835 Summit St · Columbus, OH 43215

$209,000

3 bd · 1.0 ba · 1,407 sqft · SingleFamily public records · 92 Days on market

Built 1900 3,920 sqft lot ↓ 42% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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 and an unsafe order from the Dept. of Building and Zoning that will need to be abated by the buyer in accordance with all appropriate historic district requirements. 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

• 3,920 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $190k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 soft (-0.5%/yr); 166 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,930/mo this rent would consume 47% of the median local household income ($74k/yr) (locally 1832% 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 $6k 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 + 0.0% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $150k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,190 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.40% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $446,019
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
783 Kerr St	0.10mi	3/1.5	1,328 (-6%)	2mo	$390,000	$294	82
1105 Say Ave	0.39mi	2/2.5 (-1)	1,372 (-2%)	2mo	$435,000	$317	65
1012 Hunter Ave	0.49mi	2/1.5 (-1)	1,452 (+3%)	2mo	$551,000	$379	63
1214 Hamlet St	0.54mi	3/1.5	1,362 (-3%)	7mo	$340,000	$250	62
181 E 4th Ave	0.39mi	2/1.0 (-1)	1,312 (-7%)	6mo	$456,000	$348	60
938 Hunter Ave	0.47mi	2/1.5 (-1)	1,347 (-4%)	6mo	$526,000	$390	59
66 E 4th Ave	0.44mi	4/1.5 (+1)	1,322 (-6%)	6mo	$445,000	$337	57
1114 Summit St	0.39mi	3/1.5	1,558 (+11%)	8mo	$350,000	$225	56
236 E 4th Ave	0.43mi	2/3.0 (-1)	1,342 (-5%)	6mo	$425,000	$317	54
1222 Hamlet St	0.55mi	4/1.0 (+1)	1,606 (+14%)	0mo	$285,000	$177	45
1325 N 4th St	0.72mi	2/2.0 (-1)	1,303 (-7%)	0mo	$265,000	$203	45
995 Harrison Ave	0.73mi	3/1.5	1,576 (+12%)	3mo	$520,000	$330	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.20×
• Total profit: $11,843
• Equity at exit: $31,163

10-year hold

• IRR: 11.9%
• Equity multiple: 1.81×
• Total profit: $47,198
• Equity at exit: $18,071

Cash invested: $58,520 (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 43215

• Rents YoY: -0.5%
• Active inventory: 166
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,930 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$280 /mo · $3,361/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $852

Break-even live

Break-even rent $1,852

Max offer price $209,000

Occupancy floor 66%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 E Prescott St Unit 1265638P Columbus, OH	2.0	1.0	1496	$4,908	$3.28	2d	1	0.05mi
70 E Prescott St Unit 1265619P Columbus, OH	2.0	1.0	1496	$4,112	$2.75	7d	1	0.06mi
35 E Hubbard Ave Columbus, OH	1.0–2.0	1.0–2.0	1252	$7,495	$5.98	2d	1	0.11mi
20 E Hubbard Ave Columbus, OH	1.0–2.0	1.5–2.5	1039	$2,395	$2.30	2d	5	0.13mi
138 Sommerfeld Pl Columbus, OH	1.0–3.0	1.0–2.5	1212	$2,030	$1.67	2d	21	0.14mi
818 N 4th St Columbus, OH	2.0	2.5	1336	$2,850	$2.13	23d	1	0.16mi
726 Kerr St Columbus, OH	3.0	1.0	986	$2,200	$2.23	43d	1	0.18mi
962 Mount Pleasant Ave Columbus, OH	2.0	1.5	1626	$2,650	$1.63	43d	1	0.19mi
936 N High St Columbus, OH	2.0	2.0	1277	$3,245	$2.54	7d	1	0.19mi
772 N 4th St Columbus, OH	1.0–2.0	1.0–2.0	883	$2,384	$2.70	2d	6	0.20mi
769 N High St Columbus, OH	2.0	1.0	990	$1,700	$1.72	3d	1	0.20mi
153 Punta Aly Columbus, OH	3.0	1.5	1358	$2,100	$1.55	43d	1	0.20mi
797 N Wall St Columbus, OH	1.0–2.0	1.0–2.0	1119	$5,995	$5.36	2d	1	0.22mi
96 Brickel St Unit 1265642P Columbus, OH	2.0	1.0	1496	$5,074	$3.39	2d	1	0.24mi
98 Brickel St Unit 1265625P Columbus, OH	2.0	1.0	1496	$5,427	$3.63	7d	1	0.24mi
984 N High St Unit 302 Columbus, OH	2.0	1.0	956	$1,495	$1.56	43d	1	0.24mi
283 E 1st Ave Columbus, OH	1.0–2.0	1.0–2.5	1076	$2,867	$2.66	2d	17	0.24mi
31 Lundy St Unit 1265641P Columbus, OH	2.0	1.0	1194	$4,604	$3.86	1d	1	0.25mi
33 Lundy St Unit 1265647P Columbus, OH	2.0	1.0	1194	$4,332	$3.63	2d	1	0.25mi
21 W 2nd Ave Columbus, OH	2.0	1.0–2.5	860	$3,814	$4.43	1d	28	0.25mi
9 Buttles Ave Columbus, OH	1.0–2.0	1.5–2.0	1037	$1,995	$1.92	7d	1	0.26mi
985 N High St Columbus, OH	2.0	1.0–2.0	1113	$3,895	$3.50	1d	8	0.26mi
94 E 3rd Ave Columbus, OH	2.0	2.0	1075	$1,795	$1.67	2d	1	0.28mi
63 E Russell St Unit 1265613P Columbus, OH	2.0	1.0	1496	$4,078	$2.73	2d	1	0.30mi
59 E Russell St Unit 1265648P Columbus, OH	2.0	2.0	1291	$6,189	$4.79	15d	1	0.30mi
1063 Summit St Columbus, OH	2.0	1.5	1300	$1,875	$1.44	43d	1	0.31mi
367 Auden Ave #311 Columbus, OH	2.0	2.0	1275	$2,950	$2.31	3d	1	0.32mi
773 Waldron St Columbus, OH	1.0–2.0	1.0–2.0	931	$2,453	$2.63	1d	23	0.34mi
1102 Summit St Columbus, OH	3.0	2.5	1808	$3,200	$1.77	43d	1	0.36mi
1094 Say Ave Columbus, OH	3.0	2.0	1400	$2,995	$2.14	43d	1	0.36mi
301 Dickenson St Columbus, OH	2.0	1.0–2.0	694	$2,229	$3.21	2d	16	0.36mi
1079 N High St Columbus, OH	1.0–2.0	1.0–2.0	993	$2,525	$2.54	2d	8	0.38mi
76 W Starr Ave Columbus, OH	3.0	1.0	1500	$3,400	$2.27	43d	1	0.39mi
1020 Lusso Ave Unit 320 Columbus, OH	2.0	2.0	975	$1,676	$1.72	21d	1	0.40mi
1020 Lusso Ave Unit 206 Columbus, OH	2.0	2.0	975	$1,599	$1.64	43d	1	0.40mi
876 Dennison Ave Columbus, OH	2.0	1.0	1400	$1,800	$1.29	17d	1	0.40mi
680 Civitas Ave Columbus, OH	1.0–2.0	1.0–2.0	855	$2,488	$2.91	1d	42	0.41mi
1055 Lusso Ave Columbus, OH	1.0–2.0	1.0–2.0	905	$1,738	$1.92	2d	13	0.42mi
111 W 3rd Ave Columbus, OH	1.0–2.0	1.0–2.0	1016	$2,197	$2.16	2d	10	0.46mi
1025 Dennison Ave Columbus, OH	2.0	1.0–2.0	984	$2,616	$2.66	2d	9	0.46mi

Listing history 8 events

1. 2026-01-16
   status Pending
2. 2025-12-12
   price $209,000
3. 2025-12-02
   price $229,000
4. 2025-11-11
   price $249,000
5. 2025-10-22
   price $299,000
6. 2025-10-16
   listed $359,000 Active
7. 2025-10-03
   historical
8. 2025-04-29
   listed $359,900 Active

ⓘ 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: $3,361 · $280/mo
• Projected year-2 tax: $3,361 · $280/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: $35,161
• − Mortgage interest: −$11,707
• − Property taxes: −$3,361
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − Depreciation: −$6,080
• Taxable income: $7,343
• Est. tax owed @ 24.0%: −$1,762
• After-tax cash flow: $8,457/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): 17,836
• Household income: $74,087
• Rent vs Own: 80.2% rent · 19.8% own
• Severe rent burden: 1832.0

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 (75%)
• Race & ethnicity: White 75% Black 9% Hispanic / Latino 6% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · South Korea, Canada, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 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: ▼ -284.36%
• Current HPI: 113.39
• Rent YoY: ▼ -0.46%
• 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

-41.9% since first listed

8 events — show timeline

• 2026-01-16 Pending — CBRMLS
• 2025-12-12 Price Changed $209,000 CBRMLS
• 2025-12-02 Price Changed $229,000 CBRMLS
• 2025-11-11 Price Changed $249,000 CBRMLS
• 2025-10-22 Price Changed $299,000 CBRMLS
• 2025-10-16 Listed $359,000 CBRMLS
• 2025-10-03 Listing Removed — CBRMLS
• 2025-04-29 Listed $359,900 CBRMLS

Property tax history

+18.8%/yr

Latest (2024): $3,361 · +8.5% YoY. Source: county tax records.