1040-1042 Loretta Ave · Columbus, OH 43211

$169,997

4 bd · 2.0 ba · 1,344 sqft · MultiFamily public records · 37 Days on market

Built 1950 4,791 sqft lot $126/sqft · 6% below area Est $181k · 6% 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 +27.9/30.0
• ARV discount +10.2/15.0
• DSCR +9.9/10.0
• 1% rule +7.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

CONCRETE BLOCK CONSTRUCTION. ONE OF FIVE AVAILABLE SIDE BY SIDE.

Key facts

• Minimal vacancy
• Strong rental income
• 4,791 sq ft lot

Tags

• CASH FLOWING DUPLEXES
• STRONG RENTAL INCOME
• MINIMAL VACANCY
• PROFESSIONALLY MANAGED
• STABLE OCCUPANCY HISTORY
• SEPARATELY SUB METERED WATER

Property features AI

Finance

• Financial info: Annual tax (2024): $1,792

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Storm sewer
• Home design: Duplex; Built in 1950
• Exterior features: Lot in Linden subdivision; Cross street: Hudson

Interior

• Bedrooms: Duplex with 2 total units
• Heating & cooling: Forced Air heating
• Interior features: Forced Air heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive. Per door: $262/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+3.4%/yr); 166 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); lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,070/mo this rent would consume 58% of the median local household income ($43k/yr) (locally 1282% 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 $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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,897 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• GRM: 6.8

CMA / ARV

• ARV (median comp): $180,732
• List price: $169,997
• Delta: -5.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1089-1091 E 26th Ave	0.52mi	4/—	1,500 (+12%)	2mo	$185,000	$123	55
2243-2245 Jefferson Ave	0.30mi	4/—	1,456 (+8%)	24mo	$135,000	$93	53
2885 Atwood Ter	0.63mi	4/—	1,456 (+8%)	22mo	$209,900	$144	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: 3.6%
• Equity multiple: 1.14×
• Total profit: $6,655
• Equity at exit: $25,347

10-year hold

• IRR: 13.5%
• Equity multiple: 2.10×
• Total profit: $52,259
• Equity at exit: $14,698

Cash invested: $47,599 (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: 13.7×

Monthly cashflow live

• Estimated rent: $2,070 high
• Mortgage (P&I): −$891
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $524

Break-even live

Break-even rent $1,407

Max offer price $169,997

Occupancy floor 70%

Sensitivity live

Price	-10% $620	-5% $572	+0% $524	+5% $476	+10% $427
Rent	-10% $360	-5% $442	+0% $524	+5% $605	+10% $687
Rate	-1.0pp $609	-0.5pp $567	base $524	+0.5pp $480	+1.0pp $435

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,070
Total (2 units)			$2,070

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: $42,499
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2453 McGuffey Rd Columbus, OH	5.0	3.0	1782	$2,200	$1.23	45d	1	0.07mi
2566 Atwood Ter Columbus, OH	3.0	1.0	979	$1,500	$1.53	25d	1	0.16mi
2460 Hiawatha St Columbus, OH	3.0	1.0	1768	$1,300	$0.74	9d	1	0.18mi
1269 Minnesota Ave Columbus, OH	3.0	1.0	1075	$1,550	$1.44	9d	1	0.41mi
2767 Hiawatha St Columbus, OH	3.0	1.0	896	$1,475	$1.65	9d	1	0.44mi
2176 Ontario St Columbus, OH	4.0	2.0	1066	$1,650	$1.55	25d	1	0.51mi
1354 Minnesota Ave Columbus, OH	3.0	2.0	1350	$1,800	$1.33	13d	1	0.52mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,395	$1.54	9d	1	0.59mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,425	$1.57	21d	1	0.59mi
1410 E Blake Ave Columbus, OH	3.0	1.0	1300	$1,700	$1.31	25d	1	0.70mi
1514 Republic Ave Unit 1514 Columbus, OH	3.0	1.5	1288	$1,450	$1.13	25d	1	0.70mi
1527 Republic Ave Columbus, OH	3.0	1.0	1176	$1,345	$1.14	45d	1	0.72mi
1527 Republic Ave Columbus, OH	3.0	1.0	1176	$1,299	$1.10	25d	1	0.72mi
2552 Glenmawr Ave Unit 1407032P Columbus, OH	3.0	3.0	1593	$6,256	$3.93	9d	1	0.82mi
2552 Glenmawr Ave Unit 1407028P Columbus, OH	3.0	3.0	1593	$6,320	$3.97	13d	1	0.82mi
1536 E Weber Rd Columbus, OH	3.0	2.0	1332	$1,695	$1.27	21d	1	0.83mi
1536 E Weber Rd Columbus, OH	3.0	2.0	1332	$1,695	$1.27	25d	1	0.83mi
1185 E 22nd Ave Columbus, OH	3.0	1.0	1304	$1,400	$1.07	45d	1	0.85mi
1269 E 23rd Ave Columbus, OH	3.0	1.0	1175	$1,350	$1.15	9d	1	0.85mi
3054 McGuffey Rd Columbus, OH	3.0	1.0	1106	$1,450	$1.31	45d	1	0.86mi
1320 E 23rd Ave Unit 1320 Columbus, OH	3.0	1.0	1134	$1,050	$0.93	45d	1	0.88mi
431 E Tompkins St Unit 433 Columbus, OH	3.0	1.0	1200	$1,595	$1.33	9d	1	0.88mi
1624 Kohr Pl Columbus, OH	3.0	1.0	1176	$1,400	$1.19	16d	1	0.91mi
1906-1908 Cleveland Ave Columbus, OH	3.0	1.0	1384	$1,295	$0.94	45d	1	0.94mi
1272 E 21st Ave Unit 1272 Columbus, OH	3.0	1.5	1176	$1,400	$1.19	12d	1	0.94mi
1695 E Weber Rd Columbus, OH	4.0	2.0	1560	$1,600	$1.03	17d	1	1.01mi
2350 Indiana Ave Columbus, OH	3.0	2.0	1195	$2,600	$2.18	45d	1	1.02mi
1709 E Weber Rd Columbus, OH	3.0	1.0	1154	$1,100	$0.95	45d	1	1.02mi
325 Clinton St Unit 325 Columbus, OH	3.0	1.0	1176	$1,650	$1.40	18d	1	1.03mi
1318-1320 E 20th Ave Unit 1318 Columbus, OH	3.0	1.0	1120	$1,275	$1.14	9d	1	1.04mi
335 E Duncan St Columbus, OH	3.0	1.0	1120	$1,595	$1.42	45d	1	1.04mi
780 E Brighton Rd Columbus, OH	3.0	1.0	1086	$1,500	$1.38	9d	1	1.06mi
2658 Deming Ave Columbus, OH	3.0	1.0	1120	$1,695	$1.51	45d	1	1.06mi
2584 Deming Ave Columbus, OH	3.0	1.5	1350	$2,000	$1.48	17d	1	1.07mi
2872 Indianola Ave Columbus, OH	3.0	1.0	1000	$1,799	$1.80	45d	1	1.07mi
1145 E 18th Ave Columbus, OH	3.0	1.0	1202	$1,225	$1.02	16d	1	1.07mi
1011 Mohican Ave Columbus, OH	3.0	1.0	1091	$1,399	$1.28	45d	1	1.07mi
1612 E 25th Ave Columbus, OH	3.0	1.0	1200	$1,250	$1.04	25d	1	1.12mi
1156 E 17th Ave Columbus, OH	3.0	1.0	1212	$1,200	$0.99	45d	1	1.12mi
2027 N 4th St Columbus, OH	5.0	2.0	1660	$2,000	$1.20	45d	1	1.13mi

Listing history 32 events

1. 2026-06-21
   days on market $169,997 Active 37 DOM
2. 2026-06-18
   days on market $169,997 Active 34 DOM
3. 2026-06-17
   days on market $169,997 Active 33 DOM
4. 2026-06-16
   days on market $169,997 Active 32 DOM
5. 2026-06-15
   days on market $169,997 Active 31 DOM
6. 2026-06-13
   days on market $169,997 Active 29 DOM
7. 2026-06-13
   days on market $169,997 Active 28 DOM
8. 2026-06-09
   days on market $169,997 Active 25 DOM
9. 2026-06-08
   days on market $169,997 Active 24 DOM
10. 2026-06-07
    days on market $169,997 Active 23 DOM
11. 2026-06-05
    days on market $169,997 Active 20 DOM
12. 2026-06-03
    days on market $169,997 Active 19 DOM
13. 2026-06-02
    days on market $169,997 Active 18 DOM
14. 2026-06-01
    days on market $169,997 Active 17 DOM
15. 2026-05-31
    days on market $169,997 Active 16 DOM
16. 2026-05-15
    listed $169,997 Active 1746-char remark
17. 2026-05-01
    historical $850
18. 2026-03-17
    historical $850
19. 2026-03-17
    listed $850
20. 2026-02-23
    price $850
21. 2025-11-01
    price $800
22. 2025-10-17
    listed $850
23. 2019-06-18
    soldstatus $210,000
24. 2017-03-03
    soldstatus $33,500
25. 1998-07-14
    soldstatus $30,000
26. 1998-07-14
    soldstatus $57,000
27. 1998-07-14
    soldstatus $57,000
28. 1998-07-09
    soldstatus $30,000 64-char remark

    Show marketing remark (64 chars)

    CONCRETE BLOCK CONSTRUCTION. ONE OF FIVE AVAILABLE SIDE BY SIDE.

29. 1998-06-29
    historical 64-char remark

    Show marketing remark (64 chars)

    CONCRETE BLOCK CONSTRUCTION. ONE OF FIVE AVAILABLE SIDE BY SIDE.

30. 1998-04-25
    listed $36,900 64-char remark

    Show marketing remark (64 chars)

    CONCRETE BLOCK CONSTRUCTION. ONE OF FIVE AVAILABLE SIDE BY SIDE.

31. 1995-10-06
    soldstatus $26,410
32. 1981-09-01
    soldstatus $28,200

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $2,222 · $185/mo
• Expected delta: +$430/yr (+$36/mo · 24.0%)

ⓘ 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 ≥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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,840
• − Mortgage interest: −$9,522
• − Property taxes: −$1,792
• − Insurance: −$850
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$4,945
• Taxable income: $3,756
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $5,383/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

+502.8% since first listed

17 events — show timeline

• 2026-05-15 Listed $169,997 CBRMLS
• 2026-05-01 Rental Removed $850 RENTALBEAST
• 2026-03-17 Rental Removed $850 TENANTTURNER2
• 2026-03-17 Listed for Rent $850 TENANTTURNER2
• 2026-02-23 Price Changed $850 RENTALBEAST
• 2025-11-01 Price Changed $800 RENTALBEAST
• 2025-10-17 Listed for Rent $850 RENTALBEAST
• 2019-06-18 Sold (Public Records) $210,000 Public Records
• 2017-03-03 Sold (Public Records) $33,500 Public Records
• 1998-07-14 Sold (Public Records) $57,000 Public Records
• 1998-07-14 Sold (Public Records) $57,000 Public Records
• 1998-07-14 Sold (Public Records) $30,000 Public Records
• 1998-07-09 Sold (MLS) $30,000 CBRMLS
• 1998-06-29 Listing Removed — CBRMLS
• 1998-04-25 Listed $36,900 CBRMLS
• 1995-10-06 Sold (Public Records) $26,410 Public Records
• 1981-09-01 Sold (Public Records) $28,200 Public Records

Property tax history

+6.0%/yr

Latest (2024): $1,792 · -0.6% YoY. Source: county tax records.