940 Lilley Ave · Columbus, OH 43206

$164,900

3 bd · 2.0 ba · 1,396 sqft · SingleFamily public records · 4 Days on market

Built 1940 5,227 sqft lot Est $232k · 29% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD CASE#413-309558. FHA FINANCING NOT AVAIL. CASH OR CONVENTIONAL ONLY. SOLD AS IS HUD WILL NOT MAKE REPAIRS. BIDDING VIA INTERNET. NO APPT TO SHOW USE HUD MASTER KEY.

Key facts

• 5,227 sq ft lot
• Built 1940
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $26 ($315/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (5.4% below list).
• Recommended offer: $156k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (+3.5%/yr); 198 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 30y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $51k; list at $165k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,977 (5.4% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.95% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $231,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1029 Geers Ave	0.15mi	2/1.0 (-1)	1,412 (+1%)	1mo	$235,000	$166	81
1079 Ellsworth Ave	0.27mi	4/1.0 (+1)	1,336 (-4%)	1mo	$82,500	$62	70
1736 E Frankfort St	0.43mi	3/1.5	1,308 (-6%)	1mo	$160,000	$122	66
1005 Studer Ave	0.39mi	3/2.5	1,544 (+11%)	2mo	$272,900	$177	61
1327 E Fulton St	0.58mi	2/2.5 (-1)	1,368 (-2%)	2mo	$199,000	$145	61
518 Kelton Ave	0.60mi	2/2.5 (-1)	1,368 (-2%)	1mo	$199,000	$145	61
489 Lilley Ave	0.65mi	2/2.5 (-1)	1,368 (-2%)	2mo	$199,000	$145	58
1358 E Fulton St	0.59mi	4/1.0 (+1)	1,320 (-5%)	0mo	$91,000	$69	54
997 Oakwood Ave	0.62mi	3/1.5	1,260 (-10%)	1mo	$242,500	$192	52
1129 Oakwood Ave	0.70mi	3/2.5	1,540 (+10%)	2mo	$327,500	$213	47
795 S Ohio Ave	0.73mi	3/2.5	1,535 (+10%)	2mo	$340,000	$221	46
1329 Studer Ave	0.73mi	3/1.5	1,191 (-15%)	1mo	$212,000	$178	39

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 · 3.51% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-24,180
• Equity at exit: $24,587

10-year hold

• IRR: -4.9%
• Equity multiple: 0.67×
• Total profit: $-15,305
• Equity at exit: $14,258

Cash invested: $46,172 (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 →

ZIP-level market 43206

• Rents YoY: 3.5%
• Active inventory: 198
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,560 high
• Mortgage (P&I): −$865
• Tax from tax record: −$272 /mo · $3,270/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $26

Break-even live

Break-even rent $1,527

Max offer price $164,900

Occupancy floor 93%

Sensitivity live

Price	-10% $120	-5% $73	+0% $26	+5% $-20	+10% $-67
Rent	-10% $-97	-5% $-35	+0% $26	+5% $88	+10% $149
Rate	-1.0pp $109	-0.5pp $68	base $26	+0.5pp $-16	+1.0pp $-60

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 Ellsworth Ave Columbus, OH	3.0	1.0	1154	$1,325	$1.15	4d	1	0.15mi
1026 Ellsworth Ave Columbus, OH	3.0	1.0	1100	$1,295	$1.18	21d	1	0.19mi
800 Kelton Ave Columbus, OH	2.0	1.0	1000	$1,049	$1.05	4d	1	0.23mi
975-977 Miller Ave Unit 977 Columbus, OH	2.0	1.5	930	$1,100	$1.18	44d	1	0.25mi
773-775 Berkeley Rd Columbus, OH	3.0	1.0	1280	$1,350	$1.05	3d	1	0.27mi
773-775 Berkeley Rd Columbus, OH	3.0	1.0	1280	$1,400	$1.09	22d	1	0.27mi
1106 Ellsworth Ave Columbus, OH	3.0	1.0	1150	$1,495	$1.30	8d	1	0.28mi
1275-1279 E Kossuth St Columbus, OH	2.0	2.0	1160	$1,350	$1.16	44d	1	0.29mi
864 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,300	$1.11	44d	1	0.30mi
852-854 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,295	$1.10	24d	1	0.31mi
854 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,295	$1.10	44d	1	0.31mi
852-854 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,295	$1.10	15d	1	0.31mi
1050 Bulen Ave Columbus, OH	3.0	2.0	1104	$1,700	$1.54	18d	1	0.34mi
904 Studer Ave Columbus, OH	3.0	1.5	1364	$1,780	$1.30	24d	1	0.34mi
1267 E Livingston Ave Columbus, OH	2.0	1.0	1000	$925	$0.93	24d	1	0.35mi
1257 E Livingston Ave Columbus, OH	2.0	1.0	975	$925	$0.95	21d	1	0.36mi
824 Studer Ave Columbus, OH	2.0	1.0	980	$925	$0.94	18d	1	0.37mi
1154 Miller Ave Columbus, OH	3.0	1.0	1012	$1,350	$1.33	15d	1	0.37mi
1406 Kent St Columbus, OH	2.0	2.0	974	$1,250	$1.28	44d	1	0.38mi
736 Seymour Ave Columbus, OH	3.0	1.0	1176	$1,350	$1.15	44d	1	0.39mi
1210 E Whittier St Columbus, OH	2.0	1.0	973	$1,950	$2.00	44d	1	0.41mi
932 Linwood Ave Columbus, OH	4.0	1.5	1663	$2,045	$1.23	44d	1	0.41mi
988 Linwood Ave Columbus, OH	4.0	3.0	1800	$2,750	$1.53	18d	1	0.43mi
807 Manning Ave Unit 829 Columbus, OH	2.0	1.0	920	$1,220	$1.33	44d	1	0.46mi
1167 E Whittier St Columbus, OH	3.0	1.5	1300	$1,950	$1.50	44d	1	0.47mi
1165-1167 E Whittier St Columbus, OH	3.0	1.5	1300	$1,950	$1.50	44d	1	0.48mi
614-616 Lilley Ave Columbus, OH	3.0	1.5	1232	$1,700	$1.38	44d	1	0.50mi
1715 E Whittier St Columbus, OH	2.0	1.0	1624	$975	$0.60	24d	1	0.50mi
968 Wilson Ave Unit 970 Columbus, OH	2.0	1.0	900	$1,225	$1.36	24d	1	0.50mi
910 Rhoads Ave Columbus, OH	1.0–3.0	1.0–2.0	941	$1,350	$1.43	3d	30	0.50mi
1272 Kent St Columbus, OH	2.0	1.0	1152	$1,250	$1.09	3d	1	0.52mi
857 Wilson Ave #859 Columbus, OH	3.0	2.5	1527	$1,650	$1.08	44d	1	0.52mi
1272 Kent St Unit 2 Columbus, OH	2.0	1.0	1152	$1,295	$1.12	22d	1	0.52mi
597 Lilley Ave Columbus, OH	2.0	1.5	1300	$1,550	$1.19	44d	1	0.52mi
860 Rhoads Ave Columbus, OH	2.0	1.0	875	$1,075	$1.23	4d	8	0.53mi
1805 Kent St Columbus, OH	4.0	1.5	1399	$1,900	$1.36	24d	1	0.53mi
815 Wilson Ave Columbus, OH	3.0	1.5	1400	$1,500	$1.07	8d	1	0.53mi
813 Wilson Ave Unit 1 Columbus, OH	3.0	1.5	1400	$1,500	$1.07	8d	1	0.53mi
1056 Wilson Ave Unit B Columbus, OH	2.0	1.0	1100	$1,195	$1.09	18d	1	0.55mi
1056 Wilson Ave Unit A Columbus, OH	2.0	1.0	1100	$1,225	$1.11	44d	1	0.55mi

Listing history 19 events

1. 2026-02-04
   status Pending
2. 2026-01-15
   listed $164,900 Active
3. 2023-08-09
   historical
4. 2023-02-14
   listed $219,000 Active
5. 2008-04-04
   soldstatus $51,000 168-char remark

   Show marketing remark (168 chars)

   HUD CASE#413-309558. FHA FINANCING NOT AVAIL. CASH OR CONVENTIONAL ONLY. SOLD AS IS HUD WILL NOT MAKE REPAIRS. BIDDING VIA INTERNET. NO APPT TO SHOW USE HUD MASTER KEY.

6. 2008-02-27
   historical 168-char remark

   Show marketing remark (168 chars)

   HUD CASE#413-309558. FHA FINANCING NOT AVAIL. CASH OR CONVENTIONAL ONLY. SOLD AS IS HUD WILL NOT MAKE REPAIRS. BIDDING VIA INTERNET. NO APPT TO SHOW USE HUD MASTER KEY.

7. 2007-11-16
   listed $55,615 168-char remark

   Show marketing remark (168 chars)

   HUD CASE#413-309558. FHA FINANCING NOT AVAIL. CASH OR CONVENTIONAL ONLY. SOLD AS IS HUD WILL NOT MAKE REPAIRS. BIDDING VIA INTERNET. NO APPT TO SHOW USE HUD MASTER KEY.

8. 2007-03-07
   historical
9. 2006-09-19
   listed $79,900
10. 1997-07-29
    soldstatus $69,000
11. 1997-07-25
    soldstatus $69,000
12. 1997-02-14
    historical
13. 1996-12-19
    listed $69,900
14. 1996-12-13
    historical
15. 1996-08-09
    listed $74,900
16. 1996-06-05
    historical
17. 1996-04-25
    listed $74,900
18. 1993-12-08
    soldstatus $64,900
19. 1986-12-19
    soldstatus $13,500

ⓘ 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: $3,270 · $272/mo
• Projected year-2 tax: $3,270 · $272/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 · 17 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: $18,717
• − Mortgage interest: −$9,237
• − Property taxes: −$3,270
• − Insurance: −$824
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$4,797
• Taxable loss: −$2,406
• Est. tax savings @ 24.0%: +$577
• After-tax cash flow: $893/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): 21,996
• Household income: $75,806
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 846.0

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 0.59)
• Race & ethnicity: White 56% Black 31% Two or more races 9% Hispanic / Latino 4% Asian 1% Native American 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -576.73%
• Current HPI: 173.8569
• Rent YoY: ▲ 3.51%
• 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

+1121.5% since first listed

19 events — show timeline

• 2026-02-04 Pending — CBRMLS
• 2026-01-15 Listed $164,900 CBRMLS
• 2023-08-09 Listing Removed — CBRMLS
• 2023-02-14 Listed $219,000 CBRMLS
• 2008-04-04 Sold (MLS) $51,000 CBRMLS
• 2008-02-27 Listing Removed — CBRMLS
• 2007-11-16 Listed $55,615 CBRMLS
• 2007-03-07 Listing Removed — CBRMLS
• 2006-09-19 Listed $79,900 CBRMLS
• 1997-07-29 Sold (Public Records) $69,000 Public Records
• 1997-07-25 Sold (MLS) $69,000 CBRMLS
• 1997-02-14 Listing Removed — CBRMLS
• 1996-12-19 Listed $69,900 CBRMLS
• 1996-12-13 Listing Removed — CBRMLS
• 1996-08-09 Listed $74,900 CBRMLS
• 1996-06-05 Listing Removed — CBRMLS
• 1996-04-25 Listed $74,900 CBRMLS
• 1993-12-08 Sold (Public Records) $64,900 Public Records
• 1986-12-19 Sold (Public Records) $13,500 Public Records

Property tax history

+16.2%/yr

Latest (2024): $3,270 · +25.3% YoY. Source: county tax records.