408 E 14th Ave · Columbus, OH 43201

$150,000

4 bd · 2.0 ba · 1,652 sqft · MultiFamily public records · 19 Days on market

Built 1905 6,098 sqft lot Est $249k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 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

Listing remarks

THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. Great opportunity to rehab this property and make it your own. The interior has been cleaned out, roof and siding repaired, repaired fascia and gutters, and a new parking pad. Per Columbus Water there may be a leak in the water line but the property is sold as-is and no guarantees are made as to the accuracy of that information. Due to the court approval process, this is not a quick close. The Receiver requests for in-state buyers only. * * SEE AGENT TO AGENT REMARKS * *

Key facts

• Rehab opportunity
• New parking pad
• Interior cleaned out

Tags

• REHAB OPPORTUNITY
• INTERIOR CLEANED OUT
• ROOF AND SIDING REPAIRED
• REPAIRED FASCIA AND GUTTERS
• NEW PARKING PAD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+2.1%/yr); 136 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,365/mo this rent would consume 65% of the median local household income ($44k/yr) (locally 4913% 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 $1k 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.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $18k; list at $150k implies a 722% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — 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 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: 1.58% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.70%
• DSCR: 1.74
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $249,452
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423-425 E 14th Ave	0.04mi	3/— (-1)	1,754 (+6%)	21mo	$265,000	$151	66

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 · 2.14% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $11,084
• Equity at exit: $22,365

10-year hold

• IRR: 15.4%
• Equity multiple: 2.19×
• Total profit: $50,172
• Equity at exit: $12,969

Cash invested: $42,000 (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 43201

• Rents YoY: 2.1%
• Active inventory: 136
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,365 high
• Mortgage (P&I): −$787
• Tax from tax record: −$435 /mo · $5,219/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $585

Break-even live

Break-even rent $1,625

Max offer price $150,000

Occupancy floor 70%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1669 Summit St Unit 1669 Columbus, OH	4.0	3.0	1300	$1,800	$1.38	44d	1	0.28mi
370 E 11th Ave Columbus, OH	2.0–3.0	1.0–2.5	986	$2,214	$2.24	2d	5	0.31mi
2027 N 4th St Columbus, OH	5.0	2.0	1660	$2,000	$1.20	44d	1	0.42mi
1522 Indianola Ave Unit C Columbus, OH	3.0	1.5	1270	$1,950	$1.54	24d	1	0.47mi
81-93 Chittenden Ave Unit 85 Columbus, OH	4.0	2.0	1595	$3,600	$2.26	7d	1	0.48mi
81-93 Chittenden Ave Unit 91 Columbus, OH	4.0	1.5	1595	$3,400	$2.13	44d	1	0.48mi
72 Chittenden Ave Unit C Columbus, OH	4.0	1.0	1050	$3,400	$3.24	44d	1	0.48mi
64 Chittenden Ave Unit 66 Columbus, OH	4.0	3.0	1500	$3,200	$2.13	44d	1	0.49mi
258 E Lane Ave Columbus, OH	4.0	2.0	2043	$2,500	$1.22	44d	1	0.55mi
127 E 8th Ave Columbus, OH	3.0	3.0	2000	$3,800	$1.90	44d	1	0.58mi
2158 Indiana Ave Columbus, OH	5.0	2.0	1698	$2,000	$1.18	44d	1	0.62mi
2169 Indianola Ave Unit 2169 C Columbus, OH	4.0	2.0	1200	$3,400	$2.83	44d	1	0.67mi
2137 Waldeck Ave Unit 2137 Columbus, OH	3.0	1.0	1352	$2,400	$1.78	7d	1	0.68mi
54 W 8th Ave Columbus, OH	3.0	2.0	1200	$1,600	$1.33	44d	1	0.75mi
898 E 13th Ave Columbus, OH	3.0	1.0	1120	$1,230	$1.10	10d	1	0.75mi
898-900 E 13th Ave Unit 898 Columbus, OH	3.0	1.0	1120	$1,230	$1.10	7d	1	0.75mi
91 W 9th Ave Columbus, OH	5.0	3.0	1648	$2,400	$1.46	21d	1	0.78mi
89 W 9th Ave Columbus, OH	5.0	3.0	1596	$2,400	$1.50	44d	1	0.78mi
93 W 9th Ave Columbus, OH	5.0	3.0	1596	$800	$0.50	44d	1	0.78mi
86 W 8th Ave Unit A Columbus, OH	4.0	2.0	1648	$2,795	$1.70	44d	1	0.79mi
1206 N 4th St Columbus, OH	3.0	1.0–3.0	971	$3,279	$3.38	2d	44	0.79mi
1279 Indianola Ave Unit 1407029P Columbus, OH	4.0	3.5	1593	$5,904	$3.71	2d	1	0.79mi
121 W 9th Ave Columbus, OH	2.0–3.0	1.0	1525	$1,700	$1.11	44d	3	0.80mi
41 King Ave Unit D Columbus, OH	5.0	2.0	1750	$2,500	$1.43	44d	1	0.83mi
1268 Courtland Ave Columbus, OH	3.0	1.5	1300	$1,799	$1.38	3d	1	0.83mi
100 McMillen Ave Unit C Columbus, OH	3.0	2.0	1200	$1,649	$1.37	15d	1	0.84mi
989 E 15th Ave Columbus, OH	3.0	1.0	1204	$1,250	$1.04	24d	1	0.86mi
1438 Hunter Ave #1440 Columbus, OH	5.0	2.5	2050	$2,500	$1.22	44d	1	0.86mi
2350 Indiana Ave Columbus, OH	3.0	2.0	1195	$2,600	$2.18	44d	1	0.88mi
1042 E 14th Ave Columbus, OH	3.0	1.0	1084	$1,350	$1.25	24d	1	0.94mi
1102 Summit St Columbus, OH	3.0	2.5	1808	$3,200	$1.77	44d	1	0.98mi
1282 Hunter Ave Columbus, OH	1.0–3.0	1.0–2.0	1350	$2,100	$1.56	7d	2	0.99mi
325 Clinton St Unit 325 Columbus, OH	3.0	1.0	1176	$1,650	$1.40	17d	1	1.00mi
1094 Say Ave Columbus, OH	3.0	2.0	1400	$2,995	$2.14	44d	1	1.01mi
64 W Northwood Ave Unit C Columbus, OH	4.0	2.0	1800	$3,200	$1.78	44d	1	1.01mi
1097 E 16th Ave Columbus, OH	3.0	1.0	1200	$1,300	$1.08	21d	1	1.01mi
1099 E 16th Ave Columbus, OH	3.0	1.0	1200	$1,300	$1.08	21d	1	1.01mi
73 E Maynard Ave Columbus, OH	5.0	2.0	1500	$3,650	$2.43	44d	1	1.01mi
1174 Walters St Columbus, OH	3.0	1.0	1200	$1,549	$1.29	44d	1	1.03mi
431 E Tompkins St Unit 433 Columbus, OH	3.0	1.0	1200	$1,595	$1.33	7d	1	1.03mi

Listing history 11 events

1. 2026-02-04
   status Pending
2. 2026-01-16
   listed $150,000 Active
3. 2020-05-15
   historical
4. 2019-12-11
   listed $219,500 Active
5. 2019-07-02
   historical
6. 2019-05-20
   price $224,000
7. 2019-05-20
   status Active
8. 2019-03-19
   historical
9. 2019-01-21
   listed $229,000 Active
10. 1994-02-18
    soldstatus $18,250
11. 1992-06-01
    soldstatus $18,250

ⓘ 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: $5,219 · $435/mo
• Projected year-2 tax: $5,219 · $435/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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,383
• − Mortgage interest: −$8,402
• − Property taxes: −$5,219
• − Insurance: −$750
• − Repairs & maintenance: −$2,271
• − Management: −$2,271
• − Depreciation: −$4,364
• Taxable income: $5,108
• Est. tax owed @ 24.0%: −$1,226
• After-tax cash flow: $5,789/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): 34,322
• Household income: $43,731
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 4913.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

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: ▼ -207.90%
• Current HPI: 321.7282
• Rent YoY: ▲ 2.14%
• 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

+721.9% since first listed

11 events — show timeline

• 2026-02-04 Pending — CBRMLS
• 2026-01-16 Listed $150,000 CBRMLS
• 2020-05-15 Listing Removed — CBRMLS
• 2019-12-11 Listed $219,500 CBRMLS
• 2019-07-02 Listing Removed — CBRMLS
• 2019-05-20 Price Changed $224,000 CBRMLS
• 2019-05-20 Relisted — CBRMLS
• 2019-03-19 Listing Removed — CBRMLS
• 2019-01-21 Listed $229,000 CBRMLS
• 1994-02-18 Sold (Public Records) $18,250 Public Records
• 1992-06-01 Sold (Public Records) $18,250 Public Records

Property tax history

+7.7%/yr

Latest (2024): $5,219 · -0.5% YoY. Source: county tax records.