740 Melrose AveColumbusOH43224
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 740 Melrose Ave, Columbus, OH, 43224 in Columbus at $218,900 earns $1,440/mo in rent and nets $0/mo after the $984/mo payment, a 7.89% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $60,478 over five years. Ziffy Mortgage underwrites this on a 1.46 DSCR without U.S. credit history. With $2,016/yr in principal paydown, total projected return reaches $83,425.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 4.2% |
| Monthly Cash Flow | $0 | $450 |
City averages based on Columbus market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,440 |
| Total Monthly Debt Service | $1,353 |
| DSCR Ratio | 1.06x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1942
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 43224, Columbus, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,678 (100%) |
| Owner Occupied HU | 8,030 (43.0%) |
| Renter Occupied HU | 9,316 (49.9%) |
| Vacant Housing Units | 1,332 ( 7.1%) |
| Median Home Value | $177,329 |
| Average Home Value | $238,273 |
Housing Distribution
Address Breakdown
Residential
17,308
Single Family
15,683
Multi-Family
1,625
Businesses
867
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1942
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 43224, Columbus, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,678 (100%) |
| Owner Occupied HU | 8,030 (43.0%) |
| Renter Occupied HU | 9,316 (49.9%) |
| Vacant Housing Units | 1,332 ( 7.1%) |
| Median Home Value | $177,329 |
| Average Home Value | $238,273 |
Housing Distribution
Address Breakdown
Residential
17,308
Single Family
15,683
Multi-Family
1,625
Businesses
867
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sean E O'Neil • C. R. O'Neil & Co.
Mls Name: Columbus and Central Ohio Regional MLS
Mls Provider:
Mls ID: #225011248
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.