839 Glendower Ave · Columbus, OH 43207

$120,000

3 bd · 1.0 ba · 1,339 sqft · SingleFamily public records · 72 Days on market

Built 1957 0.37 ac lot $90/sqft · 37% below area Est $190k · 37% under ↓ 4% since listing

---

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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +8.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity with major upside potential! This 3 bedroom, 1 bath home sits on a large . 37 acre lot and boasts over 1,300 square feet, offering plenty of space and versatility for your next project. The property has been partially gutted and is ready for renovation, saving both time and demo costs. Exterior features include a 1-car detached garage, and multiple sheds. This area supports strong rental demand and resale potential. Whether you're planning a flip or a long-term investment property, this home provides a solid structure and a clean slate for your vision. Bring your contractor and explore the possibilities, opportunities like this are increasingly rare. Schedule your showing today!

Key facts

• Multiple sheds
• Strong rental demand
• Large lot

Tags

• LARGE LOT
• DETACHED GARAGE
• MULTIPLE SHEDS
• STRONG RENTAL DEMAND
• RESALE POTENTIAL
• SOLID STRUCTURE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+2.3%/yr); 197 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 + 2.3% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $86k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.31% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.89%
• DSCR: 1.57
• GRM: 6.4

CMA / ARV

• ARV (median comp): $190,150
• List price: $120,000
• Delta: -36.89%
• 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
837 Koebel Ave	0.08mi	3/1.5	1,251 (-7%)	2mo	$160,000	$128	82
782 Stambaugh Ave	0.40mi	3/1.0	1,352 (+1%)	1mo	$157,500	$116	79
679 Stambaugh Ave	0.44mi	3/2.0	1,344 (+0%)	10mo	$199,000	$148	66
1204 Koebel Rd	0.52mi	4/1.0 (+1)	1,288 (-4%)	5mo	$195,000	$151	60
528 Stambaugh Ave	0.62mi	3/2.0	1,344 (+0%)	9mo	$199,000	$148	59
2797 Key Pl	0.73mi	3/2.0	1,349 (+1%)	6mo	$182,000	$135	56
2501 Navarre Rd	0.61mi	3/1.0	1,268 (-5%)	9mo	$198,000	$156	56
574 Koebel Ave	0.40mi	3/2.0	1,491 (+11%)	5mo	$230,000	$154	54
535 Stambaugh Ave	0.58mi	2/1.0 (-1)	1,200 (-10%)	0mo	$57,000	$48	50
600 Koebel Ave	0.37mi	2/1.0 (-1)	1,147 (-14%)	9mo	$125,000	$109	46
2670 Diane Pl	0.72mi	3/2.0	1,485 (+11%)	0mo	$235,000	$158	44
2626 Diane Pl	0.72mi	4/1.5 (+1)	1,485 (+11%)	10mo	$165,000	$111	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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,530
• Equity at exit: $17,892

10-year hold

• IRR: 10.9%
• Equity multiple: 1.82×
• Total profit: $27,707
• Equity at exit: $10,375

Cash invested: $33,600 (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 43207

• Rents YoY: 2.3%
• Active inventory: 197
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,567 high
• Mortgage (P&I): −$629
• Tax from tax record: −$198 /mo · $2,370/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $361

Break-even live

Break-even rent $1,110

Max offer price $120,000

Occupancy floor 72%

Sensitivity live

Price	-10% $429	-5% $395	+0% $361	+5% $327	+10% $293
Rent	-10% $237	-5% $299	+0% $361	+5% $423	+10% $485
Rate	-1.0pp $421	-0.5pp $391	base $361	+0.5pp $330	+1.0pp $298

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
838 Lock Ave Columbus, OH	3.0	1.0	988	$1,578	$1.60	3d	1	0.14mi
2491 Wilson Ave Columbus, OH	3.0	1.0	1200	$1,649	$1.37	44d	1	0.16mi
1285 Evergreen Rd Columbus, OH	3.0	2.0	888	$1,750	$1.97	20d	1	0.76mi
257 Benfield Ave Unit NA Columbus, OH	3.0	1.0	1094	$1,400	$1.28	8d	1	0.82mi
1386 Faber Ave Columbus, OH	3.0	1.0	1250	$1,649	$1.32	8d	1	0.83mi
3047 Baker Hill Rd Columbus, OH	3.0	1.0	896	$1,300	$1.45	44d	1	0.88mi
2866 Hillgate Rd Columbus, OH	3.0	1.0	1040	$1,693	$1.63	24d	1	0.97mi
1843 Parsons Ave Columbus, OH	2.0	1.0	899	$1,331	$1.48	24d	1	1.06mi
3204 T Ave Columbus, OH	2.0	1.0	1168	$1,325	$1.13	24d	1	1.08mi
820 Hilock Rd Columbus, OH	3.0	1.0	1200	$1,640	$1.37	44d	1	1.09mi
55 Fornof Rd Columbus, OH	1.0–4.0	1.0–2.0	924	$1,890	$2.04	2d	1	1.10mi
274 E Barthman Ave Columbus, OH	2.0	1.0	960	$1,500	$1.56	18d	1	1.11mi
1836 Lockbourne Rd Columbus, OH	2.0–3.0	1.0–1.5	997	$1,059	$1.06	4d	4	1.16mi
529 E Morrill Ave Columbus, OH	3.0	1.0	1318	$1,600	$1.21	4d	1	1.20mi
96 Ziegler Ave Columbus, OH	3.0	2.0	1818	$1,899	$1.04	44d	1	1.25mi
362 E Hinman Ave Columbus, OH	2.0	1.0	879	$1,149	$1.31	44d	1	1.26mi
1503 Southfield Dr S Columbus, OH	3.0	1.0	900	$1,395	$1.55	8d	1	1.27mi
1808 S 6th St Unit 1808 Columbus, OH	2.0	1.0	975	$1,050	$1.08	44d	1	1.27mi
367 E Morrill Ave Columbus, OH	2.0	1.0	977	$1,450	$1.48	44d	1	1.29mi
1833 Berkeley Rd Columbus, OH	3.0	1.5	1092	$1,800	$1.65	44d	1	1.30mi
76-78 E Barthman Ave Columbus, OH	3.0	1.0	1206	$1,500	$1.24	24d	1	1.33mi
662 Southwood Ave Columbus, OH	3.0	2.0	1183	$1,950	$1.65	20d	1	1.35mi
206 E Woodrow Ave Columbus, OH	2.0	1.0	999	$1,295	$1.30	44d	1	1.36mi
1584 Southfield Dr S Columbus, OH	3.0	1.0	934	$1,495	$1.60	4d	1	1.41mi
476 Southwood Ave Columbus, OH	2.0	1.0	1219	$1,400	$1.15	44d	1	1.43mi
122 E Woodrow Ave Columbus, OH	2.0	1.0	1200	$1,450	$1.21	15d	1	1.44mi
546 E Jenkins Ave Unit 1 Columbus, OH	2.0	1.0	975	$1,295	$1.33	24d	1	1.45mi
1559 Orson Dr Columbus, OH	4.0	2.0	1374	$2,000	$1.46	3d	1	1.45mi
490-492 E Jenkins Ave Unit 490 Columbus, OH	3.0	1.0	1050	$1,325	$1.26	44d	1	1.48mi
1622 Smith Rd Columbus, OH	2.0	1.0	1045	$1,000	$0.96	4d	1	1.48mi
1622 Smith Rd Columbus, OH	2.0	1.0	1045	$1,000	$0.96	20d	1	1.48mi

Listing history 15 events

1. 2026-06-15
   days on market $120,000 Active 72 DOM
2. 2026-06-13
   days on market $120,000 Active 70 DOM
3. 2026-06-13
   days on market $120,000 Active 69 DOM
4. 2026-06-09
   days on market $120,000 Active 66 DOM
5. 2026-06-08
   days on market $120,000 Active 65 DOM
6. 2026-06-07
   days on market $120,000 Active 64 DOM
7. 2026-06-05
   days on market $120,000 Active 61 DOM
8. 2026-06-03
   days on market $120,000 Active 60 DOM
9. 2026-06-02
   days on market $120,000 Active 59 DOM
10. 2026-06-01
    days on market $120,000 Active 58 DOM
11. 2026-05-31
    days on market $120,000 Active 57 DOM
12. 2026-04-24
    price $120,000 708-char remark

    Show marketing remark (708 chars)

    Investor opportunity with major upside potential! This 3 bedroom, 1 bath home sits on a large . 37 acre lot and boasts over 1,300 square feet, offering plenty of space and versatility for your next project. The property has been partially gutted and is ready for renovation, saving both time and demo costs. Exterior features include a 1-car detached garage, and multiple sheds. This area supports strong rental demand and resale potential. Whether you're planning a flip or a long-term investment property, this home provides a solid structure and a clean slate for your vision. Bring your contractor and explore the possibilities, opportunities like this are increasingly rare. Schedule your showing today!

13. 2026-04-19
    price $123,000 708-char remark

    Show marketing remark (708 chars)

    Investor opportunity with major upside potential! This 3 bedroom, 1 bath home sits on a large . 37 acre lot and boasts over 1,300 square feet, offering plenty of space and versatility for your next project. The property has been partially gutted and is ready for renovation, saving both time and demo costs. Exterior features include a 1-car detached garage, and multiple sheds. This area supports strong rental demand and resale potential. Whether you're planning a flip or a long-term investment property, this home provides a solid structure and a clean slate for your vision. Bring your contractor and explore the possibilities, opportunities like this are increasingly rare. Schedule your showing today!

14. 2026-04-08
    soldstatus $86,000
15. 2026-04-04
    listed $125,000 Active 708-char remark

    Show marketing remark (708 chars)

    Investor opportunity with major upside potential! This 3 bedroom, 1 bath home sits on a large . 37 acre lot and boasts over 1,300 square feet, offering plenty of space and versatility for your next project. The property has been partially gutted and is ready for renovation, saving both time and demo costs. Exterior features include a 1-car detached garage, and multiple sheds. This area supports strong rental demand and resale potential. Whether you're planning a flip or a long-term investment property, this home provides a solid structure and a clean slate for your vision. Bring your contractor and explore the possibilities, opportunities like this are increasingly rare. Schedule your showing today!

ⓘ 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: $2,370 · $198/mo
• Projected year-2 tax: $2,370 · $198/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 6 d/yr ≥100°F today · 16 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,801
• − Mortgage interest: −$6,722
• − Property taxes: −$2,370
• − Insurance: −$600
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$3,491
• Taxable income: $2,610
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $3,705/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): 47,272
• Household income: $63,310
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1679.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -244.33%
• Current HPI: 268.3028
• Rent YoY: ▲ 2.32%
• 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

-4.0% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $120,000 CBRMLS
• 2026-04-19 Price Changed $123,000 CBRMLS
• 2026-04-08 Sold (Public Records) $86,000 Public Records
• 2026-04-04 Listed $125,000 CBRMLS

Property tax history

+12.4%/yr

Latest (2024): $2,370 · +1.6% YoY. Source: county tax records.