564 Frebis Ave · Columbus, OH 43206

$229,900

3 bd · 1.0 ba · 1,446 sqft · SingleFamily public records · 95 Days on market

Built 1920 3,484 sqft lot $159/sqft · 20% below area Est $289k · 20% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 2 story home with 3 bedrooms and 1 bath. Full basement with mechanical. Ready to move in. Call your Realtor for a viewing.

Key facts

• 3,484 sq ft lot
• Built 1920
• Listed 94 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (20.4% below list).
• Recommended offer: $183k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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); 198 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

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.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $230k implies a 476% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,892 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.80% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 10.5

CMA / ARV

• ARV (median comp): $289,133
• List price: $229,900
• Delta: -20.49%
• 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
605 Frebis Ave	0.06mi	3/2.5	1,459 (+1%)	1mo	$345,000	$236	89
1532 Parsons Ave	0.28mi	2/1.5 (-1)	1,402 (-3%)	1mo	$185,500	$132	74
1403 Bruck St	0.45mi	2/2.0 (-1)	1,428 (-1%)	1mo	$395,000	$277	67
792 Thurman Ave	0.41mi	3/1.5	1,307 (-10%)	1mo	$280,000	$214	62
306 E Jenkins Ave	0.39mi	3/1.5	1,248 (-14%)	1mo	$390,000	$313	56
301 Southwood Ave	0.44mi	3/1.5	1,260 (-13%)	1mo	$350,000	$278	55
377 Stewart Ave	0.50mi	2/1.5 (-1)	1,593 (+10%)	1mo	$495,000	$311	52
334 E Morrill Ave	0.53mi	3/2.0	1,638 (+13%)	1mo	$336,000	$205	48
165 Frebis Ave	0.57mi	2/2.5 (-1)	1,314 (-9%)	1mo	$360,000	$274	47
166 E Welch Ave	0.65mi	3/2.0	1,256 (-13%)	0mo	$400,000	$318	43
1452 S 4th St	0.65mi	3/2.5	1,268 (-12%)	1mo	$399,000	$315	42
1742 Oakwood Ave	0.71mi	4/2.0 (+1)	1,659 (+15%)	1mo	$255,000	$154	32

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: -19.6%
• Equity multiple: 0.31×
• Total profit: $-44,256
• Equity at exit: $34,279

10-year hold

• IRR: -11.4%
• Equity multiple: 0.30×
• Total profit: $-44,813
• Equity at exit: $19,878

Cash invested: $64,372 (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 43206

• Rents YoY: 3.5%
• Active inventory: 198
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,829 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$268 /mo · $3,221/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-125

Break-even live

Break-even rent $1,987

Max offer price $207,818

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-60	+0% $-125	+5% $-190	+10% $-255
Rent	-10% $-269	-5% $-197	+0% $-125	+5% $-53	+10% $19
Rate	-1.0pp $-9	-0.5pp $-67	base $-125	+0.5pp $-185	+1.0pp $-245

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
530 Hanford St Unit 1496117P Columbus, OH	4.0	3.0	1862	$7,310	$3.93	3d	1	0.03mi
554 E Gates St Columbus, OH	2.0	1.0	902	$1,295	$1.44	11d	1	0.09mi
573 E Mithoff St Columbus, OH	3.0	1.5	1300	$2,100	$1.62	44d	1	0.15mi
546 E Jenkins Ave Unit 1 Columbus, OH	2.0	1.0	975	$1,295	$1.33	24d	1	0.21mi
490-492 E Jenkins Ave Unit 490 Columbus, OH	3.0	1.0	1050	$1,325	$1.26	44d	1	0.22mi
506 Thurman Ave Columbus, OH	3.0	1.0	1500	$1,600	$1.07	3d	1	0.26mi
1175 Ann St Columbus, OH	2.0	1.0	904	$1,495	$1.65	44d	1	0.27mi
476 Southwood Ave Columbus, OH	2.0	1.0	1219	$1,400	$1.15	44d	1	0.28mi
396 E Mithoff St Columbus, OH	3.0	1.5	1380	$2,295	$1.66	11d	1	0.28mi
357 Frebis Ave #5 Columbus, OH	3.0	3.5	1748	$2,750	$1.57	44d	1	0.29mi
662 Southwood Ave Columbus, OH	3.0	2.0	1183	$1,950	$1.65	21d	1	0.31mi
1061 Parsons Ave Columbus, OH	2.0	2.0	1408	$1,950	$1.38	44d	1	0.43mi
1416 S Ohio Ave Columbus, OH	3.0	1.5	1056	$1,595	$1.51	22d	1	0.46mi
529 E Morrill Ave Columbus, OH	3.0	1.0	1318	$1,600	$1.21	4d	1	0.47mi
761 Siebert St Columbus, OH	2.0	2.0	1050	$2,350	$2.24	4d	1	0.49mi
205 E Moler St Unit B Columbus, OH	2.0	1.0	891	$995	$1.12	8d	1	0.51mi
461-463 Reinhard Ave Columbus, OH	3.0	1.0	1134	$1,450	$1.28	4d	1	0.53mi
461-463 Reinhard Ave Unit 461 Columbus, OH	3.0	1.0	1134	$1,450	$1.28	4d	1	0.53mi
367 E Morrill Ave Columbus, OH	2.0	1.0	977	$1,450	$1.48	44d	1	0.55mi
1239-1241 S Champion Ave Columbus, OH	3.0	1.0	1134	$1,275	$1.12	17d	1	0.58mi
362 E Hinman Ave Columbus, OH	2.0	1.0	879	$1,149	$1.31	44d	1	0.59mi
1225 S Champion Ave Unit 1225 Columbus, OH	3.0	1.0	1110	$1,095	$0.99	4d	1	0.59mi
1227 S Champion Ave Unit 1227 Columbus, OH	3.0	1.0	1110	$1,195	$1.08	4d	1	0.59mi
966 S 18th St Columbus, OH	3.0	1.5	1428	$2,400	$1.68	44d	1	0.61mi
315 Siebert St Columbus, OH	3.0	1.0	1597	$2,200	$1.38	24d	1	0.61mi
1460 Oakwood Ave Columbus, OH	2.0	1.0	901	$900	$1.00	15d	1	0.61mi
1460 Oakwood Ave Columbus, OH	2.0	1.0	901	$900	$1.00	44d	1	0.61mi
630 Stanley Ave Columbus, OH	3.0	1.0	1300	$1,949	$1.50	24d	1	0.62mi
106 E Gates St Columbus, OH	3.0	1.5	1472	$2,700	$1.83	15d	1	0.64mi
1118 S Ohio Ave Columbus, OH	3.0	1.5	1232	$1,750	$1.42	44d	1	0.65mi
850 E Whittier St Columbus, OH	3.0	2.0	1200	$1,949	$1.62	24d	1	0.66mi
1110 S 4th St Columbus, OH	3.0	2.0	1465	$900	$0.61	8d	1	0.66mi
928 S 18th St Columbus, OH	3.0	2.0	1216	$1,995	$1.64	44d	1	0.66mi
383 Schiller Aly Columbus, OH	2.0	1.5	1275	$2,550	$2.00	24d	1	0.67mi
880 E Whittier St Columbus, OH	2.0	1.5	1064	$1,100	$1.03	44d	1	0.68mi
498 E Kossuth St Columbus, OH	2.0	1.5	1292	$1,795	$1.39	44d	1	0.71mi
61 E Moler St #63 Columbus, OH	2.0	1.0	1050	$1,950	$1.86	15d	1	0.71mi
705 E Columbus St Columbus, OH	3.0	1.0	1436	$2,300	$1.60	44d	1	0.73mi
206 E Woodrow Ave Columbus, OH	2.0	1.0	999	$1,295	$1.30	44d	1	0.75mi
963 S 22nd St Columbus, OH	3.0	2.0	1188	$3,200	$2.69	8d	1	0.75mi

Listing history 21 events

1. 2026-06-21
   days on market $229,900 Active 95 DOM
2. 2026-06-18
   days on market $229,900 Active 92 DOM
3. 2026-06-17
   days on market $229,900 Active 91 DOM
4. 2026-06-16
   days on market $229,900 Active 90 DOM
5. 2026-06-15
   days on market $229,900 Active 89 DOM
6. 2026-06-13
   days on market $229,900 Active 87 DOM
7. 2026-06-13
   days on market $229,900 Active 86 DOM
8. 2026-06-09
   days on market $229,900 Active 83 DOM
9. 2026-06-08
   days on market $229,900 Active 82 DOM
10. 2026-06-07
    days on market $229,900 Active 81 DOM
11. 2026-06-05
    days on market $229,900 Active 78 DOM
12. 2026-06-03
    days on market $229,900 Active 77 DOM
13. 2026-06-02
    days on market $229,900 Active 76 DOM
14. 2026-06-01
    days on market $229,900 Active 75 DOM
15. 2026-05-31
    days on market $229,900 Active 74 DOM
16. 2026-05-19
    price $229,900 138-char remark

    Show marketing remark (138 chars)

    Well maintained 2 story home with 3 bedrooms and 1 bath. Full basement with mechanical. Ready to move in. Call your Realtor for a viewing.

17. 2026-04-17
    price $239,900 138-char remark

    Show marketing remark (138 chars)

    Well maintained 2 story home with 3 bedrooms and 1 bath. Full basement with mechanical. Ready to move in. Call your Realtor for a viewing.

18. 2026-03-18
    listed $249,900 Active 138-char remark

    Show marketing remark (138 chars)

    Well maintained 2 story home with 3 bedrooms and 1 bath. Full basement with mechanical. Ready to move in. Call your Realtor for a viewing.

19. 1990-03-07
    soldstatus $39,900
20. 1984-07-01
    soldstatus $33,500
21. 1978-09-01
    soldstatus $25,000

ⓘ 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: $3,221 · $268/mo
• Projected year-2 tax: $3,404 · $284/mo
• Expected delta: +$183/yr (+$15/mo · 5.7%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,947
• − Mortgage interest: −$12,878
• − Property taxes: −$3,221
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − Depreciation: −$6,688
• Taxable loss: −$5,501
• Est. tax savings @ 24.0%: +$1,320
• After-tax cash flow: $-180/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

+819.6% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $229,900 CBRMLS
• 2026-04-17 Price Changed $239,900 CBRMLS
• 2026-03-18 Listed $249,900 CBRMLS
• 1990-03-07 Sold (Public Records) $39,900 Public Records
• 1984-07-01 Sold (Public Records) $33,500 Public Records
• 1978-09-01 Sold (Public Records) $25,000 Public Records

Property tax history

+9.9%/yr

Latest (2024): $3,221 · -2.4% YoY. Source: county tax records.