1509 Loretta Ave · Columbus, OH 43211

$107,900

5 bd · 1.0 ba · 1,506 sqft · SingleFamily public records · 77 Days on market

Built 1928 5,227 sqft lot $72/sqft · 48% below area Est $206k · 48% 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
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this 5 bedroom/1 bath home in the North Linden area of Columbus. Could be a great flip opportunity or long term rental. Curb offers only. Home is currently occupied, and is being sold As-Is/Where Is with no access to the property. Please do not disturb the occupants. It is a criminal offense to trespass on this property. Buyer agrees to take the property AS-IS including indemnifying the seller related to any occupancy related title exceptions. This property has been placed in an upcoming auction event. See A2A.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $101k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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.
• Columbus City School District (urban): math 15% / reading 26% proficiency, ranked #626 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Linden-Mckinley Stem Academy (math 4% / reading 13%, grade F, #756 of 781 statewide, top 97%, 776 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 166 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $1,878/mo this rent would consume 53% of the median local household income ($43k/yr) (locally 1282% 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 $746 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $30k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $108k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,426 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 1.74% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.76%
• DSCR: 2.10
• GRM: 4.8

CMA / ARV

• ARV (median comp): $205,768
• List price: $107,900
• Delta: -47.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2316 Cleveland Ave	0.16mi	4/1.5 (-1)	1,600 (+6%)	9mo	$177,500	$111	68
1525 Aberdeen Ave	0.43mi	4/1.0 (-1)	1,440 (-4%)	2mo	$135,000	$94	66
1461 Aberdeen Ave	0.46mi	4/1.5 (-1)	1,496 (-1%)	6mo	$160,000	$107	66
1617 Arlington Ave	0.26mi	4/3.0 (-1)	1,528 (+2%)	10mo	$214,000	$140	64
1572 Minnesota Ave	0.39mi	4/2.0 (-1)	1,496 (-1%)	11mo	$195,000	$130	62
1326 E 23rd Ave	0.63mi	5/1.0	1,432 (-5%)	4mo	$140,000	$98	60
1684 E Blake Ave	0.41mi	4/2.0 (-1)	1,622 (+8%)	3mo	$210,000	$129	57
1259 Briarwood Ave	0.41mi	4/2.0 (-1)	1,372 (-9%)	11mo	$232,000	$169	48
2205 Lexington Ave	0.64mi	4/2.0 (-1)	1,403 (-7%)	5mo	$209,000	$149	46
1533 Duxberry Ave	0.43mi	4/2.0 (-1)	1,346 (-11%)	9mo	$205,000	$152	46
1747 E 25th Ave	0.69mi	5/2.0	1,304 (-13%)	2mo	$186,000	$143	40
1391 Minnesota Ave	0.43mi	4/2.0 (-1)	1,280 (-15%)	12mo	$168,000	$131	35

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.76×
• Total profit: $23,093
• Equity at exit: $16,088

10-year hold

• IRR: 27.4%
• Equity multiple: 3.48×
• Total profit: $74,849
• Equity at exit: $9,329

Cash invested: $30,212 (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 43211

• Home prices YoY: -27.3%
• Rents YoY: 3.4%
• Active inventory: 166
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,878 high
• Mortgage (P&I): −$566
• Tax from tax record: −$249 /mo · $2,994/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $623

Break-even live

Break-even rent $1,089

Max offer price $107,900

Occupancy floor 62%

Sensitivity live

Price	-10% $684	-5% $654	+0% $623	+5% $593	+10% $562
Rent	-10% $475	-5% $549	+0% $623	+5% $698	+10% $772
Rate	-1.0pp $678	-0.5pp $651	base $623	+0.5pp $595	+1.0pp $567

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: $26,975
• Closing costs: $3,237
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2176 Ontario St Columbus, OH	4.0	2.0	1066	$1,650	$1.55	25d	1	0.48mi
1695 E Weber Rd Columbus, OH	4.0	2.0	1560	$1,600	$1.03	17d	1	0.57mi
2453 McGuffey Rd Columbus, OH	5.0	3.0	1782	$2,200	$1.23	45d	1	0.62mi
2540 Parkwood Ave Columbus, OH	4.0	1.0	1374	$1,400	$1.02	45d	1	0.84mi
1879 Jermain Dr Columbus, OH	4.0	1.0	1077	$1,800	$1.67	45d	1	1.07mi
2368 Marcia Dr Columbus, OH	5.0	1.5	1595	$2,279	$1.43	16d	1	1.10mi
1084 E 16th Ave Columbus, OH	6.0	1.0	1264	$1,395	$1.10	9d	1	1.13mi
1993 Linton Gardens Dr Columbus, OH	4.0	2.5	1788	$1,895	$1.06	17d	1	1.31mi
3333 Dresden St Columbus, OH	4.0	2.0	1130	$3,150	$2.79	45d	1	1.38mi

Listing history 8 events

1. 2026-05-17
   price $107,900 526-char remark

   Show marketing remark (526 chars)

   Check out this 5 bedroom/1 bath home in the North Linden area of Columbus. Could be a great flip opportunity or long term rental. Curb offers only. Home is currently occupied, and is being sold As-Is/Where Is with no access to the property. Please do not disturb the occupants. It is a criminal offense to trespass on this property. Buyer agrees to take the property AS-IS including indemnifying the seller related to any occupancy related title exceptions. This property has been placed in an upcoming auction event. See A2A.

2. 2026-04-22
   price $113,500 526-char remark

   Show marketing remark (526 chars)

   Check out this 5 bedroom/1 bath home in the North Linden area of Columbus. Could be a great flip opportunity or long term rental. Curb offers only. Home is currently occupied, and is being sold As-Is/Where Is with no access to the property. Please do not disturb the occupants. It is a criminal offense to trespass on this property. Buyer agrees to take the property AS-IS including indemnifying the seller related to any occupancy related title exceptions. This property has been placed in an upcoming auction event. See A2A.

3. 2026-04-02
   price $119,000 526-char remark

   Show marketing remark (526 chars)

   Check out this 5 bedroom/1 bath home in the North Linden area of Columbus. Could be a great flip opportunity or long term rental. Curb offers only. Home is currently occupied, and is being sold As-Is/Where Is with no access to the property. Please do not disturb the occupants. It is a criminal offense to trespass on this property. Buyer agrees to take the property AS-IS including indemnifying the seller related to any occupancy related title exceptions. This property has been placed in an upcoming auction event. See A2A.

4. 2026-03-11
   price $124,000 526-char remark

   Show marketing remark (526 chars)

   Check out this 5 bedroom/1 bath home in the North Linden area of Columbus. Could be a great flip opportunity or long term rental. Curb offers only. Home is currently occupied, and is being sold As-Is/Where Is with no access to the property. Please do not disturb the occupants. It is a criminal offense to trespass on this property. Buyer agrees to take the property AS-IS including indemnifying the seller related to any occupancy related title exceptions. This property has been placed in an upcoming auction event. See A2A.

5. 2026-03-10
   listed $146,000 Active 526-char remark

   Show marketing remark (526 chars)

   Check out this 5 bedroom/1 bath home in the North Linden area of Columbus. Could be a great flip opportunity or long term rental. Curb offers only. Home is currently occupied, and is being sold As-Is/Where Is with no access to the property. Please do not disturb the occupants. It is a criminal offense to trespass on this property. Buyer agrees to take the property AS-IS including indemnifying the seller related to any occupancy related title exceptions. This property has been placed in an upcoming auction event. See A2A.

6. 1990-06-18
   soldstatus $35,650
7. 1988-03-22
   soldstatus $31,500
8. 1984-05-01
   soldstatus $30,900

ⓘ 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: $2,994 · $249/mo
• Projected year-2 tax: $2,994 · $249/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 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,536
• − Mortgage interest: −$6,044
• − Property taxes: −$2,994
• − Insurance: −$540
• − Repairs & maintenance: −$1,803
• − Management: −$1,803
• − Depreciation: −$3,139
• Taxable income: $6,214
• Est. tax owed @ 24.0%: −$1,491
• After-tax cash flow: $5,989/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: Columbus City School District
• NCES district ID: 3904380
• Math proficiency: 15% ▼ -17.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $38,483
• Composite: 17.19/100
• National rank: #9105
• State rank: #626 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): 22,313
• Household income: $42,579
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1282.0

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 0.60)
• Race & ethnicity: Black 58% White 21% Hispanic / Latino 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Italian 1%
• Foreign-born: 10% · Canada, India
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 2% Arabic 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: ▼ -94.10%
• Current HPI: 250.3885
• Rent YoY: ▲ 3.41%
• 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

+249.2% since first listed

8 events — show timeline

• 2026-05-17 Price Changed $107,900 CBRMLS
• 2026-04-22 Price Changed $113,500 CBRMLS
• 2026-04-02 Price Changed $119,000 CBRMLS
• 2026-03-11 Price Changed $124,000 CBRMLS
• 2026-03-10 Listed $146,000 CBRMLS
• 1990-06-18 Sold (Public Records) $35,650 Public Records
• 1988-03-22 Sold (Public Records) $31,500 Public Records
• 1984-05-01 Sold (Public Records) $30,900 Public Records

Property tax history

+10.7%/yr

Latest (2024): $2,994 · +3.8% YoY. Source: county tax records.