278-280 Brehl Ave · Columbus, OH 43222

$129,900

4 bd · 2.5 ba · 1,536 sqft · MultiFamily public records · 14 Days on market

Built 1956 3,920 sqft lot Est $243k · 46% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Multi-family units

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

Listing remarks MLS

FANTASTIC BELOW MARKET OPPORTUNITY! HUGE CASH FLOW POTENTIAL! 2-2 BEDROOM UP AND DOWN DUPLEX THAT NEEDS SOME WORK. GREAT RETURN ON INVESTMENT ONCE YOU COMPLETE THE REPAIRS. BANK OWNED! BEING SOLD 'AS-IS'.

Key facts

• Hot water tank
• New water line
• New furnace

Tags

• INVESTMENT OPPORTUNITY
• CASH-FLOWING RENTAL PROPERTY
• NEW WATER LINE
• NEW FURNACE
• HOT WATER TANK

Property features AI

Finance

• Financial info: Annual property tax reported

Exterior

• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Duplex; Built in 1956
• Exterior features: Lot approximately 0.09 acres

Interior

• Heating & cooling: Forced air heating
• Interior features: Forced air heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $506/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 15.6% 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: 50 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,448/mo this rent would consume 91% of the median local household income ($32k/yr) (locally 126% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $31k; list at $130k implies a 319% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.88% ✓
• Cap rate: 15.64%
• Cash-on-cash: 33.37%
• DSCR: 2.48
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $242,688
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1340-1342 W State St	0.27mi	4/—	1,488 (-3%)	8mo	$235,000	$158	76
270-272 S Yale Ave	0.27mi	4/—	1,560 (+2%)	14mo	$275,000	$176	73
266-288 S Yale Ave	0.27mi	4/—	1,560 (+2%)	20mo	$270,000	$173	68
40 Wisconsin Ave	0.50mi	3/— (-1)	1,592 (+4%)	12mo	$110,000	$69	56
1473 Thomas Ave	0.36mi	4/—	1,668 (+9%)	23mo	$200,000	$120	49

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.8%
• Equity multiple: 4.72×
• Total profit: $135,219
• Equity at exit: $117,024

10-year hold

• IRR: 43.5%
• Equity multiple: 10.56×
• Total profit: $347,642
• Equity at exit: $252,367

Cash invested: $36,372 (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 43222

• Active inventory: 50
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,448 high
• Mortgage (P&I): −$681
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $1,011

Break-even live

Break-even rent $1,168

Max offer price $129,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,448
Total (2 units)			$2,448

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	0.18mi
189 W Park Ave Unit 189 Columbus, OH	3.0	2.0	1276	$1,395	$1.09	7d	1	0.23mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$1,295	$1.37	14d	12	0.24mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.42mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	0.42mi
153 S Cypress Ave Columbus, OH	3.0	1.0	1472	$1,650	$1.12	7d	1	0.45mi
51 N Princeton Ave Columbus, OH	3.0	1.0	1188	$1,175	$0.99	23d	1	0.49mi
135-137 Dakota Ave Unit 135 Columbus, OH	3.0	1.5	2200	$1,800	$0.82	43d	1	0.51mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	21d	1	0.52mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	43d	1	0.53mi
158 Dakota Ave Columbus, OH	4.0	2.0	1800	$2,045	$1.14	7d	1	0.53mi
125 Avondale Ave Columbus, OH	3.0	1.5	1344	$1,695	$1.26	43d	1	0.58mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	7d	1	0.60mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	19d	1	0.60mi
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	43d	1	0.63mi
378 Hawkes Ave Columbus, OH	3.0	2.0	1200	$1,649	$1.37	23d	1	0.63mi
162 Wisconsin Ave Columbus, OH	4.0	2.5	1930	$1,900	$0.98	43d	1	0.69mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	43d	1	0.72mi
76 Rodgers Ave Columbus, OH	3.0	1.5	1422	$1,695	$1.19	23d	1	0.74mi
60 Martin Ave Columbus, OH	3.0	2.0	1807	$1,650	$0.91	23d	1	0.75mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.77mi
228 Schultz Ave Unit 1407033P Columbus, OH	5.0	1.5	1991	$5,806	$2.92	7d	1	0.78mi
228 Schultz Ave Unit 1407024P Columbus, OH	4.0	1.5	1991	$6,208	$3.12	14d	1	0.78mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	23d	1	0.86mi
749 Canonby Pl Apt E Columbus, OH	3.0	1.5	1200	$1,095	$0.91	17d	1	0.89mi
713 Canonby Pl Apt E Columbus, OH	3.0	1.5	1200	$1,095	$0.91	43d	1	0.90mi
713 Canonby Pl Unit B Columbus, OH	3.0	1.5	1200	$1,095	$0.91	3d	1	0.90mi
257 S Skidmore St Columbus, OH	3.0	2.0	1224	$1,895	$1.55	43d	1	1.09mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	19d	1	1.12mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	1.12mi
285 S Gift St Columbus, OH	3.0	2.0	1641	$1,700	$1.04	16d	1	1.14mi
285 S Gift St Columbus, OH	3.0	2.0	1641	$1,700	$1.04	23d	1	1.14mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	43d	1	1.23mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$3,649	$3.13	1d	52	1.30mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$3,599	$3.09	43d	15	1.30mi
1475 Stimmel Rd Columbus, OH	1.0–4.0	1.0	868	$1,585	$1.83	16d	1	1.39mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	43d	1	1.46mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	43d	1	1.46mi
1314 City View Dr Columbus, OH	1.0–3.0	1.0–2.0	961	$3,539	$3.68	1d	51	1.46mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	1.47mi

Listing history 11 events

1. 2026-06-18
   days on market $129,900 Active 14 DOM
2. 2026-06-17
   days on market $129,900 Active 13 DOM
3. 2026-06-16
   days on market $129,900 Active 12 DOM
4. 2026-06-15
   days on market $129,900 Active 11 DOM
5. 2026-06-13
   days on market $129,900 Active 9 DOM
6. 2026-06-13
   days on market $129,900 Active 8 DOM
7. 2026-06-09
   days on market $129,900 Active 5 DOM
8. 2026-06-08
   days on market $129,900 Active 4 DOM
9. 2026-06-07
   days on market $129,900 Active 3 DOM
10. 2026-06-05
    remarks 683-char remark
11. 2026-06-05
    listed $129,900 Active 1 DOM

ⓘ 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 49% 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,376
• − Mortgage interest: −$7,276
• − Property taxes: −$2,246
• − Insurance: −$650
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − Depreciation: −$3,779
• Taxable income: $10,725
• Est. tax owed @ 24.0%: −$2,574
• After-tax cash flow: $9,563/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): 4,819
• Household income: $32,321
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 126.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 43% Hispanic / Latino 28% Two or more races 21% Black 18% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 5%
• Common ancestry: Lithuanian 1% Slovak 1% Ukrainian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 86% English-only · Spanish 11% Korean 1% Russian/Polish/Slavic 0%

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: ▲ 231.44%
• Current HPI: 654.0855
• Rent YoY: —
• 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

+390.2% since first listed

10 events — show timeline

• 2026-06-04 Listed $129,900 CBRMLS
• 2002-12-23 Sold (Public Records) $31,000 Public Records
• 2002-11-01 Sold (MLS) $22,000 CBRMLS
• 2002-05-16 Listing Removed — CBRMLS
• 2002-05-13 Listed $24,900 CBRMLS
• 1997-04-16 Sold (Public Records) $30,400 Public Records
• 1996-10-10 Sold (Public Records) $30,400 Public Records
• 1996-10-03 Sold (Public Records) $30,000 Public Records
• 1987-01-30 Sold (Public Records) $32,800 Public Records
• 1985-12-11 Sold (Public Records) $26,500 Public Records

Property tax history

+11.3%/yr

Latest (2024): $2,246 · +1.3% YoY. Source: county tax records.