Reference

Romans 5:12-21

1. Original sin is inherited by all in Adam.

Romans 5:12 (NASB), “Therefore, just as through one man sin entered into the world, and death through sin, and so death spread to all mankind, because all sinned— 13 for until the Law sin was in the world, but sin is not counted against anyone when there is no law. 14 Nevertheless death reigned from Adam until Moses, even over those who had not sinned in the likeness of the violation committed by Adam, who is a type of Him who was to come.” 

2. Original righteousness is gifted by faith in Christ.

Romans 5:15 (NASB), “But the gracious gift is not like the offense. For if by the offense of the one the many died, much more did the grace of God and the gift by the grace of the one Man, Jesus Christ, overflow to the many. 16 The gift is not like that which came through the one who sinned; for on the one hand the judgment arose from one offense, resulting in condemnation, but on the other hand the gracious gift arose from many offenses, resulting in justification. 17 For if by the offense of the one, death reigned through the one, much more will those who receive the abundance of grace and of the gift of righteousness reign in life through the One, Jesus Christ.”
The Doctrine of Original Sin by Ulrich Zwingli (1484-1531)    
Original sin, as it is in the children of Adam, ... is, therefore, properly a disease and condition—a disease, because just as he fell through self-love, so do we also; a condition, because just as he became a slave and liable to death, so also are we both slaves and children of wrath … and liable to death. 

3. God’s grace is greater than all our sin.  

Romans 5:18 (NASB), “So then, as through one offense the result was condemnation to all mankind, so also through one act of righteousness the result was justification of life to all mankind. 19 For as through the one man’s disobedience the many were made sinners, so also through the obedience of the One the many will be made righteous. 20 The Law came in so that the offense would increase; but where sin increased, grace abounded all the more, 21 so that, as sin reigned in death, so also grace would reign through righteousness to eternal life through Jesus Christ our Lord.”

Michael Bird's final application points:

1.    By faith, you are in Christ, not Adam.
2.    You cannot make yourself more justified than you already are.
3.    Whatever condemnation you think you had, it has been obliterated by grace.

Julia H. Johnston wrote a hymn, “Grace Greater Than Our Sin” as a commentary on Romans 5:20:

Marvelous, infinite, matchless grace,
Freely bestowed on all who believe!
You that are longing to see His face,
Will you this moment His grace receive?

Grace, grace, God’s grace,
Grace that will pardon and cleanse within;
Grace, grace, God’s grace,
Grace that is greater than all our sin!

Sin and despair, like the sea waves cold,
Threaten the soul with infinite loss;
Grace that is greater, yes, grace untold,
Points to the refuge, the mighty cross.