427 N Garfield Ave · Columbus, OH 43203

$188,000

4 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 1 Days on market

Built 1890 3,049 sqft lot Est $249k · 25% under

---

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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity on this 4 bedroom/2 full bath home in the King Lincoln District neighborhood, just minutes to Downtown, Short North and Olde Towne East. Large rooms, corner lot with option to build side load garage, large attic with dormer would make a great master suite and has ability to add a 3rd full bath. Attic square footage not reflected in total sqft. Would make a great flip project! Home is being sold As-Is.

Key facts

• 3,049 sq ft lot
• Built 1890

Property features AI

Finance

• Other: Standard listing conditions
• Financial info: Property taxes listed (annual amount provided)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Three levels; No common walls; Built in 1890
• Construction: Block and stone foundation
• Exterior features: Lot in the King Lincoln District

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Living area of 1440

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Cap rate 8.3% 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 (+5.0%/yr); 94 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $2,019/mo this rent would consume 51% of the median local household income ($48k/yr) (locally 859% 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 25y 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 $158k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,000

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.07% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $249,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 N Garfield Ave	0.00mi	4/2.0	1,440 (0%)	8mo	$157,500	$109	93
861 Old Leonard Ave #859	0.10mi	3/2.5 (-1)	1,518 (+5%)	7mo	$125,000	$82	74
468 Sawyer Blvd	0.19mi	3/1.5 (-1)	1,314 (-9%)	10mo	$268,000	$204	61
765 E 2nd Ave	0.57mi	3/1.5 (-1)	1,380 (-4%)	2mo	$244,900	$177	58
445 N Ohio Ave	0.53mi	3/1.5 (-1)	1,470 (+2%)	10mo	$203,000	$138	57
463 N Champion Ave	0.60mi	4/1.0	1,563 (+8%)	2mo	$115,000	$74	52
777 Mayme Moore Pl	0.31mi	3/1.5 (-1)	1,232 (-14%)	10mo	$267,000	$217	46
1017 Madison Ave	0.74mi	3/2.0 (-1)	1,542 (+7%)	8mo	$345,000	$224	42
1250 Hildreth Ave	0.57mi	3/1.0 (-1)	1,248 (-13%)	1mo	$105,000	$84	42
1268 Hildreth Ave	0.59mi	3/1.0 (-1)	1,344 (-7%)	13mo	$232,000	$173	42
515 N Ohio Ave	0.56mi	3/1.5 (-1)	1,280 (-11%)	14mo	$210,000	$164	37
1035 Madison Ave	0.74mi	3/1.5 (-1)	1,611 (+12%)	3mo	$324,900	$202	36

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,773
• Equity at exit: $28,031

10-year hold

• IRR: 8.9%
• Equity multiple: 1.75×
• Total profit: $39,385
• Equity at exit: $16,255

Cash invested: $52,640 (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 43203

• Home prices YoY: -31.9%
• Rents YoY: 5.0%
• Active inventory: 94
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,019 high
• Mortgage (P&I): −$986
• Tax from tax record: −$209 /mo · $2,510/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $321

Break-even live

Break-even rent $1,612

Max offer price $188,000

Occupancy floor 79%

Sensitivity live

Price	-10% $428	-5% $375	+0% $321	+5% $268	+10% $215
Rent	-10% $162	-5% $242	+0% $321	+5% $401	+10% $481
Rate	-1.0pp $416	-0.5pp $369	base $321	+0.5pp $273	+1.0pp $223

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 N Monroe Ave Columbus, OH	4.0	2.0	1616	$2,399	$1.48	44d	1	0.26mi
250 N 21st St Columbus, OH	3.0	2.5	1452	$2,600	$1.79	44d	1	0.47mi
1216 Atcheson St Columbus, OH	3.0	2.0	1092	$1,550	$1.42	4d	1	0.53mi
791-793 E Starr Ave Unit 793 Columbus, OH	3.0	1.0	1144	$1,230	$1.08	24d	1	0.59mi
793 E Starr Ave Columbus, OH	3.0	1.0	1144	$1,230	$1.08	24d	1	0.59mi
62 N 20th St Columbus, OH	3.0	1.0	1100	$1,595	$1.45	44d	1	0.61mi
1308-1310 Mount Vernon Ave Unit 1308 Columbus, OH	3.0	2.0	1400	$1,695	$1.21	44d	1	0.67mi
830 Oak St Columbus, OH	3.0	2.5	1451	$2,500	$1.72	8d	1	0.74mi
830 Oak St Unit 830 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	20d	1	0.75mi
834 Oak St Columbus, OH	3.0	2.5	1400	$2,500	$1.79	8d	1	0.75mi
844-848 Oak St Unit 848 Columbus, OH	3.0	1.5	1517	$1,700	$1.12	44d	1	0.75mi
834 Oak St Unit 834 Columbus, OH	3.0	2.5	1450	$2,500	$1.72	20d	1	0.75mi
848 Oak St Columbus, OH	3.0	1.5	1428	$1,700	$1.19	44d	1	0.75mi
122 Parsons Ave Columbus, OH	3.0	1.0–2.0	1135	$2,550	$2.25	2d	10	0.86mi
366 E Broad St Columbus, OH	1.0–3.0	1.0–2.0	964	$2,350	$2.44	3d	9	0.91mi
1117-1119 Franklin Ave Columbus, OH	3.0	1.0	1288	$1,525	$1.18	44d	1	1.01mi
143 Sherman Ave Unit 301 Columbus, OH	3.0	2.0	1630	$2,450	$1.50	2d	1	1.01mi
1174 Walters St Columbus, OH	3.0	1.0	1200	$1,549	$1.29	44d	1	1.04mi
802 E Main St Unit 804 Columbus, OH	3.0	2.5	1050	$1,500	$1.43	44d	1	1.09mi
804 E Main St Columbus, OH	3.0	2.5	1050	$1,500	$1.43	44d	1	1.09mi
1445 E Broad St Columbus, OH	1.0–5.0	1.0–5.0	2164	$2,835	$1.31	2d	4	1.10mi
282-284 S Ohio Ave Columbus, OH	3.0	2.0	1477	$1,699	$1.15	24d	1	1.11mi
439 Eldridge Ave Unit 439 Columbus, OH	3.0	1.0	946	$1,200	$1.27	24d	1	1.15mi
726 Kerr St Columbus, OH	3.0	1.0	986	$2,200	$2.23	44d	1	1.16mi
155 E Broad St Columbus, OH	1.0–3.0	1.0–3.5	1380	$7,435	$5.39	8d	41	1.19mi
1438 Fair Ave Unit 1438 Columbus, OH	3.0	2.5	1800	$2,550	$1.42	2d	1	1.19mi
741-743 E Mound St Columbus, OH	3.0	1.5	1528	$1,645	$1.08	44d	1	1.21mi
741-743 E Mound St Columbus, OH	3.0	1.5	1528	$1,645	$1.08	8d	1	1.21mi
153 Punta Aly Columbus, OH	3.0	1.5	1358	$2,100	$1.55	44d	1	1.25mi
138 Sommerfeld Pl Columbus, OH	1.0–3.0	1.0–2.5	1212	$2,030	$1.67	3d	21	1.27mi
461 Oakwood Ave Columbus, OH	3.0	1.5	1386	$1,845	$1.33	44d	1	1.37mi
1206 N 4th St Columbus, OH	3.0	1.0–3.0	971	$3,279	$3.38	3d	44	1.38mi
1102 Summit St Columbus, OH	3.0	2.5	1808	$3,200	$1.77	44d	1	1.38mi
1094 Say Ave Columbus, OH	3.0	2.0	1400	$2,995	$2.14	44d	1	1.43mi

Listing history 2 events

1. 2026-06-17
   remarks 423-char remark
2. 2026-06-17
   listed $188,000 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: $2,510 · $209/mo
• Projected year-2 tax: $2,722 · $227/mo
• Expected delta: +$211/yr (+$18/mo · 8.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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: $24,225
• − Mortgage interest: −$10,531
• − Property taxes: −$2,510
• − Insurance: −$940
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − Depreciation: −$5,469
• Taxable income: $899
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $3,641/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): 8,618
• Household income: $47,572
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 859.0

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 0.56)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Lithuanian 1% Romanian 1% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 86% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 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: ▼ -102.09%
• Current HPI: 217.3929
• Rent YoY: ▲ 5.03%
• 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

+724.6% since first listed

26 events — show timeline

• 2026-06-15 Listed $188,000 CBRMLS
• 2025-10-22 Sold (Public Records) $157,500 Public Records
• 2025-10-17 Sold (MLS) $157,500 CBRMLS
• 2025-09-29 Contingent — CBRMLS
• 2025-09-25 Price Changed $163,500 CBRMLS
• 2025-09-09 Price Changed $165,000 CBRMLS
• 2025-09-05 Price Changed $167,500 CBRMLS
• 2025-08-25 Price Changed $169,500 CBRMLS
• 2025-08-18 Price Changed $172,500 CBRMLS
• 2025-08-11 Listed $175,000 CBRMLS
• 2011-05-16 Sold (Public Records) $39,000 Public Records
• 2008-02-13 Listing Removed — CBRMLS
• 2007-08-30 Listing Removed — CBRMLS
• 2007-08-13 Listed $80,000 CBRMLS
• 2007-06-28 Listed $68,000 CBRMLS
• 2005-08-17 Listing Removed — CBRMLS
• 2005-02-16 Listed $60,000 CBRMLS
• 2004-03-04 Sold (MLS) $25,000 CBRMLS
• 2004-02-19 Listing Removed — CBRMLS
• 2003-11-25 Listed $29,900 CBRMLS
• 2001-04-20 Sold (MLS) $13,000 CBRMLS
• 2001-03-28 Listing Removed — CBRMLS
• 2001-01-29 Listed $14,900 CBRMLS
• 1995-03-15 Sold (Public Records) $24,500 Public Records
• 1993-07-08 Sold (Public Records) $27,000 Public Records
• 1990-03-08 Sold (Public Records) $22,800 Public Records

Property tax history

+28.8%/yr

Latest (2024): $2,510 · +1.3% YoY. Source: county tax records.