406 S Hague Ave · Columbus, OH 43204

$195,000

4 bd · 2.0 ba · 1,836 sqft · MultiFamily · 123 Days on market

Built 1920 Good condition 3,920 sqft lot $106/sqft · 9% below area Est $215k · 9% under

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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 +24.2/30.0
• ARV discount +11.6/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Schools +1.1/10.0
• 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 MLS

This updated, move-in ready duplex offers two 2-bedroom, 1-bath units. Both units are vacant and ready for a tenant or owner-occupant. Both units feature separate gas, water, and electric meters. Off-street parking is available along the side and rear of the property. Situated on a quiet street near the Westgate neighborhood, this location provides convenient access to public transportation, shopping, schools, and more. An excellent opportunity for investors or owner-occupants--easy to rent, simple to manage, and ready to generate cash flow.

Key facts

• Quiet street
• Off street parking
• Move in ready

Tags

• MOVE IN READY
• OFF STREET PARKING
• QUIET STREET
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive. Per door: $195/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.9% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); Briggs High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 980 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.
• Market conditions: Rents rising fast (+4.5%/yr); 307 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 44% 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 $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 + 4.5% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $155k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.13% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $214,597
• List price: $195,000
• Delta: -9.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
361 S Harris Ave #361	0.07mi	5/— (+1)	1,890 (+3%)	4mo	$180,000	$95	83
266-268 S Powell Ave	0.21mi	4/—	1,673 (-9%)	0mo	$210,000	$126	75
423 S Hague Ave	0.04mi	3/— (-1)	1,594 (-13%)	7mo	$168,000	$105	65
3252-3254 Sullivant Ave	0.70mi	4/—	1,848 (+1%)	3mo	$160,000	$87	64
610-612 S Warren Ave	0.32mi	4/—	2,016 (+10%)	11mo	$215,000	$107	59
51 S Ogden Ave	0.53mi	4/—	1,678 (-9%)	2mo	$150,000	$89	59
905-907 Racine Ave	0.71mi	4/—	1,716 (-6%)	8mo	$66,000	$38	49
857 Regina Ct	0.65mi	4/—	2,100 (+14%)	2mo	$165,000	$79	44
898-900 Racine Ave	0.71mi	4/—	1,716 (-6%)	16mo	$190,000	$111	43
2783-2785 Vanderberg Ave	0.69mi	4/—	1,581 (-14%)	8mo	$179,000	$113	38
2748 Vanderberg Ave	0.64mi	4/—	1,581 (-14%)	16mo	$160,000	$101	34
868-870 Wiltshire Rd	0.68mi	4/—	1,584 (-14%)	14mo	$257,500	$163	34

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-3,405
• Equity at exit: $29,075

10-year hold

• IRR: 9.6%
• Equity multiple: 1.79×
• Total profit: $43,274
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 10 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $239,900 ($122/sqft)
• Median days on market: 104 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: -4.0% vs current asking $/sqft

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

ZIP-level market 43204

• Rents YoY: 4.5%
• Active inventory: 307
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,199 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $390

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,200
Total (2 units)			$2,199

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 77%

Sensitivity live

Price	-10% $524	-5% $457	+0% $390	+5% $322	+10% $255
Rent	-10% $216	-5% $303	+0% $390	+5% $476	+10% $563
Rate	-1.0pp $488	-0.5pp $439	base $390	+0.5pp $339	+1.0pp $288

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
382 S Hague Ave Unit A Columbus, OH	2.0	1.0	581	$995	$1.71	83d	1	0.00mi
382 S Hague Ave Unit A Columbus, OH	2.0	1.0	581	$995	$1.71	81d	1	0.00mi
406 1/2 S Hague Ave Columbus, OH	2.0	1.0	918	$765	$0.83	139d	1	0.03mi
361 S Harris Ave Unit A Columbus, OH	2.0	1.0	950	$975	$1.03	74d	1	0.04mi
361 S Harris Ave Unit A Columbus, OH	2.0	1.0	950	$900	$0.95	10d	1	0.04mi
390 S Powell Ave Columbus, OH	2.0	1.0	775	$1,025	$1.32	98d	1	0.07mi
390 S Powell Ave Columbus, OH	2.0	1.0	775	$1,000	$1.29	88d	1	0.07mi
396 S Powell Ave Unit 396 Columbus, OH	2.0	1.0	1022	$925	$0.91	139d	1	0.07mi
324 S Powell Ave Columbus, OH	2.0	1.0	950	$950	$1.00	88d	1	0.11mi
322 S Powell Ave Columbus, OH	2.0	1.0	1100	$950	$0.86	115d	1	0.11mi
364 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$975	$0.97	139d	1	0.14mi
338 S Chase Ave Unit C Columbus, OH	2.0	1.0	1122	$1,045	$0.93	81d	1	0.15mi
2845 Fremont St Columbus, OH	2.0	1.0	1016	$1,350	$1.33	7d	1	0.15mi
427 S Ogden Ave Columbus, OH	2.0	1.0	980	$1,200	$1.22	10d	1	0.16mi
427 S Ogden Ave Unit 427 Columbus, OH	2.0	1.0	980	$1,350	$1.38	103d	1	0.16mi
375 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$999	$0.99	42d	1	0.17mi
485 S Warren Ave Columbus, OH	3.0	1.0	978	$1,295	$1.32	7d	1	0.17mi
475 S Ogden Ave Columbus, OH	2.0	1.0	888	$1,100	$1.24	119d	1	0.20mi
255 S Powell Ave Columbus, OH	2.0	1.0	1040	$950	$0.91	1d	1	0.20mi
255 S Powell Ave Unit Bml Columbus, OH	2.0	1.0	1040	$950	$0.91	7d	1	0.20mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	115d	1	0.21mi
375 S Burgess Ave Columbus, OH	2.0	1.0	732	$950	$1.30	99d	1	0.21mi
262 S Chase Ave Unit B Columbus, OH	2.0	1.0	1010	$1,025	$1.01	10d	1	0.22mi
2895 Sullivant Ave Unit 6 Columbus, OH	1.0	1.0	600	$810	$1.35	119d	1	0.30mi
598 S Hague Ave Columbus, OH	2.0	1.0	912	$950	$1.04	67d	1	0.30mi
598 S Hague Ave Columbus, OH	2.0	1.0	912	$950	$1.04	57d	1	0.30mi
600 Racine Ave Unit 1 Columbus, OH	3.0	1.0	1062	$1,440	$1.36	10d	1	0.31mi
602 Racine Ave Unit 1 Columbus, OH	3.0	1.0	1100	$1,390	$1.26	71d	1	0.32mi
600 S Warren Ave Columbus, OH	2.0	1.0	1008	$1,428	$1.42	10d	1	0.33mi
148 S Powell Ave Columbus, OH	2.0	1.0	900	$1,000	$1.11	83d	1	0.34mi
148 S Powell Ave Unit B Columbus, OH	2.0	1.0	900	$1,000	$1.11	103d	1	0.34mi
2557 Sullivant Ave Columbus, OH	3.0	1.0	1000	$1,000	$1.00	5d	1	0.37mi
2545 Sullivant Ave Unit 2545 Columbus, OH	3.0	1.0	1064	$1,295	$1.22	10d	1	0.38mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	106d	1	0.38mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$900	$0.85	88d	1	0.38mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,295	$1.22	10d	1	0.38mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	139d	1	0.39mi
486-488 S Huron Ave Unit 488 Columbus, OH	2.0	1.0	1104	$1,150	$1.04	139d	1	0.40mi
668 S Hague Ave Columbus, OH	2.0	1.0	1056	$1,150	$1.09	10d	1	0.40mi
530 S Terrace Ave Columbus, OH	2.0	1.0	896	$900	$1.00	93d	1	0.43mi

Listing history 28 events

1. 2026-06-22
   days on market $195,000 Active 123 DOM
2. 2026-06-21
   days on market $195,000 Active 122 DOM
3. 2026-06-18
   days on market $195,000 Active 119 DOM
4. 2026-06-17
   days on market $195,000 Active 118 DOM
5. 2026-06-16
   days on market $195,000 Active 117 DOM
6. 2026-06-15
   days on market $195,000 Active 116 DOM
7. 2026-06-13
   days on market $195,000 Active 114 DOM
8. 2026-06-13
   days on market $195,000 Active 113 DOM
9. 2026-06-09
   days on market $195,000 Active 110 DOM
10. 2026-06-08
    days on market $195,000 Active 109 DOM
11. 2026-06-07
    days on market $195,000 Active 108 DOM
12. 2026-06-05
    days on market $195,000 Active 105 DOM
13. 2026-06-03
    days on market $195,000 Active 104 DOM
14. 2026-06-02
    days on market $195,000 Active 103 DOM
15. 2026-06-01
    days on market $195,000 Active 102 DOM
16. 2026-05-31
    days on market $195,000 Active 101 DOM
17. 2026-05-18
    price $195,000 547-char remark

    Show marketing remark (547 chars)

    This updated, move-in ready duplex offers two 2-bedroom, 1-bath units. Both units are vacant and ready for a tenant or owner-occupant. Both units feature separate gas, water, and electric meters. Off-street parking is available along the side and rear of the property. Situated on a quiet street near the Westgate neighborhood, this location provides convenient access to public transportation, shopping, schools, and more. An excellent opportunity for investors or owner-occupants--easy to rent, simple to manage, and ready to generate cash flow.

18. 2026-04-21
    price $200,000 547-char remark

    Show marketing remark (547 chars)

    This updated, move-in ready duplex offers two 2-bedroom, 1-bath units. Both units are vacant and ready for a tenant or owner-occupant. Both units feature separate gas, water, and electric meters. Off-street parking is available along the side and rear of the property. Situated on a quiet street near the Westgate neighborhood, this location provides convenient access to public transportation, shopping, schools, and more. An excellent opportunity for investors or owner-occupants--easy to rent, simple to manage, and ready to generate cash flow.

19. 2026-02-19
    listed $205,000 Active 547-char remark

    Show marketing remark (547 chars)

    This updated, move-in ready duplex offers two 2-bedroom, 1-bath units. Both units are vacant and ready for a tenant or owner-occupant. Both units feature separate gas, water, and electric meters. Off-street parking is available along the side and rear of the property. Situated on a quiet street near the Westgate neighborhood, this location provides convenient access to public transportation, shopping, schools, and more. An excellent opportunity for investors or owner-occupants--easy to rent, simple to manage, and ready to generate cash flow.

20. 2026-02-13
    historical
21. 2025-09-19
    listed $210,000 Active
22. 2022-06-10
    price $850
23. 2022-04-08
    soldstatus $155,000 Closed
24. 2022-03-31
    status Pending
25. 2022-03-09
    historical Contingent Finance and Inspection
26. 2022-03-07
    status Active
27. 2022-03-01
    historical Contingent Finance and Inspection
28. 2022-02-25
    listed $155,000 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 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: $26,388
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,111
• − Management: −$2,111
• − Depreciation: −$5,673
• Taxable income: $1,670
• Est. tax owed @ 24.0%: −$401
• After-tax cash flow: $4,274/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $9,180–$27,540 screening

This updated, move-in ready duplex offers two 2-bedroom, 1-bath units. Both units are vacant and ready for a tenant or owner-occupant. The property is in good condition with minimal maintenance required.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace awning windows — Improves energy efficiency and aesthetics ↑
• Both Replace HVAC system — Improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 11/100

Zoned Schools

Elementary Burroughs Elementary School F OH #1,471/1,584 Nat'l #39,071/41,679 Middle Hilltonia Middle School F OH #645/654 Nat'l #13,307/14,009 High Briggs High School F OH #726/781 Nat'l #15,755/17,239

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): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 11% 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: 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%

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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: ▼ -220.67%
• Current HPI: 265.7711
• Rent YoY: ▲ 4.49%
• 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

+25.8% since first listed

12 events — show timeline

• 2026-05-18 Price Changed $195,000 CBRMLS
• 2026-04-21 Price Changed $200,000 CBRMLS
• 2026-02-19 Listed $205,000 CBRMLS
• 2026-02-13 Listing Removed — CBRMLS
• 2025-09-19 Listed $210,000 CBRMLS
• 2022-06-10 Price Changed $850 RENT.
• 2022-04-08 Sold (MLS) $155,000 CBRMLS
• 2022-03-31 Pending — CBRMLS
• 2022-03-09 Contingent — CBRMLS
• 2022-03-07 Relisted — CBRMLS
• 2022-03-01 Contingent — CBRMLS
• 2022-02-25 Listed $155,000 CBRMLS