Dana Avenue Triplex, North Avondale
Our story
In 2022, an appraisal on one of our North Avondale properties came in at $359,000. A licensed Ohio Certified General Appraiser reviewed the same property and valued it at $560,000 — a $201,000 gap on a single asset.
That gap wasn't a rounding error. It represented over $120,000 in stripped capital access at standard loan-to-value terms — capital that funds unit rehabs, expands our portfolio, and keeps CMHA/HCV housing stock in good repair.
Our History
We don't talk about this as a story of bias. We talk about it as a story of accuracy — because that's the framework that gets results. Appraisal errors are measurable: missed rental income, undercounted square footage, mismatched comparables. When you document the errors precisely, you build a case that appraisers, lenders, and regulators can't wave away.
That's the standard we hold every valuation to, on every property we own.
Recognition
Our case drew coverage from The New York Times, NPR, WCPO 9, InvestigateTV, and the Cincinnati Enquirer — not because it was unusual, but because it was provable. It's since become part of a broader conversation about appraisal accuracy nationally, including policy discussions grounded in FHFA guidance and long-standing paired-sales valuation methodology.
Why it Matters to Partners
Every property in our portfolio is held to the same standard we fought for: verified numbers, not assumed ones. Partners who work with Horton Visionary Properties get an operator who has already proven, publicly, that he checks the math.