$425,000
$20K PRICE DROP

Estimated payment $2,449/month

Total Views 24,897
-- Beds
-- Baths
1,854 Sq Ft
$229 Price per Sq Ft

About This Home

488 N Jay is a fully occupied four-unit building offered together with the adjacent 490 N Jay as an eight-unit package. The buildings are being sold as one transaction and will not be divided. All four units are leased, producing $3,700 per month / $44,400 annually in gross scheduled rent. Combined with 490 N Jay, the package produces $85,800 annually with a net operating income of $73,920 on current actuals. Owner-paid expenses across both buildings total $11,880 and are limited to insurance, taxes, landscaping, lawn treatment, trash, and repairs. Tenants pay all utilities except trash, which is served by a shared dumpster covering both properties. Expense figures do not include vacancy, management, capital reserves, or debt service. Unit 3 has been renovated and leases at $1,100 per month. The remaining units here rent at $850 and $900, giving a buyer an in-building comparable for the renovated rent level rather than a market assumption. Leases across both buildings expire on a staggered basis between August and October 2026. Please do not disturb tenants. Showings by appointment with proper notice to residents. Full rent roll, leases, and expense documentation available to qualified buyers on request. Buyer and buyer's agent to verify all information, including income and expenses, square footage, zoning and permitted use, unit count, registration or licensing requirements, and property condition. Any reference to potential rent levels is illustrative only and is not a projection of future performance; rent adjustments are subject to existing lease terms, required notice, and applicable law. Information obtained from sources deemed reliable but not guaranteed by broker or seller.

Listing Agent

Andrew Wade

Roby Realty License #2016002338 Listed on: 08/04/2026

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,385

Year Built

  • Built in 1963

Lot Details

  • 12,632 Sq Ft Lot

Home Design

  • 1,854 Sq Ft Home
  • Brick or Stone Mason
  • Vinyl Siding

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas

Listing and Financial Details

  • The owner pays for trash collection
  • Assessor Parcel Number L39011630

Community Details

Overview

  • 4 Units

Building Details

  • Operating Expense $5,940
  • Gross Income $42,000
  • Net Operating Income $36,060

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,385

Year Built

Built in 1963

Lot Details

0.29 Acres

Listing Details

  • Type: Multi-Family
  • Year Built: 1963
  • Tax Year: 2024
  • Property Sub-Type: Townhouse
  • Lot Size Acres: 0.29
  • Total Gross Income: 42000.0
  • Co List Office Phone: 614-791-0050
  • MLS Status: Active
  • Location Property Info List PriceSqFt: 229.23
  • Remarks Misc Hot Sheet Comments: price
  • General Property Info Building Sq Ft: 1854.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Type: Block, Brick, Vinyl Siding

Garage/Parking

  • Parking Features:Parking Features: 1 Off Street

Utilities

  • Sewer: Public Sewer
  • Heating: Forced Air
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Utilities: Electricity Available, Natural Gas Available, Sewer Available, Storm Sewer, Water Available
  • Water Source: Public
  • Heat Fuel: Gas

Schools

  • Junior High Dist: MILTON UNION EVSD 5505 MIA CO.

Lot Info

  • Parcel Number: L39011630
  • Lot Size Sq Ft: 12632.4

Rental Info

  • Owner Pays: Trash Collection
  • Tenant Pays: Electricity, Gas, Sewer, Water

Multi Family

  • Number Of Units Total: 4
  • Net Operating Income: 36060.0
  • Annual Operating Expense: 5940.0

Tax Info

  • Tax Annual Amount: 1385.0

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,499 $28,140 $10,780 $17,360
2024 $1,499 $21,600 $8,960 $12,640
2023 $1,385 $21,600 $8,960 $12,640
2022 $1,381 $21,600 $8,960 $12,640
2021 $1,405 $21,600 $8,960 $12,640
2020 $1,403 $21,600 $8,960 $12,640
2019 $1,454 $21,600 $8,960 $12,640
2018 $1,986 $30,730 $8,960 $21,770
2017 $1,992 $30,730 $8,960 $21,770
2016 $1,947 $30,730 $8,960 $21,770
2015 $1,911 $30,730 $8,960 $21,770
2014 $1,911 $30,730 $8,960 $21,770
2013 $1,879 $30,730 $8,960 $21,770
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
08/04/2026 08/04/26 For Sale $425,000 0.0% $229 / Sq Ft
06/06/2026 06/06/26 Off Market $425,000 -- --
10/23/2025 10/23/25 Price Changed $425,000 -4.5% $229 / Sq Ft
06/18/2025 06/18/25 For Sale $445,000 -- $240 / Sq Ft
Source: Columbus and Central Ohio Regional MLS

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Type Sale Price Title Company
Warranty Deed $227,000 None Listed On Document
Deed -- --
Deed $116,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Loan Amount Loan Type
Closed $431,300 New Conventional
Source: Public Records

Source: Columbus and Central Ohio Regional MLS

MLS Number: 225022141

Columbus and Central Ohio Regional MLS

APN: L39-011630

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