2040 Bairsford Dr · Columbus, OH 43232

$245,000

4 bd · None ba · 2,048 sqft · MultiFamily · 15 Days on market

Built 1971 Fair condition 10,018 sqft lot Est $313k · 22% under

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Why this score? — see what drove the C+ 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0
• 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 15 days

Property features AI

Finance

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

Exterior

• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Storm sewer
• Home design: Duplex; Built in 1971
• Exterior features: Lot in Walnut Hills subdivision; Located near Livingston Road

Interior

• Heating & cooling: Central Air; Forced Air
• Interior features: Central air conditioning; Forced-air heating

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $245k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $241k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+2.4%/yr); 89 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,712/mo this rent would consume 63% of the median local household income ($51k/yr) (locally 2584% 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 $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 15 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,325 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $313,344
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1950-1952 Bairsford Dr	0.12mi	4/—	2,034 (-1%)	12mo	$310,500	$153	83
1942 Bairsford Dr	0.13mi	5/— (+1)	2,180 (+6%)	8mo	$335,000	$154	72
5943 Rock Glen Ct	0.57mi	4/—	2,148 (+5%)	15mo	$318,000	$148	53

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-12,776
• Equity at exit: $36,530

10-year hold

• IRR: 3.9%
• Equity multiple: 1.27×
• Total profit: $18,862
• Equity at exit: $21,183

Cash invested: $68,600 (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 43232

• Rents YoY: 2.4%
• Active inventory: 89
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $2,712 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $449

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,712
Total (2 units)			$2,712

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1889 Birkdale Dr Columbus, OH	4.0	2.5	2114	$2,145	$1.01	19d	1	0.38mi
2705 Denmark Rd Columbus, OH	4.0	2.0	1504	$2,199	$1.46	23d	1	0.92mi
4902 Dickens Dr Columbus, OH	5.0	2.5	2034	$2,620	$1.29	7d	1	1.16mi
6560 Benjamin Dr Reynoldsburg, OH	3.0	1.5	1434	$1,895	$1.32	43d	1	1.35mi
4728 E Livingston Ave Columbus, OH	4.0	2.0	1638	$1,935	$1.18	43d	1	1.37mi
1310 Easthill Dr Columbus, OH	3.0	2.0	1690	$2,092	$1.24	1d	7	1.43mi

Listing history 10 events

1. 2026-06-18
   days on market $245,000 Active 15 DOM
2. 2026-06-17
   days on market $245,000 Active 14 DOM
3. 2026-06-16
   days on market $245,000 Active 13 DOM
4. 2026-06-15
   days on market $245,000 Active 12 DOM
5. 2026-06-13
   days on market $245,000 Active 10 DOM
6. 2026-06-13
   days on market $245,000 Active 9 DOM
7. 2026-06-09
   days on market $245,000 Active 6 DOM
8. 2026-06-08
   days on market $245,000 Active 5 DOM
9. 2026-06-07
   days on market $245,000 Active 4 DOM
10. 2026-06-05
    listed $245,000 Active 1 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 6/10 Major FEMA zone X (unshaded) · 68% 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: $32,544
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − Depreciation: −$7,127
• Taxable income: $1,586
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $5,011/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

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.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and discoloration suggest significant damage and potential water damage.	Major	$15,000–50,000
exterior siding · The siding is visibly worn and in need of replacement or repainting.	Major	$15,000–50,000
flooring · The flooring appears old and may need replacement for durability and appearance.	Major	$15,000–50,000
interior walls/paint · The walls and paint show significant wear and discoloration, indicating a need for repainting.	Major	$15,000–50,000
HVAC/mechanicals · The units appear old and may need replacement or repair for optimal performance.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and requires trimming and maintenance to improve curb appeal and property value.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• 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. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 47,364
• Household income: $51,417
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2584.0

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 0.58)
• 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%
• Common ancestry: Swiss 1% Slovak 1% Italian 1%
• Foreign-born: 13% · Canada, China
• Languages at home: 86% English-only · Spanish 6% French/Haitian/Cajun 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: ▼ -203.49%
• Current HPI: 249.3708
• Rent YoY: ▲ 2.36%
• 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

1 event — show timeline

• 2026-06-03 Listed $245,000 CBRMLS