245 E Tulane Rd
Est. value
Since purchase
Ownership
The plan
Clintonville fix and hold: add a second bath, rent to Ohio State staff at $2,100
A 1925 Clintonville foursquare bought at $224k. Add a bathroom and update the kitchen, then rent long term in a neighborhood with under 2% vacancy.
- Month 0 · Sep 2026Close and begin repairs
- 2Month 3 · Dec 2026Repairs done, leased
- Month 96 · Sep 2034Hold complete, exit review
The deal
245 E Tulane Rd is a 1925 American foursquare in Clintonville, three blocks from High St and ten minutes from the Ohio State medical campus. Houses here rarely list; this one came through an estate at $224,000 with original woodwork, a dry basement and a 2018 roof. The one weakness is a single bathroom, which caps rent.
The plan
Spend $42,000 over four months to add a second full bath in the existing back bedroom closet and utility space, update the kitchen with new cabinets and appliances, and refinish the floors. Then lease at $2,100 a month, in line with renovated 3/2 rentals on Tulane and Weisheimer. Rehab is permitted and the contractor has done three Clintonville bath additions.
The exit
This is a long-term hold with no planned sale; the model assumes a 96-month horizon and a refinance in year two once the appraisal reflects the second bath. Projected stabilized value is $335,000. Net rent after the refinance is distributed quarterly pro rata, and any refinance proceeds above the rehab cost are distributed as a one-time payout.
Resale market
Investors who want out early list here. Buy all or part. Ask is compared to today's fair value per percent.
Local market, zip 43202
Zillow Home Value Index, zip code level, Zillow Research public data, not a valuation of this property.
Jump in
46.00% availablePriced at purchase price × percent. No markup. Stripe test mode. Target values are the owner's plan, not a forecast.