$215K gap between asking price and what the numbers support — 6-unit Multifamily

Ran an independent underwriting pass on a 6-unit multifamily listing in Parsons Ave, Columbus, OH — thought I'd share since the reconciliation issue is a good example of why I don't take listing NOI at face value.

Listed at $1.2M. Income minus expenses actually didn't equal the seller's stated NOI — a $4,845 gap with no explanation given. Two different listing platforms also showed two different asking prices for the same property.

Using the seller's own stated NOI and standard financing assumptions (70% LTV, 1.25x DSCR), the price that actually supports normal financing terms comes out to roughly $985K — about $215K below asking.

This is the kind of check I run before recommending an investor move on a deal. DM to share the full write-up if anyone wants to see the format.