72 Winner Ave #70 · Columbus, OH 43203

$425,000

6 bd · 2.0 ba · 3,588 sqft · MultiFamily public records · 112 Days on market

Built 1900 9,147 sqft lot $118/sqft · 16% below area Est $506k · 16% under

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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).

• ARV discount +14.7/15.0
• Cash flow +10.8/30.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This is an unbelievable property with incredible potential for the very experienced investor/ buyer with vision and understanding of the remodeling process. This is a full remodel from top to bottom. Priced far below market value with a market potential of $1,200,000.00 to $1,600,000.00 based on final finishes.

Key facts

• 9,147 sq ft lot
• Built 1900
• Listed 111 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $391k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (31.2% below list).
• Recommended offer: $292k (31.2% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Market conditions: Rents rising fast (+5.0%/yr); 95 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,924/mo this rent would consume 74% 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 $13k 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 112 days — a 9% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $425k implies a 554% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $292,432 (31.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.69% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 12.1

CMA / ARV

• ARV (median comp): $505,517
• List price: $425,000
• Delta: -15.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1504 Mt Vernon Ave	0.49mi	6/—	3,452 (-4%)	12mo	$225,000	$65	61
185 N 20th St	0.43mi	6/—	3,348 (-7%)	14mo	$385,000	$115	58
285 S Champion Ave	0.59mi	6/—	3,910 (+9%)	5mo	$410,000	$105	53
222 Woodland Ave #224	0.56mi	6/—	3,637 (+1%)	22mo	$625,000	$172	53
865 Oak St #863	0.70mi	6/—	3,250 (-9%)	2mo	$430,000	$132	50
97 N Twenty Second St	0.30mi	6/—	3,150 (-12%)	20mo	$420,000	$133	49
1544-1546 Granville St	0.47mi	6/—	3,174 (-12%)	16mo	$235,000	$74	46
1610 Emerald Ave	0.71mi	6/—	3,150 (-12%)	11mo	$430,000	$137	37
991 Bryden Rd	0.65mi	7/— (+1)	4,114 (+15%)	7mo	$535,000	$130	35

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.37×
• Total profit: $-75,267
• Equity at exit: $63,369

10-year hold

• IRR: -6.9%
• Equity multiple: 0.53×
• Total profit: $-56,179
• Equity at exit: $36,746

Cash invested: $119,000 (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: 95
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,924 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $-193

Break-even live

Break-even rent $3,168

Max offer price $390,969

Occupancy floor —

Sensitivity live

Price	-10% $48	-5% $-72	+0% $-193	+5% $-313	+10% $-433
Rent	-10% $-424	-5% $-308	+0% $-193	+5% $-77	+10% $38
Rate	-1.0pp $21	-0.5pp $-85	base $-193	+0.5pp $-303	+1.0pp $-415

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1445 E Broad St Columbus, OH	1.0–5.0	1.0–5.0	2164	$3,500	$1.62	2d	4	0.25mi
78 Auburn Ave Columbus, OH	5.0	3.5	2799	$3,950	$1.41	2d	1	0.34mi

Listing history 19 events

1. 2026-06-21
   days on market $425,000 Active 112 DOM
2. 2026-06-18
   days on market $425,000 Active 109 DOM
3. 2026-06-17
   days on market $425,000 Active 108 DOM
4. 2026-06-16
   days on market $425,000 Active 107 DOM
5. 2026-06-15
   days on market $425,000 Active 106 DOM
6. 2026-06-13
   days on market $425,000 Active 104 DOM
7. 2026-06-13
   days on market $425,000 Active 103 DOM
8. 2026-06-09
   days on market $425,000 Active 100 DOM
9. 2026-06-08
   days on market $425,000 Active 99 DOM
10. 2026-06-07
    days on market $425,000 Active 98 DOM
11. 2026-06-05
    days on market $425,000 Active 95 DOM
12. 2026-06-03
    days on market $425,000 Active 94 DOM
13. 2026-06-02
    days on market $425,000 Active 93 DOM
14. 2026-06-01
    days on market $425,000 Active 92 DOM
15. 2026-05-31
    days on market $425,000 Active 91 DOM
16. 2026-03-01
    listed $425,000 Active 312-char remark

    Show marketing remark (312 chars)

    This is an unbelievable property with incredible potential for the very experienced investor/ buyer with vision and understanding of the remodeling process. This is a full remodel from top to bottom. Priced far below market value with a market potential of $1,200,000.00 to $1,600,000.00 based on final finishes.

17. 2025-07-01
    historical
18. 2024-12-29
    listed $525,900 Active
19. 2002-09-23
    soldstatus $65,000

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $3,897 · $325/mo
• Expected delta: +$2,733/yr (+$228/mo · 234.7%)

ⓘ 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: $35,092
• − Mortgage interest: −$23,807
• − Property taxes: −$1,164
• − Insurance: −$2,125
• − Repairs & maintenance: −$2,807
• − Management: −$2,807
• − Depreciation: −$12,364
• Taxable loss: −$9,982
• Est. tax savings @ 24.0%: +$2,396
• After-tax cash flow: $84/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): 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

+553.8% since first listed

4 events — show timeline

• 2026-03-01 Listed $425,000 CBRMLS
• 2025-07-01 Listing Removed — CBRMLS
• 2024-12-29 Listed $525,900 CBRMLS
• 2002-09-23 Sold (Public Records) $65,000 Public Records

Property tax history

-1.9%/yr

Latest (2024): $1,164 · +10.0% YoY. Source: county tax records.