4087 Forest Edge Dr · Columbus, OH 43230

$179,900

3 bd · 1.5 ba · 1,204 sqft · MultiFamily public records · 2 Days on market

Built 1983 4,356 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
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 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 MLS

WONDERFUL TWO-STORY TWIN SINGLE LOCATED IN THE BEAUTIFUL STRAWBERRY FARMSAREA. UPDATED WINDOWS-FINISHED BASEMENT, NEUTRAL COLORS. NICE OLDER GROWTHPARTLY WOODED LOT. SETTING IN A QUIET NEIGHBORHOOD. THIS MUST SEE, WON'TBE AROUND LONG!

Key facts

• 4,356 sq ft lot
• Garage
• Built 1983

Property features AI

Exterior

• Parking: Attached garage (1 garage space); On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (duplex structure); Three levels; Built in 1983; One common wall
• Construction: Block foundation
• Exterior features: Deck; Fenced yard

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom (total 1.5 bathrooms)
• Interior features: Full basement; Living area approximately 1,204

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Cap rate 15.7% 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.
• Westerville City (suburban): math 54% / reading 63% proficiency, ranked #276 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hawthorne Elementary School (math 53% / reading 58%, grade C, #772 of 1,584 statewide, top 49%, 543 students, 59% FRL); Heritage Middle School (math 48% / reading 55%, grade C, #401 of 654 statewide, top 62%, 858 students, 48% FRL); Westerville-North High School (math 34% / reading 64%, grade D, #422 of 781 statewide, top 54%, 1,524 students, 28% FRL) — zoned schools average 45% FRL vs 27% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 103 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 44% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 3.9% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $82k; list at $180k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $179,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.87% ✓
• Cap rate: 15.69%
• Cash-on-cash: 33.57%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 2.26×
• Total profit: $63,698
• Equity at exit: $26,824

10-year hold

• IRR: 37.7%
• Equity multiple: 4.65×
• Total profit: $183,956
• Equity at exit: $15,554

Cash invested: $50,372 (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 43230

• Rents YoY: 3.9%
• Active inventory: 103
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,363 high
• Mortgage (P&I): −$943
• Tax from tax record: −$229 /mo · $2,749/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $1,409

Break-even live

Break-even rent $1,579

Max offer price $179,900

Occupancy floor 53%

Sensitivity live

Price	-10% $1,511	-5% $1,460	+0% $1,409	+5% $1,358	+10% $1,307
Rent	-10% $1,144	-5% $1,276	+0% $1,409	+5% $1,542	+10% $1,675
Rate	-1.0pp $1,500	-0.5pp $1,455	base $1,409	+0.5pp $1,363	+1.0pp $1,315

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,364
Total (2 units)			$3,363

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5398 Rockingham Ct Westerville, OH	2.0	1.0	1100	$1,400	$1.27	12d	5	0.28mi
5390 Harbin Pl Unit 5452 Westerville, OH	2.0	1.0	900	$900	$1.00	25d	1	0.31mi
5390 Harbin Pl Unit 5438 Westerville, OH	2.0	1.0	900	$900	$1.00	14d	1	0.31mi
5424 Rockingham Ct Unit RO 5424 Westerville, OH	2.0	1.0	1100	$1,400	$1.27	14d	1	0.31mi
5422 Woodvale Ct Unit WD 5422 Westerville, OH	2.0	1.0	1100	$1,500	$1.36	18d	1	0.32mi
5429 Harbin Ct Unit HA 5429 Westerville, OH	2.0	1.0	1100	$1,300	$1.18	18d	1	0.33mi
5473 W Woodvale Ct Unit WDW 5473 Westerville, OH	2.0	1.0	1100	$1,550	$1.41	18d	1	0.37mi
3692 N Woodvale Ct Unit Wdn Westerville, OH	2.0	1.0	1100	$1,500	$1.36	16d	1	0.40mi
5500 Hildebrand Rd Columbus, OH	1.0–3.0	1.0–2.0	917	$1,890	$2.06	45d	1	0.71mi
4600 Sunbury Springs Pkwy Columbus, OH	1.0–2.0	1.0–2.0	819	$1,520	$1.86	45d	1	0.83mi
3830 Hampton Woods Dr Columbus, OH	2.0	1.0	576	$1,000	$1.74	45d	1	0.93mi
5050 Westerville Rd Columbus, OH	1.0–2.0	1.0–2.0	1230	$1,965	$1.60	3d	12	0.95mi
5695 Cherry Bottom Rd Columbus, OH	1.0–2.0	1.0–2.0	819	$1,509	$1.84	3d	11	1.05mi
3311 Kristin Ct Unit 3311 Columbus, OH	3.0	1.5	1100	$1,450	$1.32	45d	1	1.06mi
5415 Turtle Sta Westerville, OH	2.0–3.0	2.0–2.5	1600	$2,425	$1.52	3d	33	1.15mi
4150 Silver Springs Ln Columbus, OH	1.0–3.0	1.0–2.5	1104	$2,270	$2.06	3d	46	1.19mi
4934 Allwood Dr Columbus, OH	3.0	2.0	1207	$2,505	$2.08	5d	1	1.20mi
3553 Triton Ct Westerville, OH	3.0	2.0	1188	$2,600	$2.19	45d	1	1.23mi
3553 Triton Ct Westerville, OH	3.0	2.0	1200	$2,600	$2.17	3d	1	1.23mi
4483 Wingfield St Columbus, OH	3.0	2.0	1310	$2,500	$1.91	45d	1	1.38mi
942 S Spring Rd Westerville, OH	2.0	1.5	1100	$1,295	$1.18	3d	1	1.48mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $179,900 Active 2 DOM
2. 2026-06-03
   days on market $179,900 Coming Soon 7 DOM
3. 2026-06-02
   days on market $179,900 Coming Soon 6 DOM
4. 2026-06-01
   days on market $179,900 Coming Soon 5 DOM
5. 2026-05-31
   days on market $179,900 Coming Soon 4 DOM
6. 2026-05-28
   historical $179,900
7. 1999-09-02
   soldstatus $82,000
8. 1999-08-31
   soldstatus $82,000 234-char remark

   Show marketing remark (234 chars)

   WONDERFUL TWO-STORY TWIN SINGLE LOCATED IN THE BEAUTIFUL STRAWBERRY FARMSAREA. UPDATED WINDOWS-FINISHED BASEMENT, NEUTRAL COLORS. NICE OLDER GROWTHPARTLY WOODED LOT. SETTING IN A QUIET NEIGHBORHOOD. THIS MUST SEE, WON'TBE AROUND LONG!

9. 1999-08-15
   historical 234-char remark

   Show marketing remark (234 chars)

   WONDERFUL TWO-STORY TWIN SINGLE LOCATED IN THE BEAUTIFUL STRAWBERRY FARMSAREA. UPDATED WINDOWS-FINISHED BASEMENT, NEUTRAL COLORS. NICE OLDER GROWTHPARTLY WOODED LOT. SETTING IN A QUIET NEIGHBORHOOD. THIS MUST SEE, WON'TBE AROUND LONG!

10. 1999-06-23
    listed $84,000 234-char remark

    Show marketing remark (234 chars)

    WONDERFUL TWO-STORY TWIN SINGLE LOCATED IN THE BEAUTIFUL STRAWBERRY FARMSAREA. UPDATED WINDOWS-FINISHED BASEMENT, NEUTRAL COLORS. NICE OLDER GROWTHPARTLY WOODED LOT. SETTING IN A QUIET NEIGHBORHOOD. THIS MUST SEE, WON'TBE AROUND LONG!

11. 1984-02-01
    soldstatus $57,400

ⓘ 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: $2,749 · $229/mo
• Projected year-2 tax: $2,778 · $231/mo
• Expected delta: +$29/yr (+$2/mo · 1.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $40,356
• − Mortgage interest: −$10,077
• − Property taxes: −$2,749
• − Insurance: −$900
• − Repairs & maintenance: −$3,228
• − Management: −$3,228
• − Depreciation: −$5,233
• Taxable income: $14,940
• Est. tax owed @ 24.0%: −$3,585
• After-tax cash flow: $13,326/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: Westerville City
• NCES district ID: 3904504
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $72,017
• Composite: 51.9/100
• National rank: #1649
• State rank: #276 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): 58,076
• Household income: $91,424
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1879.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 19% Two or more races 6% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% 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: ▼ -254.58%
• Current HPI: 257.0667
• Rent YoY: ▲ 3.89%
• 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

+213.4% since first listed

6 events — show timeline

• 2026-05-28 Coming Soon $179,900 CBRMLS
• 1999-09-02 Sold (Public Records) $82,000 Public Records
• 1999-08-31 Sold (MLS) $82,000 CBRMLS
• 1999-08-15 Listing Removed — CBRMLS
• 1999-06-23 Listed $84,000 CBRMLS
• 1984-02-01 Sold (Public Records) $57,400 Public Records

Property tax history

+3.4%/yr

Latest (2024): $2,749 · +2.5% YoY. Source: county tax records.