148 N Princeton Ave · Columbus, OH 43222

$125,000

3 bd · 2.0 ba · 1,506 sqft · SingleFamily public records · 66 Days on market

Built 1900 4,356 sqft lot $83/sqft · 47% below area Est $234k · 47% under

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Why this score? — see what drove the A- 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

INVESTOR FOCUSED OPEN HOUSE 4/13 11AM-12PM. Calling investors, rehabbers, and landlords--don't miss this strong value-add opportunity. This property offers substantial upside based on current market comparables and provides a solid foundation for your next renovation project. Major prep work has already been completed: interior demo is done, the basement has been professionally waterproofed, and the garage block has been structurally reinforced. The home now stands as a true blank canvas, ready for your design and investment vision. A full renovation is needed to bring the property to market- or rent-ready condition and is priced accordingly. Sold AS-IS.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: 50 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $1,620/mo this rent would consume 60% of the median local household income ($32k/yr) (locally 126% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $90k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.30% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.47%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (median comp): $234,032
• List price: $125,000
• Delta: -46.59%
• 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
158 Wisconsin Ave	0.13mi	3/1.5	1,343 (-11%)	2mo	$256,000	$191	72
63 Hayden Ave	0.16mi	3/2.5	1,672 (+11%)	1mo	$345,000	$206	71
61 Dakota Ave	0.48mi	3/2.0	1,468 (-2%)	3mo	$280,000	$191	71
72 Avondale Ave	0.55mi	3/2.0	1,518 (+1%)	3mo	$255,000	$168	70
53 Rodgers Ave	0.43mi	4/1.5 (+1)	1,480 (-2%)	1mo	$75,000	$51	70
130 Wisconsin Ave	0.14mi	3/2.5	1,712 (+14%)	0mo	$345,000	$202	68
44 Brehl Ave	0.29mi	3/1.5	1,368 (-9%)	2mo	$90,000	$66	68
134 Schultz Ave	0.37mi	3/2.0	1,388 (-8%)	4mo	$249,000	$179	67
69 Rodgers Ave	0.42mi	3/2.0	1,348 (-10%)	2mo	$245,000	$182	62
300 S Cypress Ave	0.72mi	2/2.0 (-1)	1,529 (+2%)	3mo	$255,000	$167	57
112 S Cypress Ave	0.51mi	3/1.5	1,320 (-12%)	4mo	$157,500	$119	51
273 Avondale Ave	0.74mi	3/1.5	1,342 (-11%)	0mo	$246,000	$183	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 3.77×
• Total profit: $96,818
• Equity at exit: $112,610

10-year hold

• IRR: 30.8%
• Equity multiple: 8.50×
• Total profit: $262,519
• Equity at exit: $242,848

Cash invested: $35,000 (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 43222

• Active inventory: 50
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$656
• Tax from tax record: −$121 /mo · $1,450/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $451

Break-even live

Break-even rent $1,049

Max offer price $125,000

Occupancy floor 67%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Chicago Ave Columbus, OH	2.0	2.5	1260	$1,895	$1.50	24d	1	0.05mi
121 Chicago Ave Columbus, OH	2.0	2.0	1234	$1,550	$1.26	44d	1	0.06mi
51 N Princeton Ave Columbus, OH	3.0	1.0	1188	$1,175	$0.99	24d	1	0.13mi
162 Wisconsin Ave Columbus, OH	4.0	2.5	1930	$1,900	$0.98	44d	1	0.15mi
163 N Central Ave Columbus, OH	2.0	2.5	1100	$1,650	$1.50	44d	1	0.16mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	20d	1	0.20mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	7d	1	0.20mi
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	44d	1	0.25mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	44d	1	0.31mi
228 Schultz Ave Unit 1407024P Columbus, OH	4.0	1.5	1991	$6,208	$3.12	15d	1	0.38mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	21d	1	0.39mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$1,295	$1.37	15d	12	0.39mi
76 Rodgers Ave Columbus, OH	3.0	1.5	1422	$1,695	$1.19	24d	1	0.44mi
189 W Park Ave Unit 189 Columbus, OH	3.0	2.0	1276	$1,395	$1.09	7d	1	0.48mi
153 S Cypress Ave Columbus, OH	3.0	1.0	1472	$1,650	$1.12	7d	1	0.53mi
135-137 Dakota Ave Unit 135 Columbus, OH	3.0	1.5	2200	$1,800	$0.82	44d	1	0.54mi
185 S Cypress Ave Columbus, OH	2.0	1.0	1104	$1,695	$1.54	44d	1	0.56mi
125 Avondale Ave Columbus, OH	3.0	1.5	1344	$1,695	$1.26	44d	1	0.59mi
158 Dakota Ave Columbus, OH	4.0	2.0	1800	$2,045	$1.14	7d	1	0.59mi
60 Martin Ave Columbus, OH	3.0	2.0	1807	$1,650	$0.91	24d	1	0.65mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	0.79mi
1314 City View Dr Columbus, OH	1.0–3.0	1.0–2.0	961	$3,539	$3.68	2d	51	0.84mi
827 W Rich St Unit 827 Columbus, OH	2.0	1.0	1078	$1,175	$1.09	24d	1	0.87mi
821 W Rich St Unit 821 Columbus, OH	2.0	1.0	1078	$1,175	$1.09	24d	1	0.87mi
378 Hawkes Ave Columbus, OH	3.0	2.0	1200	$1,649	$1.37	24d	1	0.91mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.94mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	15d	1	0.94mi
1444 City View Dr Columbus, OH	1.0–2.0	1.0–2.0	883	$2,621	$2.97	2d	38	0.95mi
741 Sullivant Ave Columbus, OH	2.0	1.5	1250	$1,290	$1.03	24d	1	1.03mi
622 W State St Columbus, OH	2.0	2.0	1200	$2,190	$1.82	17d	1	1.03mi
908 Thomas Rd Unit 908 Grandview Heights, OH	3.0	1.0	1100	$1,750	$1.59	17d	1	1.14mi
257 S Skidmore St Columbus, OH	3.0	2.0	1224	$1,895	$1.55	44d	1	1.15mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$3,599	$3.09	44d	15	1.17mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$3,649	$3.13	2d	52	1.17mi
274 S Skidmore St Columbus, OH	2.0	1.0	1402	$1,695	$1.21	44d	1	1.18mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	44d	1	1.18mi
285 S Gift St Columbus, OH	3.0	2.0	1641	$1,700	$1.04	16d	1	1.21mi
285 S Gift St Columbus, OH	3.0	2.0	1641	$1,700	$1.04	24d	1	1.21mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	24d	1	1.22mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	20d	1	1.22mi

Listing history 26 events

1. 2026-06-18
   days on market $125,000 Active 66 DOM
2. 2026-06-17
   days on market $125,000 Active 65 DOM
3. 2026-06-16
   days on market $125,000 Active 64 DOM
4. 2026-06-15
   days on market $125,000 Active 63 DOM
5. 2026-06-13
   days on market $125,000 Active 61 DOM
6. 2026-06-13
   days on market $125,000 Active 60 DOM
7. 2026-06-09
   days on market $125,000 Active 57 DOM
8. 2026-06-08
   days on market $125,000 Active 56 DOM
9. 2026-06-07
   days on market $125,000 Active 55 DOM
10. 2026-06-05
    days on market $125,000 Active 52 DOM
11. 2026-06-03
    days on market $125,000 Active 51 DOM
12. 2026-06-02
    days on market $125,000 Active 50 DOM
13. 2026-06-01
    days on market $125,000 Active 49 DOM
14. 2026-05-31
    days on market $125,000 Active 48 DOM
15. 2026-04-13
    listed $125,000 Active 662-char remark

    Show marketing remark (662 chars)

    INVESTOR FOCUSED OPEN HOUSE 4/13 11AM-12PM. Calling investors, rehabbers, and landlords--don't miss this strong value-add opportunity. This property offers substantial upside based on current market comparables and provides a solid foundation for your next renovation project. Major prep work has already been completed: interior demo is done, the basement has been professionally waterproofed, and the garage block has been structurally reinforced. The home now stands as a true blank canvas, ready for your design and investment vision. A full renovation is needed to bring the property to market- or rent-ready condition and is priced accordingly. Sold AS-IS.

16. 2026-04-10
    historical $125,000 662-char remark

    Show marketing remark (662 chars)

    INVESTOR FOCUSED OPEN HOUSE 4/13 11AM-12PM. Calling investors, rehabbers, and landlords--don't miss this strong value-add opportunity. This property offers substantial upside based on current market comparables and provides a solid foundation for your next renovation project. Major prep work has already been completed: interior demo is done, the basement has been professionally waterproofed, and the garage block has been structurally reinforced. The home now stands as a true blank canvas, ready for your design and investment vision. A full renovation is needed to bring the property to market- or rent-ready condition and is priced accordingly. Sold AS-IS.

17. 2024-07-23
    soldstatus $90,000
18. 2024-07-19
    soldstatus $90,000 Closed 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

19. 2024-07-03
    status Pending 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

20. 2024-06-26
    price $95,000 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

21. 2024-06-24
    status Active 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

22. 2024-06-20
    historical Contingent Finance and Inspection 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

23. 2024-06-13
    status Active 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

24. 2024-06-09
    status Pending 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

25. 2024-06-03
    listed $99,900 Active 158-char remark

    Show marketing remark (158 chars)

    Calling all INVESTORS! This home is a blank canvas! Franklinton home ready for you to put your touches on and get ready make someone's dream home a reality!

26. 2024-02-06
    soldstatus $68,500

ⓘ 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: $1,450 · $121/mo
• Projected year-2 tax: $1,700 · $142/mo
• Expected delta: +$250/yr (+$21/mo · 17.2%)

ⓘ 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 · 0% 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 100% 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: $19,437
• − Mortgage interest: −$7,002
• − Property taxes: −$1,450
• − Insurance: −$625
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$3,636
• Taxable income: $3,614
• Est. tax owed @ 24.0%: −$867
• After-tax cash flow: $4,547/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): 4,819
• Household income: $32,321
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 126.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 43% Hispanic / Latino 28% Two or more races 21% Black 18% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 5%
• Common ancestry: Lithuanian 1% Slovak 1% Ukrainian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 86% English-only · Spanish 11% Korean 1% Russian/Polish/Slavic 0%

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: ▲ 231.44%
• Current HPI: 654.0855
• 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

+82.5% since first listed

12 events — show timeline

• 2026-04-13 Listed $125,000 CBRMLS
• 2026-04-10 Coming Soon $125,000 CBRMLS
• 2024-07-23 Sold (Public Records) $90,000 Public Records
• 2024-07-19 Sold (MLS) $90,000 CBRMLS
• 2024-07-03 Pending — CBRMLS
• 2024-06-26 Price Changed $95,000 CBRMLS
• 2024-06-24 Relisted — CBRMLS
• 2024-06-20 Contingent — CBRMLS
• 2024-06-13 Relisted — CBRMLS
• 2024-06-09 Pending — CBRMLS
• 2024-06-03 Listed $99,900 CBRMLS
• 2024-02-06 Sold (Public Records) $68,500 Public Records

Property tax history

+21.1%/yr

Latest (2024): $1,450 · -0.6% YoY. Source: county tax records.