226 Midland Ave · Columbus, OH 43223

$86,000

4 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 14 Days on market

Built 1920 5,227 sqft lot

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

Listing remarks MLS

A handyman or rehabbers dream come true. Lots of potential for the first time buyer or fix it for flip or rental. It has 3rd floor with the 4th bedroom or home office. some newer windows. It has a full basement with lots of storage. The property does need work but is priced accordingly. Call today to see this daimond in the rough. All offers will be considered, call to set up a showing today.

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 14 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1920; No shared/common walls
• Construction: Built 1920
• Exterior features: Block foundation; Lot approximately 0.12 acre

Interior

• Flooring: Wood flooring; Carpeted areas
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Decorative fireplace; Insulated partial windows; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Cap rate 13.9% 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 fast (+4.6%/yr); 147 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 39% 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 $595 of loan paydown is wiped out by about $3k 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 + 4.6% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 $12k; list at $86k implies a 617% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,000

Questions for the listing agent

1. Built in 1920 — 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: 1.77% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.09%
• DSCR: 2.21
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $185,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
237 Midland Ave	0.03mi	4/1.0	1,452 (+11%)	1mo	$159,000	$110	79
283 Whitethorne Ave	0.09mi	3/1.5 (-1)	1,376 (+6%)	1mo	$170,000	$124	79
1930 Floral Ave	0.38mi	3/1.5 (-1)	1,328 (+2%)	1mo	$220,000	$166	72
479 Nashoba Ave	0.48mi	3/1.0 (-1)	1,332 (+2%)	2mo	$119,000	$89	68
246 S Terrace Ave	0.47mi	3/1.0 (-1)	1,232 (-6%)	0mo	$205,000	$166	64
321 Belvidere Ave	0.18mi	3/1.0 (-1)	1,494 (+15%)	1mo	$85,000	$57	61
557 Woodbury Ave	0.68mi	3/1.0 (-1)	1,312 (+1%)	2mo	$199,000	$152	61
427 S Richardson Ave	0.63mi	4/1.0	1,378 (+6%)	0mo	$160,000	$116	61
1924 Sullivant Ave	0.43mi	3/2.5 (-1)	1,360 (+4%)	2mo	$210,000	$154	60
330 S Richardson Ave	0.56mi	3/1.5 (-1)	1,381 (+6%)	2mo	$196,000	$142	56
229 S Richardson Ave	0.56mi	3/1.0 (-1)	1,168 (-10%)	1mo	$165,000	$141	51
121 N Terrace Ave	0.75mi	3/2.0 (-1)	1,447 (+11%)	1mo	$230,000	$159	37

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: 23.0%
• Equity multiple: 1.97×
• Total profit: $23,257
• Equity at exit: $12,823

10-year hold

• IRR: 32.1%
• Equity multiple: 4.14×
• Total profit: $75,704
• Equity at exit: $7,436

Cash invested: $24,080 (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: 147
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$451
• Tax from tax record: −$171 /mo · $2,048/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $544

Break-even live

Break-even rent $832

Max offer price $86,000

Occupancy floor 59%

Sensitivity live

Price	-10% $592	-5% $568	+0% $544	+5% $519	+10% $495
Rent	-10% $424	-5% $484	+0% $544	+5% $604	+10% $664
Rate	-1.0pp $587	-0.5pp $566	base $544	+0.5pp $521	+1.0pp $499

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	4d	1	0.18mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	20d	1	0.18mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	44d	1	0.33mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	18d	1	0.35mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	24d	1	0.37mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	44d	1	0.41mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	4d	1	0.42mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	20d	1	0.57mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	4d	1	0.57mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	24d	1	0.59mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	24d	1	0.59mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	44d	1	0.60mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	24d	1	0.63mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	15d	1	0.64mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	11d	1	0.68mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	13d	1	0.68mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	44d	1	0.69mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	22d	1	0.78mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	44d	1	0.78mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	4d	1	0.78mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	3d	1	0.79mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	15d	1	0.81mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	13d	1	0.81mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	4d	1	0.82mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	44d	1	0.84mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	44d	1	0.87mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	44d	1	0.88mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	24d	1	0.89mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	4d	1	0.89mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	4d	1	0.89mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	22d	1	0.92mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	44d	1	0.96mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	44d	1	1.00mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	8d	1	1.04mi
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	44d	1	1.08mi
2735 Sutton Ave Columbus, OH	3.0	1.0	1099	$1,175	$1.07	4d	1	1.08mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$1,295	$1.37	15d	12	1.10mi
43-45 N Chase Ave Unit 43 Columbus, OH	3.0	1.0	1200	$1,400	$1.17	11d	1	1.11mi
43 N Chase Ave Columbus, OH	3.0	1.0	1200	$1,400	$1.17	11d	1	1.12mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	24d	1	1.18mi

Listing history 10 events

1. 2026-05-16
   status Active
2. 2026-05-11
   status Pending
3. 2026-05-09
   listed $86,000 Active
4. 2026-05-08
   historical $86,000
5. 2020-08-01
   historical
6. 2020-03-17
   listed $116,900 Active
7. 2017-02-10
   soldstatus $12,000 Closed 396-char remark

   Show marketing remark (396 chars)

   A handyman or rehabbers dream come true. Lots of potential for the first time buyer or fix it for flip or rental. It has 3rd floor with the 4th bedroom or home office. some newer windows. It has a full basement with lots of storage. The property does need work but is priced accordingly. Call today to see this daimond in the rough. All offers will be considered, call to set up a showing today.

8. 2017-02-02
   status Pending 396-char remark

   Show marketing remark (396 chars)

   A handyman or rehabbers dream come true. Lots of potential for the first time buyer or fix it for flip or rental. It has 3rd floor with the 4th bedroom or home office. some newer windows. It has a full basement with lots of storage. The property does need work but is priced accordingly. Call today to see this daimond in the rough. All offers will be considered, call to set up a showing today.

9. 2017-01-18
   listed $14,997 Active 396-char remark

   Show marketing remark (396 chars)

   A handyman or rehabbers dream come true. Lots of potential for the first time buyer or fix it for flip or rental. It has 3rd floor with the 4th bedroom or home office. some newer windows. It has a full basement with lots of storage. The property does need work but is priced accordingly. Call today to see this daimond in the rough. All offers will be considered, call to set up a showing today.

10. 1994-12-20
    soldstatus $37,938

ⓘ 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: $2,048 · $171/mo
• Projected year-2 tax: $2,048 · $171/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,246
• − Mortgage interest: −$4,817
• − Property taxes: −$2,048
• − Insurance: −$430
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$2,502
• Taxable income: $5,529
• Est. tax owed @ 24.0%: −$1,327
• After-tax cash flow: $5,197/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

+126.7% since first listed

10 events — show timeline

• 2026-05-16 Relisted — CBRMLS
• 2026-05-11 Pending — CBRMLS
• 2026-05-09 Listed $86,000 CBRMLS
• 2026-05-08 Coming Soon $86,000 CBRMLS
• 2020-08-01 Listing Removed — CBRMLS
• 2020-03-17 Listed $116,900 CBRMLS
• 2017-02-10 Sold (MLS) $12,000 CBRMLS
• 2017-02-02 Pending — CBRMLS
• 2017-01-18 Listed $14,997 CBRMLS
• 1994-12-20 Sold (Public Records) $37,938 Public Records

Property tax history

+12.7%/yr

Latest (2024): $2,048 · -2.8% YoY. Source: county tax records.