2823 Fern Ave · Columbus, OH 43211

$129,900

4 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 48 Days on market

Built 1972 9,147 sqft lot Est $194k · 33% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.9/10.0
• 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

Needs work, but priced accordingly, brick/alum exterior, deep lot, huge basement. All offers MUST be presented with a lender letter or proof of funds, Earnest money is held by listing broker.

Key facts

• Black appliances
• Updated flooring
• Eat-in kitchen

Tags

• UPDATED FLOORING
• EAT-IN KITCHEN
• BLACK APPLIANCES
• WOOD CABINETRY
• TILE FLOORING
• GENEROUS CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+3.4%/yr); 166 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 44% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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 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: 1.19% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $193,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2823 Fern Ave	0.00mi	4/1.0	1,152 (0%)	1mo	$129,900	$113	99
2411 Lindale Rd	0.59mi	4/1.0	1,146 (-0%)	3mo	$110,000	$96	69
1830 Milford Ave	0.25mi	3/1.0 (-1)	1,232 (+7%)	4mo	$75,000	$61	68
2728 Perdue Ave	0.36mi	3/1.0 (-1)	1,224 (+6%)	2mo	$100,000	$82	66
1884 E North Broadway St	0.34mi	3/1.0 (-1)	1,277 (+11%)	4mo	$215,000	$168	58
3001 Woodland Ave	0.50mi	3/1.5 (-1)	1,075 (-7%)	3mo	$195,000	$181	56
3034 Kenlawn St	0.53mi	3/1.0 (-1)	1,072 (-7%)	3mo	$215,000	$201	56
2407 Marcia Dr	0.70mi	4/1.5	1,204 (+4%)	3mo	$162,500	$135	55
2861 Woodland Ave	0.40mi	3/2.0 (-1)	1,011 (-12%)	4mo	$185,000	$183	49
3039 Dresden St	0.72mi	3/2.0 (-1)	1,211 (+5%)	1mo	$245,000	$202	48
2902 Northglen Dr	0.66mi	3/1.0 (-1)	979 (-15%)	0mo	$150,000	$153	39
1678 Oakland Park Ave	0.66mi	3/2.0 (-1)	1,295 (+12%)	1mo	$235,000	$181	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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-2,382
• Equity at exit: $19,369

10-year hold

• IRR: 8.5%
• Equity multiple: 1.66×
• Total profit: $23,937
• Equity at exit: $11,231

Cash invested: $36,372 (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 43211

• Home prices YoY: -27.3%
• Rents YoY: 3.4%
• Active inventory: 166
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,551 high
• Mortgage (P&I): −$681
• Tax from tax record: −$208 /mo · $2,491/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $282

Break-even live

Break-even rent $1,194

Max offer price $129,900

Occupancy floor 77%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2718 Fern Ave Columbus, OH	3.0	1.0	1100	$1,640	$1.49	44d	1	0.17mi
1849 Robert St Columbus, OH	3.0	1.0	816	$1,300	$1.59	3d	1	0.24mi
2590 Parkwood Ave Unit 2590 Columbus, OH	3.0	1.0	1152	$1,400	$1.22	24d	1	0.36mi
2707 Woodland Ave Columbus, OH	3.0	1.0	957	$1,400	$1.46	17d	1	0.42mi
2540 Parkwood Ave Columbus, OH	4.0	1.0	1374	$1,400	$1.02	44d	1	0.43mi
1709 E Weber Rd Columbus, OH	3.0	1.0	1154	$1,100	$0.95	44d	1	0.47mi
2901 Bridgewalk St Unit 2901 Columbus, OH	3.0	1.5	950	$1,295	$1.36	24d	1	0.67mi
1536 E Weber Rd Columbus, OH	3.0	2.0	1332	$1,695	$1.27	20d	1	0.69mi
1536 E Weber Rd Columbus, OH	3.0	2.0	1332	$1,695	$1.27	24d	1	0.69mi
2291 Taylor Ave Columbus, OH	3.0	1.0	979	$1,300	$1.33	44d	1	0.77mi
2695 Divot Pl Unit 2676 Columbus, OH	3.0	2.0	1050	$1,149	$1.09	44d	1	0.78mi
2341 Dawnlight Ave Columbus, OH	3.0	1.0	920	$1,550	$1.68	3d	1	0.89mi
3333 Dresden St Columbus, OH	4.0	2.0	1130	$3,150	$2.79	44d	1	0.92mi
1514 Republic Ave Unit 1514 Columbus, OH	3.0	1.5	1288	$1,450	$1.13	24d	1	0.94mi
1527 Republic Ave Columbus, OH	3.0	1.0	1176	$1,345	$1.14	44d	1	0.95mi
1527 Republic Ave Columbus, OH	3.0	1.0	1176	$1,299	$1.10	24d	1	0.95mi
1354 Minnesota Ave Columbus, OH	3.0	2.0	1350	$1,800	$1.33	12d	1	0.98mi
1624 Kohr Pl Columbus, OH	3.0	1.0	1176	$1,400	$1.19	15d	1	1.00mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,395	$1.54	8d	1	1.04mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,425	$1.57	20d	1	1.04mi
2132 Elmore Ave Columbus, OH	3.0	1.0	1000	$1,245	$1.25	24d	1	1.10mi
1269 Minnesota Ave Columbus, OH	3.0	1.0	1075	$1,550	$1.44	8d	1	1.10mi
3267 Walmar Dr Columbus, OH	3.0	1.0	1106	$1,550	$1.40	24d	1	1.14mi
3054 McGuffey Rd Columbus, OH	3.0	1.0	1106	$1,450	$1.31	44d	1	1.21mi
3461 Gerbert Rd Columbus, OH	3.0	1.0	900	$1,350	$1.50	44d	1	1.22mi
1410 E Blake Ave Columbus, OH	3.0	1.0	1300	$1,700	$1.31	24d	1	1.28mi
3327 McGuffey Rd Columbus, OH	3.0	1.0	1100	$1,335	$1.21	8d	1	1.31mi
1879 Jermain Dr Columbus, OH	4.0	1.0	1077	$1,800	$1.67	44d	1	1.36mi
1652 E 25th Ave Columbus, OH	3.0	1.0	1200	$1,350	$1.12	24d	1	1.36mi
1660 E 25th Ave Columbus, OH	3.0	1.0	1200	$1,350	$1.12	44d	1	1.36mi
1612 E 25th Ave Columbus, OH	3.0	1.0	1200	$1,250	$1.04	24d	1	1.37mi
1356 Acton Rd Columbus, OH	3.0	1.5	1184	$2,000	$1.69	17d	1	1.45mi
2183 Painted Cliff Dr Columbus, OH	3.0	2.5	1356	$2,235	$1.65	2d	1	1.45mi
2176 Ontario St Columbus, OH	4.0	2.0	1066	$1,650	$1.55	24d	1	1.47mi

Listing history 13 events

1. 2026-04-22
   status Pending
2. 2026-04-14
   price $129,900
3. 2026-04-14
   status Active
4. 2026-03-21
   status Pending
5. 2026-03-10
   price $139,900
6. 2026-03-10
   status Active
7. 2026-02-06
   status Pending
8. 2026-01-16
   historical Contingent
9. 2026-01-09
   listed $149,900 Active
10. 2022-11-02
    soldstatus $3,601,400
11. 2006-09-22
    soldstatus $40,500 191-char remark

    Show marketing remark (191 chars)

    Needs work, but priced accordingly, brick/alum exterior, deep lot, huge basement. All offers MUST be presented with a lender letter or proof of funds, Earnest money is held by listing broker.

12. 2006-09-05
    historical 191-char remark

    Show marketing remark (191 chars)

    Needs work, but priced accordingly, brick/alum exterior, deep lot, huge basement. All offers MUST be presented with a lender letter or proof of funds, Earnest money is held by listing broker.

13. 2006-08-29
    listed $40,900 191-char remark

    Show marketing remark (191 chars)

    Needs work, but priced accordingly, brick/alum exterior, deep lot, huge basement. All offers MUST be presented with a lender letter or proof of funds, Earnest money is held by listing broker.

ⓘ 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: $2,491 · $208/mo
• Projected year-2 tax: $2,491 · $208/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 3/10 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,610
• − Mortgage interest: −$7,276
• − Property taxes: −$2,491
• − Insurance: −$650
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$3,779
• Taxable income: $1,436
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $3,042/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): 22,313
• Household income: $42,579
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1282.0

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 0.60)
• Race & ethnicity: Black 58% White 21% Hispanic / Latino 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Italian 1%
• Foreign-born: 10% · Canada, India
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 2% Arabic 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: ▼ -94.10%
• Current HPI: 250.3885
• Rent YoY: ▲ 3.41%
• 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

+217.6% since first listed

13 events — show timeline

• 2026-04-22 Pending — CBRMLS
• 2026-04-14 Price Changed $129,900 CBRMLS
• 2026-04-14 Relisted — CBRMLS
• 2026-03-21 Pending — CBRMLS
• 2026-03-10 Price Changed $139,900 CBRMLS
• 2026-03-10 Relisted — CBRMLS
• 2026-02-06 Pending — CBRMLS
• 2026-01-16 Contingent — CBRMLS
• 2026-01-09 Listed $149,900 CBRMLS
• 2022-11-02 Sold (Public Records) $3,601,400 Public Records
• 2006-09-22 Sold (MLS) $40,500 CBRMLS
• 2006-09-05 Listing Removed — CBRMLS
• 2006-08-29 Listed $40,900 CBRMLS

Property tax history

+5.9%/yr

Latest (2024): $2,491 · +1.3% YoY. Source: county tax records.