189-191 N Central Ave · Columbus, OH 43222

$289,900

4 bd · 2.0 ba · 1,552 sqft · MultiFamily public records · 57 Days on market

Built 1900 4,356 sqft lot $187/sqft · 25% above area Est $231k · 25% over

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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 +20.4/30.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This updated Franklinton duplex delivers comfortable modern living in a neighborhood known for its growth and character. Fully renovated in 2024, the layout offers practical flow and inviting spaces that work well for tenants or an owner occupant. Bedrooms are nicely sized, and the overall footprint feels bright and functional. With strong rental history and a location close to downtown conveniences, this duplex makes a compelling addition to any portfolio. Both units are occupied, please do not disturb tenants. Curb offers only.

Key facts

• 4,356 sq ft lot
• Built 1900
• Listed 57 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive. Per door: $188/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (4.6% below list).
• Recommended offer: $276k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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: 50 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,765/mo this rent would consume 103% of the median local household income ($32k/yr) (locally 126% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.
• Current owner paid $70k; list at $290k implies a 314% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $276,500 (4.6% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 5% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (median comp): $231,493
• List price: $289,900
• Delta: 25.23%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1340-1342 W State St	0.42mi	4/—	1,488 (-4%)	8mo	$235,000	$158	67
40 Wisconsin Ave	0.37mi	3/— (-1)	1,592 (+3%)	12mo	$110,000	$69	64
266-288 S Yale Ave	0.75mi	4/—	1,560 (+0%)	20mo	$270,000	$173	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.24×
• Total profit: $181,717
• Equity at exit: $261,165

10-year hold

• IRR: 24.6%
• Equity multiple: 7.36×
• Total profit: $516,171
• Equity at exit: $563,212

Cash invested: $81,172 (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 43222

• Active inventory: 50
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $2,765 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$168 /mo · $2,015/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $375

Break-even live

Break-even rent $2,290

Max offer price $289,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,764
Total (2 units)			$2,765

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 N Guilford Ave Columbus, OH	4.0	2.0	1456	$1,850	$1.27	44d	1	0.14mi
228 Schultz Ave Unit 1407033P Columbus, OH	5.0	1.5	1991	$5,806	$2.92	8d	1	0.21mi
228 Schultz Ave Unit 1407024P Columbus, OH	4.0	1.5	1991	$6,208	$3.12	15d	1	0.21mi
51 N Princeton Ave Columbus, OH	3.0	1.0	1188	$1,175	$0.99	24d	1	0.26mi
58 Stevens Ave Columbus, OH	3.0	1.0	1176	$1,250	$1.06	44d	1	0.26mi
162 Wisconsin Ave Columbus, OH	4.0	2.5	1930	$1,900	$0.98	44d	1	0.30mi
32 Schultz Ave Columbus, OH	3.0	1.0	1218	$1,250	$1.03	21d	1	0.33mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	8d	1	0.37mi
85 N Yale Ave Columbus, OH	3.0	1.0	1215	$1,100	$0.91	20d	1	0.37mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$1,295	$1.37	15d	12	0.47mi
76 Rodgers Ave Columbus, OH	3.0	1.5	1422	$1,695	$1.19	24d	1	0.61mi
189 W Park Ave Unit 189 Columbus, OH	3.0	2.0	1276	$1,395	$1.09	8d	1	0.61mi
153 S Cypress Ave Columbus, OH	3.0	1.0	1472	$1,650	$1.12	8d	1	0.69mi
135-137 Dakota Ave Unit 135 Columbus, OH	3.0	1.5	2200	$1,800	$0.82	44d	1	0.71mi
158 Dakota Ave Columbus, OH	4.0	2.0	1800	$2,045	$1.14	8d	1	0.76mi
125 Avondale Ave Columbus, OH	3.0	1.5	1344	$1,695	$1.26	44d	1	0.76mi
1314 City View Dr Columbus, OH	1.0–3.0	1.0–2.0	961	$3,539	$3.68	2d	51	0.77mi
60 Martin Ave Columbus, OH	3.0	2.0	1807	$1,650	$0.91	24d	1	0.82mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	8d	1	0.86mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.97mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	15d	1	0.97mi
378 Hawkes Ave Columbus, OH	3.0	2.0	1200	$1,649	$1.37	24d	1	1.07mi
908 Thomas Rd Unit 908 Grandview Heights, OH	3.0	1.0	1100	$1,750	$1.59	17d	1	1.10mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	20d	1	1.11mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	1.11mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	44d	1	1.17mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	24d	1	1.17mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	15d	1	1.25mi
644 Chlois Ln Columbus, OH	1.0–3.0	1.0–2.0	985	$3,085	$3.13	2d	15	1.31mi
257 S Skidmore St Columbus, OH	3.0	2.0	1224	$1,895	$1.55	44d	1	1.32mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$3,599	$3.09	44d	15	1.33mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$3,649	$3.13	2d	52	1.33mi
285 S Gift St Columbus, OH	3.0	2.0	1641	$1,700	$1.04	16d	1	1.38mi
285 S Gift St Columbus, OH	3.0	2.0	1641	$1,700	$1.04	24d	1	1.38mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	44d	1	1.39mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	12d	1	1.45mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	44d	1	1.48mi
713 Canonby Pl Unit B Columbus, OH	3.0	1.5	1200	$1,095	$0.91	3d	1	1.49mi
713 Canonby Pl Apt E Columbus, OH	3.0	1.5	1200	$1,095	$0.91	44d	1	1.49mi

Listing history 39 events

1. 2026-06-18
   days on market $289,900 Active 57 DOM
2. 2026-06-17
   days on market $289,900 Active 56 DOM
3. 2026-06-16
   days on market $289,900 Active 55 DOM
4. 2026-06-15
   days on market $289,900 Active 54 DOM
5. 2026-06-13
   days on market $289,900 Active 52 DOM
6. 2026-06-13
   days on market $289,900 Active 51 DOM
7. 2026-06-09
   days on market $289,900 Active 48 DOM
8. 2026-06-08
   days on market $289,900 Active 47 DOM
9. 2026-06-07
   days on market $289,900 Active 46 DOM
10. 2026-06-05
    days on market $289,900 Active 43 DOM
11. 2026-06-03
    days on market $289,900 Active 42 DOM
12. 2026-06-02
    days on market $289,900 Active 41 DOM
13. 2026-06-01
    days on market $289,900 Active 40 DOM
14. 2026-05-31
    days on market $289,900 Active 39 DOM
15. 2026-04-22
    listed $289,900 Active 535-char remark

    Show marketing remark (535 chars)

    This updated Franklinton duplex delivers comfortable modern living in a neighborhood known for its growth and character. Fully renovated in 2024, the layout offers practical flow and inviting spaces that work well for tenants or an owner occupant. Bedrooms are nicely sized, and the overall footprint feels bright and functional. With strong rental history and a location close to downtown conveniences, this duplex makes a compelling addition to any portfolio. Both units are occupied, please do not disturb tenants. Curb offers only.

16. 2018-09-18
    soldstatus $70,000
17. 2018-09-07
    soldstatus $70,000 Closed 336-char remark

    Show marketing remark (336 chars)

    Franklinton!! Great double located just off McKinley and Central. Units have been freshly painted, updated kitchen, come with stove, dishwasher, and refrigerator. Each unit has 2 beds, 1 bath and a full basement. Newer roof and windows, both have new electrical panels and hot water tanks. Plenty of off street parking behind the units.

18. 2018-08-06
    historical Contingent Finance and Inspection 336-char remark

    Show marketing remark (336 chars)

    Franklinton!! Great double located just off McKinley and Central. Units have been freshly painted, updated kitchen, come with stove, dishwasher, and refrigerator. Each unit has 2 beds, 1 bath and a full basement. Newer roof and windows, both have new electrical panels and hot water tanks. Plenty of off street parking behind the units.

19. 2018-08-04
    listed $74,900 Active 336-char remark

    Show marketing remark (336 chars)

    Franklinton!! Great double located just off McKinley and Central. Units have been freshly painted, updated kitchen, come with stove, dishwasher, and refrigerator. Each unit has 2 beds, 1 bath and a full basement. Newer roof and windows, both have new electrical panels and hot water tanks. Plenty of off street parking behind the units.

20. 2017-03-19
    soldstatus $24,000 Closed
21. 2017-03-06
    soldstatus $24,000
22. 2017-02-11
    status Pending
23. 2017-02-02
    price $27,500
24. 2016-10-26
    price $29,000
25. 2016-06-03
    price $35,500
26. 2016-05-06
    price $37,500
27. 2016-01-26
    price $39,500
28. 2015-12-28
    price $44,500
29. 2015-10-28
    listed $49,000 Active
30. 2014-03-04
    soldstatus $39,700
31. 2014-01-02
    soldstatus $12,000
32. 2013-12-26
    soldstatus $12,000
33. 2013-12-05
    historical
34. 2013-09-27
    listed $19,900
35. 2003-12-10
    soldstatus $65,000
36. 2000-04-04
    soldstatus $24,000
37. 1998-10-13
    soldstatus $64,000
38. 1998-09-16
    soldstatus $167,500
39. 1984-03-01
    soldstatus $13,300

ⓘ 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: $2,015 · $168/mo
• Projected year-2 tax: $3,269 · $272/mo
• Expected delta: +$1,254/yr (+$104/mo · 62.2%)

ⓘ 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 · 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,180
• − Mortgage interest: −$16,239
• − Property taxes: −$2,015
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,654
• − Management: −$2,654
• − Depreciation: −$8,433
• Taxable loss: −$266
• Est. tax savings @ 24.0%: +$64
• After-tax cash flow: $4,568/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): 4,819
• Household income: $32,321
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 126.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 43% Hispanic / Latino 28% Two or more races 21% Black 18% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 5%
• Common ancestry: Lithuanian 1% Slovak 1% Ukrainian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 86% English-only · Spanish 11% Korean 1% Russian/Polish/Slavic 0%

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: ▲ 231.44%
• Current HPI: 654.0855
• Rent YoY: —
• 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

+2079.7% since first listed

25 events — show timeline

• 2026-04-22 Listed $289,900 CBRMLS
• 2018-09-18 Sold (Public Records) $70,000 Public Records
• 2018-09-07 Sold (MLS) $70,000 CBRMLS
• 2018-08-06 Contingent — CBRMLS
• 2018-08-04 Listed $74,900 CBRMLS
• 2017-03-19 Sold (MLS) $24,000 CBRMLS
• 2017-03-06 Sold (Public Records) $24,000 Public Records
• 2017-02-11 Pending — CBRMLS
• 2017-02-02 Price Changed $27,500 CBRMLS
• 2016-10-26 Price Changed $29,000 CBRMLS
• 2016-06-03 Price Changed $35,500 CBRMLS
• 2016-05-06 Price Changed $37,500 CBRMLS
• 2016-01-26 Price Changed $39,500 CBRMLS
• 2015-12-28 Price Changed $44,500 CBRMLS
• 2015-10-28 Listed $49,000 CBRMLS
• 2014-03-04 Sold (Public Records) $39,700 Public Records
• 2014-01-02 Sold (Public Records) $12,000 Public Records
• 2013-12-26 Sold (MLS) $12,000 CBRMLS
• 2013-12-05 Listing Removed — CBRMLS
• 2013-09-27 Listed $19,900 CBRMLS
• 2003-12-10 Sold (Public Records) $65,000 Public Records
• 2000-04-04 Sold (Public Records) $24,000 Public Records
• 1998-10-13 Sold (Public Records) $64,000 Public Records
• 1998-09-16 Sold (Public Records) $167,500 Public Records
• 1984-03-01 Sold (Public Records) $13,300 Public Records

Property tax history

+7.9%/yr

Latest (2024): $2,015 · +1.3% YoY. Source: county tax records.