2871 Annabel Way · Delaware, OH 43015

$674,184

5 bd · 3.5 ba · 3,812 sqft · Land · 150 Days on market

Built 2026 0.35 ac lot $177/sqft · 9% below area Est $743k · 9% under $53/mo HOA · 2% of rent ↓ 1% since listing

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Why this score? — see what drove the F 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).

• ARV discount +11.7/15.0
• Schools +7.6/10.0
• Livability +4.0/5.0
• Cash flow +3.4/30.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come tour the best 5 level split floorplan in Central Ohio. This home features 5 bedrooms, 3 and a half bathrooms, with a 3-car garage. Enjoy the front porch, fireplace, and a customized kitchen. Decorated by a professional interior designer with all of the finishes modern buyers expect at this price point.

Key facts

• Customized kitchen
• Front porch
• Fireplace

Tags

• 5 LEVEL SPLIT FLOORPLAN
• FRONT PORCH
• FIREPLACE
• CUSTOMIZED KITCHEN

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath land listed at $674k.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $306k (54.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (63.1% below list).
• Recommended offer: $249k (63.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#116 in OH, #1,717 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, schools A; Watch: amenities C-, commute F.
• Olentangy Local (rural): math 81% / reading 84% proficiency, ranked #18 of 656 in OH (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.4%/yr); 499 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,233 units permitted in Delaware County in 2024 (304 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Delaware County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($593k) is reasonable based on typical stale-listing flexibility.

Recommended offer $248,602 (63.1% below list)

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. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 63% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.37% ✗
• Cap rate: 2.59%
• Cash-on-cash: -13.23%
• DSCR: 0.41
• GRM: 22.6

CMA / ARV

• ARV (median comp): $743,498
• List price: $674,184
• Delta: -9.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -42.5%
• Equity multiple: -0.30×
• Total profit: $-246,053
• Equity at exit: $100,523

10-year hold

• IRR: -82.1%
• Equity multiple: -1.13×
• Total profit: $-401,817
• Equity at exit: $58,291

Cash invested: $188,772 (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 43015

• Rents YoY: 1.4%
• Active inventory: 499
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $2,486 medium
• Mortgage (P&I): −$3,535
• Tax from tax record: −$176 /mo · $2,113/yr
• Insurance: −$281
• HOA: −$53
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-2,082

Break-even live

Break-even rent $5,121

Max offer price $306,469

Occupancy floor —

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: $168,546
• Closing costs: $20,226
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2886 Berlin Manor Dr Delaware, OH	5.0	3.5	4300	$6,500	$1.51	44d	1	0.33mi
260 Winter Shadow Loop Delaware, OH	4.0	3.5	2900	$3,697	$1.27	44d	1	1.07mi
648 White Fawn Run Delaware, OH	5.0	3.5	3103	$3,350	$1.08	2d	1	1.17mi

HOA detail

• Monthly dues: $53 · $636/yr

Listing history 16 events

1. 2026-06-18
   days on market $674,184 Active 150 DOM
2. 2026-06-17
   days on market $674,184 Active 149 DOM
3. 2026-06-16
   days on market $674,184 Active 148 DOM
4. 2026-06-15
   days on market $674,184 Active 147 DOM
5. 2026-06-13
   days on market $674,184 Active 145 DOM
6. 2026-06-13
   days on market $674,184 Active 144 DOM
7. 2026-06-09
   days on market $674,184 Active 141 DOM
8. 2026-06-08
   days on market $674,184 Active 140 DOM
9. 2026-06-07
   days on market $674,184 Active 139 DOM
10. 2026-06-05
    days on market $674,184 Active 136 DOM
11. 2026-06-03
    days on market $674,184 Active 135 DOM
12. 2026-06-02
    days on market $674,184 Active 134 DOM
13. 2026-06-01
    days on market $674,184 Active 133 DOM
14. 2026-05-31
    days on market $674,184 Active 132 DOM
15. 2026-04-21
    price $678,184 308-char remark

    Show marketing remark (308 chars)

    Come tour the best 5 level split floorplan in Central Ohio. This home features 5 bedrooms, 3 and a half bathrooms, with a 3-car garage. Enjoy the front porch, fireplace, and a customized kitchen. Decorated by a professional interior designer with all of the finishes modern buyers expect at this price point.

16. 2026-01-19
    listed $688,184 Active 308-char remark

    Show marketing remark (308 chars)

    Come tour the best 5 level split floorplan in Central Ohio. This home features 5 bedrooms, 3 and a half bathrooms, with a 3-car garage. Enjoy the front porch, fireplace, and a customized kitchen. Decorated by a professional interior designer with all of the finishes modern buyers expect at this price point.

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $2,113 · $176/mo
• Projected year-2 tax: $6,315 · $526/mo
• Expected delta: +$4,202/yr (+$350/mo · 198.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,832
• − Mortgage interest: −$37,765
• − Property taxes: −$2,113
• − Insurance: −$3,371
• − Repairs & maintenance: −$2,387
• − Management: −$2,387
• − HOA: −$636
• − Depreciation: −$19,613
• Taxable loss: −$38,438
• Est. tax savings @ 24.0%: +$9,225
• After-tax cash flow: $-15,753/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: Olentangy Local
• NCES district ID: 3904676
• Math proficiency: 81% ▼ -8.00%
• Reading proficiency: 84% ▼ -5.00%
• Median HH income: $111,074
• Composite: 75.56/100
• National rank: #132
• State rank: #18 of 656 in OH

Livability — Delaware

• Score: 80/100
• State rank: #116
• US rank: #1717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Delaware County · 203,207 people
• City population: 61,401
• Metro: Columbus, OH
• Population (ZIP): 61,401
• Household income: $105,322
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 965.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 230,854 people
• By 2030: 249,294 · +8.0%
• By 2040: 284,223 · +23.1%
• By 2050: 315,314 · +36.6%
• By 2075: 379,462 · +64.4%
• By 2100: 403,158 · +74.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 5% Black 4%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Delaware

• 2024 margin: Lean R (+6.6) · D 46.2% · R 52.8%
• 2008→2024 swing: +13.0pp toward D · 2008: -19.6pp · 2024: -6.6pp
• All cycles: 2024: R+6.6 2020: R+6.8 2016: R+16.1 2012: R+23.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -398.47%
• Current HPI: 233.0634
• Rent YoY: ▲ 1.42%
• 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

-1.5% since first listed

2 events — show timeline

• 2026-04-21 Price Changed $678,184 CBRMLS
• 2026-01-19 Listed $688,184 CBRMLS

Property tax history

-0.5%/yr

Latest (2025): $2,113 · -8.4% YoY. Source: county tax records.