407 E 13th Ave #405 · Columbus, OH 43201

$424,900

6 bd · 5.0 ba · 2,811 sqft · MultiFamily public records · 43 Days on market

Built 1900 6,098 sqft lot $151/sqft · 18% below area Est $520k · 18% under

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Why this score? — see what drove the C+ 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• 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

Amazing opportunity to buy in the campus district. This property has 6 bedrooms and 4 baths with an additional 4 bedrooms and 1 bath in the basement. The top level of the home also has 2 loft areas for extra seating or office space. There is a large amount of parking in the back as well as street parking. Call your Realtor today and make it your next purchase.

Key facts

• Loft areas
• Campus district
• 6,098 sq ft lot

Tags

• CAMPUS DISTRICT
• LOFT AREAS
• LARGE AMOUNT OF PARKING

Property features AI

Finance

• Financial info: Property listed as Real Estate Owned

Exterior

• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Storm sewer
• Home design: Duplex; Built in 1900; Unit address includes #405
• Exterior features: Lot approximately 0.14 acres; Cross street: Big 4 St

Interior

• Heating & cooling: Central Air; Forced Air
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $4,518/mo this rent would consume 124% 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 $3k of loan paydown is wiped out by about $13k 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 43 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $412,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1900 — 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 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: 1.06% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $520,341
• List price: $424,900
• Delta: -18.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 - 403 E 13th Ave	0.01mi	7/2.0 (+1)	2,952 (+5%)	7mo	$435,000	$147	69
1357-59 N 6th St	0.42mi	6/—	2,621 (-7%)	1mo	$435,000	$166	68
1243 N 5th St	0.60mi	5/— (-1)	2,632 (-6%)	8mo	$368,100	$140	49
1285-1287 N 5th St	0.54mi	5/4.5 (-1)	3,042 (+8%)	15mo	$515,000	$169	41
1214 Summit St #1212	0.72mi	5/— (-1)	2,657 (-6%)	16mo	$440,000	$166	39
1268-1270 Courtland Ave	0.74mi	6/—	2,504 (-11%)	19mo	$537,000	$214	31

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-32,116
• Equity at exit: $63,354

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $8,879
• Equity at exit: $36,738

Cash invested: $118,972 (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: 31.4×

Monthly cashflow live

• Estimated rent: $4,518 high
• Mortgage (P&I): −$2,228
• Tax from tax record: −$527 /mo · $6,328/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$949
• Net cashflow: $637

Break-even live

Break-even rent $3,712

Max offer price $424,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,516
Total (4 units)			$4,518

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 E 17th Ave Columbus, OH	6.0	3.0	2300	$3,200	$1.39	43d	1	0.34mi
356 E 20th Ave Columbus, OH	5.0	3.0	2547	$3,000	$1.18	43d	1	0.55mi
2040 Iuka Ave Columbus, OH	1.0–5.0	1.0–2.5	3000	$3,250	$1.08	14d	3	0.60mi
1329 Indianola Ave Unit 1407030P Columbus, OH	6.0	2.5	3498	$8,656	$2.47	21d	1	0.64mi
1329 Indianola Ave Unit 1407025P Columbus, OH	5.0	2.5	3498	$8,624	$2.47	23d	1	0.64mi
1438 Hunter Ave #1440 Columbus, OH	5.0	2.5	2050	$2,500	$1.22	43d	1	0.83mi
294 King Ave Columbus, OH	5.0	3.0	2500	$2,395	$0.96	43d	1	1.06mi

Listing history 39 events

1. 2026-06-18
   days on market $424,900 Active 43 DOM
2. 2026-06-17
   days on market $424,900 Active 42 DOM
3. 2026-06-16
   days on market $424,900 Active 41 DOM
4. 2026-06-15
   days on market $424,900 Active 40 DOM
5. 2026-06-13
   days on market $424,900 Active 38 DOM
6. 2026-06-13
   pricedays on market $424,900 Active 37 DOM
7. 2026-06-09
   days on market $439,900 Active 34 DOM
8. 2026-06-08
   days on market $439,900 Active 33 DOM
9. 2026-06-07
   days on market $439,900 Active 32 DOM
10. 2026-06-05
    days on market $439,900 Active 29 DOM
11. 2026-06-03
    days on market $439,900 Active 28 DOM
12. 2026-06-02
    days on market $439,900 Active 27 DOM
13. 2026-06-01
    days on market $439,900 Active 26 DOM
14. 2026-05-31
    days on market $439,900 Active 25 DOM
15. 2026-05-06
    listed $439,900 Active 362-char remark
16. 2024-02-16
    status Pending
17. 2024-02-16
    historical
18. 2024-02-10
    price $599,900
19. 2024-02-10
    status Active
20. 2024-01-31
    historical Contingent Finance and Inspection
21. 2023-12-28
    price $622,500
22. 2023-11-28
    price $625,000
23. 2023-11-24
    price $629,500
24. 2023-11-24
    status Active
25. 2023-11-17
    historical Contingent Finance and Inspection
26. 2023-11-15
    listed $629,900 Active
27. 2022-10-27
    historical Contingent Finance and Inspection
28. 2022-10-27
    historical
29. 2022-10-20
    price $649,000
30. 2022-10-17
    status Active
31. 2022-09-26
    historical Contingent Finance and Inspection
32. 2022-09-19
    listed $689,000 Active
33. 2020-12-22
    soldstatus $599,900 Closed
34. 2020-11-24
    historical Contingent Finance and Inspection
35. 2020-11-18
    listed $599,900 Active
36. 2017-05-03
    soldstatus $241,000
37. 2017-02-16
    soldstatus $215,000
38. 2015-08-11
    soldstatus $65,000
39. 1978-01-01
    soldstatus $21,000

ⓘ 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: $6,328 · $527/mo
• Projected year-2 tax: $6,478 · $540/mo
• Expected delta: +$150/yr (+$13/mo · 2.4%)

ⓘ 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: $54,216
• − Mortgage interest: −$23,801
• − Property taxes: −$6,328
• − Insurance: −$2,124
• − Repairs & maintenance: −$4,337
• − Management: −$4,337
• − Depreciation: −$12,361
• Taxable income: $927
• Est. tax owed @ 24.0%: −$223
• After-tax cash flow: $7,417/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

+1923.3% since first listed

26 events — show timeline

• 2026-06-10 Price Changed $424,900 CBRMLS
• 2026-05-06 Listed $439,900 CBRMLS
• 2024-02-16 Pending — CBRMLS
• 2024-02-16 Listing Removed — CBRMLS
• 2024-02-10 Price Changed $599,900 CBRMLS
• 2024-02-10 Relisted — CBRMLS
• 2024-01-31 Contingent — CBRMLS
• 2023-12-28 Price Changed $622,500 CBRMLS
• 2023-11-28 Price Changed $625,000 CBRMLS
• 2023-11-24 Price Changed $629,500 CBRMLS
• 2023-11-24 Relisted — CBRMLS
• 2023-11-17 Contingent — CBRMLS
• 2023-11-15 Listed $629,900 CBRMLS
• 2022-10-27 Contingent — CBRMLS
• 2022-10-27 Listing Removed — CBRMLS
• 2022-10-20 Price Changed $649,000 CBRMLS
• 2022-10-17 Relisted — CBRMLS
• 2022-09-26 Contingent — CBRMLS
• 2022-09-19 Listed $689,000 CBRMLS
• 2020-12-22 Sold (MLS) $599,900 CBRMLS
• 2020-11-24 Contingent — CBRMLS
• 2020-11-18 Listed $599,900 CBRMLS
• 2017-05-03 Sold (Public Records) $241,000 Public Records
• 2017-02-16 Sold (Public Records) $215,000 Public Records
• 2015-08-11 Sold (Public Records) $65,000 Public Records
• 1978-01-01 Sold (Public Records) $21,000 Public Records

Property tax history

+14.8%/yr

Latest (2024): $6,328 · -1.1% YoY. Source: county tax records.