2009 Sullivant Ave #2009 · Columbus, OH 43223

$129,900

2 bd · 2.0 ba · 1,222 sqft · MultiFamily public records · 118 Days on market

Built 1919 6,098 sqft lot $106/sqft · 13% below area Est $149k · 13% under ↓ 2% since listing

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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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great opportunity to own a recently renovated duplex, each unit featuring 1 bedroom, 1 bathroom, and a bonus room ideal for an office or playroom. Recent updates include a new roof (2020), hot water tank, HVAC ducting and heat exchanger, new flooring and carpet, and new plumbing in the lower unit. Curb offers only. See A2A for leasing terms. Can be purchased as part of a package: 302 S Highland.

Key facts

• New plumbing
• New flooring
• Bonus room

Tags

• RECENTLY RENOVATED DUPLEX
• BONUS ROOM
• NEW ROOF
• NEW FLOORING
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 20d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $1,964/mo this rent would consume 50% of the median local household income ($47k/yr) (locally 1689% 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% 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 1919 — 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: 1.51% ✓
• Cap rate: 12.35%
• Cash-on-cash: 21.63%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

• ARV (median comp): $148,861
• List price: $129,900
• Delta: -12.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
653-655 S Wheatland Ave	0.55mi	2/—	1,281 (+5%)	11mo	$130,000	$101	57
683-685 S Wheatland Ave	0.57mi	2/—	1,281 (+5%)	13mo	$115,000	$90	54
187 Whitethorne Ave	0.39mi	2/—	1,344 (+10%)	22mo	$178,000	$132	47

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: 16.1%
• Equity multiple: 1.66×
• Total profit: $23,972
• Equity at exit: $19,369

10-year hold

• IRR: 25.8%
• Equity multiple: 3.43×
• Total profit: $88,471
• Equity at exit: $11,231

Cash invested: $36,372 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,964 high
• Mortgage (P&I): −$681
• Tax from tax record: −$161 /mo · $1,927/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $656

Break-even live

Break-even rent $1,134

Max offer price $129,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,964
Total (2 units)			$1,964

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2174 Sullivant Ave Columbus, OH	1.0	1.0	800	$775	$0.97	43d	1	0.22mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	43d	1	0.26mi
255 Belvidere Ave Columbus, OH	2.0	1.0	1144	$1,195	$1.04	16d	1	0.26mi
2203 Clarendon Ln Unit 2203 Columbus, OH	2.0	1.0	835	$1,000	$1.20	12d	1	0.27mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	43d	1	0.30mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.32mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	19d	1	0.37mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.37mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	43d	1	0.39mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	43d	1	0.45mi
2157 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.48mi
108 Columbian Ave Unit B Columbus, OH	2.0	1.0	820	$900	$1.10	7d	1	0.50mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.51mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	19d	1	0.51mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	12d	1	0.51mi
1773 W Mound St Unit 1799 Columbus, OH	1.0	1.0	700	$900	$1.29	43d	1	0.51mi
1773 W Mound St Unit 1803 Columbus, OH	1.0	1.0	700	$925	$1.32	43d	1	0.51mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.52mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	43d	1	0.52mi
490 Helen St Columbus, OH	2.0	1.0	840	$1,200	$1.43	43d	1	0.53mi
2173 W Mound St Unit A Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.53mi
2167 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.54mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	19d	1	0.56mi
436 Catherine St Columbus, OH	2.0	1.5	960	$1,300	$1.35	7d	1	0.57mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.58mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	0.58mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	3d	1	0.59mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.60mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.60mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	23d	1	0.70mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	0.70mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	10d	1	0.75mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	43d	1	0.75mi
1485 Walsh Ave Columbus, OH	2.0	1.0	720	$1,450	$2.01	23d	1	0.78mi
947 E Forest Creek Dr Columbus, OH	2.0	1.5	950	$1,200	$1.26	43d	2	0.82mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	0.85mi
800 Harrisburg Pike Unit 2 bedroom townhomes Columbus, OH	2.0	1.0	1250	$995	$0.80	43d	1	0.85mi
802 Harrisburg Pike Columbus, OH	2.0	1.0	1250	$995	$0.80	3d	1	0.85mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	3d	1	0.86mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	19d	1	0.86mi

Listing history 43 events

1. 2026-06-18
   days on market $129,900 Active 118 DOM
2. 2026-06-17
   days on market $129,900 Active 117 DOM
3. 2026-06-16
   days on market $129,900 Active 116 DOM
4. 2026-06-15
   days on market $129,900 Active 115 DOM
5. 2026-06-13
   days on market $129,900 Active 113 DOM
6. 2026-06-13
   days on market $129,900 Active 112 DOM
7. 2026-06-09
   days on market $129,900 Active 109 DOM
8. 2026-06-08
   days on market $129,900 Active 108 DOM
9. 2026-06-07
   pricedays on market $129,900 Active 107 DOM
10. 2026-06-05
    days on market $139,900 Active 104 DOM
11. 2026-06-03
    days on market $139,900 Active 103 DOM
12. 2026-06-02
    days on market $139,900 Active 102 DOM
13. 2026-06-01
    days on market $139,900 Active 101 DOM
14. 2026-05-31
    days on market $139,900 Active 100 DOM
15. 2026-05-07
    price $139,900 398-char remark

    Show marketing remark (398 chars)

    Great opportunity to own a recently renovated duplex, each unit featuring 1 bedroom, 1 bathroom, and a bonus room ideal for an office or playroom. Recent updates include a new roof (2020), hot water tank, HVAC ducting and heat exchanger, new flooring and carpet, and new plumbing in the lower unit. Curb offers only. See A2A for leasing terms. Can be purchased as part of a package: 302 S Highland.

16. 2026-04-28
    price $144,900 398-char remark

    Show marketing remark (398 chars)

    Great opportunity to own a recently renovated duplex, each unit featuring 1 bedroom, 1 bathroom, and a bonus room ideal for an office or playroom. Recent updates include a new roof (2020), hot water tank, HVAC ducting and heat exchanger, new flooring and carpet, and new plumbing in the lower unit. Curb offers only. See A2A for leasing terms. Can be purchased as part of a package: 302 S Highland.

17. 2026-04-21
    price $149,900 398-char remark

    Show marketing remark (398 chars)

    Great opportunity to own a recently renovated duplex, each unit featuring 1 bedroom, 1 bathroom, and a bonus room ideal for an office or playroom. Recent updates include a new roof (2020), hot water tank, HVAC ducting and heat exchanger, new flooring and carpet, and new plumbing in the lower unit. Curb offers only. See A2A for leasing terms. Can be purchased as part of a package: 302 S Highland.

18. 2026-02-20
    listed $154,900 Active 398-char remark

    Show marketing remark (398 chars)

    Great opportunity to own a recently renovated duplex, each unit featuring 1 bedroom, 1 bathroom, and a bonus room ideal for an office or playroom. Recent updates include a new roof (2020), hot water tank, HVAC ducting and heat exchanger, new flooring and carpet, and new plumbing in the lower unit. Curb offers only. See A2A for leasing terms. Can be purchased as part of a package: 302 S Highland.

19. 2026-01-12
    historical
20. 2025-12-02
    price $149,900
21. 2025-11-05
    price $159,900
22. 2025-10-22
    listed $165,000 Active
23. 2021-10-27
    soldstatus $125,000
24. 2021-10-26
    soldstatus $126,000 Closed
25. 2021-08-13
    status Pending
26. 2021-08-11
    price $134,900
27. 2021-07-30
    price $144,900
28. 2021-07-19
    listed $149,900 Active
29. 2020-04-01
    soldstatus $65,400
30. 2020-03-18
    soldstatus $65,390 Closed
31. 2020-01-28
    historical Contingent Finance and Inspection
32. 2019-12-05
    listed $69,900 Active
33. 2018-06-04
    historical
34. 2018-03-06
    status Active
35. 2018-02-04
    status Pending
36. 2018-01-02
    status Active
37. 2017-12-23
    status Pending
38. 2017-12-18
    listed $54,900 Active
39. 2017-03-21
    historical
40. 2017-03-21
    listed $54,900 Active
41. 1999-08-30
    soldstatus $47,500
42. 1990-10-05
    soldstatus $21,500
43. 1986-10-18
    soldstatus $143,000

ⓘ 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: $1,927 · $161/mo
• Projected year-2 tax: $1,977 · $165/mo
• Expected delta: +$50/yr (+$4/mo · 2.6%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,568
• − Mortgage interest: −$7,276
• − Property taxes: −$1,927
• − Insurance: −$650
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − Depreciation: −$3,779
• Taxable income: $6,166
• Est. tax owed @ 24.0%: −$1,480
• After-tax cash flow: $6,388/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

-2.2% since first listed

29 events — show timeline

• 2026-05-07 Price Changed $139,900 CBRMLS
• 2026-04-28 Price Changed $144,900 CBRMLS
• 2026-04-21 Price Changed $149,900 CBRMLS
• 2026-02-20 Listed $154,900 CBRMLS
• 2026-01-12 Listing Removed — CBRMLS
• 2025-12-02 Price Changed $149,900 CBRMLS
• 2025-11-05 Price Changed $159,900 CBRMLS
• 2025-10-22 Listed $165,000 CBRMLS
• 2021-10-27 Sold (Public Records) $125,000 Public Records
• 2021-10-26 Sold (MLS) $126,000 CBRMLS
• 2021-08-13 Pending — CBRMLS
• 2021-08-11 Price Changed $134,900 CBRMLS
• 2021-07-30 Price Changed $144,900 CBRMLS
• 2021-07-19 Listed $149,900 CBRMLS
• 2020-04-01 Sold (Public Records) $65,400 Public Records
• 2020-03-18 Sold (MLS) $65,390 CBRMLS
• 2020-01-28 Contingent — CBRMLS
• 2019-12-05 Listed $69,900 CBRMLS
• 2018-06-04 Listing Removed — CBRMLS
• 2018-03-06 Relisted — CBRMLS
• 2018-02-04 Pending — CBRMLS
• 2018-01-02 Relisted — CBRMLS
• 2017-12-23 Pending — CBRMLS
• 2017-12-18 Listed $54,900 CBRMLS
• 2017-03-21 Listing Removed — CBRMLS
• 2017-03-21 Listed $54,900 CBRMLS
• 1999-08-30 Sold (Public Records) $47,500 Public Records
• 1990-10-05 Sold (Public Records) $21,500 Public Records
• 1986-10-18 Sold (Public Records) $143,000 Public Records

Property tax history

+6.5%/yr

Latest (2024): $1,927 · -6.1% YoY. Source: county tax records.