439 Linwood Ave · Columbus, OH 43205

$575,000

8 bd · 0.0 ba · 6,164 sqft · MultiFamily public records · 13 Days on market

Built 1900 3,049 sqft lot Est $758k · 24% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.6/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Online Sale by Court Appointed Receiver. According to public record this 4 family home that is 50% occupied. The tenants pay $475 & $500/month. Sold 100% AS-IS with all faults. Receiver may, in its sole discretion, accept or reject any bid or offer for any reason, at any time, without notice. No reps and no warranties. Bidding ends 02/06/19 @4PM. 10% Buyer Premium is added to the high bid. Information provided is not verified or guaranteed. There will be NO individual showings. Please attend one of the following open houses 1/22/19 3-4PM & 1/29/19 11-12PM.

Key facts

• 3,049 sq ft lot
• Built 1900
• Listed 13 days

Property features AI

Finance

• Other: Annual tax (2024): $5,697
• Financial info: 4 total units; Net operating income: $2,160; Operating expenses: $29,040

Exterior

• Utilities: Public water; Public sewer
• Home design: Mixed use property; Built in 1900
• Exterior features: Zoned R-3

Interior

• Heating & cooling: Central cooling; Forced air heating
• Interior features: Has central cooling; Forced air heating

🏷️ Possibly a rental listed for sale. The $575,000 price doesn't fit this home's estimated sale value (~$758,172) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $382/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $575k).
• Cap rate 9.5% 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.
• Market conditions: Rents rising (+1.4%/yr); 142 active listings in the ZIP; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $6,655/mo this rent would consume 133% of the median local household income ($60k/yr) (locally 823% 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 $4k of loan paydown is wiped out by about $17k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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.
• Current owner paid $243k; list at $575k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $575,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $758,172
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
376 Linwood Ave	0.10mi	8/6.0	5,674 (-8%)	23mo	$700,000	$123	43

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 · 1.43% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-6,274
• Equity at exit: $85,734

10-year hold

• IRR: 7.0%
• Equity multiple: 1.49×
• Total profit: $78,472
• Equity at exit: $49,715

Cash invested: $161,000 (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 43205

• Rents YoY: 1.4%
• Active inventory: 142
• Price-to-rent: 28.8×

Monthly cashflow live

• Estimated rent: $6,655 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$475 /mo · $5,697/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,398
• Net cashflow: $1,528

Break-even live

Break-even rent $4,721

Max offer price $575,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$6,656
Total (4 units)			$6,655

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $575,000 Active 13 DOM
2. 2026-06-17
   days on market $575,000 Active 12 DOM
3. 2026-06-16
   days on market $575,000 Active 11 DOM
4. 2026-06-15
   days on market $575,000 Active 10 DOM
5. 2026-06-13
   days on market $575,000 Active 8 DOM
6. 2026-06-13
   days on market $575,000 Active 7 DOM
7. 2026-06-09
   days on market $575,000 Active 4 DOM
8. 2026-06-08
   days on market $575,000 Active 3 DOM
9. 2026-06-07
   remarks 314-char remark
10. 2026-06-07
    listed $575,000 Active 2 DOM

ⓘ 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: $5,697 · $475/mo
• Projected year-2 tax: $7,334 · $611/mo
• Expected delta: +$1,636/yr (+$136/mo · 28.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $79,860
• − Mortgage interest: −$32,209
• − Property taxes: −$5,697
• − Insurance: −$2,875
• − Repairs & maintenance: −$6,389
• − Management: −$6,389
• − Depreciation: −$16,727
• Taxable income: $9,574
• Est. tax owed @ 24.0%: −$2,298
• After-tax cash flow: $16,035/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): 12,618
• Household income: $60,181
• Rent vs Own: 62.7% rent · 37.3% own
• Severe rent burden: 823.0

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 47% White 42% Two or more races 7% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 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: ▼ -282.36%
• Current HPI: 212.5692
• Rent YoY: ▲ 1.43%
• 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

+812.7% since first listed

13 events — show timeline

• 2026-06-05 Listed $575,000 CBRMLS
• 2019-05-22 Sold (Public Records) $243,300 Public Records
• 2019-05-17 Sold (MLS) $243,210 CBRMLS
• 2019-02-07 Pending — CBRMLS
• 2019-01-18 Listed $105,000 CBRMLS
• 2015-09-02 Sold (Public Records) $843,000 Public Records
• 2013-04-24 Sold (Public Records) $260,000 Public Records
• 2013-04-23 Sold (MLS) $260,000 CBRMLS
• 2013-03-13 Listing Removed — CBRMLS
• 2012-02-02 Listed $284,780 CBRMLS
• 1994-11-10 Sold (Public Records) $48,000 Public Records
• 1988-08-23 Sold (Public Records) $47,338 Public Records
• 1984-11-01 Sold (Public Records) $63,000 Public Records

Property tax history

+6.3%/yr

Latest (2024): $5,697 · -1.6% YoY. Source: county tax records.