1751-1753 E Frankfort St · Columbus, OH 43206

$230,000

4 bd · 2.0 ba · 1,600 sqft · MultiFamily public records · 28 Days on market

Built 1942 5,227 sqft lot Est $242k · at est.

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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 +25.6/30.0
• ARV discount +9.7/15.0
• DSCR +8.5/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 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

Turn-key investment opportunity conveniently located near Nationwide Children's Hospital, Downtown Columbus, Franklin Park Conservatory and Botanical Gardens, and the Driving Park Community Center. Each unit features 2 bedrooms, 1 bathroom, and a basement that provides additional storage space, offering a functional layout that appeals to long-term tenants. The property is fully occupied, providing immediate and consistent rental income. Unit 1751 is rented at $1,040/month with a $50/month water fee until 3/25/2027, while Unit 1753 is rented at $980/month with a $25/month water fee through 12/29/2026.

Key facts

• Functional layout
• Fully occupied
• 5,227 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• NEAR DOWNTOWN COLUMBUS
• NEAR BOTANICAL GARDENS
• FULLY OCCUPIED
• ADDITIONAL STORAGE SPACE
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other:
• Financial info: Annual property tax approximately $2,213 (2025)
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Owner pays water
• Home design: Duplex; Built in 1942
• Construction:
• Exterior features: Lot of approximately 0.12 acre

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms:
• Heating & cooling: Forced air heating
• Interior features: Forced air heating
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive. Per door: $270/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $227k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+3.5%/yr); 193 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 41% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $7k 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 + 3.5% rent growth), your $64k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $226,550 (1.5% below list)

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 1942 — 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: 1.12% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $241,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1732-1734 E Whittier St	0.14mi	4/—	1,568 (-2%)	1mo	$195,000	$124	90
1701 E Whittier St #1703	0.17mi	4/—	1,624 (+2%)	9mo	$245,000	$151	82
1723-1725 E Whittier St	0.17mi	4/—	1,624 (+2%)	10mo	$193,315	$119	82
1710-1712 E Whittier St	0.14mi	4/—	1,624 (+2%)	24mo	$300,000	$185	71
736-738 Lilley Ave	0.61mi	4/—	1,551 (-3%)	6mo	$240,000	$155	61
960 Ferndale Pl	0.61mi	4/—	1,537 (-4%)	10mo	$225,000	$146	56
940 Ferndale Pl	0.62mi	4/—	1,782 (+11%)	1mo	$206,000	$116	51
969 Sheridan Ave	0.63mi	4/—	1,792 (+12%)	0mo	$295,000	$165	50

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 · 3.51% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,543
• Equity at exit: $34,294

10-year hold

• IRR: 9.5%
• Equity multiple: 1.75×
• Total profit: $48,372
• Equity at exit: $19,886

Cash invested: $64,400 (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 43206

• Rents YoY: 3.5%
• Active inventory: 193
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,565 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$184 /mo · $2,206/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $541

Break-even live

Break-even rent $1,881

Max offer price $230,000

Occupancy floor 74%

Sensitivity live

Price	-10% $671	-5% $606	+0% $541	+5% $475	+10% $410
Rent	-10% $338	-5% $439	+0% $541	+5% $642	+10% $743
Rate	-1.0pp $656	-0.5pp $599	base $541	+0.5pp $481	+1.0pp $420

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,566
Total (2 units)			$2,565

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1050 Bulen Ave Columbus, OH	3.0	2.0	1104	$1,700	$1.54	18d	1	0.11mi
910 Rhoads Ave Columbus, OH	1.0–3.0	1.0–2.0	941	$1,350	$1.43	2d	30	0.28mi
864 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,300	$1.11	44d	1	0.35mi
852-854 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,295	$1.10	24d	1	0.36mi
852-854 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,295	$1.10	15d	1	0.36mi
854 Fairwood Ave Columbus, OH	3.0	1.0	1176	$1,295	$1.10	44d	1	0.36mi
1805 Kent St Columbus, OH	4.0	1.5	1399	$1,900	$1.36	24d	1	0.44mi
736 Seymour Ave Columbus, OH	3.0	1.0	1176	$1,350	$1.15	44d	1	0.54mi
773-775 Berkeley Rd Columbus, OH	3.0	1.0	1280	$1,350	$1.05	2d	1	0.56mi
773-775 Berkeley Rd Columbus, OH	3.0	1.0	1280	$1,400	$1.09	22d	1	0.56mi
1026 Ellsworth Ave Columbus, OH	3.0	1.0	1100	$1,295	$1.18	20d	1	0.57mi
1106 Ellsworth Ave Columbus, OH	3.0	1.0	1150	$1,495	$1.30	8d	1	0.59mi
908 Ellsworth Ave Columbus, OH	3.0	1.0	1154	$1,325	$1.15	4d	1	0.60mi
614-616 Lilley Ave Columbus, OH	3.0	1.5	1232	$1,700	$1.38	44d	1	0.75mi
904 Studer Ave Columbus, OH	3.0	1.5	1364	$1,780	$1.30	24d	1	0.78mi
1559 Frebis Ave Columbus, OH	3.0	2.0	1744	$2,100	$1.20	44d	1	0.80mi
883 Studer Ave Columbus, OH	4.0	2.5	2217	$2,500	$1.13	2d	1	0.82mi
558 Lilley Ave Columbus, OH	3.0	1.0	1372	$1,600	$1.17	44d	1	0.82mi
1165-1167 E Whittier St Columbus, OH	3.0	1.5	1300	$1,950	$1.50	44d	1	0.82mi
1167 E Whittier St Columbus, OH	3.0	1.5	1300	$1,950	$1.50	44d	1	0.82mi
988 Linwood Ave Columbus, OH	4.0	3.0	1800	$2,750	$1.53	18d	1	0.85mi
932 Linwood Ave Columbus, OH	4.0	1.5	1663	$2,045	$1.23	44d	1	0.85mi
1683-1685 E Main St Columbus, OH	3.0	2.0	1380	$1,695	$1.23	13d	1	0.88mi
1288 Linwood Ave Columbus, OH	3.0	1.0	1344	$1,900	$1.41	44d	1	0.95mi
857 Wilson Ave #859 Columbus, OH	3.0	2.5	1527	$1,650	$1.08	44d	1	0.96mi
815 Wilson Ave Columbus, OH	3.0	1.5	1400	$1,500	$1.07	8d	1	0.97mi
813 Wilson Ave Unit 1 Columbus, OH	3.0	1.5	1400	$1,500	$1.07	8d	1	0.97mi
555 Kimball Pl Columbus, OH	3.0	2.5	1252	$1,785	$1.43	44d	1	1.00mi
2200 E Main St Bexley, OH	3.0	1.0–3.0	1142	$4,678	$4.10	2d	137	1.00mi
1776 Nason Ave Columbus, OH	3.0	1.0	1300	$1,500	$1.15	8d	1	1.01mi
1776 Nason Ave Columbus, OH	3.0	1.0	1300	$1,500	$1.15	4d	1	1.01mi
382 Morrison Ave Columbus, OH	4.0	1.5	2027	$2,500	$1.23	3d	1	1.02mi
391 Berkeley Rd Columbus, OH	3.0	1.5	1518	$2,295	$1.51	15d	1	1.03mi
997 Oakwood Ave Columbus, OH	3.0	1.5	1260	$1,800	$1.43	13d	1	1.03mi
730-732 Oakwood Ave Unit 732 Columbus, OH	3.0	1.0	1232	$1,425	$1.16	44d	1	1.05mi
1702 Bryden Rd #1704 Columbus, OH	3.0	2.5	2000	$2,300	$1.15	18d	1	1.09mi
627 Oakwood Ave Columbus, OH	3.0	2.5	2009	$2,379	$1.18	13d	1	1.13mi
814 S Ohio Ave Columbus, OH	3.0	1.0	1380	$1,600	$1.16	44d	1	1.15mi
685 S Champion Ave Unit 683 Columbus, OH	3.0	1.0	1364	$1,575	$1.15	22d	1	1.16mi
1118 S Ohio Ave Columbus, OH	3.0	1.5	1232	$1,750	$1.42	44d	1	1.17mi

Listing history 33 events

1. 2026-06-18
   days on market $230,000 Active 28 DOM
2. 2026-06-17
   days on market $230,000 Active 27 DOM
3. 2026-06-16
   days on market $230,000 Active 26 DOM
4. 2026-06-15
   days on market $230,000 Active 25 DOM
5. 2026-06-13
   days on market $230,000 Active 23 DOM
6. 2026-06-13
   days on market $230,000 Active 22 DOM
7. 2026-06-09
   days on market $230,000 Active 19 DOM
8. 2026-06-08
   days on market $230,000 Active 18 DOM
9. 2026-06-07
   days on market $230,000 Active 17 DOM
10. 2026-06-05
    days on market $230,000 Active 14 DOM
11. 2026-06-03
    days on market $230,000 Active 13 DOM
12. 2026-06-02
    days on market $230,000 Active 12 DOM
13. 2026-06-01
    days on market $230,000 Active 11 DOM
14. 2026-05-31
    days on market $230,000 Active 10 DOM
15. 2026-05-21
    listed $230,000 Active
16. 2026-01-22
    historical $980
17. 2025-12-02
    price $980
18. 2025-11-11
    price $1,000
19. 2025-10-28
    price $1,020
20. 2025-10-14
    price $1,040
21. 2025-10-07
    price $1,060
22. 2025-09-23
    price $1,080
23. 2025-09-04
    listed $1,100
24. 2022-03-24
    soldstatus $211,000
25. 2019-12-31
    soldstatus $117,000
26. 2013-07-12
    soldstatus $115,000
27. 2011-08-03
    soldstatus $192,000
28. 2008-09-16
    historical
29. 2006-10-26
    listed $67,900
30. 2006-06-22
    historical
31. 2005-12-21
    listed $87,500
32. 1993-09-23
    soldstatus $48,000
33. 1988-02-24
    soldstatus $66,000

ⓘ 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: $2,206 · $184/mo
• Projected year-2 tax: $2,897 · $241/mo
• Expected delta: +$691/yr (+$58/mo · 31.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,780
• − Mortgage interest: −$12,884
• − Property taxes: −$2,206
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,462
• − Management: −$2,462
• − Depreciation: −$6,691
• Taxable income: $2,925
• Est. tax owed @ 24.0%: −$702
• After-tax cash flow: $5,785/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): 21,996
• Household income: $75,806
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 846.0

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 0.59)
• Race & ethnicity: White 56% Black 31% Two or more races 9% Hispanic / Latino 4% Asian 1% Native American 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 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: ▼ -576.73%
• Current HPI: 173.8569
• Rent YoY: ▲ 3.51%
• 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

+248.5% since first listed

19 events — show timeline

• 2026-05-21 Listed $230,000 CBRMLS
• 2026-01-22 Rental Removed $980 TENANTTURNER2
• 2025-12-02 Price Changed $980 TENANTTURNER2
• 2025-11-11 Price Changed $1,000 TENANTTURNER2
• 2025-10-28 Price Changed $1,020 TENANTTURNER2
• 2025-10-14 Price Changed $1,040 TENANTTURNER2
• 2025-10-07 Price Changed $1,060 TENANTTURNER2
• 2025-09-23 Price Changed $1,080 TENANTTURNER2
• 2025-09-04 Listed for Rent $1,100 TENANTTURNER2
• 2022-03-24 Sold (Public Records) $211,000 Public Records
• 2019-12-31 Sold (Public Records) $117,000 Public Records
• 2013-07-12 Sold (Public Records) $115,000 Public Records
• 2011-08-03 Sold (Public Records) $192,000 Public Records
• 2008-09-16 Listing Removed — CBRMLS
• 2006-10-26 Listed $67,900 CBRMLS
• 2006-06-22 Listing Removed — CBRMLS
• 2005-12-21 Listed $87,500 CBRMLS
• 1993-09-23 Sold (Public Records) $48,000 Public Records
• 1988-02-24 Sold (Public Records) $66,000 Public Records

Property tax history

+0.7%/yr

Latest (2024): $2,206 · +1.3% YoY. Source: county tax records.