27 W Welch Ave · Columbus, OH 43207

$45,000

3 bd · 1.5 ba · 1,614 sqft · SingleFamily public records · 21 Days on market

Built 1928 4,356 sqft lot

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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

THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. The buyer MUST provide the Receiver with a rehabilitation or demolition plan, project timeline, and proof of funds when making an offer on the property. This property has exterior code violations that will need to be abated by the buyer. The sale also includes the adjacent parcel 010-018368. The accepted contract is subject to court review/ approval and will not be a quick close. The Receiver requests for in-state buyers only.

Key facts

• 4,356 sq ft lot
• Built 1928
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 37.2% 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); 197 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/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 $311 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 $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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. 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.
5. 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.
6. 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: 4.14% ✓
• Cap rate: 37.23%
• Cash-on-cash: 110.49%
• DSCR: 5.92
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $359,922
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
334 E Morrill Ave	0.53mi	3/2.0	1,638 (+2%)	1mo	$336,000	$205	70
1383 City Park Ave	0.26mi	3/1.0	1,456 (-10%)	1mo	$325,000	$223	68
92 E Innis Ave	0.33mi	3/2.5	1,513 (-6%)	2mo	$299,000	$198	68
1357 City Park Ave	0.30mi	3/2.5	1,464 (-9%)	2mo	$380,000	$260	65
172 E Woodrow Ave	0.35mi	4/2.0 (+1)	1,728 (+7%)	1mo	$268,000	$155	64
1373 S 4th St	0.34mi	2/1.5 (-1)	1,470 (-9%)	2mo	$325,000	$221	63
105 E Mithoff St	0.59mi	2/2.5 (-1)	1,640 (+2%)	2mo	$579,500	$353	60
139 E Moler St	0.40mi	2/3.0 (-1)	1,471 (-9%)	1mo	$436,000	$296	54
1403 Bruck St	0.48mi	2/2.0 (-1)	1,428 (-12%)	1mo	$395,000	$277	51
342 Sheldon Ave	0.59mi	2/1.5 (-1)	1,780 (+10%)	1mo	$362,000	$203	49
363 E Morrill Ave	0.58mi	2/1.5 (-1)	1,440 (-11%)	2mo	$329,000	$228	49
1532 Parsons Ave	0.70mi	2/1.5 (-1)	1,402 (-13%)	1mo	$185,500	$132	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: —
• Equity multiple: 6.19×
• Total profit: $65,358
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 12.67×
• Total profit: $147,046
• Equity at exit: $3,891

Cash invested: $12,600 (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: 197
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,862 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $1,160

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,191	-5% $1,176	+0% $1,160	+5% $1,145	+10% $1,129
Rent	-10% $1,013	-5% $1,087	+0% $1,160	+5% $1,234	+10% $1,307
Rate	-1.0pp $1,183	-0.5pp $1,172	base $1,160	+0.5pp $1,148	+1.0pp $1,137

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 W Morrill Ave Columbus, OH	1.0–3.0	1.0–2.0	935	$1,297	$1.39	8d	4	0.02mi
27 W Jenkins Ave Columbus, OH	2.0–3.0	1.0–1.5	1013	$1,458	$1.44	8d	4	0.21mi
122 E Woodrow Ave Columbus, OH	2.0	1.0	1200	$1,450	$1.21	15d	1	0.30mi
61 E Moler St #63 Columbus, OH	2.0	1.0	1050	$1,950	$1.86	15d	1	0.37mi
76-78 E Barthman Ave Columbus, OH	3.0	1.0	1206	$1,500	$1.24	24d	1	0.43mi
6 Hanford St #6 Columbus, OH	2.0	1.0	1080	$1,850	$1.71	44d	1	0.49mi
287 E Woodrow Ave Columbus, OH	2.0	1.0	2028	$1,300	$0.64	44d	1	0.53mi
106 E Gates St Columbus, OH	3.0	1.5	1472	$2,700	$1.83	15d	1	0.58mi
357 Frebis Ave #6 Columbus, OH	3.0	3.5	2160	$2,950	$1.37	44d	1	0.68mi
357 Frebis Ave #5 Columbus, OH	3.0	3.5	1748	$2,750	$1.57	44d	1	0.68mi
1110 S 4th St Columbus, OH	3.0	2.0	1465	$900	$0.61	8d	1	0.73mi
19 E Deshler Ave Columbus, OH	2.0	1.0	1104	$2,000	$1.81	22d	1	0.75mi
476 Southwood Ave Columbus, OH	2.0	1.0	1219	$1,400	$1.15	44d	1	0.76mi
490-492 E Jenkins Ave Unit 490 Columbus, OH	3.0	1.0	1050	$1,325	$1.26	44d	1	0.79mi
529 E Morrill Ave Columbus, OH	3.0	1.0	1318	$1,600	$1.21	4d	1	0.82mi
967-971 S High St Columbus, OH	2.0	1.0	1050	$1,700	$1.62	44d	1	0.85mi
396 E Mithoff St Columbus, OH	3.0	1.5	1380	$2,295	$1.66	11d	1	0.86mi
901 S Front St Columbus, OH	3.0	2.5	1743	$2,800	$1.61	44d	1	0.94mi
530 Hanford St Unit 1496117P Columbus, OH	4.0	3.0	1862	$7,310	$3.93	3d	1	0.94mi
895 S Wall St Columbus, OH	3.0	3.5	2139	$4,500	$2.10	3d	1	0.95mi
315 Siebert St Columbus, OH	3.0	1.0	1597	$2,200	$1.38	24d	1	1.00mi
662 Southwood Ave Columbus, OH	3.0	2.0	1183	$1,950	$1.65	21d	1	1.02mi
506 Thurman Ave Columbus, OH	3.0	1.0	1500	$1,600	$1.07	3d	1	1.02mi
573 E Mithoff St Columbus, OH	3.0	1.5	1300	$2,100	$1.62	44d	1	1.04mi
874 Macon Aly Columbus, OH	2.0	1.5	1213	$2,100	$1.73	22d	1	1.06mi
1061 Parsons Ave Columbus, OH	2.0	2.0	1408	$1,950	$1.38	44d	1	1.10mi
55 Fornof Rd Columbus, OH	1.0–4.0	1.0–2.0	924	$1,890	$2.04	2d	1	1.12mi
100 Frankfort Sq Columbus, OH	1.0–2.0	1.0–2.0	986	$2,264	$2.30	3d	25	1.12mi
850 Jaeger St Columbus, OH	2.0	1.0–2.5	910	$4,241	$4.66	2d	27	1.13mi
461-463 Reinhard Ave Columbus, OH	3.0	1.0	1134	$1,450	$1.28	4d	1	1.13mi
461-463 Reinhard Ave Unit 461 Columbus, OH	3.0	1.0	1134	$1,450	$1.28	4d	1	1.13mi
383 Schiller Aly Columbus, OH	2.0	1.5	1275	$2,550	$2.00	24d	1	1.16mi
317 E Kossuth St Columbus, OH	2.0	1.5	1192	$1,699	$1.43	44d	1	1.17mi
745 Mohawk St Columbus, OH	2.0	2.0	1218	$2,550	$2.09	44d	1	1.21mi
498 E Kossuth St Columbus, OH	2.0	1.5	1292	$1,795	$1.39	44d	1	1.31mi
257 Benfield Ave Unit NA Columbus, OH	3.0	1.0	1094	$1,400	$1.28	8d	1	1.36mi
630 Stanley Ave Columbus, OH	3.0	1.0	1300	$1,949	$1.50	24d	1	1.37mi
1416 S Ohio Ave Columbus, OH	3.0	1.5	1056	$1,595	$1.51	22d	1	1.37mi
761 Siebert St Columbus, OH	2.0	2.0	1050	$2,350	$2.24	4d	1	1.38mi
746 Beech St Columbus, OH	3.0	2.0	1610	$2,750	$1.71	44d	1	1.40mi

Listing history 2 events

1. 2025-12-09
   status Pending
2. 2025-11-18
   listed $45,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $22,346
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$1,309
• Taxable income: $14,040
• Est. tax owed @ 24.0%: −$3,370
• After-tax cash flow: $10,551/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

2 events — show timeline

• 2025-12-09 Pending — CBRMLS
• 2025-11-18 Listed $45,000 CBRMLS

Property tax history

+6.1%/yr

Latest (2024): $2,952 · -59.3% YoY. Source: county tax records.