1538 Union Ave · Columbus, OH 43223

$10,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 31 Days on market

Built 1959 5,227 sqft lot

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Why this score? — see what drove the D 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 +13.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE AUCTION, the RESERVE (Minimum Bid) is $10,000. The auction ends at 7:00 PM, Thursday, May 28th, 2026. BUYERS MUST SIGN ACKNOWLEDGEMENT OF TERMS to bid. Agents, please see 'A2A'.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1959

Property features AI

Finance

• Financial info: $660 annual tax (2024)

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence; One-story home; Built in 1959; No shared/common walls
• Construction: Block foundation (1959 construction)
• Exterior features: Block foundation; Lot about 0.12 acre

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: One full bathroom
• Interior features: Walk-out basement

🔨 Auction listing. The $10,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $162,701 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $5 ($62/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Recommended offer: $10k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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 (+4.6%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 37% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 31 days — a 3% lower offer ($10k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 24.4% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $9,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $162,701
• List price: $10,000
• Delta: -93.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1538 Union Ave	0.00mi	3/1.0	1,064 (0%)	0mo	$44,000	$41	100
550 Helen St	0.26mi	3/1.0	1,110 (+4%)	3mo	$169,900	$153	78
1476 Thomas Ave	0.14mi	2/1.0 (-1)	978 (-8%)	3mo	$150,000	$153	73
436 Catherine St	0.14mi	2/1.0 (-1)	960 (-10%)	3mo	$65,000	$68	70
151 Columbian Ave	0.64mi	3/1.0	1,012 (-5%)	2mo	$146,500	$145	60
258 Wrexham Ave	0.72mi	3/2.0	1,068 (+0%)	1mo	$194,000	$182	60
481 Wrexham Ave	0.73mi	2/1.0 (-1)	1,064 (0%)	5mo	$139,000	$131	57
385 S Yale Ave	0.53mi	3/1.0	947 (-11%)	3mo	$62,000	$65	54
635 Clark Ave	0.58mi	2/1.0 (-1)	997 (-6%)	4mo	$172,500	$173	54
1046 Bellows Ave	0.70mi	2/1.0 (-1)	1,119 (+5%)	3mo	$115,000	$103	51
1082 Thomas Ave	0.65mi	3/1.5	1,176 (+10%)	1mo	$212,500	$181	49
67 N Central Ave	0.72mi	3/1.5	1,176 (+10%)	1mo	$78,000	$66	46

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.48×
• Total profit: $-23,661
• Equity at exit: $24,259

10-year hold

• IRR: -3.1%
• Equity multiple: 0.78×
• Total profit: $-10,114
• Equity at exit: $14,067

Cash invested: $45,556 (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 43223

• Rents YoY: 4.6%
• Active inventory: 144
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$853
• Tax est. 1.5%: −$203 /mo · $2,441/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $5

Break-even live

Break-even rent $1,423

Max offer price $162,701

Occupancy floor 95%

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: $40,675
• Closing costs: $4,881
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1485 Walsh Ave Columbus, OH	2.0	1.0	720	$1,450	$2.01	23d	1	0.12mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.13mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	0.13mi
436 Catherine St Columbus, OH	2.0	1.5	960	$1,300	$1.35	7d	1	0.14mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	0.14mi
490 Helen St Columbus, OH	2.0	1.0	840	$1,200	$1.43	43d	1	0.22mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	43d	1	0.44mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$1,295	$1.37	14d	12	0.46mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.48mi
142 Dana Ave Unit 142 Columbus, OH	2.0	1.0	700	$825	$1.18	43d	1	0.50mi
800 Harrisburg Pike Unit 2 bedroom townhomes Columbus, OH	2.0	1.0	1250	$995	$0.80	43d	1	0.50mi
802 Harrisburg Pike Columbus, OH	2.0	1.0	1250	$995	$0.80	3d	1	0.51mi
189 W Park Ave Unit 189 Columbus, OH	3.0	2.0	1276	$1,395	$1.09	7d	1	0.53mi
411 S Yale Ave Columbus, OH	2.0	1.0	784	$1,425	$1.82	43d	1	0.54mi
87-89 Dana Ave Columbus, OH	2.0	1.0	948	$1,100	$1.16	21d	1	0.54mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	21d	1	0.63mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	19d	1	0.63mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.63mi
108 Columbian Ave Unit B Columbus, OH	2.0	1.0	820	$900	$1.10	7d	1	0.63mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	43d	1	0.67mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	43d	1	0.70mi
85 Stevens Ave Columbus, OH	2.0	1.0	816	$995	$1.22	43d	1	0.71mi
185 S Cypress Ave Columbus, OH	2.0	1.0	1104	$1,695	$1.54	43d	1	0.73mi
51 N Princeton Ave Columbus, OH	3.0	1.0	1188	$1,175	$0.99	23d	1	0.73mi
73 Hayden Ave Columbus, OH	2.0	1.0	894	$1,350	$1.51	7d	1	0.73mi
153 S Cypress Ave Columbus, OH	3.0	1.0	1472	$1,650	$1.12	7d	1	0.75mi
100 N Central Ave Columbus, OH	2.0	1.0	932	$1,043	$1.12	43d	1	0.75mi
1137 W Broad St Columbus, OH	1.0–2.0	1.0	770	$1,860	$2.42	43d	1	0.77mi
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	43d	1	0.78mi
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	16d	1	0.81mi
163 N Central Ave Columbus, OH	2.0	2.5	1100	$1,650	$1.50	43d	1	0.83mi
121 Chicago Ave Columbus, OH	2.0	2.0	1234	$1,550	$1.26	43d	1	0.85mi
129 Chicago Ave Columbus, OH	2.0	2.5	1260	$1,895	$1.50	23d	1	0.86mi
378 Hawkes Ave Columbus, OH	3.0	2.0	1200	$1,649	$1.37	23d	1	0.86mi
125 Avondale Ave Columbus, OH	3.0	1.5	1344	$1,695	$1.26	43d	1	0.87mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	7d	1	0.87mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	19d	1	0.87mi
735 Canonby Pl Apt B Columbus, OH	3.0	1.5	950	$1,095	$1.15	19d	1	0.94mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.96mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	19d	1	0.96mi

Listing history 3 events

1. 2026-04-27
   listed $10,000 Active 185-char remark
2. 1995-08-28
   soldstatus $34,000
3. 1987-01-31
   soldstatus $34,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 75% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,158
• − Mortgage interest: −$9,114
• − Property taxes: −$2,441
• − Insurance: −$814
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$4,733
• Taxable loss: −$2,688
• Est. tax savings @ 24.0%: +$645
• After-tax cash flow: $707/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): 28,187
• Household income: $46,911
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1689.0

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 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5%

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: ▼ -135.33%
• Current HPI: 211.6742
• Rent YoY: ▲ 4.61%
• 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

+29.4% since first listed

5 events — show timeline

• 2026-06-11 Sold (MLS) $44,000 CBRMLS
• 2026-05-29 Pending — CBRMLS
• 2026-04-27 Listed $10,000 CBRMLS
• 1995-08-28 Sold (Public Records) $34,000 Public Records
• 1987-01-31 Sold (Public Records) $34,000 Public Records

Property tax history

+4.1%/yr

Latest (2024): $660 · -41.7% YoY. Source: county tax records.