663 E 2nd Ave · Columbus, OH 43201

$199,000

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 160 Days on market

Built 1989 6,969 sqft lot $159/sqft · 15% below area Est $233k · 15% 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 +16.0/30.0
• ARV discount +14.1/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained 4-bedroom ranch offering a full basement and generous living space throughout. Situated on a desirable corner lot, this home features a spacious yard with plenty of room for outdoor entertaining, gardening, or future expansion. Ideally located just minutes from OSU, downtown Columbus, and the city's premier dining, shopping, and entertainment destinations, this property combines comfort, convenience, and an exceptional location. With its prime location near OSU and downtown, this home presents excellent investment potential, whether as a rental, house-or long-term appreciation asset. Strong demand in the area makes it attractive for investors seeking stable returns and future growth.

Key facts

• Spacious yard
• Outdoor entertaining
• Near downtown

Tags

• FULL BASEMENT
• CORNER LOT
• SPACIOUS YARD
• OUTDOOR ENTERTAINING
• NEAR DOWNTOWN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (7.2% below list).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+2.1%/yr); 136 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,848/mo this rent would consume 51% of the median local household income ($44k/yr) (locally 4913% 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 $1k of loan paydown is wiped out by about $6k 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 160 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $199k implies a 1709% gain — meaningful room to come down on a strong offer.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 9.0

CMA / ARV

• ARV (median comp): $233,453
• List price: $199,000
• Delta: -14.76%
• 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
779 Gibbard Ave	0.23mi	3/1.0 (-1)	1,246 (-0%)	6mo	$159,000	$128	79
497 E 2nd Ave	0.25mi	3/2.0 (-1)	1,260 (+1%)	12mo	$325,000	$258	68
765 E 2nd Ave	0.15mi	3/1.5 (-1)	1,380 (+11%)	2mo	$244,900	$177	67
819 Gibbard Ave	0.27mi	3/1.0 (-1)	1,156 (-7%)	6mo	$174,900	$151	65
796 E 4th Ave	0.31mi	3/2.5 (-1)	1,324 (+6%)	2mo	$202,900	$153	63
645 E 3rd Ave	0.13mi	3/1.5 (-1)	1,428 (+14%)	0mo	$324,900	$228	63
885 Camden Ave	0.65mi	3/1.0 (-1)	1,204 (-4%)	8mo	$95,000	$79	52
1112 Peters Ave	0.53mi	3/1.5 (-1)	1,144 (-8%)	4mo	$95,000	$83	51
1158 Lexington Ave	0.55mi	3/1.0 (-1)	1,144 (-8%)	6mo	$143,000	$125	50
468 Sawyer Blvd	0.70mi	3/1.5 (-1)	1,314 (+5%)	10mo	$268,000	$204	43
1146 Walters St	0.50mi	3/1.5 (-1)	1,110 (-11%)	12mo	$170,000	$153	41
923 Leona Ave	0.61mi	3/2.0 (-1)	1,144 (-8%)	12mo	$160,000	$140	39

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 · 2.14% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.51×
• Total profit: $-27,534
• Equity at exit: $29,672

10-year hold

• IRR: -6.5%
• Equity multiple: 0.60×
• Total profit: $-22,207
• Equity at exit: $17,206

Cash invested: $55,720 (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 43201

• Rents YoY: 2.1%
• Active inventory: 136
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$235 /mo · $2,815/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $99

Break-even live

Break-even rent $1,723

Max offer price $199,000

Occupancy floor 90%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
791-793 E Starr Ave Unit 793 Columbus, OH	3.0	1.0	1144	$1,230	$1.08	23d	1	0.18mi
793 E Starr Ave Columbus, OH	3.0	1.0	1144	$1,230	$1.08	23d	1	0.18mi
1174 Walters St Columbus, OH	3.0	1.0	1200	$1,549	$1.29	43d	1	0.57mi
153 Punta Aly Columbus, OH	3.0	1.5	1358	$2,100	$1.55	43d	1	0.78mi
138 Sommerfeld Pl Columbus, OH	1.0–3.0	1.0–2.5	1212	$2,030	$1.67	2d	21	0.82mi
1206 N 4th St Columbus, OH	3.0	1.0–3.0	971	$3,279	$3.38	2d	44	0.82mi
726 Kerr St Columbus, OH	3.0	1.0	986	$2,200	$2.23	43d	1	0.86mi
1427 Grogan Ave Columbus, OH	3.0	1.0	768	$1,475	$1.92	43d	1	0.88mi
1094 Say Ave Columbus, OH	3.0	2.0	1400	$2,995	$2.14	43d	1	0.93mi
1216 Atcheson St Columbus, OH	3.0	2.0	1092	$1,550	$1.42	3d	1	0.95mi
250 N 21st St Columbus, OH	3.0	2.5	1452	$2,600	$1.79	43d	1	1.02mi
370 E 11th Ave Columbus, OH	2.0–3.0	1.0–2.5	986	$2,214	$2.24	1d	5	1.09mi
1268 Courtland Ave Columbus, OH	3.0	1.5	1300	$1,799	$1.38	3d	1	1.10mi
1308-1310 Mount Vernon Ave Unit 1308 Columbus, OH	3.0	2.0	1400	$1,695	$1.21	43d	1	1.12mi
76 W Starr Ave Columbus, OH	3.0	1.0	1500	$3,400	$2.27	43d	1	1.12mi
898 E 13th Ave Columbus, OH	3.0	1.0	1120	$1,230	$1.10	10d	1	1.14mi
898-900 E 13th Ave Unit 898 Columbus, OH	3.0	1.0	1120	$1,230	$1.10	7d	1	1.14mi
62 N 20th St Columbus, OH	3.0	1.0	1100	$1,595	$1.45	43d	1	1.19mi
366 E Broad St Columbus, OH	1.0–3.0	1.0–2.0	964	$2,350	$2.44	2d	9	1.23mi
1042 E 14th Ave Columbus, OH	3.0	1.0	1084	$1,350	$1.25	23d	1	1.24mi
989 E 15th Ave Columbus, OH	3.0	1.0	1204	$1,250	$1.04	23d	1	1.25mi
1522 Indianola Ave Unit C Columbus, OH	3.0	1.5	1270	$1,950	$1.54	23d	1	1.25mi
830 Oak St Columbus, OH	3.0	2.5	1451	$2,500	$1.72	7d	1	1.29mi
1557 Brooks Ave Columbus, OH	3.0	1.0	1056	$1,250	$1.18	2d	1	1.29mi
830 Oak St Unit 830 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	19d	1	1.29mi
834 Oak St Columbus, OH	3.0	2.5	1400	$2,500	$1.79	7d	1	1.29mi
834 Oak St Unit 834 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	19d	1	1.30mi
848 Oak St Columbus, OH	3.0	1.5	1428	$1,700	$1.19	43d	1	1.30mi
1282 Hunter Ave Columbus, OH	1.0–3.0	1.0–2.0	1350	$2,100	$1.56	7d	2	1.32mi
163 W 5th Ave Columbus, OH	3.0	3.0	1400	$1,895	$1.35	23d	1	1.34mi
1097 E 16th Ave Columbus, OH	3.0	1.0	1200	$1,300	$1.08	21d	1	1.34mi
1099 E 16th Ave Columbus, OH	3.0	1.0	1200	$1,300	$1.08	21d	1	1.34mi
122 Parsons Ave Columbus, OH	3.0	1.0–2.0	1135	$2,550	$2.25	1d	10	1.35mi
1669 Summit St Unit 1669 Columbus, OH	4.0	3.0	1300	$1,800	$1.38	43d	1	1.39mi
155 E Broad St Columbus, OH	1.0–3.0	1.0–3.5	1380	$7,435	$5.39	7d	41	1.40mi
54 W 8th Ave Columbus, OH	3.0	2.0	1200	$1,600	$1.33	43d	1	1.40mi
100 McMillen Ave Unit C Columbus, OH	3.0	2.0	1200	$1,649	$1.37	14d	1	1.42mi
50 E 11th Ave Columbus, OH	4.0	2.0	1000	$3,500	$3.50	43d	4	1.42mi
1529 N High St Columbus, OH	1.0–3.0	1.0–2.0	771	$4,107	$5.32	23d	1	1.43mi
1156 E 17th Ave Columbus, OH	3.0	1.0	1212	$1,200	$0.99	43d	1	1.44mi

Listing history 33 events

1. 2026-06-18
   days on market $199,000 Active 160 DOM
2. 2026-06-17
   days on market $199,000 Active 159 DOM
3. 2026-06-16
   days on market $199,000 Active 158 DOM
4. 2026-06-15
   days on market $199,000 Active 157 DOM
5. 2026-06-13
   days on market $199,000 Active 155 DOM
6. 2026-06-13
   days on market $199,000 Active 154 DOM
7. 2026-06-10
   price $199,000 Active 151 DOM
8. 2026-06-09
   days on market $204,000 Active 151 DOM
9. 2026-06-08
   days on market $204,000 Active 150 DOM
10. 2026-06-07
    days on market $204,000 Active 149 DOM
11. 2026-06-05
    days on market $204,000 Active 146 DOM
12. 2026-06-03
    days on market $204,000 Active 145 DOM
13. 2026-06-02
    days on market $204,000 Active 144 DOM
14. 2026-06-01
    days on market $204,000 Active 143 DOM
15. 2026-05-31
    days on market $204,000 Active 142 DOM
16. 2026-05-01
    price $209,000 715-char remark

    Show marketing remark (715 chars)

    Beautifully maintained 4-bedroom ranch offering a full basement and generous living space throughout. Situated on a desirable corner lot, this home features a spacious yard with plenty of room for outdoor entertaining, gardening, or future expansion. Ideally located just minutes from OSU, downtown Columbus, and the city's premier dining, shopping, and entertainment destinations, this property combines comfort, convenience, and an exceptional location. With its prime location near OSU and downtown, this home presents excellent investment potential, whether as a rental, house-or long-term appreciation asset. Strong demand in the area makes it attractive for investors seeking stable returns and future growth.

17. 2026-03-26
    price $214,900 715-char remark

    Show marketing remark (715 chars)

    Beautifully maintained 4-bedroom ranch offering a full basement and generous living space throughout. Situated on a desirable corner lot, this home features a spacious yard with plenty of room for outdoor entertaining, gardening, or future expansion. Ideally located just minutes from OSU, downtown Columbus, and the city's premier dining, shopping, and entertainment destinations, this property combines comfort, convenience, and an exceptional location. With its prime location near OSU and downtown, this home presents excellent investment potential, whether as a rental, house-or long-term appreciation asset. Strong demand in the area makes it attractive for investors seeking stable returns and future growth.

18. 2026-03-15
    price $219,000 715-char remark

    Show marketing remark (715 chars)

    Beautifully maintained 4-bedroom ranch offering a full basement and generous living space throughout. Situated on a desirable corner lot, this home features a spacious yard with plenty of room for outdoor entertaining, gardening, or future expansion. Ideally located just minutes from OSU, downtown Columbus, and the city's premier dining, shopping, and entertainment destinations, this property combines comfort, convenience, and an exceptional location. With its prime location near OSU and downtown, this home presents excellent investment potential, whether as a rental, house-or long-term appreciation asset. Strong demand in the area makes it attractive for investors seeking stable returns and future growth.

19. 2026-02-18
    price $224,000 715-char remark

    Show marketing remark (715 chars)

    Beautifully maintained 4-bedroom ranch offering a full basement and generous living space throughout. Situated on a desirable corner lot, this home features a spacious yard with plenty of room for outdoor entertaining, gardening, or future expansion. Ideally located just minutes from OSU, downtown Columbus, and the city's premier dining, shopping, and entertainment destinations, this property combines comfort, convenience, and an exceptional location. With its prime location near OSU and downtown, this home presents excellent investment potential, whether as a rental, house-or long-term appreciation asset. Strong demand in the area makes it attractive for investors seeking stable returns and future growth.

20. 2026-01-09
    listed $229,000 Active 715-char remark

    Show marketing remark (715 chars)

    Beautifully maintained 4-bedroom ranch offering a full basement and generous living space throughout. Situated on a desirable corner lot, this home features a spacious yard with plenty of room for outdoor entertaining, gardening, or future expansion. Ideally located just minutes from OSU, downtown Columbus, and the city's premier dining, shopping, and entertainment destinations, this property combines comfort, convenience, and an exceptional location. With its prime location near OSU and downtown, this home presents excellent investment potential, whether as a rental, house-or long-term appreciation asset. Strong demand in the area makes it attractive for investors seeking stable returns and future growth.

21. 2022-06-22
    price $1,250
22. 2011-11-17
    historical
23. 2011-05-19
    historical
24. 2011-05-16
    listed $15,900
25. 2010-01-28
    listed $29,900
26. 2008-08-15
    soldstatus $11,000
27. 2008-07-03
    historical
28. 2008-05-07
    listed $12,000
29. 2006-01-13
    soldstatus $79,000
30. 2005-12-07
    historical
31. 2005-09-26
    listed $64,900
32. 1991-07-16
    soldstatus $32,000
33. 1988-07-05
    soldstatus $39,000

ⓘ 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: $2,815 · $235/mo
• Projected year-2 tax: $2,960 · $247/mo
• Expected delta: +$145/yr (+$12/mo · 5.1%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥100°F today · 14 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: $22,172
• − Mortgage interest: −$11,147
• − Property taxes: −$2,815
• − Insurance: −$995
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$5,789
• Taxable loss: −$2,122
• Est. tax savings @ 24.0%: +$509
• After-tax cash flow: $1,692/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): 34,322
• Household income: $43,731
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 4913.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

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: ▼ -207.90%
• Current HPI: 321.7282
• Rent YoY: ▲ 2.14%
• 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

+435.9% since first listed

18 events — show timeline

• 2026-05-01 Price Changed $209,000 CBRMLS
• 2026-03-26 Price Changed $214,900 CBRMLS
• 2026-03-15 Price Changed $219,000 CBRMLS
• 2026-02-18 Price Changed $224,000 CBRMLS
• 2026-01-09 Listed $229,000 CBRMLS
• 2022-06-22 Price Changed $1,250 RENT.
• 2011-11-17 Listing Removed — CBRMLS
• 2011-05-19 Listing Removed — CBRMLS
• 2011-05-16 Listed $15,900 CBRMLS
• 2010-01-28 Listed $29,900 CBRMLS
• 2008-08-15 Sold (MLS) $11,000 CBRMLS
• 2008-07-03 Listing Removed — CBRMLS
• 2008-05-07 Listed $12,000 CBRMLS
• 2006-01-13 Sold (Public Records) $79,000 Public Records
• 2005-12-07 Listing Removed — CBRMLS
• 2005-09-26 Listed $64,900 CBRMLS
• 1991-07-16 Sold (Public Records) $32,000 Public Records
• 1988-07-05 Sold (Public Records) $39,000 Public Records

Property tax history

+9.2%/yr

Latest (2024): $2,815 · +1.3% YoY. Source: county tax records.