189-191 Dana Ave · Columbus, OH 43223

$264,900

6 bd · 2.0 ba · 2,552 sqft · MultiFamily public records · 119 Days on market

Built 1928 5,227 sqft lot $104/sqft · 13% below area Est $306k · 13% under

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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 +21.9/30.0
• ARV discount +13.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.1/10.0
• 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

Updated and well-maintained 3-bedroom, 1-bath duplex in the heart of Franklinton--excellent investment opportunity! Both furnaces and hot water tanks are less than five years old. Basement support beams were added to the 189 unit in 2021 for additional structural reinforcement. Unit 189 is vacant and updated. Unit 191 is rented for $1,100 per month with the tenant paying all utilities; lease in place through January 2027. Strong rental history with long-term leases already secured--don't miss this opportunity to add a solid income-producing property to your portfolio!

Key facts

• 5,227 sq ft lot
• Built 1928
• Listed 119 days

Tags

• BASEMENT SUPPORT BEAMS ADDED
• STRUCTURAL REINFORCEMENT

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×3bd/?ba units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive. Per door: $209/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 2 comparable units currently listed for rent nearby; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,953/mo this rent would consume 76% 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 $2k of loan paydown is wiped out by about $8k 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 119 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 27y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 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 1928 — 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: 1.11% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 7.5

CMA / ARV

• ARV (median comp): $305,603
• List price: $264,900
• Delta: -13.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111-113 S Princeton Ave	0.12mi	6/—	2,528 (-1%)	2mo	$200,000	$79	91
113-115 W Park Ave	0.16mi	6/—	2,576 (+1%)	2mo	$310,000	$120	89
53-55 W Park Ave	0.23mi	6/—	2,610 (+2%)	9mo	$330,000	$126	78
186-188 W Park Ave	0.17mi	6/—	2,758 (+8%)	8mo	$350,000	$127	72
59-61 N Princeton Ave	0.36mi	6/—	2,718 (+6%)	8mo	$60,000	$22	66
1336 Sullivant Ave	0.22mi	6/—	2,240 (-12%)	9mo	$165,000	$74	62
78-80 Stevens Ave	0.46mi	6/—	2,352 (-8%)	6mo	$240,000	$102	60
411-413 Ryan Ave	0.51mi	6/—	2,646 (+4%)	12mo	$187,000	$71	60
91-93 N Central Ave	0.42mi	6/—	2,912 (+14%)	3mo	$299,900	$103	54
154-156 N Central Ave	0.50mi	6/—	2,184 (-14%)	2mo	$315,000	$144	51
47-49 N Guilford Ave	0.41mi	6/—	2,240 (-12%)	12mo	$163,000	$73	50
53-55 Hawkes Ave	0.57mi	6/—	2,856 (+12%)	6mo	$330,000	$116	49

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-11,328
• Equity at exit: $39,497

10-year hold

• IRR: 7.5%
• Equity multiple: 1.61×
• Total profit: $45,440
• Equity at exit: $22,904

Cash invested: $74,172 (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: 14.9×

Monthly cashflow live

• Estimated rent: $2,953 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$415 /mo · $4,981/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $418

Break-even live

Break-even rent $2,424

Max offer price $264,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,477
1× unit	3	—	$1,477
Total (2 units)			$2,953

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63 Stevens Ave Columbus, OH	5.0	2.0	2437	$2,000	$0.82	7d	1	0.48mi
228 Schultz Ave Unit 1407033P Columbus, OH	5.0	1.5	1991	$5,806	$2.92	7d	1	0.70mi

Listing history 50 events

1. 2026-06-18
   days on market $264,900 Active 119 DOM
2. 2026-06-17
   days on market $264,900 Active 118 DOM
3. 2026-06-16
   days on market $264,900 Active 117 DOM
4. 2026-06-15
   days on market $264,900 Active 116 DOM
5. 2026-06-13
   days on market $264,900 Active 114 DOM
6. 2026-06-13
   days on market $264,900 Active 113 DOM
7. 2026-06-09
   days on market $264,900 Active 110 DOM
8. 2026-06-08
   days on market $264,900 Active 109 DOM
9. 2026-06-07
   days on market $264,900 Active 108 DOM
10. 2026-06-05
    pricedays on market $264,900 Active 105 DOM
11. 2026-06-03
    days on market $269,900 Active 104 DOM
12. 2026-06-02
    days on market $269,900 Active 103 DOM
13. 2026-06-01
    days on market $269,900 Active 102 DOM
14. 2026-05-31
    days on market $269,900 Active 101 DOM
15. 2026-05-14
    price $269,900 574-char remark

    Show marketing remark (574 chars)

    Updated and well-maintained 3-bedroom, 1-bath duplex in the heart of Franklinton--excellent investment opportunity! Both furnaces and hot water tanks are less than five years old. Basement support beams were added to the 189 unit in 2021 for additional structural reinforcement. Unit 189 is vacant and updated. Unit 191 is rented for $1,100 per month with the tenant paying all utilities; lease in place through January 2027. Strong rental history with long-term leases already secured--don't miss this opportunity to add a solid income-producing property to your portfolio!

16. 2026-04-24
    price $274,900 574-char remark

    Show marketing remark (574 chars)

    Updated and well-maintained 3-bedroom, 1-bath duplex in the heart of Franklinton--excellent investment opportunity! Both furnaces and hot water tanks are less than five years old. Basement support beams were added to the 189 unit in 2021 for additional structural reinforcement. Unit 189 is vacant and updated. Unit 191 is rented for $1,100 per month with the tenant paying all utilities; lease in place through January 2027. Strong rental history with long-term leases already secured--don't miss this opportunity to add a solid income-producing property to your portfolio!

17. 2026-03-30
    price $279,900 574-char remark

    Show marketing remark (574 chars)

    Updated and well-maintained 3-bedroom, 1-bath duplex in the heart of Franklinton--excellent investment opportunity! Both furnaces and hot water tanks are less than five years old. Basement support beams were added to the 189 unit in 2021 for additional structural reinforcement. Unit 189 is vacant and updated. Unit 191 is rented for $1,100 per month with the tenant paying all utilities; lease in place through January 2027. Strong rental history with long-term leases already secured--don't miss this opportunity to add a solid income-producing property to your portfolio!

18. 2026-02-19
    listed $289,900 Active 574-char remark

    Show marketing remark (574 chars)

    Updated and well-maintained 3-bedroom, 1-bath duplex in the heart of Franklinton--excellent investment opportunity! Both furnaces and hot water tanks are less than five years old. Basement support beams were added to the 189 unit in 2021 for additional structural reinforcement. Unit 189 is vacant and updated. Unit 191 is rented for $1,100 per month with the tenant paying all utilities; lease in place through January 2027. Strong rental history with long-term leases already secured--don't miss this opportunity to add a solid income-producing property to your portfolio!

19. 2025-12-15
    historical $1,100
20. 2025-12-09
    listed $1,100
21. 2025-12-08
    historical $1,100
22. 2025-11-28
    price $1,100
23. 2025-11-15
    price $1,150
24. 2025-11-01
    listed $1,200
25. 2025-11-01
    historical $1,200
26. 2025-09-20
    price $1,200
27. 2025-09-04
    listed $1,250
28. 2025-08-23
    historical $1,250
29. 2025-08-12
    price $1,250
30. 2025-07-31
    historical $1,275
31. 2025-07-22
    price $1,275
32. 2025-07-22
    price $1,275
33. 2025-07-21
    historical
34. 2025-06-20
    listed $1,300
35. 2025-06-20
    listed $1,300
36. 2025-06-04
    price $285,000
37. 2025-04-30
    price $289,900
38. 2025-03-22
    historical $1,200
39. 2025-03-19
    listed $1,200
40. 2025-02-24
    status Active
41. 2025-02-16
    historical $1,150
42. 2025-02-15
    historical Contingent
43. 2025-02-06
    listed $1,150
44. 2025-01-24
    price $295,000
45. 2025-01-16
    price $299,000
46. 2025-01-03
    price $305,000
47. 2024-12-18
    listed $310,000 Active
48. 2021-10-14
    soldstatus $255,000
49. 2017-07-20
    soldstatus $58,000
50. 2017-07-12
    soldstatus $59,900 Closed

ⓘ 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: $4,981 · $415/mo
• Projected year-2 tax: $4,981 · $415/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 4/10 Moderate FEMA zone X · 21% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,436
• − Mortgage interest: −$14,839
• − Property taxes: −$4,981
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,835
• − Management: −$2,835
• − Depreciation: −$7,706
• Taxable income: $916
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $4,799/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

+633.4% since first listed

47 events — show timeline

• 2026-05-14 Price Changed $269,900 CBRMLS
• 2026-04-24 Price Changed $274,900 CBRMLS
• 2026-03-30 Price Changed $279,900 CBRMLS
• 2026-02-19 Listed $289,900 CBRMLS
• 2025-12-15 Rental Removed $1,100 TENANTTURNER2
• 2025-12-09 Listed for Rent $1,100 TENANTTURNER2
• 2025-12-08 Rental Removed $1,100 ZUMPER1
• 2025-11-28 Price Changed $1,100 ZUMPER1
• 2025-11-15 Price Changed $1,150 ZUMPER1
• 2025-11-01 Listed for Rent $1,200 ZUMPER1
• 2025-11-01 Rental Removed $1,200 TENANTTURNER2
• 2025-09-20 Price Changed $1,200 TENANTTURNER2
• 2025-09-04 Listed for Rent $1,250 TENANTTURNER2
• 2025-08-23 Rental Removed $1,250 TENANTTURNER2
• 2025-08-12 Price Changed $1,250 TENANTTURNER2
• 2025-07-31 Rental Removed $1,275 APPFOLIO
• 2025-07-22 Price Changed $1,275 TENANTTURNER2
• 2025-07-22 Price Changed $1,275 APPFOLIO
• 2025-07-21 Listing Removed — CBRMLS
• 2025-06-20 Listed for Rent $1,300 TENANTTURNER2
• 2025-06-20 Listed for Rent $1,300 APPFOLIO
• 2025-06-04 Price Changed $285,000 CBRMLS
• 2025-04-30 Price Changed $289,900 CBRMLS
• 2025-03-22 Rental Removed $1,200 ZUMPER1
• 2025-03-19 Listed for Rent $1,200 ZUMPER1
• 2025-02-24 Relisted — CBRMLS
• 2025-02-16 Rental Removed $1,150 ZUMPER1
• 2025-02-15 Contingent — CBRMLS
• 2025-02-06 Listed for Rent $1,150 ZUMPER1
• 2025-01-24 Price Changed $295,000 CBRMLS
• 2025-01-16 Price Changed $299,000 CBRMLS
• 2025-01-03 Price Changed $305,000 CBRMLS
• 2024-12-18 Listed $310,000 CBRMLS
• 2021-10-14 Sold (Public Records) $255,000 Public Records
• 2017-07-20 Sold (Public Records) $58,000 Public Records
• 2017-07-12 Sold (MLS) $59,900 CBRMLS
• 2017-06-26 Contingent — CBRMLS
• 2017-06-24 Listed $64,900 CBRMLS
• 2005-02-23 Sold (MLS) $39,000 CBRMLS
• 2005-02-09 Listing Removed — CBRMLS
• 2005-01-06 Listed $39,900 CBRMLS
• 1999-07-27 Sold (MLS) $39,900 CBRMLS
• 1999-07-23 Listing Removed — CBRMLS
• 1999-05-07 Listed $39,900 CBRMLS
• 1998-02-23 Sold (Public Records) $85,000 Public Records
• 1997-03-07 Sold (Public Records) $56,250 Public Records
• 1997-03-07 Sold (Public Records) $36,800 Public Records

Property tax history

+17.4%/yr

Latest (2024): $4,981 · -3.9% YoY. Source: county tax records.