460 S Richardson Ave · Columbus, OH 43204

$90,000

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 153 Days on market

Built 1921 4,356 sqft lot $87/sqft · 33% below area Est $133k · 33% 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 +15.3/30.0
• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. Great opportunity to rehab this property and make it your own. The interior has been cleaned out and a new roof installed. Due to the court approval process, this is not a quick close. The Receiver requests for in-state buyers only. * * SEE AGENT TO AGENT REMARKS * *

Key facts

• Rehab opportunity
• Interior cleaned out
• New roof installed

Tags

• REHAB OPPORTUNITY
• INTERIOR CLEANED OUT
• NEW ROOF INSTALLED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $33 ($397/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Briggs High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 980 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.5%/yr); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $622 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 153 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $90k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.28% ✓
• Cap rate: 6.73%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 6.5

CMA / ARV

• ARV (median comp): $133,371
• List price: $90,000
• Delta: -32.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 S Richardson Ave	0.16mi	2/1.0	1,004 (-3%)	2mo	$169,900	$169	87
686 S Burgess Ave	0.32mi	2/1.0	1,056 (+2%)	1mo	$82,500	$78	80
334 S Wayne Ave	0.26mi	3/1.0 (+1)	1,057 (+2%)	2mo	$188,500	$178	77
310 S Ogden Ave	0.26mi	3/1.5 (+1)	960 (-7%)	1mo	$200,000	$208	69
570 Wiltshire Rd	0.42mi	2/1.0	1,100 (+7%)	2mo	$190,000	$173	68
510 S Warren Ave	0.21mi	3/1.0 (+1)	1,144 (+11%)	2mo	$189,000	$165	66
299 Whitethorne Ave	0.62mi	2/1.0	959 (-7%)	2mo	$65,000	$68	58
151 S Eureka Ave	0.45mi	3/1.0 (+1)	936 (-9%)	1mo	$80,000	$85	57
229 S Richardson Ave	0.33mi	3/1.0 (+1)	1,168 (+13%)	1mo	$165,000	$141	57
724 S Ogden Ave	0.40mi	2/1.0	880 (-15%)	1mo	$175,000	$199	56
2712 Eakin Rd	0.54mi	3/2.0 (+1)	1,152 (+12%)	2mo	$233,500	$203	45
35 S Powell Ave	0.72mi	2/2.0	1,152 (+12%)	1mo	$210,000	$182	42

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 · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-10,543
• Equity at exit: $13,419

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $1,678
• Equity at exit: $7,782

Cash invested: $25,200 (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 43204

• Rents YoY: 4.5%
• Active inventory: 187
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,155 high
• Mortgage (P&I): −$472
• Tax from tax record: −$369 /mo · $4,434/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $33

Break-even live

Break-even rent $1,113

Max offer price $90,000

Occupancy floor 92%

Sensitivity live

Price	-10% $352	-5% $321	+0% $33	+5% $8	+10% $-18
Rent	-10% $-58	-5% $-12	+0% $33	+5% $79	+10% $124
Rate	-1.0pp $78	-0.5pp $56	base $33	+0.5pp $10	+1.0pp $-14

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	0d	1	0.10mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	12d	1	0.10mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	25d	1	0.14mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	0d	1	0.14mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	5d	1	0.15mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	21d	1	0.15mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	9d	1	0.17mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	25d	1	0.17mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	5d	1	0.20mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	5d	1	0.23mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	21d	1	0.25mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	5d	1	0.26mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	5d	1	0.26mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	45d	1	0.27mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	45d	1	0.32mi
406 1/2 S Hague Ave Columbus, OH	2.0	1.0	918	$765	$0.83	45d	1	0.32mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	45d	1	0.33mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	19d	1	0.34mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	23d	1	0.39mi
396 S Powell Ave Unit 396 Columbus, OH	2.0	1.0	1022	$925	$0.91	45d	1	0.39mi
390 S Powell Ave Columbus, OH	2.0	1.0	775	$1,025	$1.32	5d	1	0.39mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	21d	1	0.42mi
364 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$975	$0.97	45d	1	0.47mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	14d	1	0.48mi
2883-2889 Wicklow Rd Columbus, OH	2.0	1.0	1200	$1,099	$0.92	45d	1	0.48mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,150	$0.90	0d	1	0.49mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	45d	1	0.52mi
2205 Clarendon Ln Unit 2205 Columbus, OH	2.0	1.0	835	$995	$1.19	0d	1	0.52mi
2203 Clarendon Ln Unit 2203 Columbus, OH	2.0	1.0	835	$995	$1.19	0d	1	0.52mi
2174 Sullivant Ave Columbus, OH	1.0	1.0	800	$775	$0.97	45d	1	0.53mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	45d	1	0.54mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,300	$1.03	0d	1	0.56mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	45d	1	0.56mi
148 S Powell Ave Unit B Columbus, OH	2.0	1.0	900	$1,000	$1.11	9d	1	0.56mi
148 S Powell Ave Columbus, OH	2.0	1.0	900	$1,050	$1.17	45d	1	0.56mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	25d	1	0.59mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	25d	1	0.59mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	25d	1	0.60mi
839-841 S Ogden Ave Columbus, OH	2.0	1.0	727	$1,000	$1.38	4d	1	0.60mi
839-841 S Ogden Ave Columbus, OH	2.0	1.0	727	$1,000	$1.38	0d	1	0.60mi

Listing history 31 events

1. 2026-06-21
   days on market $90,000 Active 153 DOM
2. 2026-06-18
   days on market $90,000 Active 150 DOM
3. 2026-06-17
   days on market $90,000 Active 149 DOM
4. 2026-06-16
   days on market $90,000 Active 148 DOM
5. 2026-06-15
   days on market $90,000 Active 147 DOM
6. 2026-06-13
   days on market $90,000 Active 145 DOM
7. 2026-06-13
   pricedays on market $90,000 Active 144 DOM
8. 2026-06-09
   days on market $93,000 Active 141 DOM
9. 2026-06-08
   days on market $93,000 Active 140 DOM
10. 2026-06-07
    days on market $93,000 Active 139 DOM
11. 2026-06-05
    days on market $93,000 Active 136 DOM
12. 2026-06-03
    days on market $93,000 Active 135 DOM
13. 2026-06-02
    days on market $93,000 Active 134 DOM
14. 2026-06-01
    days on market $93,000 Active 133 DOM
15. 2026-05-31
    days on market $93,000 Active 132 DOM
16. 2026-03-27
    price $93,000 371-char remark

    Show marketing remark (371 chars)

    THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. Great opportunity to rehab this property and make it your own. The interior has been cleaned out and a new roof installed. Due to the court approval process, this is not a quick close. The Receiver requests for in-state buyers only. * * SEE AGENT TO AGENT REMARKS * *

17. 2026-03-04
    price $95,000 371-char remark

    Show marketing remark (371 chars)

    THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. Great opportunity to rehab this property and make it your own. The interior has been cleaned out and a new roof installed. Due to the court approval process, this is not a quick close. The Receiver requests for in-state buyers only. * * SEE AGENT TO AGENT REMARKS * *

18. 2026-02-06
    price $100,000 371-char remark

    Show marketing remark (371 chars)

    THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. Great opportunity to rehab this property and make it your own. The interior has been cleaned out and a new roof installed. Due to the court approval process, this is not a quick close. The Receiver requests for in-state buyers only. * * SEE AGENT TO AGENT REMARKS * *

19. 2026-01-19
    listed $120,000 Active 371-char remark

    Show marketing remark (371 chars)

    THE REALTOR IS THE RECEIVER APPOINTED BY THE FRANKLIN COUNTY MUNICIPAL COURT, ENVIRONMENTAL DIVISION. Great opportunity to rehab this property and make it your own. The interior has been cleaned out and a new roof installed. Due to the court approval process, this is not a quick close. The Receiver requests for in-state buyers only. * * SEE AGENT TO AGENT REMARKS * *

20. 2024-07-10
    status Pending
21. 2024-07-02
    listed $24,654
22. 2024-07-02
    historical
23. 2024-07-02
    historical
24. 2012-07-13
    soldstatus $29,900
25. 2012-06-28
    soldstatus $29,900
26. 2012-03-06
    historical
27. 2011-01-15
    listed $29,900
28. 2011-01-14
    historical
29. 2010-10-08
    listed $30,900
30. 2010-09-09
    historical
31. 2010-04-08
    listed $29,900

ⓘ 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: $4,434 · $369/mo
• Projected year-2 tax: $4,434 · $369/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,854
• − Mortgage interest: −$5,041
• − Property taxes: −$4,434
• − Insurance: −$450
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$2,618
• Taxable loss: −$906
• Est. tax savings @ 24.0%: +$217
• After-tax cash flow: $615/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): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2290.0

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: White 61% Hispanic / Latino 16% Black 13% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 81% English-only · Spanish 13% Arabic 2% Other Asian/Pacific 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: ▼ -220.67%
• Current HPI: 265.7711
• Rent YoY: ▲ 4.49%
• 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

+211.0% since first listed

16 events — show timeline

• 2026-03-27 Price Changed $93,000 CBRMLS
• 2026-03-04 Price Changed $95,000 CBRMLS
• 2026-02-06 Price Changed $100,000 CBRMLS
• 2026-01-19 Listed $120,000 CBRMLS
• 2024-07-10 Pending — CBRMLS
• 2024-07-02 Listing Removed — CBRMLS
• 2024-07-02 Listing Removed — CBRMLS
• 2024-07-02 Listed $24,654 CBRMLS
• 2012-07-13 Sold (Public Records) $29,900 Public Records
• 2012-06-28 Sold (MLS) $29,900 CBRMLS
• 2012-03-06 Listing Removed — CBRMLS
• 2011-01-15 Listed $29,900 CBRMLS
• 2011-01-14 Listing Removed — CBRMLS
• 2010-10-08 Listed $30,900 CBRMLS
• 2010-09-09 Listing Removed — CBRMLS
• 2010-04-08 Listed $29,900 CBRMLS

Property tax history

+18.7%/yr

Latest (2024): $4,434 · +25.2% YoY. Source: county tax records.