2040 Bairsford Dr · Columbus, OH 43232

$239,900

4 bd · None ba · 2,048 sqft · MultiFamily · 154 Days on market

Built 1971 Fair condition 10,018 sqft lot $117/sqft · 28% below area Est $333k · 28% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 0.23 acre lot
• Built 1971
• Listed 154 days

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $240k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.9% 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); Columbus Alternative High School (math 27% / reading 74%, grade D+, #380 of 781 statewide, top 49%, 758 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.
• Zoned-school proficiency averages 41% at this address vs 20% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.4%/yr); 198 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,735/mo this rent would consume 64% of the median local household income ($51k/yr) — 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 154 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.

Recommended offer $211,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.14% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $333,000
• List price: $239,900
• Delta: -27.96%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5277 E Livingston Ave	0.64mi	4/2.0	1,943 (-5%)	0mo	$240,000	$124	62
1344 Yorktown Rd	0.99mi	3/2.5 (-1)	2,058 (+0%)	1mo	$320,000	$155	58
1420 Noe Bixby Rd	0.90mi	3/2.5 (-1)	2,098 (+2%)	1mo	$307,500	$147	55
5954 Hollett Dr N	1.44mi	4/2.5	2,250 (+10%)	2mo	$356,900	$159	47
5083 Jameson Dr	0.78mi	3/1.0 (-1)	1,850 (-10%)	2mo	$195,000	$105	43
5346 Carbondale Dr	0.71mi	4/1.5	1,586 (-23%)	0mo	$235,000	$148	41
4649 Dundee Ave	1.34mi	4/2.0	1,542 (-25%)	1mo	$200,000	$130	39
5220 Refugee Rd	1.06mi	4/2.0	1,650 (-19%)	1mo	$223,000	$135	39
5760 Lucinda Ct	0.74mi	3/2.5 (-1)	1,750 (-15%)	0mo	$185,000	$106	36
5446 Mellowbrook Ct	0.86mi	3/1.5 (-1)	1,630 (-20%)	1mo	$220,000	$135	34
2724 Raphael Dr	0.89mi	3/2.5 (-1)	1,562 (-24%)	1mo	$268,000	$172	34
5045 Brinwood Pl	0.75mi	3/2.0 (-1)	1,618 (-21%)	2mo	$225,000	$139	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 · 2.36% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-8,562
• Equity at exit: $35,770

10-year hold

• IRR: 5.6%
• Equity multiple: 1.40×
• Total profit: $26,854
• Equity at exit: $20,742

Cash invested: $67,172 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43232

• Rents YoY: 2.4%
• Active inventory: 198
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,735 high
• Mortgage (P&I): −$1,258
• Tax est. 1.5%: −$300 /mo · $3,598/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $503

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,736
Total (2 units)			$2,735

Break-even live

Break-even rent $2,099

Max offer price $239,900

Occupancy floor 77%

Sensitivity live

Price	-10% $669	-5% $586	+0% $503	+5% $420	+10% $337
Rent	-10% $287	-5% $395	+0% $503	+5% $611	+10% $719
Rate	-1.0pp $624	-0.5pp $564	base $503	+0.5pp $441	+1.0pp $377

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: $59,975
• Closing costs: $7,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5521 Chatford Sq Columbus, OH	1.0–3.0	1.0–1.5	960	$1,142	$1.19	0d	25	0.10mi
5584 Chatford Dr Unit 5584 Columbus, OH	3.0	2.5	1254	$1,895	$1.51	43d	1	0.14mi
5623-5625 Chatford Dr Unit 5623 Columbus, OH	2.0	1.5	1010	$1,085	$1.07	158d	1	0.21mi
5623-5625 Chatford Dr Columbus, OH	2.0	1.5	1010	$1,085	$1.07	158d	1	0.21mi
5685 Chatford Dr Columbus, OH	1.0	1.0	580	$950	$1.64	10d	4	0.28mi
5700 Chatford Dr Columbus, OH	1.0–4.0	1.0–2.0	929	$1,357	$1.46	2d	20	0.30mi
1811 Stetson Rd Columbus, OH	3.0	1.0	986	$1,695	$1.72	55d	1	0.39mi
1816 Lonsdale Rd Columbus, OH	3.0	1.0	1570	$1,690	$1.08	1d	1	0.40mi
5596 Autumn Chase Dr Columbus, OH	1.0	1.0	250	$1,100	$4.40	10d	1	0.43mi
1843 Fleming Rd Unit 1 Columbus, OH	3.0	1.5	1000	$1,595	$1.59	164d	1	0.45mi
1759 Lonsdale Rd Unit C Columbus, OH	2.0	1.0	5655	$1,100	$0.19	10d	1	0.47mi
1759 Lonsdale Rd Unit B Columbus, OH	2.0	1.0	5655	$1,100	$0.19	155d	1	0.47mi
1759 Lonsdale Rd Unit C Columbus, OH	2.0	1.0	5655	$1,100	$0.19	128d	1	0.47mi
1759 Lonsdale Rd Unit C Columbus, OH	2.0	1.0	5655	$1,100	$0.19	87d	1	0.47mi
5168 Mapleridge Dr Columbus, OH	3.0	1.0	990	$1,695	$1.71	133d	1	0.51mi
1699 Lonsdale Rd Unit 1707 Columbus, OH	2.0	1.0	1038	$995	$0.96	10d	1	0.53mi
5125 Cedar Dr Columbus, OH	1.0	1.0	665	$895	$1.35	0d	2	0.56mi
5953 Rock Glen Ct Unit 5953 Columbus, OH	2.0	1.5	1120	$1,350	$1.21	138d	1	0.59mi
1741 Sunapple Way Columbus, OH	2.0	1.0	864	$1,200	$1.39	0d	1	0.64mi
5475 Red Bird Ct Unit 5479 Columbus, OH	2.0	1.0	650	$995	$1.53	2d	1	0.65mi
1736 Sun Apple Way Unit 1736 Columbus, OH	2.0	1.0	800	$1,100	$1.38	155d	1	0.65mi
1736 Sunapple Way Columbus, OH	2.0	1.0	800	$1,100	$1.38	0d	1	0.65mi
1736 Sunapple Way Columbus, OH	2.0	1.0	800	$1,100	$1.38	87d	1	0.65mi
2680 Silver Oak Dr Columbus, OH	1.0–3.0	1.0–2.0	1077	$1,434	$1.33	2d	24	0.74mi
5240 Carbondale Dr Columbus, OH	3.0	1.5	1239	$2,000	$1.61	184d	1	0.75mi
2048 Pine Needle Ct Columbus, OH	1.0	1.0	432	$1,035	$2.40	10d	4	0.76mi
2038 Noe Bixby Rd Columbus, OH	2.0	1.0	1000	$1,295	$1.29	107d	1	0.82mi
4935-4941 Myers Rd Columbus, OH	1.0	1.0	709	$900	$1.27	2d	1	0.82mi
2670 Glenbriar St Columbus, OH	3.0	1.0	999	$1,550	$1.55	2d	1	0.82mi
4921-4927 Myers Rd Columbus, OH	1.0	1.0	709	$749	$1.06	109d	1	0.83mi
4921-4927 Myers Rd Columbus, OH	1.0	1.0	709	$749	$1.06	55d	1	0.83mi
4927 Myers Rd Columbus, OH	1.0	1.0	709	$749	$1.06	109d	1	0.83mi
4927 Myers Rd Columbus, OH	1.0	1.0	709	$745	$1.05	55d	1	0.83mi
4927 Myers Rd Columbus, OH	1.0	1.0	709	$799	$1.13	184d	1	0.83mi
2710 Moundcrest St Columbus, OH	3.0	1.0	1316	$1,681	$1.28	51d	1	0.86mi
2719 Raphael Dr Columbus, OH	3.0	2.5	1562	$1,965	$1.26	0d	1	0.86mi
2718 Raphael Dr Columbus, OH	3.0	2.5	1561	$1,650	$1.06	7d	1	0.86mi
2005 Noe Bixby Rd Columbus, OH	1.0	1.0	609	$840	$1.38	121d	1	0.90mi
2258 Majestic Dr W Columbus, OH	3.0	1.0	1396	$1,885	$1.35	184d	1	0.93mi
1484 McNaughten Rd Columbus, OH	2.0	2.5	1956	$1,790	$0.92	10d	18	0.95mi

Property features AI

Finance

• Other: Property listed as Real Estate Owned (REO)
• Financial info: Two-unit propertyNet operating income reported at $3,279Operating expenses reported at $3,279

Exterior

• Utilities: Public waterPublic sewerNatural gas availableElectricity availableStorm sewer
• Home design: DuplexBuilt in 1971
• Exterior features: Lot in Walnut Hills subdivisionLocated near Livingston Road

Interior

• Heating & cooling: Central AirForced Air
• Interior features: Central air conditioningForced-air heating

Listing history 50 events

1. 2026-11-04
   days on market $239,900 Active 154 DOM
2. 2026-11-02
   days on market $239,900 Active 152 DOM
3. 2026-11-01
   days on market $239,900 Active 151 DOM
4. 2026-10-31
   days on market $239,900 Active 150 DOM
5. 2026-10-30
   days on market $239,900 Active 149 DOM
6. 2026-10-29
   days on market $239,900 Active 148 DOM
7. 2026-10-28
   days on market $239,900 Active 147 DOM
8. 2026-10-27
   days on market $239,900 Active 146 DOM
9. 2026-10-26
   days on market $239,900 Active 145 DOM
10. 2026-10-26
    pricedays on market $239,900 Active 144 DOM
11. 2026-10-24
    days on market $245,000 Active 143 DOM
12. 2026-10-23
    days on market $245,000 Active 142 DOM
13. 2026-10-22
    days on market $245,000 Active 141 DOM
14. 2026-10-21
    days on market $245,000 Active 140 DOM
15. 2026-10-20
    days on market $245,000 Active 139 DOM
16. 2026-10-19
    days on market $245,000 Active 138 DOM
17. 2026-10-18
    days on market $245,000 Active 137 DOM
18. 2026-10-17
    days on market $245,000 Active 136 DOM
19. 2026-10-16
    days on market $245,000 Active 135 DOM
20. 2026-10-15
    days on market $245,000 Active 134 DOM
21. 2026-10-14
    days on market $245,000 Active 133 DOM
22. 2026-10-13
    days on market $245,000 Active 132 DOM
23. 2026-10-12
    days on market $245,000 Active 131 DOM
24. 2026-10-11
    days on market $245,000 Active 130 DOM
25. 2026-10-10
    days on market $245,000 Active 129 DOM
26. 2026-10-09
    days on market $245,000 Active 128 DOM
27. 2026-10-08
    days on market $245,000 Active 127 DOM
28. 2026-10-07
    days on market $245,000 Active 126 DOM
29. 2026-10-06
    days on market $245,000 Active 125 DOM
30. 2026-10-05
    days on market $245,000 Active 124 DOM
31. 2026-10-04
    days on market $245,000 Active 123 DOM
32. 2026-10-03
    days on market $245,000 Active 122 DOM
33. 2026-10-02
    days on market $245,000 Active 121 DOM
34. 2026-10-01
    days on market $245,000 Active 120 DOM
35. 2026-09-30
    days on market $245,000 Active 119 DOM
36. 2026-09-29
    days on market $245,000 Active 118 DOM
37. 2026-09-28
    days on market $245,000 Active 117 DOM
38. 2026-09-27
    days on market $245,000 Active 116 DOM
39. 2026-09-25
    days on market $245,000 Active 114 DOM
40. 2026-09-24
    days on market $245,000 Active 113 DOM
41. 2026-09-23
    days on market $245,000 Active 112 DOM
42. 2026-09-22
    days on market $245,000 Active 111 DOM
43. 2026-09-21
    days on market $245,000 Active 110 DOM
44. 2026-09-20
    days on market $245,000 Active 109 DOM
45. 2026-09-19
    days on market $245,000 Active 108 DOM
46. 2026-09-18
    days on market $245,000 Active 107 DOM
47. 2026-09-17
    days on market $245,000 Active 106 DOM
48. 2026-09-16
    days on market $245,000 Active 105 DOM
49. 2026-09-15
    days on market $245,000 Active 104 DOM
50. 2026-09-14
    days on market $245,000 Active 103 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $32,820
• − Mortgage interest: −$13,438
• − Property taxes: −$3,598
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,626
• − Management: −$2,626
• − Depreciation: −$6,979
• Taxable income: $2,354
• Est. tax owed @ 24.0%: −$565
• After-tax cash flow: $5,468/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $51,200–$92,160 screening

This multi-family property requires significant repairs and maintenance, including a new roof, exterior siding, and HVAC system, as well as landscaping improvements. These updates will significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage and potential water damage.
• Major exterior siding — The siding is visibly worn and in need of replacement or repainting.
• Major flooring — The flooring appears old and may need replacement for durability and appearance.
• Major interior walls/paint — The walls and paint show significant wear and discoloration, indicating a need for repainting.
• Major HVAC/mechanicals — The units appear old and may need replacement or repair for optimal performance.
• Major landscaping — The landscaping is overgrown and requires trimming and maintenance to improve curb appeal and property value.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and reduce the risk of water damage. ↑
• Resale exterior siding replacement — New siding will enhance the home's curb appeal and increase its resale value. ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Both landscaping and curb appeal improvements — A well-maintained and aesthetically pleasing landscape will enhance the home's curb appeal and attract potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 16/100

Zoned Schools

Elementary Oakmont Elementary School F OH #1,193/1,584 Nat'l #28,475/41,679 Middle Yorktown Middle School F OH #636/654 Nat'l #12,864/14,009 High Independence High School F OH #761/781 Nat'l #16,721/17,239

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

A Composite livability gradescore 81/100

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 · 1,456,139 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 47,364
• Household income: $51,417
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 58% White 26% Hispanic / Latino 8% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Languages at home: 86% English-only · Spanish 6% French/Haitian/Cajun 1%

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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: ▼ -203.49%
• Current HPI: 249.3708
• Rent YoY: ▲ 2.36%
• Metro: Columbus, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

Property features AI

Finance

• Other: Property listed as Real Estate Owned (REO)
• Financial info: Two-unit propertyNet operating income reported at $3,279Operating expenses reported at $3,279

Exterior

• Utilities: Public waterPublic sewerNatural gas availableElectricity availableStorm sewer
• Home design: DuplexBuilt in 1971
• Exterior features: Lot in Walnut Hills subdivisionLocated near Livingston Road

Interior

• Heating & cooling: Central AirForced Air
• Interior features: Central air conditioningForced-air heating

Price history

1 event — show timeline

• 2026-06-03 Listed $245,000 CBRMLS