191 N Wayne Ave · Columbus, OH 43204

$127,999

2 bd · 2.0 ba · 1,550 sqft · MultiFamily public records · 60 Days on market

Built 1924 3,920 sqft lot $83/sqft · 20% below area Est $160k · 20% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Cash flowing property - 2 Units - Tenants pay all utilities! Short Sale

Key facts

• 3,920 sq ft lot
• Built 1924
• Listed 59 days

Property features AI

Finance

• Other: Standard listing conditions
• Financial info: Annual taxes reported: $511 (2024)

Exterior

• Home design: Duplex; Built in 1924; Address on N Wayne Ave near West Broad
• Construction: Originally constructed in 1924
• Exterior features: Lot approximately 0.09 acres

Interior

• Interior features: Two-unit configuration (duplex)

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $128k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $528/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 3.8% in Columbus — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#97 in OH, #1,491 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F.
• Columbus City School District (urban): math 15% / reading 26% proficiency, ranked #626 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,308/mo this rent would consume 47% of the median local household income ($59k/yr) (locally 2290% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $128k implies a 1013% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,159 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 16.19%
• Cash-on-cash: 35.36%
• DSCR: 2.57
• GRM: 4.6

CMA / ARV

• ARV (median comp): $159,701
• List price: $127,999
• Delta: -18.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 S Wheatland Ave	0.34mi	3/— (+1)	1,456 (-6%)	18mo	$199,000	$137	54
23-25 N Warren Ave	0.46mi	3/— (+1)	1,616 (+4%)	15mo	$120,000	$74	54
187 Whitethorne Ave	0.68mi	2/—	1,344 (-13%)	22mo	$178,000	$132	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.49% rent growth · sell at horizon

5-year hold

• IRR: 32.5%
• Equity multiple: 2.40×
• Total profit: $50,001
• Equity at exit: $19,085

10-year hold

• IRR: 40.3%
• Equity multiple: 5.04×
• Total profit: $144,860
• Equity at exit: $11,067

Cash invested: $35,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43204

• Rents YoY: 4.5%
• Active inventory: 188
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$671
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $1,056

Break-even live

Break-even rent $971

Max offer price $127,999

Occupancy floor 49%

Sensitivity live

Price	-10% $1,129	-5% $1,092	+0% $1,056	+5% $1,020	+10% $984
Rent	-10% $874	-5% $965	+0% $1,056	+5% $1,147	+10% $1,239
Rate	-1.0pp $1,121	-0.5pp $1,089	base $1,056	+0.5pp $1,023	+1.0pp $989

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,308
Total (2 units)			$2,308

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	13d	1	0.08mi
87-97 N Burgess Ave Unit 93 Columbus, OH	2.0	1.5	1050	$1,250	$1.19	25d	1	0.28mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	25d	1	0.32mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	25d	1	0.32mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	45d	1	0.32mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	3d	1	0.33mi
2735 Sutton Ave Columbus, OH	3.0	1.0	1099	$1,175	$1.07	4d	1	0.49mi
2745-2747 Steele Ave Columbus, OH	3.0	1.0	2128	$1,200	$0.56	45d	1	0.50mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	4d	1	0.51mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	45d	1	0.51mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	21d	1	0.56mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	4d	1	0.56mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	25d	1	0.61mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	18d	1	0.62mi
2730 Elliott Ave Columbus, OH	3.0	1.0	1332	$1,803	$1.35	45d	1	0.65mi
43-45 N Chase Ave Unit 43 Columbus, OH	3.0	1.0	1200	$1,400	$1.17	12d	1	0.68mi
43 N Chase Ave Columbus, OH	3.0	1.0	1200	$1,400	$1.17	12d	1	0.68mi
130 N Roys Ave Columbus, OH	3.0	1.0	1380	$1,595	$1.16	3d	1	0.71mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	4d	1	0.72mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	25d	1	0.74mi
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	17d	1	0.79mi
41-43 N Huron Ave Unit 41 Columbus, OH	3.0	1.0	1176	$1,400	$1.19	9d	1	0.88mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	21d	1	0.90mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	45d	1	0.96mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	4d	1	1.00mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	12d	1	1.00mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	45d	1	1.05mi
2883-2889 Wicklow Rd Columbus, OH	2.0	1.0	1200	$1,099	$0.92	45d	1	1.07mi
59 N Brinker Ave Columbus, OH	1.0	1.0	1200	$950	$0.79	45d	1	1.08mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	4d	1	1.10mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	4d	1	1.10mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	45d	1	1.16mi
179 N Sylvan Ave Unit 179 Columbus, OH	3.0	2.0	1152	$2,000	$1.74	18d	1	1.19mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	45d	1	1.19mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	22d	1	1.21mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	45d	1	1.22mi
331 S Westgate Ave #333 Columbus, OH	1.0	1.0	1129	$1,150	$1.02	4d	1	1.23mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	22d	1	1.25mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	45d	1	1.26mi
486-488 S Huron Ave Unit 488 Columbus, OH	2.0	1.0	1104	$1,150	$1.04	45d	1	1.27mi

Listing history 34 events

1. 2026-06-21
   pricedays on market $127,999 Active 60 DOM
2. 2026-06-18
   days on market $129,999 Active 57 DOM
3. 2026-06-17
   days on market $129,999 Active 56 DOM
4. 2026-06-16
   days on market $129,999 Active 55 DOM
5. 2026-06-15
   days on market $129,999 Active 54 DOM
6. 2026-06-13
   pricedays on market $129,999 Active 52 DOM
7. 2026-06-13
   days on market $141,999 Active 51 DOM
8. 2026-06-09
   days on market $141,999 Active 48 DOM
9. 2026-06-08
   days on market $141,999 Active 47 DOM
10. 2026-06-07
    days on market $141,999 Active 46 DOM
11. 2026-06-05
    pricedays on market $141,999 Active 43 DOM
12. 2026-06-03
    days on market $143,999 Active 42 DOM
13. 2026-06-02
    days on market $143,999 Active 41 DOM
14. 2026-06-01
    days on market $143,999 Active 40 DOM
15. 2026-05-31
    days on market $143,999 Active 39 DOM
16. 2026-05-13
    price $149,999 692-char remark
17. 2026-04-29
    price $159,999 692-char remark
18. 2026-04-24
    price $164,999 692-char remark
19. 2026-04-22
    listed $167,999 Active 692-char remark
20. 2011-07-30
    soldstatus $11,500 71-char remark

    Show marketing remark (71 chars)

    Cash flowing property - 2 Units - Tenants pay all utilities! Short Sale

21. 2011-07-29
    historical 71-char remark

    Show marketing remark (71 chars)

    Cash flowing property - 2 Units - Tenants pay all utilities! Short Sale

22. 2011-07-27
    soldstatus $11,500
23. 2010-09-30
    listed $19,000 71-char remark

    Show marketing remark (71 chars)

    Cash flowing property - 2 Units - Tenants pay all utilities! Short Sale

24. 2006-04-19
    soldstatus $65,000
25. 2006-02-27
    historical
26. 2005-10-17
    listed $67,620
27. 2005-09-06
    historical
28. 2005-05-10
    listed $69,620
29. 2004-12-07
    historical
30. 2004-10-13
    listed $79,000
31. 1997-08-21
    soldstatus $36,700
32. 1997-08-20
    soldstatus $35,700
33. 1997-07-26
    historical
34. 1997-06-01
    listed $40,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $511 · $43/mo
• Projected year-2 tax: $1,254 · $104/mo
• Expected delta: +$743/yr (+$62/mo · 145.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,696
• − Mortgage interest: −$7,170
• − Property taxes: −$511
• − Insurance: −$640
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − Depreciation: −$3,724
• Taxable income: $11,220
• Est. tax owed @ 24.0%: −$2,693
• After-tax cash flow: $9,981/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Columbus City School District
• NCES district ID: 3904380
• Math proficiency: 15% ▼ -17.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $38,483
• Composite: 17.19/100
• National rank: #9105
• State rank: #626 of 656 in OH

Livability — Columbus

• Score: 81/100
• State rank: #97
• US rank: #1491

Category grades

Amenities A- Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety A- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, OH
• County: Franklin County · 1,351,780 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2290.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 1,456,139 people
• By 2030: 1,556,890 · +6.9%
• By 2040: 1,757,349 · +20.7%
• By 2050: 1,950,539 · +34.0%
• By 2075: 2,376,171 · +63.2%
• By 2100: 2,636,796 · +81.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 13% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 81% English-only · Spanish 13% Arabic 2% Other Asian/Pacific 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+28.4) · D 63.7% · R 35.3% · Other 1.0%
• 2008→2024 swing: +7.7pp toward D · 2008: 20.7pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+31.4 2016: D+25.9 2012: D+21.7 2008: D+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -220.67%
• Current HPI: 265.7711
• Rent YoY: ▲ 4.49%
• Metro: Columbus, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+220.0% since first listed

23 events — show timeline

• 2026-06-19 Price Changed $127,999 CBRMLS
• 2026-06-13 Price Changed $129,999 CBRMLS
• 2026-06-03 Price Changed $141,999 CBRMLS
• 2026-05-26 Price Changed $143,999 CBRMLS
• 2026-05-13 Price Changed $149,999 CBRMLS
• 2026-04-29 Price Changed $159,999 CBRMLS
• 2026-04-24 Price Changed $164,999 CBRMLS
• 2026-04-22 Listed $167,999 CBRMLS
• 2011-07-30 Sold (MLS) $11,500 CBRMLS
• 2011-07-29 Listing Removed — CBRMLS
• 2011-07-27 Sold (Public Records) $11,500 Public Records
• 2010-09-30 Listed $19,000 CBRMLS
• 2006-04-19 Sold (Public Records) $65,000 Public Records
• 2006-02-27 Listing Removed — CBRMLS
• 2005-10-17 Listed $67,620 CBRMLS
• 2005-09-06 Listing Removed — CBRMLS
• 2005-05-10 Listed $69,620 CBRMLS
• 2004-12-07 Listing Removed — CBRMLS
• 2004-10-13 Listed $79,000 CBRMLS
• 1997-08-21 Sold (Public Records) $36,700 Public Records
• 1997-08-20 Sold (MLS) $35,700 CBRMLS
• 1997-07-26 Listing Removed — CBRMLS
• 1997-06-01 Listed $40,000 CBRMLS

Property tax history

-8.1%/yr

Latest (2024): $511 · -73.3% YoY. Source: county tax records.