333 E 9th Ave · Columbus, OH 43201

$259,000

2 bd · 2.0 ba · 1,540 sqft · MultiFamily public records · 98 Days on market

Built 1920 1,742 sqft lot $168/sqft · 48% below area Est $495k · 48% 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 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 MLS

• Two Unit Apartment Building • Rents Way Below Market, For One Bedroom Units • ±1,540 Square Feet Total Across Entire The Building • Do Not Distrub Tenants • Close Proximity, and Within Walkable Distance, Not Only to The Ohio State University and The Historic Crew Stadium, but also The Ohio State Fairgrounds • ± 0.8 Miles From Interstate-71 Northbound and Southbound, Connecting to Downtown Columbus, I-270, and the Surrounding Area * Curb Offers Only, See A2A remarks.

Key facts

• 1,742 sq ft lot
• Built 1920
• Listed 98 days

Tags

• TWO UNIT APARTMENT BUILDING
• 0.8 MILES FROM INTERSTATE-71

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $259k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive. Per door: $195/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 $250k (3.4% below list).
• Recommended offer: $236k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+2.1%/yr); 136 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2,502/mo this rent would consume 69% of the median local household income ($44k/yr) (locally 4913% 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 $2k of loan paydown is wiped out by about $8k 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 98 days — a 9% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y 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 $42k; list at $259k implies a 509% 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 $235,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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: 0.97% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

• ARV (median comp): $494,796
• List price: $259,000
• Delta: -47.66%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423-425 E 14th Ave	0.36mi	3/— (+1)	1,754 (+14%)	21mo	$265,000	$151	38
966 N 6th St	0.70mi	2/—	1,710 (+11%)	16mo	$399,900	$234	36

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 · 2.14% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-19,331
• Equity at exit: $38,618

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $6,182
• Equity at exit: $22,394

Cash invested: $72,520 (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 43201

• Rents YoY: 2.1%
• Active inventory: 136
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$120 /mo · $1,439/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $391

Break-even live

Break-even rent $2,008

Max offer price $259,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,502
Total (2 units)			$2,502

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
370 E 11th Ave Columbus, OH	2.0–3.0	1.0–2.5	986	$1,581	$1.60	1d	5	0.10mi
1254 N Grant Ave Columbus, OH	2.0	2.5	1600	$2,299	$1.44	23d	1	0.30mi
1522 Indianola Ave Unit C Columbus, OH	3.0	1.5	1270	$1,950	$1.54	23d	1	0.31mi
127 E 8th Ave Columbus, OH	3.0	3.0	2000	$3,800	$1.90	43d	1	0.32mi
303 E 6th Ave Columbus, OH	2.0	1.0–2.0	900	$3,180	$3.53	2d	173	0.36mi
1206 N 4th St Columbus, OH	3.0	1.0–3.0	971	$2,563	$2.64	2d	44	0.38mi
100 E 11th Ave Columbus, OH	2.0	3.0	1440	$2,500	$1.74	43d	1	0.40mi
41 E 9th Ave Columbus, OH	2.0	2.0	1189	$2,450	$2.06	43d	2	0.42mi
1237 Indianola Ave Unit A Columbus, OH	2.0	1.0	1100	$1,625	$1.48	23d	1	0.50mi
1803 N 4th St Columbus, OH	2.0	1.0	1300	$1,250	$0.96	43d	1	0.50mi
1268 Courtland Ave Columbus, OH	3.0	1.5	1300	$1,799	$1.38	3d	1	0.51mi
115 E 5th Ave Columbus, OH	2.0	1.0–2.0	840	$1,915	$2.28	7d	9	0.52mi
1251 Courtland Ave Columbus, OH	1.0–2.0	1.0	951	$1,850	$1.95	10d	11	0.55mi
1254 N High St Columbus, OH	2.0	1.0	1172	$1,775	$1.51	23d	1	0.56mi
1055 Lusso Ave Columbus, OH	1.0–2.0	1.0–2.0	905	$1,738	$1.92	2d	13	0.57mi
54 W 8th Ave Columbus, OH	3.0	2.0	1200	$1,600	$1.33	43d	1	0.59mi
1102 Summit St Columbus, OH	3.0	2.5	1808	$3,200	$1.77	43d	1	0.59mi
1094 Say Ave Columbus, OH	3.0	2.0	1400	$2,995	$2.14	43d	1	0.62mi
1063 Summit St Columbus, OH	2.0	1.5	1300	$1,875	$1.44	43d	1	0.65mi
100 McMillen Ave Unit C Columbus, OH	3.0	2.0	1200	$1,649	$1.37	14d	1	0.66mi
94 E 3rd Ave Columbus, OH	2.0	2.0	1075	$1,795	$1.67	2d	1	0.68mi
121 W 9th Ave Columbus, OH	2.0–3.0	1.0	1525	$1,350	$0.89	43d	3	0.69mi
153 Punta Aly Columbus, OH	3.0	1.5	1358	$2,100	$1.55	43d	1	0.72mi
1282 Hunter Ave Columbus, OH	1.0–3.0	1.0–2.0	1350	$1,675	$1.24	7d	2	0.73mi
1079 N High St Columbus, OH	1.0–2.0	1.0–2.0	993	$2,525	$2.54	2d	8	0.74mi
40 W 3rd Ave Apt 305 Columbus, OH	1.0	2.5	1335	$2,109	$1.58	43d	1	0.77mi
990 N 9th St Unit 990 Columbus, OH	2.0	1.0	1264	$1,345	$1.06	17d	1	0.78mi
1020 N High St Columbus, OH	1.0	1.0–1.5	894	$1,535	$1.72	1d	7	0.78mi
138 Sommerfeld Pl Columbus, OH	1.0–3.0	1.0–2.5	1212	$1,642	$1.36	2d	21	0.79mi
898 E 13th Ave Columbus, OH	3.0	1.0	1120	$1,230	$1.10	10d	1	0.80mi
898-900 E 13th Ave Unit 898 Columbus, OH	3.0	1.0	1120	$1,230	$1.10	7d	1	0.80mi
210 W 5th Ave Columbus, OH	2.0	1.0–2.0	894	$2,810	$3.14	3d	13	0.80mi
1174 Walters St Columbus, OH	3.0	1.0	1200	$1,549	$1.29	43d	1	0.81mi
163 W 5th Ave Columbus, OH	3.0	3.0	1400	$1,895	$1.35	23d	1	0.81mi
962 Mount Pleasant Ave Columbus, OH	2.0	1.5	1626	$2,650	$1.63	43d	1	0.82mi
985 N High St Columbus, OH	2.0	1.0–2.0	1113	$3,895	$3.50	1d	8	0.84mi
76 W Starr Ave Columbus, OH	3.0	1.0	1500	$3,400	$2.27	43d	1	0.86mi
1235 Highland St Unit 1265655P Columbus, OH	2.0	2.0	1582	$3,554	$2.25	12d	1	0.86mi
111 W 3rd Ave Columbus, OH	1.0–2.0	1.0–2.0	1016	$2,197	$2.16	2d	10	0.86mi
283 E 1st Ave Columbus, OH	1.0–2.0	1.0–2.5	1076	$2,867	$2.66	2d	17	0.87mi

Listing history 23 events

1. 2026-06-18
   days on market $259,000 Active 98 DOM
2. 2026-06-17
   days on market $259,000 Active 97 DOM
3. 2026-06-16
   days on market $259,000 Active 96 DOM
4. 2026-06-15
   days on market $259,000 Active 95 DOM
5. 2026-06-13
   days on market $259,000 Active 93 DOM
6. 2026-06-13
   days on market $259,000 Active 92 DOM
7. 2026-06-09
   days on market $259,000 Active 89 DOM
8. 2026-06-08
   days on market $259,000 Active 88 DOM
9. 2026-06-07
   days on market $259,000 Active 87 DOM
10. 2026-06-05
    days on market $259,000 Active 84 DOM
11. 2026-06-03
    days on market $259,000 Active 83 DOM
12. 2026-06-02
    days on market $259,000 Active 82 DOM
13. 2026-06-01
    days on market $259,000 Active 81 DOM
14. 2026-05-31
    days on market $259,000 Active 80 DOM
15. 2026-03-12
    listed $259,000 Active 529-char remark

    Show marketing remark (529 chars)

    • Two Unit Apartment Building • Rents Way Below Market, For One Bedroom Units • ±1,540 Square Feet Total Across Entire The Building • Do Not Distrub Tenants • Close Proximity, and Within Walkable Distance, Not Only to The Ohio State University and The Historic Crew Stadium, but also The Ohio State Fairgrounds • ± 0.8 Miles From Interstate-71 Northbound and Southbound, Connecting to Downtown Columbus, I-270, and the Surrounding Area * Curb Offers Only, See A2A remarks.

16. 2001-07-25
    soldstatus $42,500 20-char remark

    Show marketing remark (20 chars)

    BANK REPO SOLD AS IS

17. 2001-06-29
    historical 20-char remark

    Show marketing remark (20 chars)

    BANK REPO SOLD AS IS

18. 2001-06-21
    listed $42,500 20-char remark

    Show marketing remark (20 chars)

    BANK REPO SOLD AS IS

19. 1998-03-02
    soldstatus $41,500
20. 1998-02-27
    soldstatus $46,500
21. 1997-09-10
    historical
22. 1997-04-26
    listed $42,900
23. 1979-04-01
    soldstatus $31,400

ⓘ 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: $1,439 · $120/mo
• Projected year-2 tax: $2,740 · $228/mo
• Expected delta: +$1,301/yr (+$108/mo · 90.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $30,024
• − Mortgage interest: −$14,508
• − Property taxes: −$1,439
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$7,535
• Taxable income: $444
• Est. tax owed @ 24.0%: −$106
• After-tax cash flow: $4,580/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): 34,322
• Household income: $43,731
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 4913.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

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: ▼ -207.90%
• Current HPI: 321.7282
• Rent YoY: ▲ 2.14%
• 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

+724.8% since first listed

9 events — show timeline

• 2026-03-12 Listed $259,000 CBRMLS
• 2001-07-25 Sold (MLS) $42,500 CBRMLS
• 2001-06-29 Listing Removed — CBRMLS
• 2001-06-21 Listed $42,500 CBRMLS
• 1998-03-02 Sold (Public Records) $41,500 Public Records
• 1998-02-27 Sold (MLS) $46,500 CBRMLS
• 1997-09-10 Listing Removed — CBRMLS
• 1997-04-26 Listed $42,900 CBRMLS
• 1979-04-01 Sold (Public Records) $31,400 Public Records

Property tax history

+7.2%/yr

Latest (2024): $1,439 · +1.3% YoY. Source: county tax records.