841 Ann St · Columbus, OH 43206

$120,000

None bd · None ba · 2,760 sqft · MultiFamily · 11 Days on market

Built 1914 Poor condition 6,098 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 +3.4/5.0
• Schools +1.7/10.0
• Condition / age +1.0/5.0
• 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. The buyer must provide the Receiver with a demolition or rehabilitation plan, project timeline, and proof of funds when submitting an offer. The property currently has an unsafe order that the buyer will be required to remediate. Any accepted contract is subject to court review and approval and will not be a quick close. Due to the condition of the property, an entry waiver is required. The Receiver requests in-state buyers only.

Key facts

• 6,098 sq ft lot
• Built 1914
• Listed 11 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $120k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 12.7% 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 (+3.5%/yr); 193 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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 + 3.5% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1914 — 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: 1.55% ✓
• Cap rate: 12.73%
• Cash-on-cash: 22.99%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $438,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
767 Wager St	0.11mi	4/3.0	2,892 (+5%)	13mo	$399,900	$138	76
519-521 E Deshler Ave	0.47mi	6/—	2,610 (-5%)	2mo	$415,000	$159	67
961-963 Heyl Ave	0.23mi	6/—	3,125 (+13%)	1mo	$598,000	$191	66
265-267 Siebert St	0.56mi	2/—	2,674 (-3%)	5mo	$585,000	$219	65
394-396 E Mithoff St	0.63mi	4/—	2,761 (0%)	10mo	$545,000	$197	62
890-892 S Champion Ave	0.56mi	—/—	2,711 (-2%)	14mo	$365,000	$135	60
385-387 Jackson St	0.50mi	5/—	2,502 (-9%)	2mo	$655,000	$262	59
887 E Livingston Ave	0.39mi	6/—	2,496 (-10%)	9mo	$400,000	$160	59
1113-1115 S Ohio Ave	0.53mi	6/—	2,576 (-7%)	11mo	$387,000	$150	55
1126-1128 S Ohio Ave	0.57mi	9/—	2,648 (-4%)	15mo	$309,400	$117	54
1167-1169 Wilson Ave	0.74mi	6/—	2,464 (-11%)	7mo	$220,000	$89	41
857-859 Wilson Ave	0.69mi	6/—	3,055 (+11%)	13mo	$465,000	$152	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 · 3.51% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.67×
• Total profit: $22,537
• Equity at exit: $17,892

10-year hold

• IRR: 25.5%
• Equity multiple: 3.28×
• Total profit: $76,511
• Equity at exit: $10,375

Cash invested: $33,600 (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 43206

• Rents YoY: 3.5%
• Active inventory: 193
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,864 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $644

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 60%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
484-488 E Columbus St Columbus, OH	2.0	1.5	2316	$1,650	$0.71	43d	1	0.23mi
890 E Livingston Ave #892 Columbus, OH	3.0	1.0	2430	$1,400	$0.58	12d	1	0.37mi
698 S 22nd St Columbus, OH	3.0	3.5	2400	$2,500	$1.04	43d	1	0.47mi
598 Lathrop St #6 Columbus, OH	2.0	2.5	2156	$4,500	$2.09	7d	1	0.48mi
310 E Beck St Columbus, OH	3.0	2.5	2265	$3,995	$1.76	43d	1	0.58mi
316 E Deshler Ave Columbus, OH	3.0	1.5	3701	$2,600	$0.70	23d	1	0.60mi
683 S Champion Ave Unit 683 Columbus, OH	3.0	1.0	2728	$1,700	$0.62	43d	1	0.60mi
172 Reinhard Ave Unit 172 Columbus, OH	2.0	1.0	2656	$1,900	$0.72	43d	1	0.69mi
174 Reinhard Ave Columbus, OH	2.0	1.0	2656	$2,500	$0.94	43d	1	0.69mi
627 Oakwood Ave Columbus, OH	3.0	2.5	2009	$2,379	$1.18	12d	1	0.71mi
498 S Ohio Ave Unit A Columbus, OH	2.0	1.0	2582	$1,500	$0.58	43d	1	0.74mi
860 S 3rd St Columbus, OH	1.0	1.0	2496	$1,375	$0.55	23d	1	0.77mi
1175 Studer Ave Columbus, OH	1.0	1.0	2484	$800	$0.32	23d	1	0.86mi
357 Frebis Ave #6 Columbus, OH	3.0	3.5	2160	$2,950	$1.37	43d	1	0.87mi
965 E Rich St Unit 965 Columbus, OH	3.0	1.0	2184	$1,600	$0.73	23d	1	0.89mi
895 S Wall St Columbus, OH	3.0	3.5	2139	$4,500	$2.10	2d	1	0.99mi
47 S Monroe Ave Unit 49 Columbus, OH	1.0	1.0	2476	$1,695	$0.68	43d	1	1.14mi
209 S High St Columbus, OH	1.0–3.0	1.0–3.0	1396	$2,348	$1.68	1d	22	1.30mi
155 E Broad St Columbus, OH	1.0–3.0	1.0–3.5	1380	$4,926	$3.57	7d	41	1.39mi
287 E Woodrow Ave Columbus, OH	2.0	1.0	2028	$1,300	$0.64	43d	1	1.43mi
1402 Fair Ave Columbus, OH	3.0	2.5	2563	$2,350	$0.92	15d	1	1.48mi

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-16
   listed $120,000 Active
3. 2024-12-02
   status Pending
4. 2024-07-29
   status Pending
5. 2024-07-29
   historical
6. 2024-07-19
   listed $120,000 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: $22,373
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$3,491
• Taxable income: $6,181
• Est. tax owed @ 24.0%: −$1,483
• After-tax cash flow: $6,240/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.

Condition & rehab AI · 6 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including structural repairs, exterior improvements, and landscaping. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major Exterior siding — Severe damage and peeling
• Major Roof — Signs of significant damage
• Major Foundation — Appears structurally compromised
• Major Landscaping — Overgrown and unkempt
• Major Windows — Boarded up, likely broken

Value-add opportunities

• Both Landscaping and exterior repairs — Improves curb appeal and property value
• Both Roof repair — Essential for structural integrity and safety
• Both Exterior siding repair — Enhances property appearance and value
• Both Foundation repair — Ensures structural stability and safety
• Both Window repair/replacement — Restores functionality and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe damage and peeling	Major	$15,000–50,000
Roof · Signs of significant damage	Major	$15,000–50,000
Foundation · Appears structurally compromised	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Windows · Boarded up, likely broken	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Landscaping and exterior repairs — Improves curb appeal and property value ↑
• Both Roof repair — Essential for structural integrity and safety ↑
• Both Exterior siding repair — Enhances property appearance and value ↑
• Both Foundation repair — Ensures structural stability and safety ↑
• Both Window repair/replacement — Restores functionality and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 21,996
• Household income: $75,806
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 846.0

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 0.59)
• Race & ethnicity: White 56% Black 31% Two or more races 9% Hispanic / Latino 4% Asian 1% Native American 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -576.73%
• Current HPI: 173.8569
• Rent YoY: ▲ 3.51%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-27 Pending — CBRMLS
• 2026-04-16 Listed $120,000 CBRMLS
• 2024-12-02 Pending — CBRMLS
• 2024-07-29 Pending — CBRMLS
• 2024-07-29 Listing Removed — CBRMLS
• 2024-07-19 Listed $120,000 CBRMLS