3696-3698 Arnelle Rd · Columbus, OH 43228

$1

4 bd · 2.0 ba · 1,944 sqft · MultiFamily public records · 1 Days on market

Built 1967 8,712 sqft lot ↓ 27% since listing

---

Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

Court Ordered Sale by Private Selling Officer. Auction ends on May 5, 2026. All information we have on the property is included. We have no additional information, property condition is unknown. NO SHOWINGS, NO trespassing for any reason. Information is thought to be correct but not guaranteed. 5% Buyer Premium added to the high bid, $5,000 deposit is due within 24 hours of bidding end.

Key facts

• 8,712 sq ft lot
• Built 1967

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $268,272 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $1.

Deal economics

• At list price, monthly cash flow is $-5 ($-55/yr) — negative. Per door: $-2/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 6.3% 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.
• South-Western City (suburban): math 40% / reading 48% proficiency, ranked #500 of 656 in OH (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.6%/yr); 192 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,341/mo this rent would consume 46% of the median local household income ($62k/yr) (locally 3284% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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: property tax is 402408.0% of price.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.87% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $268,272
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3696-3698 Arnelle Rd	0.00mi	4/—	1,944 (0%)	0mo	$159,810	$82	100
1123-1125 Mccarley Dr W	0.06mi	4/—	1,688 (-13%)	16mo	$248,000	$147	62
885-887 Derrer Rd	0.38mi	5/— (+1)	1,667 (-14%)	11mo	$230,000	$138	45
639 Derrer Rd	0.70mi	4/—	1,684 (-13%)	4mo	$145,000	$86	42
886 Derrer Rd	0.39mi	5/— (+1)	1,667 (-14%)	17mo	$216,900	$130	39
3468 Race St	0.74mi	4/—	1,706 (-12%)	13mo	$265,000	$155	34
3614 Eakin Rd	0.55mi	5/— (+1)	1,673 (-14%)	14mo	$207,000	$124	34
3476-3478 Race St	0.73mi	4/—	1,706 (-12%)	15mo	$245,000	$144	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.33×
• Total profit: $-50,588
• Equity at exit: $40,000

10-year hold

• IRR: -21.0%
• Equity multiple: 0.06×
• Total profit: $-70,797
• Equity at exit: $23,195

Cash invested: $75,116 (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 43228

• Rents YoY: -0.6%
• Active inventory: 192

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$1,407
• Tax est. 1.5%: −$335 /mo · $4,024/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-5

Break-even live

Break-even rent $2,347

Max offer price $267,610

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,342
Total (2 units)			$2,341

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: $67,068
• Closing costs: $8,048
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1369 Greenock Rd Columbus, OH	4.0	2.5	1680	$2,031	$1.21	23d	1	0.37mi
3735 Gairlock Dr Columbus, OH	3.0	2.0	1329	$1,905	$1.43	23d	1	0.49mi
1241 Riegelwood Ln Columbus, OH	4.0	3.0	1868	$2,480	$1.33	2d	1	0.52mi
1433 Tall Meadows Dr Columbus, OH	3.0	1.5	1428	$1,995	$1.40	12d	1	0.76mi
1634 Golden Cloud Ln Columbus, OH	3.0	2.0	2015	$2,101	$1.04	44d	1	0.76mi
1602 Covina Dr Columbus, OH	4.0	2.5	1808	$2,450	$1.36	10d	1	1.21mi
1983 Lake Crest Dr Grove City, OH	3.0	2.0	1437	$2,025	$1.41	3d	1	1.25mi
4510 Switchback Trl Columbus, OH	3.0	2.0	1244	$2,170	$1.74	4d	1	1.25mi
2060 Pentress Dr Grove City, OH	3.0	2.5	1818	$2,550	$1.40	12d	1	1.36mi
3963 Genteel Dr Grove City, OH	4.0	2.5	2034	$2,540	$1.25	2d	1	1.48mi
4573 Westport Rd Unit 4507-303 Columbus, OH	4.0	2.0	1558	$1,897	$1.22	44d	1	1.49mi

Listing history 9 events

1. 2026-05-05
   status Pending
2. 2026-04-24
   historical
3. 2026-04-24
   listed $1 Active
4. 2015-01-22
   historical
5. 2013-06-19
   historical
6. 2013-06-19
   listed $72,000
7. 2012-04-14
   listed $77,800
8. 2009-12-28
   historical
9. 2009-04-01
   listed $99,000

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

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 ≥102°F today · 18 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: $28,092
• − Mortgage interest: −$15,027
• − Property taxes: −$4,024
• − Insurance: −$1,341
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$7,804
• Taxable loss: −$4,600
• Est. tax savings @ 24.0%: +$1,104
• After-tax cash flow: $1,049/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: South-Western City
• NCES district ID: 3904480
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 48% ▼ -10.00%
• Median HH income: $51,689
• Composite: 37.95/100
• National rank: #4305
• State rank: #500 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): 59,077
• Household income: $61,713
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 3284.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Black 23% Hispanic / Latino 14% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 12% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -245.97%
• Current HPI: 234.1992
• Rent YoY: ▼ -0.63%
• 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

-27.3% since first listed

9 events — show timeline

• 2026-05-05 Pending — CBRMLS
• 2026-04-24 Listed $1 CBRMLS
• 2026-04-24 Listing Removed — CBRMLS
• 2015-01-22 Listing Removed — CBRMLS
• 2013-06-19 Listed $72,000 CBRMLS
• 2013-06-19 Listing Removed — CBRMLS
• 2012-04-14 Listed $77,800 CBRMLS
• 2009-12-28 Listing Removed — CBRMLS
• 2009-04-01 Listed $99,000 CBRMLS

Property tax history

+3.3%/yr

Latest (2024): $2,918 · -9.7% YoY. Source: county tax records.