50 W Broad St #2403 · Columbus, OH 43215

$195,000

1 bd · 1.0 ba · 904 sqft · Condo · 227 Days on market

Built 1927 Excellent condition $216/sqft · 32% below area Est $288k · 32% under $638/mo HOA · 37% of rent ↓ 31% since listing

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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
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.2/10.0
• Cash flow +3.1/30.0
• Rent growth +2.4/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

You can't miss the stunning views from this one bedroom, one bathroom condo on the 24th floor of the iconic LeVeque Tower in Downtown Columbus! Offering over 900 sqft of living space with an open floor plan complete with a neutral kitchen w/ SS appliances, quartz countertops and a breakfast bar that overlooks the living space. A spacious bedroom w/ closet & white marble bathroom w/ walk-in shower! LeVeque Tower offers hotel-like living in a prime downtown location just steps away from the Scioto Mile & all of the downtown attractions, and offers amenities such as a 24-hr concierge, on-site restaurant & Starbucks, fitness facility & a 100% tax abatement! What an incredible opportunity! Optional garage parking available!

Key facts

• $638 HOA
• Garage
• Built 1927

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-626 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (46.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (11.7% below list).
• Recommended offer: $104k (46.4% below list) — sets the bar for cash-flow.
• Cap rate 2.4% vs local median 3.9% in Columbus — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Dominion Middle School (math 39% / reading 50%, grade D, #477 of 654 statewide, top 74%, 717 students, 0% FRL); Whetstone High School (math 17% / reading 44%, grade F, #615 of 781 statewide, top 79%, 976 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 42% at this address vs 20% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.5%/yr); 221 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $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.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,449 (46.4% 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 227 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 2.44%
• Cash-on-cash: -13.75%
• DSCR: 0.39
• GRM: 9.4

CMA / ARV

• ARV (median comp): $287,661
• List price: $195,000
• Delta: -32.21%
• 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
50 W Broad St #1907	0.00mi	1/1.0	750 (-17%)	1mo	$150,000	$200	74
150 E Main St #303	0.50mi	1/1.0	813 (-10%)	2mo	$205,000	$252	59
273 Lear #6	1.08mi	1/1.0	870 (-4%)	2mo	$189,500	$218	57
53 Buttles Ave	1.00mi	2/1.5 (+1)	888 (-2%)	2mo	$360,000	$405	53
444 N Front St #210	0.61mi	1/1.0	1,043 (+15%)	1mo	$205,000	$197	45
984 Highland St	1.40mi	2/1.0 (+1)	982 (+9%)	1mo	$290,000	$295	45
448 W Nationwide Blvd #204	0.72mi	1/1.0	692 (-24%)	0mo	$275,000	$397	41
992 Delaware Ave	1.44mi	2/1.0 (+1)	1,004 (+11%)	2mo	$330,000	$329	40
795 Mohawk St Unit B	1.21mi	2/1.0 (+1)	796 (-12%)	0mo	$309,000	$388	40
544 S Front St #115	0.83mi	1/1.0	685 (-24%)	1mo	$192,000	$280	39
845 N High St #203	1.19mi	1/1.0	770 (-15%)	2mo	$250,000	$325	39
619 S Lazelle St	0.95mi	2/1.5 (+1)	1,120 (+24%)	0mo	$395,000	$353	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -47.9%
• Equity multiple: -0.39×
• Total profit: $-76,081
• Equity at exit: $29,075

10-year hold

• IRR: —
• Equity multiple: -1.48×
• Total profit: $-135,367
• Equity at exit: $16,860

Cash invested: $54,600 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $217,000 ($301/sqft)
• Median days on market: 62 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +5.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43215

• Rents YoY: -0.5%
• Active inventory: 221
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$638
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-626

Break-even live

Break-even rent $2,513

Max offer price $104,449

Occupancy floor —

Sensitivity live

Price	-10% $-491	-5% $-558	+0% $-626	+5% $-693	+10% $-761
Rent	-10% $-762	-5% $-694	+0% $-626	+5% $-558	+10% $-490
Rate	-1.0pp $-528	-0.5pp $-576	base $-626	+0.5pp $-676	+1.0pp $-728

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: $48,750
• Closing costs: $5,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 W Broad St Columbus, OH	1.0–2.0	1.0–2.5	1272	$1,669	$1.31	0d	9	0.03mi
51 N High St #304 Columbus, OH	1.0	1.0	786	$2,300	$2.93	139d	1	0.11mi
12 W Gay St Columbus, OH	2.0	1.0–2.0	878	$1,956	$2.23	5d	30	0.13mi
11 E Gay St Columbus, OH	1.0	1.0	1168	$1,542	$1.32	40d	5	0.13mi
70 N High St Columbus, OH	2.0	1.0–3.0	1193	$3,684	$3.09	0d	154	0.14mi
70 N High St Columbus, OH	1.0–2.0	1.0–3.0	1193	$1,600	$1.34	76d	23	0.14mi
8 E Long St Columbus, OH	1.0–2.0	1.0–2.0	720	$1,349	$1.87	2d	9	0.23mi
1307 Bluff Ave Columbus, OH	2.0	1.0	830	$1,350	$1.63	115d	1	0.23mi
160 N Wall St Unit L303 Columbus, OH	2.0	2.0	1052	$2,550	$2.42	10d	1	0.24mi
110 N 3rd St #507 Columbus, OH	1.0	1.0	759	$1,850	$2.44	119d	1	0.28mi
155 E Broad St Columbus, OH	1.0–3.0	1.0–3.5	1342	$1,830	$1.36	40d	44	0.28mi
209 S High St Columbus, OH	3.0	1.0–3.0	1254	$1,877	$1.50	0d	48	0.31mi
150 E Gay St Columbus, OH	2.0	1.0–3.0	831	$1,880	$2.26	3d	87	0.31mi
1366 Olivine Dr Columbus, OH	2.0	1.0–2.0	727	$1,660	$2.28	0d	21	0.32mi
150 N 3rd St Columbus, OH	1.0	1.0	586	$1,250	$2.13	10d	5	0.34mi
60 E Spring St Columbus, OH	2.0	2.0	1174	$1,810	$1.54	6d	6	0.35mi
195 E Broad St Columbus, OH	1.0–2.0	1.0–2.0	895	$1,290	$1.44	0d	83	0.36mi
303 S Front St Columbus, OH	2.0	1.0–2.0	746	$1,696	$2.27	3d	14	0.43mi
226 E Gay St Unit G22 Columbus, OH	1.0	1.0	750	$1,850	$2.47	42d	1	0.44mi
78 E Chestnut St #405 Columbus, OH	1.0	2.0	1115	$1,750	$1.57	115d	1	0.45mi
223 E Town St Columbus, OH	1.0–2.0	1.0–2.0	961	$1,000	$1.04	0d	25	0.46mi
230 E Long St Columbus, OH	2.0	1.0–2.0	913	$1,820	$1.99	0d	31	0.47mi
150 E Main St Columbus, OH	1.0–2.0	1.0–2.0	1016	$1,257	$1.24	10d	2	0.49mi
265 E State St Columbus, OH	2.0	1.0–2.0	736	$1,540	$2.09	0d	16	0.50mi
309 S 4th St Columbus, OH	1.0–2.0	1.0–2.0	966	$1,395	$1.44	6d	6	0.54mi
309 S 4th St Columbus, OH	2.0	2.0	1491	$2,500	$1.68	77d	6	0.54mi
433 W Broad St Columbus, OH	2.0	1.0–2.0	752	$1,802	$2.40	0d	32	0.56mi
315 E Long St Columbus, OH	2.0	1.0–2.0	946	$1,506	$1.59	0d	24	0.57mi
367 E Broad St Columbus, OH	2.0	1.0–2.0	669	$1,470	$2.20	99d	15	0.60mi
50 S Grant Ave Columbus, OH	2.0	1.0–2.0	901	$2,436	$2.70	2d	7	0.61mi
300 E Rich St Columbus, OH	2.0	1.0	600	$3,500	$5.83	67d	1	0.62mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$1,966	$1.69	0d	139	0.65mi
501 W Broad St Columbus, OH	3.0	1.0–2.5	1166	$1,932	$1.66	139d	15	0.65mi
401 W Rich St Columbus, OH	1.0–2.0	1.0–2.0	957	$1,014	$1.06	0d	17	0.65mi
409 Oak St Columbus, OH	2.0	1.0–2.0	801	$2,002	$2.50	10d	3	0.68mi
463 N High St Unit 5D Columbus, OH	1.0	1.0	628	$1,350	$2.15	139d	1	0.68mi
463 N High St Unit 3C Columbus, OH	1.0	1.0	884	$1,450	$1.64	139d	1	0.68mi
463 N High St Unit 4D Columbus, OH	1.0	1.5	628	$1,350	$2.15	79d	1	0.68mi
55 W Livingston Ave #203 Columbus, OH	1.0	1.0	649	$1,650	$2.54	0d	1	0.68mi
530 W Town St Columbus, OH	1.0	1.0	640	$1,275	$1.99	0d	4	0.73mi

HOA detail $638/mo · $7,656/yr condo

• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-31
   days on market $195,000 Active 227 DOM
2. 2026-08-30
   days on market $195,000 Active 226 DOM
3. 2026-08-29
   days on market $195,000 Active 225 DOM
4. 2026-08-28
   days on market $195,000 Active 224 DOM
5. 2026-08-27
   days on market $195,000 Active 223 DOM
6. 2026-08-26
   days on market $195,000 Active 222 DOM
7. 2026-08-25
   price $195,000 Active 221 DOM
8. 2026-08-25
   days on market $199,900 Active 221 DOM
9. 2026-08-24
   days on market $199,900 Active 220 DOM
10. 2026-08-23
    days on market $199,900 Active 219 DOM
11. 2026-08-22
    days on market $199,900 Active 218 DOM
12. 2026-08-21
    days on market $199,900 Active 217 DOM
13. 2026-08-20
    days on market $199,900 Active 216 DOM
14. 2026-08-19
    days on market $199,900 Active 215 DOM
15. 2026-08-18
    days on market $199,900 Active 214 DOM
16. 2026-08-17
    days on market $199,900 Active 213 DOM
17. 2026-08-16
    days on market $199,900 Active 212 DOM
18. 2026-08-15
    days on market $199,900 Active 211 DOM
19. 2026-08-14
    days on market $199,900 Active 210 DOM
20. 2026-08-13
    days on market $199,900 Active 209 DOM
21. 2026-08-12
    days on market $199,900 Active 208 DOM
22. 2026-08-12
    status $199,900 Active 207 DOM
23. 2026-08-11
    days on market $199,900 Contingent 207 DOM
24. 2026-08-10
    days on market $199,900 Contingent 206 DOM
25. 2026-08-09
    days on market $199,900 Contingent 205 DOM
26. 2026-08-08
    days on market $199,900 Contingent 204 DOM
27. 2026-08-07
    days on market $199,900 Contingent 203 DOM
28. 2026-08-06
    days on market $199,900 Contingent 202 DOM
29. 2026-08-05
    days on market $199,900 Contingent 201 DOM
30. 2026-08-04
    days on market $199,900 Contingent 200 DOM
31. 2026-08-03
    days on market $199,900 Contingent 199 DOM
32. 2026-07-31
    days on market $199,900 Contingent 196 DOM
33. 2026-07-30
    days on market $199,900 Contingent 195 DOM
34. 2026-07-30
    days on market $199,900 Contingent 194 DOM
35. 2026-07-28
    days on market $199,900 Contingent 193 DOM
36. 2026-07-26
    days on market $199,900 Contingent 191 DOM
37. 2026-07-24
    days on market $199,900 Contingent 189 DOM
38. 2026-07-23
    days on market $199,900 Contingent 188 DOM
39. 2026-07-22
    days on market $199,900 Contingent 187 DOM
40. 2026-07-21
    days on market $199,900 Contingent 186 DOM
41. 2026-07-20
    days on market $199,900 Contingent 185 DOM
42. 2026-07-18
    days on market $199,900 Contingent 183 DOM
43. 2026-07-18
    days on market $199,900 Contingent 182 DOM
44. 2026-07-16
    days on market $199,900 Contingent 181 DOM
45. 2026-07-15
    days on market $199,900 Contingent 180 DOM
46. 2026-07-14
    days on market $199,900 Contingent 179 DOM
47. 2026-07-13
    days on market $199,900 Contingent 178 DOM
48. 2026-07-13
    days on market $199,900 Contingent 177 DOM
49. 2026-07-12
    days on market $199,900 Contingent 176 DOM
50. 2026-07-10
    days on market $199,900 Contingent 175 DOM

ⓘ 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 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 · 16 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: $20,656
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − HOA: −$7,656
• − Depreciation: −$5,673
• Taxable loss: −$10,801
• Est. tax savings @ 24.0%: +$2,592
• After-tax cash flow: $-4,917/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

Excellent 95/100 None rehab

This move-in-ready condo in the LeVeque Tower offers stunning views and modern amenities, making it an excellent investment opportunity.

Value-add opportunities

• Both Paint the interior walls — Neutral paint may not appeal to all buyers ↑
• Both Replace the hardwood flooring — Hardwood flooring is durable and timeless ↑
• Both Install a smart thermostat — Modernizes the home and saves energy ↑

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Hubbard Elementary School F OH #1,242/1,584 Nat'l #32,000/41,679 Middle Dominion Middle School D OH #477/654 Nat'l #4,747/14,009 High Whetstone High School F OH #615/781 Nat'l #10,882/17,239

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

A Composite livability gradescore 81/100

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 · 1,456,139 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 17,836
• Household income: $74,087
• Rent vs Own: 80.2% rent · 19.8% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 9% Hispanic / Latino 6% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · South Korea, Canada, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 1%

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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: ▼ -284.36%
• Current HPI: 113.39
• Rent YoY: ▼ -0.46%
• Metro: Columbus, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

-31.0% since first listed

8 events — show timeline

• 2026-05-16 Contingent — CBRMLS
• 2026-04-02 Relisted — CBRMLS
• 2026-04-01 Contingent — CBRMLS
• 2026-03-10 Price Changed $199,900 CBRMLS
• 2026-01-16 Listed $225,000 CBRMLS
• 2026-01-14 Coming Soon $225,000 CBRMLS
• 2025-02-06 Listing Removed — CBRMLS
• 2025-02-06 Listed $289,900 CBRMLS