1109-1111 Franklin Ave · Columbus, OH 43205

$399,000

4 bd · None ba · 3,081 sqft · MultiFamily · 45 Days on market

Built 1893 Good condition 2,613 sqft lot $130/sqft · 9% below area Est $438k · 9% under

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Why this score? — see what drove the C 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 +22.0/30.0
• ARV discount +11.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• 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

Freshly renovated turnkey duplex across from new builds and future development sites. This 5bd/2ba and 2bd/1ba duplex has fully updated units with granite counters and stainless appliances. Currently vacant & perfect for house hackers or investors looking for a great investment in a great rapidly growing neighborhood. Less than a mile from Franklin Park and Trolley Barn East Market development. Market rents are $2,500+/mo for 5bd/2ba and $1,400+/mo for 2bd/1ba units. Quiet intersection street for ample street parking. Tour this while you can!

Key facts

• Turnkey duplex
• Fully updated units
• Ample street parking

Tags

• TURNKEY DUPLEX
• FULLY UPDATED UNITS
• GRANITE COUNTERS
• STAINLESS APPLIANCES
• QUIET INTERSECTION STREET
• AMPLE STREET PARKING

Property features AI

Finance

• Financial info: Net operating income: $46,800; Owner pays water and sewer

Exterior

• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Storm sewer available
• Home design: Duplex; Built in 1893 with effective year 2025
• Exterior features: Small lot (approximately 0.06 acres); Zoning: 520; No additional parcels

Interior

• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 1×5bd/2ba + 1×2bd/1ba units multifamily listed at $399k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive. Per door: $319/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Columbus Alternative High School (math 27% / reading 74%, grade D+, #380 of 781 statewide, top 49%, 758 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 20% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.4%/yr); 145 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $4,298/mo this rent would consume 86% of the median local household income ($60k/yr) (locally 823% 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 $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1893 — 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: 1.08% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (median comp): $437,768
• List price: $399,000
• Delta: -8.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 S Seventeeth St #3	0.38mi	5/— (+1)	2,816 (-9%)	2mo	$445,000	$158	61
1252-1254 Eastwood Ave	0.46mi	5/— (+1)	3,024 (-2%)	14mo	$431,000	$143	59
143 S Monroe Ave #145	0.46mi	5/— (+1)	3,363 (+9%)	3mo	$350,000	$104	55
384-386 S 22nd St	0.30mi	3/— (-1)	3,321 (+8%)	22mo	$422,500	$127	50
244-246 N Monroe Ave	0.71mi	4/—	2,880 (-6%)	13mo	$351,000	$122	46
664 S Champion Ave	0.68mi	5/— (+1)	2,858 (-7%)	20mo	$465,000	$163	34

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 · 1.43% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.73×
• Total profit: $-30,640
• Equity at exit: $59,492

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-671
• Equity at exit: $34,498

Cash invested: $111,720 (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 43205

• Rents YoY: 1.4%
• Active inventory: 145
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $4,298 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$903
• Net cashflow: $638

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 80%

Sensitivity live

Price	-10% $914	-5% $776	+0% $638	+5% $500	+10% $362
Rent	-10% $298	-5% $468	+0% $638	+5% $808	+10% $978
Rate	-1.0pp $839	-0.5pp $740	base $638	+0.5pp $535	+1.0pp $429

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

Units	Beds	Baths	Est. rent
1× unit	5	2	$2,531
1× unit	2	1	$1,766
Total (2 units)			$4,298

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
965 E Rich St Unit 965 Columbus, OH	3.0	1.0	2184	$1,600	$0.73	25d	1	0.29mi
1402 Fair Ave Columbus, OH	3.0	2.5	2563	$2,350	$0.92	17d	1	0.40mi
1445 E Broad St Columbus, OH	1.0–5.0	1.0–5.0	2164	$2,835	$1.31	3d	4	0.48mi
78 Auburn Ave Columbus, OH	5.0	3.5	2799	$3,950	$1.41	3d	1	0.53mi
1479-1481 Bryden Rd Columbus, OH	4.0	1.5	2604	$1,750	$0.67	45d	1	0.54mi
703 Franklin Ave Columbus, OH	4.0	3.5	3250	$4,995	$1.54	25d	1	0.61mi
683 S Champion Ave Unit 683 Columbus, OH	3.0	1.0	2728	$1,700	$0.62	45d	1	0.73mi
698 S 22nd St Columbus, OH	3.0	3.5	2400	$2,500	$1.04	45d	1	0.79mi
417 Morrison Ave Columbus, OH	4.0	1.5	3348	$2,000	$0.60	12d	1	0.82mi
1619 E Main St Columbus, OH	4.0	2.5	3946	$1,900	$0.48	45d	1	0.82mi
890 E Livingston Ave #892 Columbus, OH	3.0	1.0	2430	$1,400	$0.58	14d	1	0.86mi
368 N Garfield Ave Unit 370 Columbus, OH	3.0	2.0	3612	$2,000	$0.55	5d	1	0.87mi
1214 Atcheson St #1216 Columbus, OH	3.0	1.5	2613	$1,600	$0.61	45d	1	0.88mi
1756 Oak St Columbus, OH	4.0	2.0	2425	$5,200	$2.14	3d	1	0.90mi
533 Fairwood Ave Columbus, OH	4.0	2.0	2410	$2,475	$1.03	45d	1	0.97mi
883 Studer Ave Columbus, OH	4.0	2.5	2217	$2,500	$1.13	3d	1	1.01mi
310 E Beck St Columbus, OH	3.0	2.5	2265	$3,995	$1.76	45d	1	1.31mi

Listing history 16 events

1. 2026-06-21
   days on market $399,000 Active 45 DOM
2. 2026-06-18
   days on market $399,000 Active 42 DOM
3. 2026-06-17
   days on market $399,000 Active 41 DOM
4. 2026-06-16
   days on market $399,000 Active 40 DOM
5. 2026-06-15
   days on market $399,000 Active 39 DOM
6. 2026-06-13
   days on market $399,000 Active 37 DOM
7. 2026-06-13
   days on market $399,000 Active 36 DOM
8. 2026-06-09
   days on market $399,000 Active 33 DOM
9. 2026-06-08
   days on market $399,000 Active 32 DOM
10. 2026-06-07
    days on market $399,000 Active 31 DOM
11. 2026-06-05
    days on market $399,000 Active 28 DOM
12. 2026-06-03
    days on market $399,000 Active 27 DOM
13. 2026-06-02
    days on market $399,000 Active 26 DOM
14. 2026-06-01
    days on market $399,000 Active 25 DOM
15. 2026-05-31
    days on market $399,000 Active 24 DOM
16. 2026-05-07
    listed $399,000 Active 554-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 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: $51,576
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$4,126
• − Management: −$4,126
• − Depreciation: −$11,607
• Taxable income: $1,386
• Est. tax owed @ 24.0%: −$333
• After-tax cash flow: $7,324/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This freshly renovated and move-in-ready duplex is in good condition with updated kitchens and bathrooms. It is located in a rapidly growing neighborhood with ample street parking and future development sites nearby.

Value-add opportunities

• Both Painting the exterior siding and repainting the interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Upgrading the flooring to a more durable material — Replacing the hardwood flooring with a more durable material like laminate or vinyl can increase the property's value and appeal to a wider range of buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and repainting the interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Upgrading the flooring to a more durable material — Replacing the hardwood flooring with a more durable material like laminate or vinyl can increase the property's value and appeal to a wider range of buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 12,618
• Household income: $60,181
• Rent vs Own: 62.7% rent · 37.3% own
• Severe rent burden: 823.0

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 0.60)
• Race & ethnicity: Black 47% White 42% Two or more races 7% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 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: ▼ -282.36%
• Current HPI: 212.5692
• Rent YoY: ▲ 1.43%
• 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

1 event — show timeline

• 2026-05-07 Listed $399,000 CBRMLS