1441 E Long St Unit A,B,C,D · Columbus, OH 43203

$499,900

20 bd · None ba · 5,130 sqft · MultiFamily · 116 Days on market

Built 1900 Good condition 7,840 sqft lot $97/sqft · 28% below area Est $693k · 28% under ↓ 12% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• 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: 5 units. estimate disagrees with records

Listing remarks MLS

Solid brick 3 sty featuring 4 1 bedroom apt conveniently located across the street from OSU East. Nicely renovated units fully appliance kitchen stackable w/ d large living room, decorative fireplaces, dining room, eat in kitchen hardwood floors updated to mech newer windows. Unfinished attic could be great addition to one of the upstairs units or the 5 unit. Off street parking, tenants pay gas and electric. This is a great investment.

Key facts

• 7,840 sq ft lot
• 4 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 5 × 4-bed/?-bath units multifamily listed at $500k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive. Per door: $722/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $500k).
• Recommended offer: $455k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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 fast (+5.0%/yr); 94 active listings in the ZIP; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $8,941/mo this rent would consume 226% of the median local household income ($48k/yr) (locally 859% 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 $15k 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 + 5.0% rent growth), your $140k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($455k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $454,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.79% ✓
• Cap rate: 14.96%
• Cash-on-cash: 30.94%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (median comp): $693,161
• List price: $499,900
• Delta: -27.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 2.20×
• Total profit: $167,600
• Equity at exit: $74,537

10-year hold

• IRR: 36.7%
• Equity multiple: 4.73×
• Total profit: $522,142
• Equity at exit: $43,222

Cash invested: $139,972 (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 43203

• Home prices YoY: -31.9%
• Rents YoY: 5.0%
• Active inventory: 94
• Price-to-rent: 23.3×

Monthly cashflow live

• Estimated rent: $8,941 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,498/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,878
• Net cashflow: $3,609

Break-even live

Break-even rent $4,373

Max offer price $499,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 5× units	4	—	$8,940
Total (5 units)			$8,941

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $499,900 Active 116 DOM
2. 2026-06-17
   days on market $499,900 Active 115 DOM
3. 2026-06-16
   days on market $499,900 Active 114 DOM
4. 2026-06-15
   days on market $499,900 Active 113 DOM
5. 2026-06-13
   days on market $499,900 Active 111 DOM
6. 2026-06-13
   days on market $499,900 Active 110 DOM
7. 2026-06-09
   days on market $499,900 Active 107 DOM
8. 2026-06-08
   days on market $499,900 Active 106 DOM
9. 2026-06-07
   days on market $499,900 Active 105 DOM
10. 2026-06-05
    days on market $499,900 Active 102 DOM
11. 2026-06-03
    days on market $499,900 Active 101 DOM
12. 2026-06-02
    days on market $499,900 Active 100 DOM
13. 2026-06-01
    days on market $499,900 Active 99 DOM
14. 2026-05-31
    days on market $499,900 Active 98 DOM
15. 2026-05-04
    price $529,900 439-char remark

    Show marketing remark (439 chars)

    Solid brick 3 sty featuring 4 1 bedroom apt conveniently located across the street from OSU East. Nicely renovated units fully appliance kitchen stackable w/ d large living room, decorative fireplaces, dining room, eat in kitchen hardwood floors updated to mech newer windows. Unfinished attic could be great addition to one of the upstairs units or the 5 unit. Off street parking, tenants pay gas and electric. This is a great investment.

16. 2026-03-11
    price $549,900 439-char remark

    Show marketing remark (439 chars)

    Solid brick 3 sty featuring 4 1 bedroom apt conveniently located across the street from OSU East. Nicely renovated units fully appliance kitchen stackable w/ d large living room, decorative fireplaces, dining room, eat in kitchen hardwood floors updated to mech newer windows. Unfinished attic could be great addition to one of the upstairs units or the 5 unit. Off street parking, tenants pay gas and electric. This is a great investment.

17. 2026-02-22
    listed $599,900 Active 439-char remark

    Show marketing remark (439 chars)

    Solid brick 3 sty featuring 4 1 bedroom apt conveniently located across the street from OSU East. Nicely renovated units fully appliance kitchen stackable w/ d large living room, decorative fireplaces, dining room, eat in kitchen hardwood floors updated to mech newer windows. Unfinished attic could be great addition to one of the upstairs units or the 5 unit. Off street parking, tenants pay gas and electric. This is a great investment.

18. 2026-02-20
    historical $599,900 439-char remark

    Show marketing remark (439 chars)

    Solid brick 3 sty featuring 4 1 bedroom apt conveniently located across the street from OSU East. Nicely renovated units fully appliance kitchen stackable w/ d large living room, decorative fireplaces, dining room, eat in kitchen hardwood floors updated to mech newer windows. Unfinished attic could be great addition to one of the upstairs units or the 5 unit. Off street parking, tenants pay gas and electric. This is a great investment.

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $107,292
• − Mortgage interest: −$28,002
• − Property taxes: −$7,498
• − Insurance: −$2,500
• − Repairs & maintenance: −$8,583
• − Management: −$8,583
• − Depreciation: −$14,543
• Taxable income: $37,583
• Est. tax owed @ 24.0%: −$9,020
• After-tax cash flow: $34,285/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 · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with cosmetic updates needed. Fresh paint and cleaning gutters would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and property value.
• Both Clean gutters — Clean gutters improve drainage and prevent water damage to the exterior of the home.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Clean gutters — Clean gutters improve drainage and prevent water damage to the exterior of the home. ↑

ⓘ 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): 8,618
• Household income: $47,572
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 859.0

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 0.56)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Lithuanian 1% Romanian 1% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 86% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 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: ▼ -102.09%
• Current HPI: 217.3929
• Rent YoY: ▲ 5.03%
• 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

-11.7% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $529,900 CBRMLS
• 2026-03-11 Price Changed $549,900 CBRMLS
• 2026-02-22 Listed $599,900 CBRMLS
• 2026-02-20 Coming Soon $599,900 CBRMLS