5842 Red Apple Ridge Rd · Columbus, OH 43232

$109,900

2 bd · 1.0 ba · 864 sqft · Condo public records · 59 Days on market

Built 1980 $188/mo HOA · 15% of rent

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Why this score? — see what drove the D+ 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 +15.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• DSCR +4.9/10.0
• 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 MLS

Appleway East is a quiet community you would love to call home. Completely re-done, move-in ready ranch condo with upgraded interior, new appliances, and private patio. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care.

Key facts

• Move-in ready
• Private patio
• New appliances

Tags

• MOVE-IN READY
• PRIVATE PATIO
• UPGRADED INTERIOR
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $52 ($619/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+2.4%/yr); 89 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $760 of loan paydown is wiped out by about $3k 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 59 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.
• Current owner paid $65k; list at $110k implies a 69% gain — meaningful room to come down on a strong offer.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.36% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.51×
• Total profit: $-15,192
• Equity at exit: $16,386

10-year hold

• IRR: -6.1%
• Equity multiple: 0.62×
• Total profit: $-11,709
• Equity at exit: $9,502

Cash invested: $30,772 (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 43232

• Rents YoY: 2.4%
• Active inventory: 89
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$576
• Tax from tax record: −$111 /mo · $1,333/yr
• Insurance: −$46
• HOA: −$188
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $52

Break-even live

Break-even rent $1,166

Max offer price $109,900

Occupancy floor 91%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1736 Sun Apple Way Unit 1736 Columbus, OH	2.0	1.0	800	$1,100	$1.38	15d	1	0.07mi
5596 Autumn Chase Dr Columbus, OH	1.0	1.0	750	$1,200	$1.60	44d	11	0.17mi
1699 Lonsdale Rd Unit 1707 Columbus, OH	2.0	1.0	1038	$995	$0.96	23d	1	0.40mi
1289b Yorkland Rd Columbus, OH	2.0	1.0–1.5	933	$1,450	$1.55	2d	5	0.58mi
1843 Fleming Rd Unit 1 Columbus, OH	3.0	1.5	1000	$1,595	$1.59	23d	1	0.61mi
5623-5625 Chatford Dr Unit 5623 Columbus, OH	2.0	1.5	1010	$1,085	$1.07	17d	1	0.67mi
5623-5625 Chatford Dr Columbus, OH	2.0	1.5	1010	$1,085	$1.07	17d	1	0.68mi
5685 Chatford Dr Columbus, OH	1.0	1.0	580	$950	$1.64	44d	4	0.68mi
5680 Hibernia Dr Columbus, OH	1.0–2.0	1.0–1.5	1045	$1,343	$1.29	2d	12	0.69mi
5951 Parliament Dr Columbus, OH	2.0	1.5	1033	$1,625	$1.57	3d	4	0.87mi
5125 Cedar Dr Columbus, OH	1.0–2.0	1.0	772	$1,110	$1.44	7d	4	0.93mi
5312 Gatehouse Dr Columbus, OH	1.0–2.0	1.0–1.5	1171	$1,499	$1.28	2d	15	1.08mi
2048 Pine Needle Ct Columbus, OH	1.0	1.0	432	$900	$2.08	3d	2	1.09mi
2038 Noe Bixby Rd Columbus, OH	2.0	1.0	1000	$1,365	$1.36	3d	1	1.12mi
4927 Myers Rd Columbus, OH	1.0	1.0	709	$799	$1.13	44d	1	1.12mi
2005 Noe Bixby Rd Columbus, OH	1.0	1.0	609	$840	$1.38	44d	1	1.17mi
2680 Silver Oak Dr Columbus, OH	1.0–2.0	1.0–2.0	965	$1,549	$1.60	2d	21	1.21mi
1161 Woodwind Dr Unit 1197 Reynoldsburg, OH	2.0	1.5	950	$1,250	$1.32	44d	1	1.23mi
2011 Baldwin Rd Reynoldsburg, OH	2.0	1.5	1024	$1,147	$1.12	44d	1	1.33mi
6425 Carriage Ln Reynoldsburg, OH	3.0	1.5	1000	$1,850	$1.85	44d	1	1.37mi
6592 Steinway Dr Reynoldsburg, OH	1.0–3.0	1.0–2.0	950	$1,195	$1.26	2d	7	1.40mi

HOA detail condo

• Monthly dues: $188 · $2,256/yr
• Likely covers: watersewertrashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-05
   days on market $109,900 Active 59 DOM
2. 2026-06-03
   days on market $109,900 Active 58 DOM
3. 2026-06-02
   days on market $109,900 Active 57 DOM
4. 2026-06-01
   days on market $109,900 Active 56 DOM
5. 2026-05-31
   days on market $109,900 Active 55 DOM
6. 2026-04-22
   price $109,900 280-char remark

   Show marketing remark (280 chars)

   Appleway East is a quiet community you would love to call home. Completely re-done, move-in ready ranch condo with upgraded interior, new appliances, and private patio. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care.

7. 2026-04-06
   status Active 280-char remark

   Show marketing remark (280 chars)

   Appleway East is a quiet community you would love to call home. Completely re-done, move-in ready ranch condo with upgraded interior, new appliances, and private patio. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care.

8. 2026-03-20
   historical 280-char remark

   Show marketing remark (280 chars)

   Appleway East is a quiet community you would love to call home. Completely re-done, move-in ready ranch condo with upgraded interior, new appliances, and private patio. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care.

9. 2026-03-20
   listed $114,900 Active 280-char remark

   Show marketing remark (280 chars)

   Appleway East is a quiet community you would love to call home. Completely re-done, move-in ready ranch condo with upgraded interior, new appliances, and private patio. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care.

10. 2021-07-21
    soldstatus $65,000
11. 2021-06-29
    soldstatus $65,000 Closed 629-char remark

    Show marketing remark (629 chars)

    Don't miss this one! This Ranch Condo has many possibilities to make it your own. The home features an upgraded kitchen with increased counter and cabinet space, 2 good sized bedrooms, a full bath, and a large laundry room. New roof in 2018. All appliances remain with the unit. The Condo is an end unit with a large private patio and wooded view. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care. Location with easy access to highways and within walking distance to York Middle School. Property is being sold ''AS IS/WHERE IS'', the seller will not make any repairs.

12. 2021-06-18
    status Pending 629-char remark

    Show marketing remark (629 chars)

    Don't miss this one! This Ranch Condo has many possibilities to make it your own. The home features an upgraded kitchen with increased counter and cabinet space, 2 good sized bedrooms, a full bath, and a large laundry room. New roof in 2018. All appliances remain with the unit. The Condo is an end unit with a large private patio and wooded view. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care. Location with easy access to highways and within walking distance to York Middle School. Property is being sold ''AS IS/WHERE IS'', the seller will not make any repairs.

13. 2021-06-17
    status Active 629-char remark

    Show marketing remark (629 chars)

    Don't miss this one! This Ranch Condo has many possibilities to make it your own. The home features an upgraded kitchen with increased counter and cabinet space, 2 good sized bedrooms, a full bath, and a large laundry room. New roof in 2018. All appliances remain with the unit. The Condo is an end unit with a large private patio and wooded view. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care. Location with easy access to highways and within walking distance to York Middle School. Property is being sold ''AS IS/WHERE IS'', the seller will not make any repairs.

14. 2021-05-03
    historical Contingent Finance and Inspection 629-char remark

    Show marketing remark (629 chars)

    Don't miss this one! This Ranch Condo has many possibilities to make it your own. The home features an upgraded kitchen with increased counter and cabinet space, 2 good sized bedrooms, a full bath, and a large laundry room. New roof in 2018. All appliances remain with the unit. The Condo is an end unit with a large private patio and wooded view. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care. Location with easy access to highways and within walking distance to York Middle School. Property is being sold ''AS IS/WHERE IS'', the seller will not make any repairs.

15. 2021-04-28
    listed $65,000 Active 629-char remark

    Show marketing remark (629 chars)

    Don't miss this one! This Ranch Condo has many possibilities to make it your own. The home features an upgraded kitchen with increased counter and cabinet space, 2 good sized bedrooms, a full bath, and a large laundry room. New roof in 2018. All appliances remain with the unit. The Condo is an end unit with a large private patio and wooded view. Condo fee includes common area, trash, snow removal, water/sewer, exterior building maintenance, and lawn care. Location with easy access to highways and within walking distance to York Middle School. Property is being sold ''AS IS/WHERE IS'', the seller will not make any repairs.

16. 1986-09-03
    soldstatus $38,900

ⓘ 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: $1,333 · $111/mo
• Projected year-2 tax: $1,524 · $127/mo
• Expected delta: +$191/yr (+$16/mo · 14.3%)

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,777
• − Mortgage interest: −$6,156
• − Property taxes: −$1,333
• − Insurance: −$550
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − HOA: −$2,256
• − Depreciation: −$3,197
• Taxable loss: −$1,079
• Est. tax savings @ 24.0%: +$259
• After-tax cash flow: $878/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): 47,364
• Household income: $51,417
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2584.0

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 0.58)
• Race & ethnicity: Black 58% White 26% Hispanic / Latino 8% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Swiss 1% Slovak 1% Italian 1%
• Foreign-born: 13% · Canada, China
• Languages at home: 86% English-only · Spanish 6% 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: ▼ -203.49%
• Current HPI: 249.3708
• Rent YoY: ▲ 2.36%
• 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

+182.5% since first listed

11 events — show timeline

• 2026-04-22 Price Changed $109,900 CBRMLS
• 2026-04-06 Relisted — CBRMLS
• 2026-03-20 Listed $114,900 CBRMLS
• 2026-03-20 Listing Removed — CBRMLS
• 2021-07-21 Sold (Public Records) $65,000 Public Records
• 2021-06-29 Sold (MLS) $65,000 CBRMLS
• 2021-06-18 Pending — CBRMLS
• 2021-06-17 Relisted — CBRMLS
• 2021-05-03 Contingent — CBRMLS
• 2021-04-28 Listed $65,000 CBRMLS
• 1986-09-03 Sold (Public Records) $38,900 Public Records

Property tax history

+24.4%/yr

Latest (2024): $1,333 · +16.8% YoY. Source: county tax records.