280 Reeb Avenue, Columbus, OH, USA
Excellent
90/100This is an excellent deal — priced below the local market with healthy equity after repairs. Watch that the neighborhood scores low.
- 49% below area price per sqft
- $216k potential equity (59%)
- $666/mo positive cash flow
- 6.9% cap rate
- Neighborhood scores 62/100
Price vs. Market
ARV Assessment
Based on 5 recent sales within 0.5 miles, comparable condo homes of similar size traded between $358k and $449k. The subject's 1,754 sqft and 3bd/2ba layout supports a midpoint estimate of $416k.
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Property presents in full gut condition. Estimated rehab of $7k covers structural, mechanical, and full interior.
Sales-comparison approach weighted by recency, proximity, and price-per-sqft, adjusted for condition and lot. Confidence: high.
Rental Income
The Columbus rental market shows strong demand. Median area rent is $1,115/mo with a 10% vacancy rate.
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Comparable 3bd units nearby rent for $1,920–$2,300. At $2,090/mo the gross yield is 12.54% of the purchase price.
Rent estimated from active and leased comps adjusted for size, condition, and submarket trends.
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