1856 Londoncrest Ct

Columbus, OH 43123

$124,900C+

3 bd · 2.0 ba · 1,848 sqft · Built 2001 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,055/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$208
• HOA: −$550
• Vac / Maint / Mgmt: −$432
• Net cashflow: $211/mo
• Annual: $2,527/yr
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• 1% rule: 1.65%
• Cash to close: $34,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $125k. Condition is rated fair.
• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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.
• South-Western City (suburban): math 40% / reading 48% proficiency, ranked #500 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: James A Harmon Elementary School (math 52% / reading 42%, grade D-, #942 of 1,584 statewide, top 61%, 524 students, 63% FRL); Finland Middle School (math 37% / reading 40%, grade F, #529 of 654 statewide, top 81%, 637 students, 80% FRL); Franklin Heights High School (math 22% / reading 43%, grade F, #604 of 781 statewide, top 77%, 1,338 students, 65% FRL) — zoned schools average 69% FRL vs 51% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 27% of rent.
• Market conditions: Rents rising (+3.7%/yr); 332 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 8.3% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of wear and discoloration suggest significant damage.
• Moderate: exterior siding — Minor damage and discoloration are visible on the siding.
• Minor: landscaping — Some overgrown areas and dead plants are visible in the landscaping.