128 Columbus Ave · Delaware, OH 43015

$140,000

4 bd · 1.0 ba · 774 sqft · SingleFamily public records · 12 Days on market

Built 1946 6,534 sqft lot Est $201k · 30% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

AUCTION-AUCTION-November 10th @ 5PM. This 3 possibly 4 bedroom home needs care and updates and would make a nice property for a handy person or contractor. Economical living with some improvements, live in it or use as a rental. It was always rented for the long-time owner. Improvements made in the recent past include new hot water tank, sump pump, water & gas lines replaced in basement in 2018. Please see agent to agent.

Key facts

• 6,534 sq ft lot
• Built 1946
• Listed 12 days

Property features AI

Finance

• Other: Standard listing conditions
• Financial info: Annual taxes reported (2025)

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half stories; Built in 1946; No shared/common walls
• Construction: Block and other foundation
• Exterior features: Lot about 0.15 acre

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: 1 full bathroom
• Interior features: Decorative fireplace; Cellar and partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $800 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 13.2% vs local median 2.5% in Delaware — 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 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.
• Delaware City (suburban): math 47% / reading 63% proficiency, ranked #355 of 656 in OH (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 499 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; list at $140k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 13.15%
• Cash-on-cash: 24.50%
• DSCR: 2.09
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $201,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Pleasant Ct	0.59mi	3/1.0 (-1)	864 (+12%)	21mo	$225,000	$260	31

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 · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.64×
• Total profit: $24,906
• Equity at exit: $20,874

10-year hold

• IRR: 23.6%
• Equity multiple: 2.88×
• Total profit: $73,888
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,154 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $800

Break-even live

Break-even rent $1,141

Max offer price $140,000

Occupancy floor 58%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
278 Silver Maple Dr Delaware, OH	1.0–3.0	1.0–1.5	830	$1,650	$1.99	1d	5	1.26mi
437 Sunburst Dr Delaware, OH	2.0–3.0	1.5–2.5	1172	$1,973	$1.68	2d	16	1.27mi

Listing history 10 events

1. 2026-06-03
   days on market $140,000 Active 12 DOM
2. 2026-06-02
   days on market $140,000 Active 11 DOM
3. 2026-06-01
   days on market $140,000 Active 10 DOM
4. 2026-05-31
   pricedays on market $140,000 Active 9 DOM
5. 2026-05-22
   listed $160,000 Active
6. 2026-05-21
   historical $160,000
7. 2021-12-17
   soldstatus $69,000
8. 2021-12-15
   soldstatus $69,000 Closed 433-char remark

   Show marketing remark (433 chars)

   AUCTION-AUCTION-November 10th @ 5PM. This 3 possibly 4 bedroom home needs care and updates and would make a nice property for a handy person or contractor. Economical living with some improvements, live in it or use as a rental. It was always rented for the long-time owner. Improvements made in the recent past include new hot water tank, sump pump, water & gas lines replaced in basement in 2018. Please see agent to agent.

9. 2021-11-12
   status Pending 433-char remark

   Show marketing remark (433 chars)

   AUCTION-AUCTION-November 10th @ 5PM. This 3 possibly 4 bedroom home needs care and updates and would make a nice property for a handy person or contractor. Economical living with some improvements, live in it or use as a rental. It was always rented for the long-time owner. Improvements made in the recent past include new hot water tank, sump pump, water & gas lines replaced in basement in 2018. Please see agent to agent.

10. 2021-10-18
    listed $1 Active 433-char remark

    Show marketing remark (433 chars)

    AUCTION-AUCTION-November 10th @ 5PM. This 3 possibly 4 bedroom home needs care and updates and would make a nice property for a handy person or contractor. Economical living with some improvements, live in it or use as a rental. It was always rented for the long-time owner. Improvements made in the recent past include new hot water tank, sump pump, water & gas lines replaced in basement in 2018. Please see agent to agent.

ⓘ 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: $1,303 · $109/mo
• Projected year-2 tax: $1,744 · $145/mo
• Expected delta: +$440/yr (+$37/mo · 33.8%)

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $25,844
• − Mortgage interest: −$7,842
• − Property taxes: −$1,303
• − Insurance: −$700
• − Repairs & maintenance: −$2,068
• − Management: −$2,068
• − Depreciation: −$4,073
• Taxable income: $7,791
• Est. tax owed @ 24.0%: −$1,870
• After-tax cash flow: $7,734/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: Delaware City
• NCES district ID: 3904387
• Math proficiency: 47% ▼ -24.00%
• Reading proficiency: 63% ▼ -7.00%
• Median HH income: $55,434
• Composite: 47.39/100
• National rank: #2288
• State rank: #355 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

• Census place: Delaware, OH
• 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

+131.9% since first listed

6 events — show timeline

• 2026-05-22 Listed $160,000 CBRMLS
• 2026-05-21 Coming Soon $160,000 CBRMLS
• 2021-12-17 Sold (Public Records) $69,000 Public Records
• 2021-12-15 Sold (MLS) $69,000 CBRMLS
• 2021-11-12 Pending — CBRMLS
• 2021-10-18 Listed $1 CBRMLS

Property tax history

+4.9%/yr

Latest (2025): $1,303 · +5.1% YoY. Source: county tax records.