbus, OH	2.0	1.0	1020	$950	$0.93	17d	1	0.51mi
2836-2850 Baughman Ave Unit 2846 Columbus, OH	2.0	1.0	765	$950	$1.24	45d	1	0.51mi
1849 Robert St Columbus, OH	3.0	1.0	816	$1,300	$1.59	5d	1	0.52mi
2132 Elmore Ave Columbus, OH	3.0	1.0	1000	$1,245	$1.25	25d	1	0.61mi
2718 Fern Ave Columbus, OH	3.0	1.0	1100	$1,640	$1.49	45d	1	0.65mi
3333 Dresden St Columbus, OH	4.0	2.0	1130	$3,150	$2.79	45d	1	0.69mi
2707 Woodland Ave Columbus, OH	3.0	1.0	957	$1,400	$1.46	19d	1	0.72mi
2919 Bridgewalk St Unit 2919 Columbus, OH	2.0	1.0	806	$995	$1.23	9d	1	0.73mi
2765 Cleveland Ave Unit B Columbus, OH	2.0	1.0	1100	$990	$0.90	19d	1	0.73mi
1549-1551 Oakland Park Ave Columbus, OH	2.0	1.0	832	$1,100	$1.32	23d	1	0.74mi
2901 Bridgewalk St Unit 2901 Columbus, OH	3.0	1.5	950	$1,295	$1.36	25d	1	0.76mi
1709 E Weber Rd Columbus, OH	3.0	1.0	1154	$1,100	$0.95	45d	1	0.83mi
2590 Parkwood Ave Unit 2590 Columbus, OH	3.0	1.0	1152	$1,400	$1.22	25d	1	0.83mi
2540 Parkwood Ave Columbus, OH	4.0	1.0	1374	$1,400	$1.02	45d	1	0.90mi
2761 Wedge St Columbus, OH	2.0	1.0	765	$970	$1.27	9d	1	0.91mi
2761 Wedge St Columbus, OH	2.0	1.0	765	$995	$1.30	23d	1	0.91mi
1536 E Weber Rd Columbus, OH	3.0	2.0	1332	$1,695	$1.27	25d	1	0.95mi
1536 E Weber Rd Columbus, OH	3.0	2.0	1332	$1,695	$1.27	21d	1	0.95mi
2695 Divot Pl Unit 2676 Columbus, OH	3.0	2.0	1050	$1,149	$1.09	45d	1	0.97mi
3461 Gerbert Rd Columbus, OH	3.0	1.0	900	$1,350	$1.50	45d	1	0.99mi
2228 Minnesota Ave Columbus, OH	2.0	1.0	1025	$1,245	$1.21	17d	1	1.03mi
3267 Walmar Dr Columbus, OH	3.0	1.0	1106	$1,550	$1.40	25d	1	1.03mi
1517 Elmore Ave Columbus, OH	2.0	1.0	720	$1,600	$2.22	16d	1	1.08mi
1358 Pauline Ave Columbus, OH	2.0	1.5	930	$1,650	$1.77	25d	1	1.12mi
1449 Elmore Ave Columbus, OH	2.0	1.0	850	$1,025	$1.21	16d	1	1.13mi
1530 Genessee Ave Unit B Columbus, OH	2.0	1.0	800	$1,150	$1.44	5d	1	1.14mi
1524 Genessee Ave Unit A Columbus, OH	2.0	1.0	800	$1,150	$1.44	4d	1	1.15mi
1576-1578 Arlington Ave Unit 1576 Columbus, OH	2.0	1.0	902	$1,000	$1.11	45d	1	1.16mi
2766 Stonehenge Dr Columbus, OH	2.0	1.0	880	$899	$1.02	25d	1	1.18mi
1356 Acton Rd Columbus, OH	3.0	1.5	1184	$2,000	$1.69	19d	1	1.19mi
3327 McGuffey Rd Columbus, OH	3.0	1.0	1100	$1,335	$1.21	9d	1	1.19mi
3137 Mcguffey Rd Columbus, OH	2.0	1.0	950	$950	$1.00	45d	1	1.24mi
3054 McGuffey Rd Columbus, OH	3.0	1.0	1106	$1,450	$1.31	45d	1	1.24mi

HOA detail

• Monthly dues: $600 · $7,200/yr

Listing history 13 events

1. 2026-05-04
   historical $1,000
2. 2026-04-01
   listed $1,000
3. 2026-03-05
   price $34,000 519-char remark

   Show marketing remark (519 chars)

   SELLER IS MOTIVATED YOUR TOUR TODAY! No terms Expressed or Implied. This 2-bedroom 1 bath home awaits the ideal buyer to transform this home into a fantastic setting. Your new beginning awaits and ready for your personal touch. The living area is welcoming. This is an ideal home for the new owner to perform and make this your own. Located in a friendly community. Ample room for a loving family. We encourage all buyers to perform their own inspections. Fantastic opportunity, perfect for relaxing and entertaining.

4. 2026-02-02
   price $38,900 519-char remark

   Show marketing remark (519 chars)

   SELLER IS MOTIVATED YOUR TOUR TODAY! No terms Expressed or Implied. This 2-bedroom 1 bath home awaits the ideal buyer to transform this home into a fantastic setting. Your new beginning awaits and ready for your personal touch. The living area is welcoming. This is an ideal home for the new owner to perform and make this your own. Located in a friendly community. Ample room for a loving family. We encourage all buyers to perform their own inspections. Fantastic opportunity, perfect for relaxing and entertaining.

5. 2026-01-22
   price $39,000 519-char remark

   Show marketing remark (519 chars)

   SELLER IS MOTIVATED YOUR TOUR TODAY! No terms Expressed or Implied. This 2-bedroom 1 bath home awaits the ideal buyer to transform this home into a fantastic setting. Your new beginning awaits and ready for your personal touch. The living area is welcoming. This is an ideal home for the new owner to perform and make this your own. Located in a friendly community. Ample room for a loving family. We encourage all buyers to perform their own inspections. Fantastic opportunity, perfect for relaxing and entertaining.

6. 2026-01-16
   price $41,000 519-char remark

   Show marketing remark (519 chars)

   SELLER IS MOTIVATED YOUR TOUR TODAY! No terms Expressed or Implied. This 2-bedroom 1 bath home awaits the ideal buyer to transform this home into a fantastic setting. Your new beginning awaits and ready for your personal touch. The living area is welcoming. This is an ideal home for the new owner to perform and make this your own. Located in a friendly community. Ample room for a loving family. We encourage all buyers to perform their own inspections. Fantastic opportunity, perfect for relaxing and entertaining.

7. 2025-12-28
   listed $44,000 Active 519-char remark

   Show marketing remark (519 chars)

   SELLER IS MOTIVATED YOUR TOUR TODAY! No terms Expressed or Implied. This 2-bedroom 1 bath home awaits the ideal buyer to transform this home into a fantastic setting. Your new beginning awaits and ready for your personal touch. The living area is welcoming. This is an ideal home for the new owner to perform and make this your own. Located in a friendly community. Ample room for a loving family. We encourage all buyers to perform their own inspections. Fantastic opportunity, perfect for relaxing and entertaining.

8. 2024-08-15
   historical
9. 2024-07-11
   price $40,000
10. 2024-06-10
    listed $42,000 Active
11. 2024-05-13
    soldstatus $32,600 Closed
12. 2024-05-05
    status Pending
13. 2024-04-22
    listed $35,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $14,564
• − Mortgage interest: −$1,905
• − Property taxes: −$510
• − Insurance: −$170
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − HOA: −$7,200
• − Depreciation: −$989
• Taxable income: $1,460
• Est. tax owed @ 24.0%: −$350
• After-tax cash flow: $1,135/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.

Condition & rehab AI · 10 photos

Average 55/100 Cosmetic rehab

This 2-bedroom, 1-bath home is in average condition with some cosmetic repairs and maintenance needed. It has potential for significant value increase with updates to the kitchen and exterior.

Repairs flagged

• Minor Kitchen cabinets — Light wear and tear, but not structural damage.
• Minor Bathroom tiles — Some discoloration, but not major damage.
• Minor Exterior siding — Some discoloration, but not major damage.
• Minor Interior walls — Paint appears faded, but not major damage.
• Minor Landscaping — Overgrown and in need of trimming, but not major damage.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and value.
• Both Replace kitchen cabinets — New cabinets can significantly improve the kitchen's functionality and value.
• Both Replace bathroom tiles — New tiles can improve the bathroom's appearance and functionality.
• Both Paint exterior siding — Fresh paint can improve the home's curb appeal and value.
• Both Trim and maintain landscaping — A well-maintained yard can improve the home's curb appeal and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Light wear and tear, but not structural damage.	Minor	$500–3,000
Bathroom tiles · Some discoloration, but not major damage.	Minor	$500–3,000
Exterior siding · Some discoloration, but not major damage.	Minor	$500–3,000
Interior walls · Paint appears faded, but not major damage.	Minor	$500–3,000
Landscaping · Overgrown and in need of trimming, but not major damage.	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and value. ↑
• Both Replace kitchen cabinets — New cabinets can significantly improve the kitchen's functionality and value. ↑
• Both Replace bathroom tiles — New tiles can improve the bathroom's appearance and functionality. ↑
• Both Paint exterior siding — Fresh paint can improve the home's curb appeal and value. ↑
• Both Trim and maintain landscaping — A well-maintained yard can improve the home's curb appeal and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-97.1% since first listed

13 events — show timeline

• 2026-05-04 Rental Removed $1,000 COLUMBUSMLS
• 2026-04-01 Listed for Rent $1,000 COLUMBUSMLS
• 2026-03-05 Price Changed $34,000 CBRMLS
• 2026-02-02 Price Changed $38,900 CBRMLS
• 2026-01-22 Price Changed $39,000 CBRMLS
• 2026-01-16 Price Changed $41,000 CBRMLS
• 2025-12-28 Listed $44,000 CBRMLS
• 2024-08-15 Listing Removed — CBRMLS
• 2024-07-11 Price Changed $40,000 CBRMLS
• 2024-06-10 Listed $42,000 CBRMLS
• 2024-05-13 Sold (MLS) $32,600 CBRMLS
• 2024-05-05 Pending — CBRMLS
• 2024-04-22 Listed $35,000 CBRMLS