131 Broad Meadows Blvd · Columbus, OH 43214

$565,000

36 bd · None ba · 5,775 sqft · MultiFamily · 230 Days on market

Built 1962 Fair condition 0.27 ac lot $98/sqft · 10% above area Est $516k · 10% over ↓ 16% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• ARV discount +3.2/15.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This 6 unit brick apartment building features a full basement with storage units and off street parking. Fantastic location close to the Olentangy trail bike path, COTA bus line, High St, and a new ALDI grocery store. Tenant Occupied, Do Not Disturb Tenants. No Seller Financing.

Key facts

• Off street parking
• High st
• Full basement

Tags

• FULL BASEMENT
• OFF STREET PARKING
• OLENTANGY TRAIL BIKE PATH
• COTA BUS LINE
• HIGH ST
• NEW ALDI GROCERY STORE

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $565k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $386/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $565k).
• Recommended offer: $497k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+3.2%/yr); 46 active listings in the ZIP; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $7,871/mo this rent would consume 100% of the median local household income ($94k/yr) (locally 1135% 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 $4k of loan paydown is wiped out by about $17k 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 + 3.2% rent growth), your $158k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($497k) is reasonable based on typical stale-listing flexibility.

Recommended offer $497,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.39% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.55%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (median comp): $515,906
• List price: $565,000
• Delta: 9.52%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.37×
• Total profit: $57,818
• Equity at exit: $84,243

10-year hold

• IRR: 18.6%
• Equity multiple: 2.57×
• Total profit: $248,420
• Equity at exit: $48,851

Cash invested: $158,200 (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 43214

• Rents YoY: 3.2%
• Active inventory: 46
• Price-to-rent: 35.9×

Monthly cashflow live

• Estimated rent: $7,871 high
• Mortgage (P&I): −$2,963
• Tax est. 1.5%: −$706 /mo · $8,475/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,653
• Net cashflow: $2,314

Break-even live

Break-even rent $4,943

Max offer price $565,000

Occupancy floor 66%

Sensitivity live

Price	-10% $2,704	-5% $2,509	+0% $2,314	+5% $2,118	+10% $1,923
Rent	-10% $1,692	-5% $2,003	+0% $2,314	+5% $2,624	+10% $2,935
Rate	-1.0pp $2,598	-0.5pp $2,457	base $2,314	+0.5pp $2,167	+1.0pp $2,018

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$7,872
Total (6 units)			$7,871

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-03
   days on market $565,000 Active 230 DOM
2. 2026-06-02
   days on market $565,000 Active 229 DOM
3. 2026-06-01
   days on market $565,000 Active 228 DOM
4. 2026-05-31
   days on market $565,000 Active 227 DOM
5. 2026-04-13
   price $565,000 279-char remark

   Show marketing remark (279 chars)

   This 6 unit brick apartment building features a full basement with storage units and off street parking. Fantastic location close to the Olentangy trail bike path, COTA bus line, High St, and a new ALDI grocery store. Tenant Occupied, Do Not Disturb Tenants. No Seller Financing.

6. 2025-12-08
   price $625,000 279-char remark

   Show marketing remark (279 chars)

   This 6 unit brick apartment building features a full basement with storage units and off street parking. Fantastic location close to the Olentangy trail bike path, COTA bus line, High St, and a new ALDI grocery store. Tenant Occupied, Do Not Disturb Tenants. No Seller Financing.

7. 2025-10-16
   listed $675,000 Active 279-char remark

   Show marketing remark (279 chars)

   This 6 unit brick apartment building features a full basement with storage units and off street parking. Fantastic location close to the Olentangy trail bike path, COTA bus line, High St, and a new ALDI grocery store. Tenant Occupied, Do Not Disturb Tenants. No Seller Financing.

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $94,452
• − Mortgage interest: −$31,649
• − Property taxes: −$8,475
• − Insurance: −$2,825
• − Repairs & maintenance: −$7,556
• − Management: −$7,556
• − Depreciation: −$16,436
• Taxable income: $19,955
• Est. tax owed @ 24.0%: −$4,789
• After-tax cash flow: $22,973/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 · 6 photos

Fair 45/100 Moderate rehab

This 6-unit brick apartment building requires moderate renovations, including exterior and interior painting, updating dated kitchen cabinets, and landscaping improvements. These updates would significantly enhance its resale and rental value.

Repairs flagged

• Major exterior paint — Weathered brick
• Major interior paint — Faded paint
• Major kitchen cabinets — Dated appearance
• Major landscaping — Overgrown and unkempt

Value-add opportunities

• Both paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both replace dated kitchen cabinets — Modern cabinets improve functionality and appeal
• Both landscaping — Well-maintained landscaping boosts curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Weathered brick	Major	$15,000–50,000
interior paint · Faded paint	Major	$15,000–50,000
kitchen cabinets · Dated appearance	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace dated kitchen cabinets — Modern cabinets improve functionality and appeal ↑
• Both landscaping — Well-maintained landscaping boosts curb appeal and property 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): 26,776
• Household income: $94,183
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1135.0

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 (86%)
• Race & ethnicity: White 86% Black 5% Two or more races 4% Asian 3% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Italian 4% Slovak 3%
• Foreign-born: 6% · China, Canada
• Languages at home: 93% English-only · Spanish 2% Chinese 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: ▼ -444.23%
• Current HPI: 288.7349
• Rent YoY: ▲ 3.24%
• 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

-16.3% since first listed

3 events — show timeline

• 2026-04-13 Price Changed $565,000 CBRMLS
• 2025-12-08 Price Changed $625,000 CBRMLS
• 2025-10-16 Listed $675,000 CBRMLS