1445 E Main Unit 458 Miller Ave · Columbus, OH 43205

$1,195,000

12 bd · 0.0 ba · 10,004 sqft · MultiFamily · 85 Days on market

Built 1912 Good condition 0.28 ac lot $119/sqft · 24% below area Est $1.567M · 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Corner location in Olde Towne East! 11-units all Turn-Key Condition!! 2-buildings on 1 parcel! 1445-1447 East Main St Downstairs -Two commercial store fronts. 1445 1/2 East Main upstairs 2nd floor - Three large 2-bed, 1-bath apartments. 458 - 462 Miller Ave rear building 'The Motor Lodge' Six 1-bed, 1-bath apartments. Well maintained building & All units are nicely updated & occupied with great tenants! Rents as follows: 458 Miller $825, 458.5 Miller $795, 460 Miller $845, 460.5 Miller $795, 462 Miller $795, 462.

Key facts

• Nicely updated units
• Turn-key condition
• Six apartments

Tags

• TURN-KEY CONDITION
• TWO COMMERCIAL STORE FRONTS
• THREE LARGE APARTMENTS
• SIX APARTMENTS
• WELL MAINTAINED BUILDING
• NICELY UPDATED UNITS

What this means for you Summary

Snapshot

• This is a 1×2bd/?ba + 10×1bd/?ba units multifamily listed at $1.20M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $222/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.20M).
• Recommended offer: $1.12M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.9% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Columbus Alternative High School (math 27% / reading 74%, grade D+, #380 of 781 statewide, top 49%, 758 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 20% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 179 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k 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 85 days — a 6% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,123,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% 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 1912 — 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: 1.13% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.76%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $1,567,482
• List price: $1,195,000
• Delta: -23.76%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1087 Stanley Ave	1.00mi	12/—	9,660 (-3%)	2mo	$875,000	$91	57
1087 Stanley Ave #1097	1.00mi	12/—	9,660 (-3%)	21mo	$615,000	$64	42
1106-1116 Parsons Ave	1.65mi	12/—	9,792 (-2%)	35mo	$975,000	$100	42
1411 Gault St	0.49mi	12/—	8,064 (-19%)	38mo	$600,000	$74	32
155 N 17th St	1.16mi	10/— (-2)	7,540 (-25%)	3mo	$875,000	$116	28
904 E Livingston Ave	0.86mi	14/— (+2)	12,330 (+23%)	4mo	$950,000	$77	26
387-393 Saint Clair Ave	1.51mi	12/—	8,388 (-16%)	31mo	$625,000	$75	20
1038 Lockbourne Rd	0.89mi	12/—	7,257 (-28%)	51mo	$675,000	$93	20
737 Franklin Ave	1.10mi	12/—	7,127 (-29%)	56mo	$800,000	$112	20
2353-2359 E Livingston Ave	1.58mi	10/— (-2)	8,097 (-19%)	40mo	$549,900	$68	10
899 E Whittier St	1.16mi	12/4.0	7,410 (-26%)	24mo	$699,900	$94	4

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-37,843
• Equity at exit: $178,178

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $168,229
• Equity at exit: $103,322

Cash invested: $334,600 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 1 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43205

• Active inventory: 179
• Price-to-rent: 94.8×

Monthly cashflow live

• Estimated rent: $13,546 high
• Mortgage (P&I): −$6,267
• Tax est. 1.5%: −$1,494 /mo · $17,925/yr
• Insurance: −$498
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,845
• Net cashflow: $2,443

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

Units	Beds	Baths	Est. rent
1× unit	2	—	$1,050
▸ 10× units	1	—	$12,500
Total (11 units)			$13,546

Break-even live

Break-even rent $10,454

Max offer price $1,195,000

Occupancy floor 77%

Sensitivity live

Price	-10% $3,269	-5% $2,856	+0% $2,443	+5% $2,030	+10% $1,617
Rent	-10% $1,373	-5% $1,908	+0% $2,443	+5% $2,978	+10% $3,513
Rate	-1.0pp $3,045	-0.5pp $2,747	base $2,443	+0.5pp $2,133	+1.0pp $1,818

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: $298,750
• Closing costs: $35,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1445 E Main St Unit A Columbus, OH	2.0	1.0	1250	$1,050	$0.84	59d	1	0.04mi
1384 E Main St Columbus, OH	—	2.0	1275	$2,000	$1.57	93d	1	0.06mi
361 Loeffler Ave Columbus, OH	2.0	2.5	1399	$2,100	$1.50	66d	1	0.09mi
357 Loeffler Ave Columbus, OH	2.0	1.5	—	$2,100	—	37d	1	0.09mi
344 Loeffler Ave Columbus, OH	2.0	1.0	1004	$1,650	$1.64	93d	1	0.10mi
351 Loeffler Ave Columbus, OH	2.0	1.5	—	$2,100	—	66d	1	0.10mi
1301 E Rich St Columbus, OH	1.0	1.0	492	$1,095	$2.23	21d	1	0.14mi
1324 E Main St Unit 1326 Columbus, OH	1.0	1.0	450	$750	$1.67	47d	1	0.15mi
522 Kelton Ave Columbus, OH	2.0	2.0	1108	$1,995	$1.80	93d	1	0.19mi
1392 Bryden Rd Columbus, OH	1.0	1.0	575	$965	$1.68	29d	1	0.20mi
331 Kendall Pl Apt I Columbus, OH	1.0	1.0	490	$995	$2.03	93d	1	0.21mi
1551 Bryden Rd Columbus, OH	1.0	1.0	450	$875	$1.94	25d	6	0.21mi
1447 E Fulton St Apt E Columbus, OH	1.0	1.0	531	$900	$1.69	41d	1	0.23mi
243 Miller Ave Unit 243 Columbus, OH	2.0	1.0	980	$1,375	$1.40	93d	1	0.24mi
1580 E Mound St Unit J Columbus, OH	2.0	1.0	800	$895	$1.12	56d	1	0.25mi
1580 E Mound St Apt E Columbus, OH	2.0	1.0	800	$1,150	$1.44	56d	1	0.25mi
1581 E Mound St Unit 3A Columbus, OH	2.0	1.0	900	$900	$1.00	41d	1	0.26mi
597 Lilley Ave Columbus, OH	2.0	1.5	1300	$1,550	$1.19	93d	1	0.29mi
366 Berkeley Rd Columbus, OH	2.0	1.0	2520	$1,550	$0.62	29d	1	0.30mi
196 Miller Ave Columbus, OH	2.0	2.0	1000	$1,250	$1.25	93d	1	0.33mi
309 Wilson Ave Columbus, OH	2.0	2.0	—	$1,440	—	69d	1	0.33mi
1599 Oak St Columbus, OH	2.0	2.0	1117	$1,747	$1.56	17d	3	0.34mi
1505 Franklin Park S Unit D-9 Columbus, OH	2.0	1.0	800	$1,250	$1.56	34d	1	0.36mi
1505 Franklin Park S Apt A4 Columbus, OH	1.0	1.0	700	$995	$1.42	34d	1	0.36mi
1339 Mooberry St Columbus, OH	2.0	1.0	—	$1,300	—	56d	1	0.36mi
1339 Mooberry St Columbus, OH	2.0	1.0	—	$1,300	—	34d	1	0.36mi
1339 Mooberry St Columbus, OH	2.0	1.0	—	$1,300	—	32d	1	0.36mi
1621-1631 Oak St Columbus, OH	2.0	1.0	1253	$1,340	$1.07	52d	1	0.37mi
1179 E Main St Columbus, OH	1.0	1.0	882	$1,450	$1.64	18d	2	0.37mi
1692 Bryden Rd Apt D Columbus, OH	1.0	1.0	700	$1,000	$1.43	17d	1	0.38mi
1272 Kent St Unit 2 Columbus, OH	2.0	1.0	1152	$1,250	$1.09	47d	1	0.41mi
1272 Kent St Columbus, OH	2.0	1.0	1152	$1,250	$1.09	51d	1	0.41mi
1406 Kent St Columbus, OH	2.0	2.0	974	$1,250	$1.28	29d	1	0.41mi
1683 1/2 Oak St Columbus, OH	1.0	1.0	—	$895	—	93d	1	0.43mi
1319 Fair Ave Columbus, OH	1.0	1.0	750	$999	$1.33	21d	1	0.44mi
1170 Bryden Rd Unit D Columbus, OH	2.0	1.0	—	$1,295	—	73d	1	0.44mi
1309 Fair Ave Columbus, OH	2.0	1.0	750	$999	$1.33	26d	1	0.44mi
1309 Fair Ave Columbus, OH	1.0	1.0	750	$899	$1.20	29d	1	0.44mi
1309 Fair Ave Columbus, OH	2.0	1.0	850	$1,050	$1.24	56d	1	0.44mi
429 1/2 S Champion Ave Columbus, OH	1.0	1.0	—	$1,350	—	56d	1	0.47mi

Property features AI

Finance

• Other: Tax annual amount listed (2025)
• Financial info: Net operating income reported: $36,870.21Operating expense reported: $1Owner pays water

Exterior

• Parking: Common parking with 15 spaces
• Utilities: Public water availablePublic sewer availableNatural gas availableElectricity availableStorm sewer available
• Home design: Built in 1912Mixed Use property type
• Construction: Year built: 1912
• Exterior features: 0.28-acre lotNo additional parcelsLocated in the Olde Towne East - South of Main subdivisionCorner of Main Street and 458 Miller Ave (street address includes unit)

Interior

• Heating & cooling: Central air conditioning
• Interior features: Mixed use property

Listing history 50 events

1. 2026-08-08
   days on market $1,195,000 Active 85 DOM
2. 2026-08-07
   days on market $1,195,000 Active 84 DOM
3. 2026-08-06
   days on market $1,195,000 Active 83 DOM
4. 2026-08-05
   days on market $1,195,000 Active 82 DOM
5. 2026-08-04
   days on market $1,195,000 Active 81 DOM
6. 2026-08-03
   days on market $1,195,000 Active 80 DOM
7. 2026-07-31
   days on market $1,195,000 Active 77 DOM
8. 2026-07-30
   days on market $1,195,000 Active 76 DOM
9. 2026-07-30
   days on market $1,195,000 Active 75 DOM
10. 2026-07-28
    days on market $1,195,000 Active 74 DOM
11. 2026-07-26
    days on market $1,195,000 Active 72 DOM
12. 2026-07-24
    days on market $1,195,000 Active 70 DOM
13. 2026-07-23
    days on market $1,195,000 Active 69 DOM
14. 2026-07-22
    days on market $1,195,000 Active 68 DOM
15. 2026-07-21
    days on market $1,195,000 Active 67 DOM
16. 2026-07-20
    days on market $1,195,000 Active 66 DOM
17. 2026-07-18
    days on market $1,195,000 Active 64 DOM
18. 2026-07-18
    days on market $1,195,000 Active 63 DOM
19. 2026-07-16
    days on market $1,195,000 Active 62 DOM
20. 2026-07-15
    days on market $1,195,000 Active 61 DOM
21. 2026-07-14
    days on market $1,195,000 Active 60 DOM
22. 2026-07-13
    days on market $1,195,000 Active 59 DOM
23. 2026-07-13
    days on market $1,195,000 Active 58 DOM
24. 2026-07-12
    days on market $1,195,000 Active 57 DOM
25. 2026-07-10
    days on market $1,195,000 Active 56 DOM
26. 2026-07-09
    days on market $1,195,000 Active 55 DOM
27. 2026-07-07
    days on market $1,195,000 Active 53 DOM
28. 2026-07-06
    days on market $1,195,000 Active 52 DOM
29. 2026-07-05
    days on market $1,195,000 Active 51 DOM
30. 2026-07-03
    days on market $1,195,000 Active 49 DOM
31. 2026-07-02
    days on market $1,195,000 Active 48 DOM
32. 2026-07-01
    days on market $1,195,000 Active 47 DOM
33. 2026-06-30
    days on market $1,195,000 Active 46 DOM
34. 2026-06-29
    days on market $1,195,000 Active 45 DOM
35. 2026-06-28
    days on market $1,195,000 Active 44 DOM
36. 2026-06-27
    days on market $1,195,000 Active 43 DOM
37. 2026-06-27
    days on market $1,195,000 Active 42 DOM
38. 2026-06-25
    days on market $1,195,000 Active 40 DOM
39. 2026-06-22
    days on market $1,195,000 Active 38 DOM
40. 2026-06-21
    days on market $1,195,000 Active 37 DOM
41. 2026-06-18
    days on market $1,195,000 Active 34 DOM
42. 2026-06-17
    days on market $1,195,000 Active 33 DOM
43. 2026-06-16
    days on market $1,195,000 Active 32 DOM
44. 2026-06-15
    days on market $1,195,000 Active 31 DOM
45. 2026-06-13
    days on market $1,195,000 Active 29 DOM
46. 2026-06-13
    days on market $1,195,000 Active 28 DOM
47. 2026-06-09
    days on market $1,195,000 Active 25 DOM
48. 2026-06-08
    days on market $1,195,000 Active 24 DOM
49. 2026-06-07
    days on market $1,195,000 Active 23 DOM
50. 2026-06-05
    days on market $1,195,000 Active 20 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $162,552
• − Mortgage interest: −$66,939
• − Property taxes: −$17,925
• − Insurance: −$5,975
• − Repairs & maintenance: −$13,004
• − Management: −$13,004
• − Depreciation: −$34,764
• Taxable income: $10,941
• Est. tax owed @ 24.0%: −$2,626
• After-tax cash flow: $26,690/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 · 14 photos

Good 80/100 Cosmetic rehab Est. rehab $50,020–$150,060 screening

This multi-family property is in good condition with well-maintained exteriors and interiors. It offers a good investment opportunity with potential for minor cosmetic updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the kitchen appliances — Modernizing the kitchen appliances can improve the overall look and functionality of the space, making it more appealing to potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Ohio Avenue Elementary School F OH #1,554/1,584 Nat'l #40,579/41,679 Middle Champion Middle School F OH #642/654 Nat'l #13,275/14,009 High Bexley High School A OH #4/781 Nat'l #564/17,239

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

A Composite livability gradescore 81/100

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 · 1,456,139 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 12,618
• Household income: $60,181
• Rent vs Own: 62.7% rent · 37.3% own
• Severe rent burden: 15% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 47% White 42% Two or more races 7% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

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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: ▼ -282.36%
• Current HPI: 212.5692
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

Property features AI

Finance

• Other: Tax annual amount listed (2025)
• Financial info: Net operating income reported: $36,870.21Operating expense reported: $1Owner pays water

Exterior

• Parking: Common parking with 15 spaces
• Utilities: Public water availablePublic sewer availableNatural gas availableElectricity availableStorm sewer available
• Home design: Built in 1912Mixed Use property type
• Construction: Year built: 1912
• Exterior features: 0.28-acre lotNo additional parcelsLocated in the Olde Towne East - South of Main subdivisionCorner of Main Street and 458 Miller Ave (street address includes unit)

Interior

• Heating & cooling: Central air conditioning
• Interior features: Mixed use property

Price history

1 event — show timeline

• 2026-05-15 Listed $1,195,000 CBRMLS