1822 S 6th St #1824 · Columbus, OH 43207

$204,900

4 bd · 0.0 ba · 1,942 sqft · MultiFamily · 6 Days on market

Built 1900 Fair condition 3,920 sqft lot $106/sqft · 17% below area Est $247k · 17% under ↓ 9% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• 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

Don't miss this fantastic investment opportunity in a desirable south side location! This well-maintained duplex features two spacious units, each offering 2 bedrooms, 1 full bath, and private basement space, providing plenty of room and functionality for tenants. Both units are currently occupied on month-to-month leases, offering immediate cash flow with flexibility for future rent increases or owner-occupant potential. Current rents are $936 and $900, with tenants responsible for their own living spaces and enjoying generous layouts. The property also features a fenced yard, a shared rear patio perfect for outdoor relaxation, and off-street parking in the rear--highly desirable amenities

Key facts

• Fenced yard
• Off-street parking
• 3,920 sq ft lot

Tags

• FENCED YARD
• OFF-STREET PARKING

Property features AI

Finance

• Financial info: Annual property tax (2024): $2,953

Exterior

• Utilities: Public sewer
• Home design: Duplex; Built in 1900
• Construction: Lot approximately 0.09 acres (about 3,920 sq ft)
• Exterior features: Located in the Hungarian Village neighborhood; Cross street: Innis

Interior

• Interior features: Duplex with 2 total units

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $205k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $814 ($10k/yr) — positive. Per door: $407/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Cap rate 11.1% 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 (+2.3%/yr); 197 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,823/mo this rent would consume 54% of the median local household income ($63k/yr) (locally 1679% 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 $1k of loan paydown is wiped out by about $6k 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 + 2.3% rent growth), your $57k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $204,900

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.38% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.03%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $247,224
• List price: $204,900
• Delta: -17.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
166-168 E Innis Ave	0.08mi	4/—	2,000 (+3%)	12mo	$220,000	$110	82
1715-1717 S 4th St	0.21mi	4/—	1,860 (-4%)	14mo	$135,000	$73	72
72-74 E Innis Ave	0.18mi	4/—	2,052 (+6%)	13mo	$130,000	$63	71
357 E Welch Ave	0.39mi	4/—	1,976 (+2%)	10mo	$300,000	$152	71
207 Southwood Ave #205	0.47mi	4/—	2,066 (+6%)	11mo	$225,000	$109	58
1586-1588 S 4th St	0.34mi	4/—	1,716 (-12%)	15mo	$307,000	$179	53
1360 S High St	0.68mi	3/— (-1)	1,913 (-2%)	10mo	$255,000	$133	52
212-214 E Moler St	0.68mi	4/—	2,016 (+4%)	20mo	$400,000	$198	45

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.29×
• Total profit: $16,775
• Equity at exit: $30,551

10-year hold

• IRR: 16.2%
• Equity multiple: 2.29×
• Total profit: $73,785
• Equity at exit: $17,716

Cash invested: $57,372 (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 43207

• Rents YoY: 2.3%
• Active inventory: 197
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,823 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,074/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $814

Break-even live

Break-even rent $1,792

Max offer price $204,900

Occupancy floor 66%

Sensitivity live

Price	-10% $956	-5% $885	+0% $814	+5% $743	+10% $673
Rent	-10% $591	-5% $703	+0% $814	+5% $926	+10% $1,037
Rate	-1.0pp $917	-0.5pp $866	base $814	+0.5pp $761	+1.0pp $707

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,824
Total (2 units)			$2,823

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
529 E Morrill Ave Columbus, OH	3.0	1.0	1318	$1,600	$1.21	4d	1	0.54mi
357 Frebis Ave #5 Columbus, OH	3.0	3.5	1748	$2,750	$1.57	44d	1	0.74mi
357 Frebis Ave #6 Columbus, OH	3.0	3.5	2160	$2,950	$1.37	44d	1	0.74mi
55 Fornof Rd Columbus, OH	1.0–4.0	1.0–2.0	924	$2,160	$2.34	2d	1	0.78mi
106 E Gates St Columbus, OH	3.0	1.5	1472	$2,700	$1.83	15d	1	0.89mi
530 Hanford St Unit 1496117P Columbus, OH	4.0	3.0	1862	$7,310	$3.93	3d	1	0.91mi
396 E Mithoff St Columbus, OH	3.0	1.5	1380	$2,295	$1.66	11d	1	0.96mi
1110 S 4th St Columbus, OH	3.0	2.0	1465	$900	$0.61	8d	1	1.04mi
573 E Mithoff St Columbus, OH	3.0	1.5	1300	$2,100	$1.62	44d	1	1.04mi
506 Thurman Ave Columbus, OH	3.0	1.0	1500	$1,600	$1.07	3d	1	1.09mi
315 Siebert St Columbus, OH	3.0	1.0	1597	$2,200	$1.38	24d	1	1.24mi
2089 Lockbourne Rd Columbus, OH	5.0	2.0	2534	$2,800	$1.10	11d	1	1.29mi
895 S Wall St Columbus, OH	3.0	3.5	2139	$4,500	$2.10	3d	1	1.36mi
901 S Front St Columbus, OH	3.0	2.5	1743	$2,800	$1.61	44d	1	1.36mi
630 Stanley Ave Columbus, OH	3.0	1.0	1300	$1,949	$1.50	24d	1	1.48mi
966 S 18th St Columbus, OH	3.0	1.5	1428	$2,400	$1.68	44d	1	1.50mi

Listing history 8 events

1. 2026-06-21
   days on market $204,900 Active 6 DOM
2. 2026-06-18
   days on market $204,900 Active 3 DOM
3. 2026-06-17
   days on market $204,900 Active 2 DOM
4. 2026-06-16
   statusdays on marketlisting id $204,900 Active 1 DOM
5. 2026-05-06
   historical
6. 2026-04-23
   price $204,900
7. 2026-04-15
   price $214,900
8. 2026-03-26
   listed $224,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $33,876
• − Mortgage interest: −$11,478
• − Property taxes: −$3,074
• − Insurance: −$1,024
• − Repairs & maintenance: −$2,710
• − Management: −$2,710
• − Depreciation: −$5,961
• Taxable income: $6,920
• Est. tax owed @ 24.0%: −$1,661
• After-tax cash flow: $8,109/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This property requires extensive repairs and maintenance to improve its condition and increase its value. The roof, exterior siding, flooring, interior walls/paint, and HVAC system all need attention.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding shows signs of wear and discoloration.
• Major flooring — The flooring in the interior appears to be carpeted and in need of cleaning or replacement.
• Major interior walls/paint — The interior walls and paint show signs of wear and discoloration.
• Major HVAC/mechanicals — The HVAC system appears to be old and may need replacement or repair.

Value-add opportunities

• Both repair roof — Repairing the roof will improve the overall condition of the property and increase its value.
• Both repair exterior siding — Repairing the exterior siding will improve the curb appeal and increase the property's value.
• Both repair flooring — Repairing the flooring will improve the interior condition and increase the property's value.
• Both repair interior walls/paint — Repairing the interior walls and paint will improve the condition of the interior and increase the property's value.
• Both repair HVAC/mechanicals — Repairing the HVAC system will improve the comfort and energy efficiency of the property and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding shows signs of wear and discoloration.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be carpeted and in need of cleaning or replacement.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint show signs of wear and discoloration.	Major	$15,000–50,000
HVAC/mechanicals · The HVAC system appears to be old and may need replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both repair roof — Repairing the roof will improve the overall condition of the property and increase its value. ↑
• Both repair exterior siding — Repairing the exterior siding will improve the curb appeal and increase the property's value. ↑
• Both repair flooring — Repairing the flooring will improve the interior condition and increase the property's value. ↑
• Both repair interior walls/paint — Repairing the interior walls and paint will improve the condition of the interior and increase the property's value. ↑
• Both repair HVAC/mechanicals — Repairing the HVAC system will improve the comfort and energy efficiency of the property and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 47,272
• Household income: $63,310
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1679.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -244.33%
• Current HPI: 268.3028
• Rent YoY: ▲ 2.32%
• 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

-8.9% since first listed

5 events — show timeline

• 2026-06-15 Listed $204,900 CBRMLS
• 2026-05-06 Listing Removed — CBRMLS
• 2026-04-23 Price Changed $204,900 CBRMLS
• 2026-04-15 Price Changed $214,900 CBRMLS
• 2026-03-26 Listed $224,900 CBRMLS