Property Report :

Belle Solutions LLC - 255 S Princeton

255 S Princeton Ave, Columbus, OH 43223

Real Estate Analysis

Created on: Apr 15, 2025

Author: Nehemiah Guy

Company: Bespoke Financial Inc

255 S Princeton Ave, Columbus, OH 43223

Singlefamily: 3 bedrooms , 1 bathroom

Year built: 1908, Size: 1152 SF

Investment strategy: Rental Property

Purchase Price$ 154,900

Rent$ 1,560/mo

Monthly Cash Flow$ 180

Cash on Cash Return21.65 %

Financial Analysis

Cash on Cash Return	21.65 %
Internal Rate of Return (IRR)	73.24 %
Capitalization Rate	6.39 %
Gross Rent Multiplier (GRM)	12.29
Debt-coverage Ratio (DCR)	1.17
Operating Expense Ratio (OER)	19.11 %
After Repair Value	$ 230,000
Profit/Equity From Rehab	$ 65,100

Financial Breakdown

Purchase Price	$ 154,900
Purchase Costs	$ 10,000
Repair/Construction Costs	$ 0
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 164,900
Financing	$ 154,900
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 10,000
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 0
Cash During Rehab Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction. Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction.	$ 10,000

Operating Analysis

Rent	$ 1,560/mo
Gross Operating Income (GOI)	$ 18,158
Total Expenses	$ 3,470
Net Operating Income (NOI)	$ 14,688
Annual Debt Service	$ 12,523
Cash Flow Before Taxes (CFBT)	$ 2,165
Income Tax Liability	$ -201
Cash Flow After Taxes (CFAT)	$ 2,367

This home qualifies for up to 100% financing Welcome to 255 S Princeton Ave, just minutes from Downtown Columbus! This newly renovated home offers three bedrooms and one full bathroom with modern upgrades throughout. The kitchen boasts brand-new granite countertops, stainless steel appliances, and recessed lighting. Fresh paint and new flooring create a bright, modern atmosphere, while the newly installed central air unit, furnace, and water heater ensure comfort and reliability. Outside, enjoy a private fenced backyard and a two-car detached garage, perfect for outdoor gatherings and storage. With its stylish upgrades and prime location, this move-in-ready home offers comfort and convenience in a vibrant neighborhood.

Purchase Price	$ 154,900
Address	255 S Princeton Ave , Columbus, 43223, OH
MLS^® #	224032297
Listing Agent	Kristina Belle
Year Built	1908
Type	Singlefamily
Size	1152 SF
Bedrooms	3
Bathrooms	1

Property History

Date	Price	Event
10/7/2024	229800	Price Changed
9/18/2024	234900	Price Changed
9/10/2024	240000	Listed
5/16/2024	154900	Sold
5/14/2024	144000	Sold
4/12/2024		Listing removed
4/9/2024	160000	Listed

255 S Princeton Ave Columbus, OH 43223

$ 230,000

Property ARV
Singlefamily

Bldg type
1,152

SqFt
$ 200

per SqFt
3

Beds
1

Baths

255 S Princeton Ave Columbus, OH 43223

$ 1,560

Rent
Singlefamily

Bldg type
1,152

SqFt
3

Beds
1

Baths

Your rent is reasonable for the area.

Average

$ 1,424

Median

$ 1,400

25th %

$ 1,289

75th %

$ 1,560

#	Property address	Similarity	Distance	Beds	Baths	SqFt	Date Listed	Bldg type	Rent
1	130 Chicago Ave	94%	0.9mi	3	1	1,152	9/23/2024	Single Family	$ 1,600
2	165 S Princeton Ave	93%	0.2mi	3	1	1,240	5/30/2024	Single Family	$ 1,350
3	58 N Yale Ave	92%	0.8mi	3	1	1,056	10/31/2024	Single Family	$ 1,489

You can edit, sort, drag and reorder suggested comps below. Select the comps you want to include in the report. You can also add comps manually.

Property address	Similarity	Distance	Beds	Baths	SqFt	Date Listed	Bldg type	Rent
130 Chicago Ave	94%	0.9mi	3	1	1,152	9/23/2024	Single Family	$ 1,600
74 Stevens Ave	93%	0.9mi	3	1	1,170	7/1/2024	Single Family	$ 1,240
87 N Yale Ave	93%	0.5mi	3	1	1,215	8/18/2024	Single Family	$ 1,225
165 S Princeton Ave	93%	0.2mi	3	1	1,240	5/30/2024	Single Family	$ 1,350
299 Brehl Ave	93%	0.2mi	3	1	1,068	6/18/2024	Single Family	$ 1,174
85 N Yale Ave	93%	0.8mi	3	1	1,215	10/13/2024	Single Family	$ 1,225
191 Dana Ave	93%	0.2mi	3	1	1,276	10/31/2024	Single Family	$ 1,150
Lechner Ave, Unit 332	92%	1.6mi	3	1	1,120	8/4/2024	Single Family	$ 1,100
58 N Yale Ave	92%	0.8mi	3	1	1,056	10/31/2024	Single Family	$ 1,489
330 Midland Ave	92%	2.0mi	3	1	1,148	7/4/2024	Single Family	$ 995

Comps selected: 3

Annual Property Operating Data

Incomes		% of GOI
Gross Scheduled Income Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents. Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents.	$ 18,720
Total Gross Income	$ 18,720
Vacancy loss Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants. Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants.	$ 562
Gross Operating Income Gross Operating Income (GOI) An actual income which is expected to be collected in the property. Gross Operating Income (GOI) An actual income which is expected to be collected in the property.	$ 18,158	100.00 %
Expenses Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation). Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation).
Insurance	$ 1,200	6.61 %
Property tax	$ 2,270	12.50 %
Total Expenses	$ 3,470	19.11 %
Net Operating Income Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses. Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses.	$ 14,688	80.89 %

Cash Flow (Year 1)

Net Operating Income	$ 14,688	80.89 %
Annual Debt Service	$ 12,523	68.97 %
Cash Flow Before Taxes (CFBT) Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 2,165	11.92 %
Income Tax Liability	$ -201	-1.11 %
Cash Flow After Taxes (CFAT) Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 2,367	13.03 %

Operating Ratios

Operating Expense Ratio Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI). Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI).	19.11 %
Break-Even Ratio Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less. Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less.	88.08 %

Financial Measures

Net Present Value Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog. Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog.	$ 83,828
Internal Rate of Return Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero. Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero.	73.24 %
Profitability Index Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0 Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0	9.38
Annual Depreciation	$ 4,506

Holding period of 5 years and discount rate of 5.00% were used for calculation of NPV and IRR. The rest of the financial measures are for the 1st year only and therefore don't provide such an exact information.

Investment Return Ratios

Cash on Cash Return Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money. Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money.	21.65 %
Return on Investment Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year. Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year.	68.12 %
Capitalization Rate Capitalization Rate Calculated as ratio of the net operating income and the value of the property. Capitalization Rate Calculated as ratio of the net operating income and the value of the property.	6.39 %
Gross Rental Yield Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment. Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment.	12.09 %
Gross Rent Multiplier Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income. Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income.	12.29

Financing		% of ARV
Down Payment	$ 0	0.00 %
Loan	$ 154,900	67.35 %
Loan to Value Ratio Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price. Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price.		100.00 %
Loan to Cost Ratio Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs). Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs).		100.00 %
Debt Coverage Ratio		1.17

Loan Financing of: Purchase price ($ 154,900)
Type	Amortized
Loan Amount	$ 154,900
Down payment (0%)	$ 0
Amortization	30 years
Interest Rate	7.13 %
Monthly Payment	$ 1,043.59

This chart shows the process of accumulation of investor's equity. There is some equity created right at the beginning with the rehab/construction and later investor's equity is rising by paying off the principal of the loan and also by appreciation over the years. All the green parts is the cummulative equity belonging to the investor and the red part belongs to the lender.

Year	0	1	2	3	4	5
Operational Analysis
Gross Scheduled Income	0	18,720	19,094	19,476	19,866	20,263
Vacancy Loss	0	562	573	584	596	608
Gross Operating Income	0	18,158	18,522	18,892	19,270	19,655
Expenses	0	3,470	3,539	3,610	3,682	3,756
Net Operating Income	0	14,688	14,982	15,282	15,587	15,899
Loan Payment	0	12,523	12,523	12,523	12,523	12,523
Payment Interest Part	0	10,987	10,874	10,753	10,622	10,482
Payment Principal Part	0	1,536	1,649	1,770	1,901	2,041
Cash Flow
Repairs/Construction	0	0	0	0	0	0
Cash Flow Before Taxes	-10,000	2,165	2,459	2,759	3,064	3,376
Depreciation	0	4,506	4,506	4,506	4,506	4,506
Taxes	0	-201	-99	6	115	228
Cash Flow After Taxes	-10,000	2,367	2,559	2,753	2,950	3,148

Note: All amounts in the table above are in $

Resale Price Evaluation Methods

The property is sold after 5 years. Below is the resale price calculated using different methods.

Appreciation (3.00%)	$ 266,633
Cap Rate (6.39%) & NOI	$ 248,814
Gross Rent Multiplier	$ 249,034

Sale Proceeds

Projected Selling Price	$ 266,633
Costs of Sale (6.00%)	$ 15,998
1. Loan Balance Payoff	$ 146,003
Net Sale Proceeds Before Tax	$ 104,632

In the resale analysis we do not include any calculation for taxes that might be owed on sale of the property. The tax laws for the resale are rather complex and subjected to frequent changes.

Net Assets and Yield

Net Assets
Sale Proceeds Before Tax	$ 104,632
Investor Cash Outlay	$ 10,000
Net Assets	$ 94,632
Average Yield
Annual Net Assets	$ 18,926
Average Cash Flow (After Taxes)	$ 2,126
Average Annual Gain (After Taxes)	$ 21,052
Average Annual Yield (After Taxes)	13.59 %

This charts shows Net Present Value (NPV) when property is sold in various years, i.e. when sold in 5th year, the NPV is calculated from 5 years of Cash Flow (including the selling price) and this NPV is displayed in year 5. Optimal holding period can be estimated, using this method - when NPV is the highest. Please note that appreciation growth can change these numbers greatly. It sometimes makes sense to sell the property even before the end of the mortgage term.

Property Report: Belle Solutions LLC - 255 S Princeton RENTAL

Property Report :

Belle Solutions LLC - 255 S Princeton

255 S Princeton Ave, Columbus, OH 43223

Executive Summary

255 S Princeton Ave, Columbus, OH 43223

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Rehab

Cash During Rehab

Operating Analysis

Property Description

Property History

$ 230,000

Property ARV

Singlefamily

Bldg type

1,152

SqFt

$ 200

per SqFt

3

Beds

1

Baths

Comparative Rental Analysis

$ 1,560

Rent

Singlefamily

Bldg type

1,152

SqFt

3

Beds

1

Baths

Rentometer®

Rentometer®

Operating Analysis

Annual Property Operating Data

Gross Scheduled Income (GSI)

Gross Scheduled Income (GSI)

Vacancy and Credit Loss

Vacancy and Credit Loss

Gross Operating Income (GOI)

Gross Operating Income (GOI)

Operating Expenses

Operating Expenses

Net Operating Income (NOI)

Net Operating Income (NOI)

Cash Flow (Year 1)

Cash Flow

Cash Flow

Cash Flow

Cash Flow

Operating Ratios

Operating Expense Ratio

Operating Expense Ratio

Break-Even Ratio (BER)

Break-Even Ratio (BER)

Financial Analysis

Financial Measures

Net Present Value (NPV)

Net Present Value (NPV)

Internal Rate of Return (IRR)

Internal Rate of Return (IRR)

Profitability Index

Profitability Index

Investment Return Ratios

Cash on Cash Return

Cash on Cash Return

Return on Investment

Return on Investment

Capitalization Rate

Rentometer^®

Rentometer^®