1024 S Kellner Rd · Columbus, OH 43209

$179,900

4 bd · 0.0 ba · 1,716 sqft · MultiFamily · 6 Days on market

Built 1953 Good condition 10,454 sqft lot Est $237k · 24% under

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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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Rent growth +4.8/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• 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

Great investment opportunity in the heart of Eastmoor! This well-maintained duplex features spacious 2-bedroom, 1-bath units with hardwood floors and plenty of natural light. Situated on a large, oversized corner lot, the property offers a massive side yard and off-street parking. Conveniently located with easy access to E Main Street shopping, dining, and public transit. Perfect for an owner-occupant looking to house-hack or an investor seeking a turnkey addition to their portfolio.

Key facts

• Oversized corner lot
• Massive side yard
• Off street parking

Tags

• WELL MAINTAINED DUPLEX
• HARDWOOD FLOORS
• NATURAL LIGHT
• OVERSIZED CORNER LOT
• MASSIVE SIDE YARD
• OFF STREET PARKING

Property features AI

Finance

• Financial info: Owner pays water and sewer

Exterior

• Utilities: Water available; Sewer available; Natural gas available; Electricity available
• Home design: Duplex; Built in 1953
• Construction: Built in 1953
• Exterior features: Lot approximately 0.24 acres

Interior

• Bedrooms: Duplex with 2 total units
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Forced air heating; Central cooling

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive. Per door: $273/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.9% 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 (+9.4%/yr); 58 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 30% of the median local income ($90k/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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.26% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $236,808
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1077-1079 S James Rd	0.08mi	4/—	1,536 (-10%)	6mo	$195,000	$127	74
1013 James Rd	0.04mi	4/—	1,536 (-10%)	14mo	$220,000	$143	70
723-725 S Chesterfield Rd	0.49mi	4/—	1,748 (+2%)	7mo	$310,000	$177	68
802 S Weyant Ave	0.57mi	4/—	1,710 (-0%)	10mo	$180,000	$105	64
847-849 Byron Ave	0.56mi	5/— (+1)	1,704 (-1%)	20mo	$235,000	$138	51
688-690 S James Rd	0.51mi	4/—	1,900 (+11%)	19mo	$225,000	$118	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.35×
• Total profit: $17,634
• Equity at exit: $26,824

10-year hold

• IRR: 21.6%
• Equity multiple: 3.28×
• Total profit: $114,761
• Equity at exit: $15,554

Cash invested: $50,372 (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 43209

• Rents YoY: 9.4%
• Active inventory: 58
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,265 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $546

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,266
Total (2 units)			$2,265

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
914 S Weyant Ave Columbus, OH	3.0	1.5	1089	$1,099	$1.01	17d	1	0.44mi
1317 Barnett Rd Columbus, OH	3.0	1.0	1057	$1,299	$1.23	12d	1	0.60mi
525 S Everett Ave Columbus, OH	3.0	1.0	1137	$1,500	$1.32	15d	1	0.77mi
1634 S James Rd Columbus, OH	3.0	1.5	1120	$1,945	$1.74	44d	1	0.87mi
1728 Penfield Rd Columbus, OH	3.0	1.0	1224	$1,925	$1.57	44d	1	1.00mi
3409 Bexvie Ave Columbus, OH	2.0–3.0	1.5	990	$1,400	$1.41	2d	3	1.04mi
3486 Roswell Dr Columbus, OH	3.0	2.0	1116	$1,625	$1.46	44d	1	1.06mi
1246 Arkwood Ave Columbus, OH	3.0	1.0	1094	$1,740	$1.59	44d	1	1.10mi
3855 E Mound St Columbus, OH	3.0	1.0	1476	$1,885	$1.28	44d	1	1.12mi
384-386 S Napoleon Ave Columbus, OH	3.0	1.5	1140	$1,350	$1.18	44d	1	1.14mi
1892 Somerset Ct E Columbus, OH	4.0	2.0	1300	$1,725	$1.33	24d	1	1.24mi
65 S Gould Rd Columbus, OH	3.0	2.5	1935	$3,350	$1.73	10d	1	1.40mi
2200 E Main St Bexley, OH	3.0	1.0–3.0	1142	$4,678	$4.10	2d	137	1.40mi
3191 E Broad St Columbus, OH	4.0	2.0	2048	$2,200	$1.07	19d	1	1.46mi

Listing history 6 events

1. 2026-06-08
   status $179,900 Pending 6 DOM
2. 2026-06-07
   days on market $179,900 Active 6 DOM
3. 2026-06-05
   days on market $179,900 Active 3 DOM
4. 2026-06-03
   days on market $179,900 Active 2 DOM
5. 2026-06-02
   remarks 488-char remark
6. 2026-06-02
   listed $179,900 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,180
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,174
• − Management: −$2,174
• − Depreciation: −$5,233
• Taxable income: $3,923
• Est. tax owed @ 24.0%: −$941
• After-tax cash flow: $5,612/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained duplex is in good condition with no major repairs needed. It offers a good investment opportunity with potential for cosmetic updates to increase its value.

Value-add opportunities

• Both Paint exterior siding — Painting the exterior siding can improve the curb appeal and increase the home's value.
• Both Clean gutters — Cleaning gutters can improve the home's appearance and prevent water damage to the exterior of the home.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Painting the exterior siding can improve the curb appeal and increase the home's value. ↑
• Both Clean gutters — Cleaning gutters can improve the home's appearance and prevent water damage to the exterior of the home. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 28,193
• Household income: $89,713
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1110.0

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 (66%)
• Race & ethnicity: White 66% Black 25% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Arabic 2% Russian/Polish/Slavic 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: ▼ -405.11%
• Current HPI: 287.281
• Rent YoY: ▲ 9.36%
• 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

1 event — show timeline

• 2026-06-01 Listed $179,900 CBRMLS