1109-1111 Franklin Ave · Columbus, OH 43205

$399,000

4 bd · None ba · 3,081 sqft · MultiFamily · 83 Days on market

Built 1893 Good condition 2,613 sqft lot $130/sqft · 10% below area Est $441k · 10% 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 +15.5/30.0
• ARV discount +11.8/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.9/5.0
• 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. 5bd currently vacant, 2bd currently leased $1395/mo. This is 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 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

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.
• This rent per unit runs 37% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive. Per door: $80/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $369k (7.4% below list).
• Recommended offer: $369k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.9% 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); 179 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

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 83 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $369,400 (7.4% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 7% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $441,458
• List price: $399,000
• Delta: -9.62%
• 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%)	3mo	$445,000	$158	60
1252-1254 Eastwood Ave	0.46mi	5/— (+1)	3,024 (-2%)	15mo	$431,000	$143	58
143 S Monroe Ave #145	0.46mi	5/— (+1)	3,363 (+9%)	5mo	$350,000	$104	54
384-386 S 22nd St	0.30mi	3/— (-1)	3,321 (+8%)	23mo	$422,500	$127	49
244-246 N Monroe Ave	0.71mi	4/—	2,880 (-6%)	14mo	$351,000	$122	44
664 S Champion Ave	0.68mi	5/— (+1)	2,858 (-7%)	22mo	$465,000	$163	33

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: -15.3%
• Equity multiple: 0.46×
• Total profit: $-60,100
• Equity at exit: $59,492

10-year hold

• IRR: -9.7%
• Equity multiple: 0.45×
• Total profit: $-61,759
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 2 under contract
• Months of supply: 7.2 mo (14%/mo absorbed)
• Median asking: $444,700 ($167/sqft)
• Median days on market: 115 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -14.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43205

• Rents YoY: 1.4%
• Active inventory: 179
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,694 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$776
• Net cashflow: $161

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

Units	Beds	Baths	Est. rent
1× unit	5	2	$2,344
1× unit	2	1	$1,350
Total (2 units)			$3,694

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 91%

Sensitivity live

Price	-10% $437	-5% $299	+0% $161	+5% $23	+10% $-115
Rent	-10% $-131	-5% $15	+0% $161	+5% $307	+10% $453
Rate	-1.0pp $362	-0.5pp $262	base $161	+0.5pp $57	+1.0pp $-48

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1117-1119 Franklin Ave Columbus, OH	3.0	1.0	1288	$1,525	$1.18	93d	1	0.03mi
1109 Franklin Ave Unit 1109 Columbus, OH	2.0	1.0	1200	$1,350	$1.12	93d	1	0.03mi
1096 Oak St Columbus, OH	2.0	2.5	1487	$2,049	$1.38	39d	1	0.08mi
1096 Oak St Columbus, OH	2.0	2.5	1487	$2,099	$1.41	52d	1	0.08mi
1096 Bryden Rd Apt D Columbus, OH	1.0	1.0	700	$950	$1.36	65d	1	0.09mi
151 Sherman Ave Unit 101 Columbus, OH	2.0	1.0	981	$1,675	$1.71	70d	1	0.14mi
151 Sherman Ave #102 Columbus, OH	2.0	1.0	970	$1,675	$1.73	73d	1	0.14mi
151 Sherman Ave Unit 101 Columbus, OH	2.0	1.0	981	$1,675	$1.71	73d	1	0.14mi
151 Sherman Ave #001 Columbus, OH	1.0	1.0	835	$1,199	$1.44	73d	1	0.14mi
151 Sherman Ave #001 Columbus, OH	1.0	1.0	835	$1,199	$1.44	93d	1	0.14mi
143 Sherman Ave Columbus, OH	2.0	1.0	919	$1,588	$1.73	73d	2	0.14mi
282-284 S Ohio Ave Columbus, OH	3.0	2.0	1477	$1,599	$1.08	13d	1	0.16mi
282-284 S Ohio Ave Columbus, OH	3.0	2.0	1477	$1,649	$1.12	47d	1	0.16mi
282-284 S Ohio Ave Columbus, OH	3.0	2.0	1477	$1,599	$1.08	17d	1	0.16mi
301 1/2 S Ohio Ave Columbus, OH	3.0	1.0	1230	$1,500	$1.22	29d	1	0.20mi
1309 Fair Ave Columbus, OH	2.0	1.0	750	$999	$1.33	26d	1	0.27mi
1309 Fair Ave Columbus, OH	1.0	1.0	750	$899	$1.20	29d	1	0.27mi
1309 Fair Ave Columbus, OH	2.0	1.0	850	$1,050	$1.24	56d	1	0.27mi
1319 Fair Ave Columbus, OH	1.0	1.0	750	$999	$1.33	21d	1	0.28mi
973 E Broad St #3 Columbus, OH	2.0	1.0	780	$1,500	$1.92	66d	1	0.32mi
1179 E Main St Columbus, OH	1.0	1.0	882	$1,450	$1.64	18d	2	0.36mi
413 S Ohio Ave Unit 4135 Columbus, OH	2.0	1.0	1029	$1,249	$1.21	56d	1	0.36mi
61 N 21st St Unit J Columbus, OH	2.0	1.0	738	$995	$1.35	93d	1	0.37mi
58-64 N 20th St Columbus, OH	2.0	1.0	1100	$1,495	$1.36	56d	1	0.37mi
64 N 20th St Columbus, OH	2.0	1.0	1400	$1,495	$1.07	56d	1	0.37mi
62 N 20th St Columbus, OH	3.0	1.0	1100	$1,595	$1.45	93d	1	0.37mi
950 McAllister Ave Columbus, OH	2.0	1.0	980	$1,225	$1.25	73d	1	0.38mi
950 McAllister Ave Columbus, OH	2.0	1.0	980	$1,250	$1.28	93d	1	0.38mi
950 McAllister Ave Columbus, OH	2.0	1.0	980	$1,300	$1.33	27d	1	0.38mi
950 McAllister Ave Columbus, OH	2.0	1.0	980	$1,300	$1.33	28d	1	0.38mi
461 Oakwood Ave Columbus, OH	3.0	1.5	1386	$1,845	$1.33	93d	1	0.40mi
848 Oak St Columbus, OH	3.0	1.5	1428	$1,700	$1.19	93d	1	0.42mi
838 Oak St Columbus, OH	1.0	1.0	750	$1,100	$1.47	21d	1	0.43mi
838 Oak St Unit D Columbus, OH	1.0	1.0	750	$1,100	$1.47	32d	1	0.43mi
834 Oak St Unit 834 Columbus, OH	3.0	2.5	1450	$2,200	$1.52	15d	1	0.45mi
830 Oak St Columbus, OH	3.0	2.5	1451	$2,200	$1.52	29d	1	0.45mi
834 Oak St Columbus, OH	3.0	2.5	1400	$2,200	$1.57	29d	1	0.45mi
830 Oak St Unit 830 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	69d	1	0.45mi
60-66 Winner Ave Columbus, OH	2.0	1.0	1500	$1,250	$0.83	66d	1	0.45mi
361 Loeffler Ave Columbus, OH	2.0	2.5	1399	$2,100	$1.50	66d	1	0.47mi

Property features AI

Finance

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

Exterior

• Utilities: Public waterPublic sewerNatural gas availableElectricity availableStorm sewer available
• Home design: DuplexBuilt in 1893 with effective year 2025
• Exterior features: Small lot (approximately 0.06 acres)Zoning: 520No additional parcels

Interior

• Interior features: Central air conditioningForced air heating

Listing history 48 events

1. 2026-07-30
   days on market $399,000 Active 83 DOM
2. 2026-07-28
   days on market $399,000 Active 82 DOM
3. 2026-07-26
   days on market $399,000 Active 80 DOM
4. 2026-07-24
   days on market $399,000 Active 78 DOM
5. 2026-07-23
   days on market $399,000 Active 77 DOM
6. 2026-07-22
   days on market $399,000 Active 76 DOM
7. 2026-07-21
   days on market $399,000 Active 75 DOM
8. 2026-07-20
   days on market $399,000 Active 74 DOM
9. 2026-07-18
   days on market $399,000 Active 72 DOM
10. 2026-07-18
    days on market $399,000 Active 71 DOM
11. 2026-07-16
    days on market $399,000 Active 70 DOM
12. 2026-07-15
    days on market $399,000 Active 69 DOM
13. 2026-07-14
    days on market $399,000 Active 68 DOM
14. 2026-07-13
    days on market $399,000 Active 67 DOM
15. 2026-07-13
    days on market $399,000 Active 66 DOM
16. 2026-07-12
    days on market $399,000 Active 65 DOM
17. 2026-07-10
    days on market $399,000 Active 64 DOM
18. 2026-07-09
    remarks 563-char remark
19. 2026-07-09
    days on market $399,000 Active 63 DOM
20. 2026-07-07
    days on market $399,000 Active 61 DOM
21. 2026-07-06
    days on market $399,000 Active 60 DOM
22. 2026-07-05
    days on market $399,000 Active 59 DOM
23. 2026-07-03
    days on market $399,000 Active 57 DOM
24. 2026-07-02
    days on market $399,000 Active 56 DOM
25. 2026-07-01
    days on market $399,000 Active 55 DOM
26. 2026-06-30
    days on market $399,000 Active 54 DOM
27. 2026-06-29
    days on market $399,000 Active 53 DOM
28. 2026-06-28
    days on market $399,000 Active 52 DOM
29. 2026-06-27
    days on market $399,000 Active 51 DOM
30. 2026-06-27
    days on market $399,000 Active 50 DOM
31. 2026-06-25
    days on market $399,000 Active 48 DOM
32. 2026-06-22
    days on market $399,000 Active 46 DOM
33. 2026-06-21
    days on market $399,000 Active 45 DOM
34. 2026-06-18
    days on market $399,000 Active 42 DOM
35. 2026-06-17
    days on market $399,000 Active 41 DOM
36. 2026-06-16
    days on market $399,000 Active 40 DOM
37. 2026-06-15
    days on market $399,000 Active 39 DOM
38. 2026-06-13
    days on market $399,000 Active 37 DOM
39. 2026-06-13
    days on market $399,000 Active 36 DOM
40. 2026-06-09
    days on market $399,000 Active 33 DOM
41. 2026-06-08
    days on market $399,000 Active 32 DOM
42. 2026-06-07
    days on market $399,000 Active 31 DOM
43. 2026-06-05
    days on market $399,000 Active 28 DOM
44. 2026-06-03
    days on market $399,000 Active 27 DOM
45. 2026-06-02
    days on market $399,000 Active 26 DOM
46. 2026-06-01
    days on market $399,000 Active 25 DOM
47. 2026-05-31
    days on market $399,000 Active 24 DOM
48. 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: $44,328
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,546
• − Management: −$3,546
• − Depreciation: −$11,607
• Taxable loss: −$4,702
• Est. tax savings @ 24.0%: +$1,128
• After-tax cash flow: $3,059/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 Est. rehab $15,405–$46,215 screening

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. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Ohio Avenue Elementary School F OH #1,554/1,584 Nat'l #40,579/41,679 Middle Champion Middle School F OH #642/654 Nat'l #13,275/14,009 High Bexley High School A OH #4/781 Nat'l #564/17,239

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

A Composite livability gradescore 81/100

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 · 1,456,139 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: 15% of renters

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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%

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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%

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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

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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

Property features AI

Finance

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

Exterior

• Utilities: Public waterPublic sewerNatural gas availableElectricity availableStorm sewer available
• Home design: DuplexBuilt in 1893 with effective year 2025
• Exterior features: Small lot (approximately 0.06 acres)Zoning: 520No additional parcels

Interior

• Interior features: Central air conditioningForced air heating

Price history

1 event — show timeline

• 2026-05-07 Listed $399,000 CBRMLS