910 Annagladys Dr Unit G2

Columbus, OH 43085

$170,000F

2 bd · 1.0 ba · 816 sqft · Built 1985 · Condo · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,507/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$342
• HOA: −$296
• Vac / Maint / Mgmt: −$317
• Net cashflow: $-338/mo
• Annual: $-4,058/yr
• Cap rate: 3.91%
• Cash-on-cash: -8.53%
• DSCR: 0.62
• 1% rule: 0.89%
• Cash to close: $47,600

Investor read

• This is a 2-bed/1.0-bath condo listed at $170k.
• At list price, monthly cash flow is $-338 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (35.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (11.3% below list).
• It's been on market 108 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (35.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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.
• Worthington City (suburban): math 65% / reading 71% proficiency, ranked #144 of 656 in OH (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.4%/yr); 69 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $170k implies a 77% gain — meaningful room to come down on a strong offer.
• This rent is only 16% of the median local income ($113k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?