713 Reed St · Columbus, IN 47201

$245,000

3 bd · 2.0 ba · 2,272 sqft · MultiFamily public records · 32 Days on market

Built 1900 4,880 sqft lot Est $254k · at est.

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Why this score? — see what drove the C- 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 +19.0/30.0
• ARV discount +9.2/15.0
• DSCR +6.0/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

NEW 2004-ROOF, $10,000. NEWER AMP SERVICE-2004. 2 NEWER WATER HEATERS.DOWN APT-2BR, LR & KIT. UPPER-2 BR, KIT, LR, LARGE CLOSETS. HOME BEING SOLD "AS IS".

Key facts

• Basement access
• New siding
• Parking in the rear

Tags

• INCOME PRODUCING PROPERTY
• NEW ROOF
• NEW SIDING
• BASEMENT ACCESS
• PARKING IN THE REAR
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Two-unit property; Gross income reported: 2100 (monthly total); Expenses reported: 3400; Insurance expense reported: 1900; Owner pays water and sewer; Unit rents reported: One unit at 1100/month, one unit at 1000/month

Exterior

• Parking: Detached 1-car garage
• Utilities: Water and sewer available (building utilities); Solid waste: No
• Home design: Duplex residential income property; Two levels
• Construction: Vinyl siding; Block foundation
• Exterior features: Asphalt and shingle roof; City lot with sidewalks; Asphalt road frontage on a city street; property has access road/frontage road

Interior

• Kitchen: Unit 1 kitchen (appliances include refrigerator); Unit 2 kitchen (appliances include refrigerator)
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Heating & cooling: Forced air heating (natural gas); Window air-conditioning units
• Interior features: Full basement with interior and exterior entry; Conversion property (previously used differently)
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 1×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive. Per door: $127/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (2.2% below list).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.5% 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 79/100 on livability (#24 in IN, #1,978 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Bartholomew Consolidated School Corporation (urban): math 38% / reading 45% proficiency, ranked #119 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lillian Schmitt Elementary School (math 24% / reading 29%, grade F, #755 of 994 statewide, top 76%, 677 students, 74% FRL); Columbus North High School (math 40% / reading 65%, grade C-, #102 of 369 statewide, top 28%, 2,224 students, 39% FRL) — zoned schools average 56% FRL vs 38% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 340 active listings in the ZIP; solid renter incomes; 195 units permitted in Bartholomew County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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.

Risks & watch-outs

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

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.44%
• DSCR: 1.20
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $254,464
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
930 7th St	0.22mi	4/3.0 (+1)	2,600 (+14%)	4mo	$290,000	$112	53
2019,2021,2023 Ohio Ave	0.61mi	2/3.0 (-1)	2,508 (+10%)	2mo	$540,000	$215	44
1702 Maple St	0.67mi	3/3.0	2,421 (+7%)	16mo	$187,400	$77	41

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

Projected returns pro-forma

-3.0% appreciation · 3.15% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-23,153
• Equity at exit: $36,530

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $2,179
• Equity at exit: $21,183

Cash invested: $68,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47201

• Rents YoY: 3.1%
• Active inventory: 340
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$252 /mo · $3,022/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $254

Break-even live

Break-even rent $2,074

Max offer price $245,000

Occupancy floor 84%

Sensitivity live

Price	-10% $393	-5% $323	+0% $254	+5% $185	+10% $115
Rent	-10% $65	-5% $159	+0% $254	+5% $349	+10% $443
Rate	-1.0pp $377	-0.5pp $316	base $254	+0.5pp $191	+1.0pp $126

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,085
1× unit	2	1	$1,311
Total (2 units)			$2,396

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $245,000 Active 32 DOM
2. 2026-06-18
   days on market $245,000 Active 31 DOM
3. 2026-06-17
   days on market $245,000 Active 30 DOM
4. 2026-06-16
   days on market $245,000 Active 29 DOM
5. 2026-06-15
   days on market $245,000 Active 28 DOM
6. 2026-06-14
   days on market $245,000 Active 26 DOM
7. 2026-06-13
   days on market $245,000 Active 25 DOM
8. 2026-06-10
   days on market $245,000 Active 23 DOM
9. 2026-06-09
   days on market $245,000 Active 22 DOM
10. 2026-06-08
    days on market $245,000 Active 21 DOM
11. 2026-06-07
    days on market $245,000 Active 20 DOM
12. 2026-06-05
    days on market $245,000 Active 17 DOM
13. 2026-06-03
    days on market $245,000 Active 16 DOM
14. 2026-06-02
    days on market $245,000 Active 15 DOM
15. 2026-06-01
    days on market $245,000 Active 14 DOM
16. 2026-05-31
    days on market $245,000 Active 13 DOM
17. 2026-05-30
    days on market $245,000 Active 12 DOM
18. 2026-05-18
    listed $245,000 Active
19. 2025-05-27
    historical
20. 2025-05-20
    price $199,000
21. 2025-02-27
    price $210,000
22. 2024-11-27
    listed $225,000 Active
23. 2005-03-05
    listed $55,000 168-char remark

    Show marketing remark (168 chars)

    NEW 2004-ROOF, $10,000. NEWER AMP SERVICE-2004. 2 NEWER WATER HEATERS.DOWN APT-2BR, LR & KIT. UPPER-2 BR, KIT, LR, LARGE CLOSETS. HOME BEING SOLD "AS IS".

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $3,022 · $252/mo
• Projected year-2 tax: $3,022 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,752
• − Mortgage interest: −$13,724
• − Property taxes: −$3,022
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − Depreciation: −$7,127
• Taxable loss: −$947
• Est. tax savings @ 24.0%: +$227
• After-tax cash flow: $3,276/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: Bartholomew Consolidated School Corporation
• NCES district ID: 1800360
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $54,685
• Composite: 36.16/100
• National rank: #4736
• State rank: #119 of 301 in IN

Livability — Columbus

• Score: 79/100
• State rank: #24
• US rank: #1978

Category grades

Amenities D+ Commute F Cost of living A+ Crime A+ Employment B Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, IN
• County: Bartholomew County · 74,100 people
• City population: 74,100
• Metro: Columbus, IN
• Population (ZIP): 47,900
• Household income: $83,958
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1455.0

Population outlook (Bartholomew County) Hauer SSP2

• Today (2025): 90,162 people
• By 2030: 94,432 · +4.7%
• By 2040: 102,659 · +13.9%
• By 2050: 109,794 · +21.8%
• By 2075: 123,419 · +36.9%
• By 2100: 121,047 · +34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Asian 9% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Bartholomew

• 2024 margin: Strong R (+27.3) · D 35.3% · R 62.7% · Other 2.0%
• 2008→2024 swing: -16.1pp toward R · 2008: -11.3pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+26.2 2016: R+33.3 2012: R+25.4 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.94%
• Current HPI: 150.2246
• Rent YoY: ▲ 3.15%
• Metro: Columbus, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+345.5% since first listed

6 events — show timeline

• 2026-05-18 Listed $245,000 MIBOR as Distributed by MLS Grid
• 2025-05-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-05-20 Price Changed $199,000 MIBOR as Distributed by MLS Grid
• 2025-02-27 Price Changed $210,000 MIBOR as Distributed by MLS Grid
• 2024-11-27 Listed $225,000 MIBOR as Distributed by MLS Grid
• 2005-03-05 Listed $55,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2024): $3,022 · -12.8% YoY. Source: county tax records.