2397 Sullivant Ave · Columbus, OH 43204

$120,000

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 243 Days on market

Built 1923 3,920 sqft lot $122/sqft · 11% below area Est $134k · 11% under

---

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 +17.4/30.0
• ARV discount +12.2/15.0
• DSCR +5.4/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1923

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (3.7% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+4.5%/yr); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 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.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $120k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• GRM: 8.7

CMA / ARV

• ARV (median comp): $134,099
• List price: $120,000
• Delta: -10.51%
• 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
349 S Richardson Ave	0.32mi	2/1.0	1,004 (+2%)	2mo	$169,900	$169	80
299 Whitethorne Ave	0.44mi	2/1.0	959 (-2%)	2mo	$65,000	$68	74
334 S Wayne Ave	0.22mi	3/1.0 (+1)	1,057 (+7%)	2mo	$188,500	$178	71
686 S Burgess Ave	0.38mi	2/1.0	1,056 (+7%)	1mo	$82,500	$78	70
310 S Ogden Ave	0.45mi	3/1.5 (+1)	960 (-2%)	1mo	$200,000	$208	68
151 S Eureka Ave	0.49mi	3/1.0 (+1)	936 (-5%)	1mo	$80,000	$85	63
2845 Fremont St	0.69mi	2/1.0	1,016 (+3%)	2mo	$70,000	$69	60
184 S Ogden Ave	0.57mi	2/1.0	1,051 (+7%)	2mo	$172,000	$164	60
724 S Ogden Ave	0.49mi	2/1.0	880 (-11%)	1mo	$175,000	$199	59
815 S Wayne Ave	0.47mi	2/1.5	852 (-13%)	2mo	$180,000	$211	53
570 Wiltshire Rd	0.63mi	2/1.0	1,100 (+12%)	2mo	$190,000	$173	50
258 Wrexham Ave	0.62mi	3/2.0 (+1)	1,068 (+8%)	1mo	$194,000	$182	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 · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.64×
• Total profit: $-11,974
• Equity at exit: $17,892

10-year hold

• IRR: 1.7%
• Equity multiple: 1.13×
• Total profit: $4,404
• Equity at exit: $10,375

Cash invested: $33,600 (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 →

ZIP-level market 43204

• Rents YoY: 4.5%
• Active inventory: 187
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,155 high
• Mortgage (P&I): −$629
• Tax from tax record: −$144 /mo · $1,728/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $89

Break-even live

Break-even rent $1,042

Max offer price $120,000

Occupancy floor 87%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	3d	1	0.05mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	20d	1	0.06mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	23d	1	0.15mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	10d	1	0.20mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.25mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	12d	1	0.28mi
685 S Wheatland Ave Columbus, OH	1.0	1.0	640	$850	$1.33	43d	1	0.30mi
2203 Clarendon Ln Unit 2203 Columbus, OH	2.0	1.0	835	$1,000	$1.20	12d	1	0.30mi
2174 Sullivant Ave Columbus, OH	1.0	1.0	800	$775	$0.97	43d	1	0.34mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.35mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	43d	1	0.36mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	43d	1	0.36mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	3d	1	0.36mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	20d	1	0.36mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	23d	1	0.38mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	7d	1	0.39mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	43d	1	0.42mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	43d	1	0.50mi
2157 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.52mi
406 1/2 S Hague Ave Columbus, OH	2.0	1.0	918	$765	$0.83	43d	1	0.54mi
2173 W Mound St Unit A Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.54mi
2167 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.57mi
396 S Powell Ave Unit 396 Columbus, OH	2.0	1.0	1022	$925	$0.91	43d	1	0.61mi
390 S Powell Ave Columbus, OH	2.0	1.0	775	$1,025	$1.32	3d	1	0.61mi
839-841 S Ogden Ave Columbus, OH	2.0	1.0	727	$1,000	$1.38	2d	1	0.63mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.64mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	20d	1	0.65mi
947 E Forest Creek Dr Columbus, OH	2.0	1.5	950	$1,200	$1.26	43d	2	0.68mi
945 Hodges Dr Columbus, OH	3.0	1.0	1078	$1,640	$1.52	23d	1	0.68mi
364 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$975	$0.97	43d	1	0.69mi
2895 Sullivant Ave Unit 6 Columbus, OH	1.0	1.0	600	$810	$1.35	23d	1	0.70mi
148 S Powell Ave Unit B Columbus, OH	2.0	1.0	900	$1,000	$1.11	7d	1	0.77mi
148 S Powell Ave Columbus, OH	2.0	1.0	900	$1,050	$1.17	43d	1	0.77mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	43d	1	0.80mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	20d	1	0.80mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.80mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	23d	1	0.80mi
793 Wiltshire Rd Columbus, OH	2.0	1.0	900	$1,450	$1.61	43d	1	0.81mi
486-488 S Huron Ave Unit 488 Columbus, OH	2.0	1.0	1104	$1,150	$1.04	43d	1	0.89mi
87-97 N Burgess Ave Columbus, OH	2.0	1.0	950	$1,250	$1.32	43d	1	0.91mi

Listing history 33 events

1. 2026-06-18
   days on market $120,000 Active 243 DOM
2. 2026-06-17
   days on market $120,000 Active 242 DOM
3. 2026-06-16
   days on market $120,000 Active 241 DOM
4. 2026-06-15
   days on market $120,000 Active 240 DOM
5. 2026-06-13
   days on market $120,000 Active 238 DOM
6. 2026-06-13
   days on market $120,000 Active 237 DOM
7. 2026-06-09
   days on market $120,000 Active 234 DOM
8. 2026-06-08
   days on market $120,000 Active 233 DOM
9. 2026-06-07
   days on market $120,000 Active 232 DOM
10. 2026-06-05
    days on market $120,000 Active 229 DOM
11. 2026-06-03
    days on market $120,000 Active 228 DOM
12. 2026-06-02
    days on market $120,000 Active 227 DOM
13. 2026-06-01
    days on market $120,000 Active 226 DOM
14. 2026-05-31
    days on market $120,000 Active 225 DOM
15. 2026-01-23
    price $120,000 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

16. 2026-01-23
    status Active 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

17. 2026-01-20
    historical 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

18. 2025-12-10
    price $140,000 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

19. 2025-11-02
    price $142,000 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

20. 2025-10-15
    listed $145,000 Active 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

21. 2025-10-13
    historical $145,000 310-char remark

    Show marketing remark (310 chars)

    SCHEDULE YOUR SHOWING TODAY for this charming 2-bedroom, 1-bath home conveniently located just minutes from downtown, major freeways and Hollywood Casino. Furnace and water tank are both NEW and electric panel has been recently updated as well. This home needs some TLC and is being sold ''AS IS. '' Cash only.

22. 2010-08-13
    soldstatus $32,000
23. 2010-08-06
    soldstatus $32,000 251-char remark

    Show marketing remark (251 chars)

    CURRENTLY RENTED AT $500/MONTH. 24 HOUR NOTICE. TENANTS RIGHTS. WALK TO ELEMENTARY SCHOOL. CLOSE TO BUS LINE. REMODELED KITCHEN. 1ST FLOOR LAUNDRY/TOILET AREA. EXCELLENT VALUE! MAY BE BUNDLED WITH 2401 SULLIVANT AVE. JUST MINUTES FROM PROPOSED CASINO!

24. 2010-07-08
    historical 251-char remark

    Show marketing remark (251 chars)

    CURRENTLY RENTED AT $500/MONTH. 24 HOUR NOTICE. TENANTS RIGHTS. WALK TO ELEMENTARY SCHOOL. CLOSE TO BUS LINE. REMODELED KITCHEN. 1ST FLOOR LAUNDRY/TOILET AREA. EXCELLENT VALUE! MAY BE BUNDLED WITH 2401 SULLIVANT AVE. JUST MINUTES FROM PROPOSED CASINO!

25. 2010-03-04
    listed $34,900 251-char remark

    Show marketing remark (251 chars)

    CURRENTLY RENTED AT $500/MONTH. 24 HOUR NOTICE. TENANTS RIGHTS. WALK TO ELEMENTARY SCHOOL. CLOSE TO BUS LINE. REMODELED KITCHEN. 1ST FLOOR LAUNDRY/TOILET AREA. EXCELLENT VALUE! MAY BE BUNDLED WITH 2401 SULLIVANT AVE. JUST MINUTES FROM PROPOSED CASINO!

26. 2006-05-01
    historical
27. 2005-10-17
    listed $75,000
28. 2000-11-30
    soldstatus $340,000
29. 2000-11-06
    soldstatus $290,000
30. 1996-12-26
    soldstatus $45,000
31. 1991-06-20
    soldstatus $12,500
32. 1988-11-08
    soldstatus $18,900
33. 1985-01-29
    soldstatus $22,000

ⓘ 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: $1,728 · $144/mo
• Projected year-2 tax: $1,800 · $150/mo
• Expected delta: +$72/yr (+$6/mo · 4.2%)

ⓘ 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: $13,865
• − Mortgage interest: −$6,722
• − Property taxes: −$1,728
• − Insurance: −$600
• − Repairs & maintenance: −$1,109
• − Management: −$1,109
• − Depreciation: −$3,491
• Taxable loss: −$894
• Est. tax savings @ 24.0%: +$215
• After-tax cash flow: $1,289/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): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2290.0

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 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 16% Black 13% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 81% English-only · Spanish 13% Arabic 2% Other Asian/Pacific 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: ▼ -220.67%
• Current HPI: 265.7711
• Rent YoY: ▲ 4.49%
• 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

+445.5% since first listed

19 events — show timeline

• 2026-01-23 Price Changed $120,000 CBRMLS
• 2026-01-23 Relisted — CBRMLS
• 2026-01-20 Listing Removed — CBRMLS
• 2025-12-10 Price Changed $140,000 CBRMLS
• 2025-11-02 Price Changed $142,000 CBRMLS
• 2025-10-15 Listed $145,000 CBRMLS
• 2025-10-13 Coming Soon $145,000 CBRMLS
• 2010-08-13 Sold (Public Records) $32,000 Public Records
• 2010-08-06 Sold (MLS) $32,000 CBRMLS
• 2010-07-08 Listing Removed — CBRMLS
• 2010-03-04 Listed $34,900 CBRMLS
• 2006-05-01 Listing Removed — CBRMLS
• 2005-10-17 Listed $75,000 CBRMLS
• 2000-11-30 Sold (Public Records) $340,000 Public Records
• 2000-11-06 Sold (Public Records) $290,000 Public Records
• 1996-12-26 Sold (Public Records) $45,000 Public Records
• 1991-06-20 Sold (Public Records) $12,500 Public Records
• 1988-11-08 Sold (Public Records) $18,900 Public Records
• 1985-01-29 Sold (Public Records) $22,000 Public Records

Property tax history

+10.3%/yr

Latest (2024): $1,728 · +14.4% YoY. Source: county tax records.