1586 Greenway Ave #1588 · Columbus, OH 43203

$309,900

6 bd · 2.0 ba · 2,464 sqft · MultiFamily public records · 34 Days on market

Built 1910 4,356 sqft lot $126/sqft · 14% below area Est $358k · 14% 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 +20.1/30.0
• ARV discount +13.6/15.0
• DSCR +6.4/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Great investment opportunity! 2 units with 3 bedrooms and 1 upstairs bathroom per unit. Both are blank slates and ready for your vision. Parking in back. Situated in quick moving and upcoming neighborhood! Call your Realtor today for your viewing.

Key facts

• Parking in back
• 4,356 sq ft lot
• Built 1910

Tags

• INVESTMENT OPPORTUNITY
• PARKING IN BACK
• UPCOMING NEIGHBORHOOD

Property features AI

Finance

• Financial info: Property is real estate owned (REO)

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Built in 1910; Street address includes unit 1588
• Construction: Built in 1910
• Exterior features: Lot is approximately 0.1 acres

Interior

• Heating & cooling: Forced air heating; No central cooling
• Interior features: Forced air heating; No central cooling

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $301k (3.0% below list) — sets the bar for market timing.
• 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: Rents rising fast (+5.0%/yr); 94 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $3,110/mo this rent would consume 78% of the median local household income ($48k/yr) (locally 859% 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 $9k 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 34 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (median comp): $358,344
• List price: $309,900
• Delta: -13.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324-326 Taylor Ave	0.07mi	6/—	2,560 (+4%)	14mo	$260,000	$102	78
363-365 Woodland Ave	0.15mi	6/—	2,288 (-7%)	6mo	$350,000	$153	76
449-451 N Champion Ave	0.47mi	6/—	2,408 (-2%)	1mo	$318,000	$132	73
1529-1531 Richmond Ave	0.17mi	6/—	2,352 (-4%)	14mo	$352,500	$150	73
515-517 N Champion Ave	0.49mi	6/—	2,340 (-5%)	5mo	$217,500	$93	65
524 N Champion Ave #522	0.46mi	6/—	2,236 (-9%)	10mo	$325,000	$145	55
1310-1312 Atcheson St	0.40mi	6/—	2,236 (-9%)	14mo	$280,000	$125	54
205-207 N 22nd St	0.68mi	6/—	2,520 (+2%)	23mo	$190,000	$75	45
1214 Atcheson St #1216	0.54mi	6/—	2,184 (-11%)	17mo	$355,000	$163	42

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-19,270
• Equity at exit: $46,207

10-year hold

• IRR: 6.0%
• Equity multiple: 1.49×
• Total profit: $42,459
• Equity at exit: $26,794

Cash invested: $86,772 (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 43203

• Home prices YoY: -31.9%
• Rents YoY: 5.0%
• Active inventory: 94
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $3,110 high
• Mortgage (P&I): −$1,625
• Tax from tax record: −$319 /mo · $3,823/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $384

Break-even live

Break-even rent $2,624

Max offer price $309,900

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,110
Total (2 units)			$3,110

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1445 E Broad St Columbus, OH	1.0–5.0	1.0–5.0	2164	$3,500	$1.62	1d	4	0.59mi
78 Auburn Ave Columbus, OH	5.0	3.5	2799	$3,950	$1.41	1d	1	0.62mi
438 S Ohio Ave Columbus, OH	5.0	2.0	1900	$2,195	$1.16	43d	1	1.34mi

Listing history 17 events

1. 2026-06-18
   days on market $309,900 Active 34 DOM
2. 2026-06-17
   pricedays on market $309,900 Active 33 DOM
3. 2026-06-16
   days on market $325,000 Active 32 DOM
4. 2026-06-15
   days on market $325,000 Active 31 DOM
5. 2026-06-13
   days on market $325,000 Active 29 DOM
6. 2026-06-13
   days on market $325,000 Active 28 DOM
7. 2026-06-09
   days on market $325,000 Active 25 DOM
8. 2026-06-08
   days on market $325,000 Active 24 DOM
9. 2026-06-07
   days on market $325,000 Active 23 DOM
10. 2026-06-05
    days on market $325,000 Active 20 DOM
11. 2026-06-03
    days on market $325,000 Active 19 DOM
12. 2026-06-02
    days on market $325,000 Active 18 DOM
13. 2026-06-01
    days on market $325,000 Active 17 DOM
14. 2026-05-31
    days on market $325,000 Active 16 DOM
15. 2026-05-15
    listed $325,000 Active 247-char remark
16. 2009-07-19
    historical
17. 2008-07-21
    listed $56,200

ⓘ 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: $3,823 · $319/mo
• Projected year-2 tax: $4,328 · $361/mo
• Expected delta: +$506/yr (+$42/mo · 13.2%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $37,320
• − Mortgage interest: −$17,359
• − Property taxes: −$3,823
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,986
• − Management: −$2,986
• − Depreciation: −$9,015
• Taxable loss: −$398
• Est. tax savings @ 24.0%: +$95
• After-tax cash flow: $4,704/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): 8,618
• Household income: $47,572
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 859.0

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 0.56)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Lithuanian 1% Romanian 1% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 86% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 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: ▼ -102.09%
• Current HPI: 217.3929
• Rent YoY: ▲ 5.03%
• 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

+451.4% since first listed

4 events — show timeline

• 2026-06-17 Price Changed $309,900 CBRMLS
• 2026-05-15 Listed $325,000 CBRMLS
• 2009-07-19 Listing Removed — CBRMLS
• 2008-07-21 Listed $56,200 CBRMLS

Property tax history

+7.6%/yr

Latest (2024): $3,823 · +1.3% YoY. Source: county tax records.