2405 S 6th St · Columbus, OH 43207

$40,000

2 bd · 1.0 ba · 958 sqft · SingleFamily public records · 25 Days on market

Built 1900 2,613 sqft lot $42/sqft · 75% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Attention investors and Do-It-Yourself buyers! This white canvas property is ready for a new transformation. Remodel this property for a profit or fix this home to be a rental unit or your dream home. Property is being sold strictly as-is, where-is. Seller will not do any repairs. Property can be purchase together with 2407 S 6th Street, Columbus, OH 43207

Key facts

• 2,613 sq ft lot
• 2 parking spots
• Built 1900

Property features AI

Exterior

• Parking: On-street parking; 2-space carport
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two stories; Built in 1900; No shared/common walls
• Construction: Poured foundation
• Exterior features: Other exterior features; Shed(s) and outbuilding on site

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.8% 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); 196 active listings in the ZIP; 19 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 31y ago; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 3.31% ✓
• Cap rate: 27.83%
• Cash-on-cash: 76.93%
• DSCR: 4.42
• GRM: 2.5

CMA / ARV

• ARV (median comp): $161,115
• List price: $40,000
• Delta: -75.17%
• 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
168 Benfield Ave	0.06mi	3/1.0 (+1)	960 (+0%)	8mo	$60,000	$63	85
2501 S 6th St	0.10mi	3/1.0 (+1)	864 (-10%)	2mo	$170,559	$197	72
164 E Alcott Rd	0.45mi	3/1.0 (+1)	924 (-4%)	7mo	$161,500	$175	62
228 Ziegler Ave	0.68mi	3/1.0 (+1)	948 (-1%)	1mo	$225,000	$237	61
82 Delray Rd	0.21mi	2/2.0	840 (-12%)	6mo	$135,000	$161	61
229 Southard Dr	0.27mi	2/1.0	833 (-13%)	7mo	$129,000	$155	60
2676 Shelly Dr	0.66mi	3/1.0 (+1)	925 (-3%)	1mo	$111,980	$121	58
2750 Gibson Dr	0.68mi	3/1.0 (+1)	925 (-3%)	0mo	$145,000	$157	57
2893 Parsons Ave	0.68mi	3/1.0 (+1)	924 (-4%)	0mo	$170,000	$184	57
2808 Dolby Dr	0.71mi	3/1.0 (+1)	925 (-3%)	4mo	$215,000	$232	53
2901 Parsons Ave	0.69mi	3/1.0 (+1)	924 (-4%)	6mo	$167,000	$181	52
145 Ziegler Ave	0.70mi	3/1.0 (+1)	1,053 (+10%)	7mo	$205,000	$195	40

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: 76.1%
• Equity multiple: 4.43×
• Total profit: $38,401
• Equity at exit: $5,964

10-year hold

• IRR: 79.6%
• Equity multiple: 8.94×
• Total profit: $88,894
• Equity at exit: $3,458

Cash invested: $11,200 (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: 196
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,322 high
• Mortgage (P&I): −$210
• Tax from tax record: −$100 /mo · $1,203/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $718

Break-even live

Break-even rent $414

Max offer price $40,000

Occupancy floor 41%

Sensitivity live

Price	-10% $741	-5% $729	+0% $718	+5% $707	+10% $695
Rent	-10% $614	-5% $666	+0% $718	+5% $770	+10% $822
Rate	-1.0pp $738	-0.5pp $728	base $718	+0.5pp $708	+1.0pp $697

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
257 Benfield Ave Unit NA Columbus, OH	3.0	1.0	1094	$1,400	$1.28	8d	1	0.14mi
54-56 Benfield Ave Unit 56 Columbus, OH	2.0	1.0	800	$925	$1.16	24d	1	0.21mi
55 Fornof Rd Columbus, OH	1.0–4.0	1.0–2.0	924	$1,620	$1.75	2d	1	0.21mi
2866 Hillgate Rd Columbus, OH	3.0	1.0	1040	$1,693	$1.63	24d	1	0.65mi
274 E Barthman Ave Columbus, OH	2.0	1.0	960	$1,500	$1.56	18d	1	0.77mi
3011 Markham Rd Unit 3011A Columbus, OH	2.0	1.0	750	$899	$1.20	24d	1	0.86mi
1808 S 6th St Unit 1808 Columbus, OH	2.0	1.0	975	$1,050	$1.08	44d	1	0.87mi
1843 Parsons Ave Columbus, OH	2.0	1.0	899	$1,331	$1.48	24d	1	0.90mi
838 Lock Ave Columbus, OH	3.0	1.0	988	$1,578	$1.60	2d	1	0.93mi
2997 S High St Columbus, OH	1.0–4.0	1.0–2.0	1151	$1,319	$1.15	2d	27	0.95mi
206 E Woodrow Ave Columbus, OH	2.0	1.0	999	$1,295	$1.30	44d	1	1.01mi
362 E Hinman Ave Columbus, OH	2.0	1.0	879	$1,149	$1.31	44d	1	1.08mi
367 E Morrill Ave Columbus, OH	2.0	1.0	977	$1,450	$1.48	44d	1	1.12mi
1598-1600 S 4th St Columbus, OH	2.0	1.0	855	$1,250	$1.46	44d	1	1.15mi
33 W Morrill Ave Columbus, OH	1.0–3.0	1.0–2.0	935	$1,134	$1.21	8d	4	1.21mi
22 E Welch Ave Apt 4 Columbus, OH	1.0	1.0	537	$923	$1.72	4d	1	1.26mi
27 W Jenkins Ave Columbus, OH	2.0–3.0	1.0–1.5	1013	$1,137	$1.12	8d	4	1.44mi
490-492 E Jenkins Ave Unit 490 Columbus, OH	3.0	1.0	1050	$1,325	$1.26	44d	1	1.44mi
546 E Jenkins Ave Unit 1 Columbus, OH	2.0	1.0	975	$1,295	$1.33	24d	1	1.46mi

Listing history 39 events

1. 2026-06-18
   days on market $40,000 Active 25 DOM
2. 2026-06-17
   days on market $40,000 Active 24 DOM
3. 2026-06-16
   days on market $40,000 Active 23 DOM
4. 2026-06-15
   days on market $40,000 Active 22 DOM
5. 2026-06-13
   remarks 370-char remark
6. 2026-06-13
   pricedays on market $40,000 Active 20 DOM
7. 2026-06-13
   days on market $50,000 Active 19 DOM
8. 2026-06-09
   days on market $50,000 Active 16 DOM
9. 2026-06-08
   days on market $50,000 Active 15 DOM
10. 2026-06-07
    days on market $50,000 Active 14 DOM
11. 2026-06-05
    days on market $50,000 Active 11 DOM
12. 2026-06-03
    days on market $50,000 Active 10 DOM
13. 2026-06-02
    days on market $50,000 Active 9 DOM
14. 2026-06-01
    days on market $50,000 Active 8 DOM
15. 2026-05-31
    days on market $50,000 Active 7 DOM
16. 2026-05-11
    status Pending 269-char remark
17. 2026-05-07
    listed $50,000 Active 269-char remark
18. 2024-03-21
    soldstatus $105,000
19. 2024-03-14
    soldstatus $31,500 Closed 358-char remark

    Show marketing remark (358 chars)

    Attention investors and Do-It-Yourself buyers! This white canvas property is ready for a new transformation. Remodel this property for a profit or fix this home to be a rental unit or your dream home. Property is being sold strictly as-is, where-is. Seller will not do any repairs. Property can be purchase together with 2407 S 6th Street, Columbus, OH 43207

20. 2024-02-26
    status Pending 358-char remark

    Show marketing remark (358 chars)

    Attention investors and Do-It-Yourself buyers! This white canvas property is ready for a new transformation. Remodel this property for a profit or fix this home to be a rental unit or your dream home. Property is being sold strictly as-is, where-is. Seller will not do any repairs. Property can be purchase together with 2407 S 6th Street, Columbus, OH 43207

21. 2024-02-07
    listed $65,000 Active 358-char remark

    Show marketing remark (358 chars)

    Attention investors and Do-It-Yourself buyers! This white canvas property is ready for a new transformation. Remodel this property for a profit or fix this home to be a rental unit or your dream home. Property is being sold strictly as-is, where-is. Seller will not do any repairs. Property can be purchase together with 2407 S 6th Street, Columbus, OH 43207

22. 2021-04-02
    soldstatus $39,500
23. 2016-04-01
    historical
24. 2016-01-04
    price $15,000
25. 2015-12-13
    listed $20,000 Active
26. 2015-05-05
    soldstatus $13,000
27. 2015-04-30
    soldstatus $6,500
28. 2015-04-08
    historical
29. 2015-03-24
    listed $7,900
30. 2010-08-27
    soldstatus $9,000
31. 2010-08-17
    historical
32. 2010-08-11
    listed $12,900
33. 2009-10-30
    historical
34. 2009-08-31
    listed $45,000
35. 2003-02-28
    soldstatus $27,500
36. 2002-12-27
    historical
37. 2002-09-23
    listed $37,900
38. 1995-11-30
    historical
39. 1995-10-02
    listed $14,000

ⓘ 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: $1,203 · $100/mo
• Projected year-2 tax: $1,203 · $100/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 4/10 Moderate 7 d/yr ≥100°F today · 18 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: $15,869
• − Mortgage interest: −$2,241
• − Property taxes: −$1,203
• − Insurance: −$200
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$1,164
• Taxable income: $8,523
• Est. tax owed @ 24.0%: −$2,045
• After-tax cash flow: $6,571/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

+185.7% since first listed

26 events — show timeline

• 2026-06-13 Price Changed $40,000 CBRMLS
• 2026-05-28 Relisted — CBRMLS
• 2026-05-11 Pending — CBRMLS
• 2026-05-07 Listed $50,000 CBRMLS
• 2024-03-21 Sold (Public Records) $105,000 Public Records
• 2024-03-14 Sold (MLS) $31,500 CBRMLS
• 2024-02-26 Pending — CBRMLS
• 2024-02-07 Listed $65,000 CBRMLS
• 2021-04-02 Sold (Public Records) $39,500 Public Records
• 2016-04-01 Listing Removed — CBRMLS
• 2016-01-04 Price Changed $15,000 CBRMLS
• 2015-12-13 Listed $20,000 CBRMLS
• 2015-05-05 Sold (Public Records) $13,000 Public Records
• 2015-04-30 Sold (MLS) $6,500 CBRMLS
• 2015-04-08 Listing Removed — CBRMLS
• 2015-03-24 Listed $7,900 CBRMLS
• 2010-08-27 Sold (MLS) $9,000 CBRMLS
• 2010-08-17 Listing Removed — CBRMLS
• 2010-08-11 Listed $12,900 CBRMLS
• 2009-10-30 Listing Removed — CBRMLS
• 2009-08-31 Listed $45,000 CBRMLS
• 2003-02-28 Sold (MLS) $27,500 CBRMLS
• 2002-12-27 Listing Removed — CBRMLS
• 2002-09-23 Listed $37,900 CBRMLS
• 1995-11-30 Listing Removed — CBRMLS
• 1995-10-02 Listed $14,000 CBRMLS

Property tax history

-2.4%/yr

Latest (2024): $1,203 · -20.6% YoY. Source: county tax records.