1521-1523 Republic Ave · Columbus, OH 43211

$219,900

6 bd · 2.0 ba · 2,740 sqft · MultiFamily public records · 7 Days on market

Built 1929 5,400 sqft lot Est $269k · 18% under

---

Why this score? — see what drove the B 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 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

JUST ANOTHER BARGAIN PRICED PROPERTY! THIS PROPERTY SOLD FOR $60,000 IN1998 PER TAX RECORDS. APPRAISED VALUATION BY AUDITOR IS $56,200. YOU'LLHAVE TO TRY HARD NOT TO MAKE EASY MONEY. 3 BED PER UNIT. BANK OWNED!BEING SOLD ''AS-IS''. WE'RE GIVING THIS STUFF AWAY!

Key facts

• Furnished unit
• Deep clean
• Occupant ready

Tags

• FURNISHED UNIT
• SHORT-TERM RENTAL
• OFF-STREET PARKING
• OCCUPANT READY
• DEEP CLEAN
• TAX CREDIT

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas available; Cable available
• Home design: Multi-family residential property; Two levels
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Full basement with concrete floor

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive. Per door: $379/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Cap rate 10.4% 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 (+3.4%/yr); 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,852/mo this rent would consume 80% of the median local household income ($43k/yr) (locally 1282% 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 $7k 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 + 3.4% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y 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 $180k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.30% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.78%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $268,520
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1539-1541 Republic Ave	0.03mi	6/—	2,618 (-4%)	20mo	$192,400	$73	75
1261-1263 E 23rd Ave	0.74mi	6/—	2,352 (-14%)	4mo	$230,000	$98	39

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $13,874
• Equity at exit: $32,788

10-year hold

• IRR: 15.5%
• Equity multiple: 2.29×
• Total profit: $79,273
• Equity at exit: $19,013

Cash invested: $61,572 (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 43211

• Home prices YoY: -27.3%
• Rents YoY: 3.4%
• Active inventory: 166
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,852 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$250 /mo · $2,999/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $758

Break-even live

Break-even rent $1,892

Max offer price $219,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,852
Total (2 units)			$2,852

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2453 McGuffey Rd Columbus, OH	5.0	3.0	1782	$2,200	$1.23	43d	1	0.62mi

Listing history 7 events

1. 2026-06-18
   days on market $219,900 Active 7 DOM
2. 2026-06-17
   days on market $219,900 Active 6 DOM
3. 2026-06-16
   days on market $219,900 Active 5 DOM
4. 2026-06-15
   days on market $219,900 Active 4 DOM
5. 2026-06-13
   days on market $219,900 Active 2 DOM
6. 2026-06-13
   remarks 545-char remark
7. 2026-06-13
   listed $219,900 Active 1 DOM

ⓘ 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: $2,999 · $250/mo
• Projected year-2 tax: $3,215 · $268/mo
• Expected delta: +$216/yr (+$18/mo · 7.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $34,224
• − Mortgage interest: −$12,318
• − Property taxes: −$2,999
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,738
• − Management: −$2,738
• − Depreciation: −$6,397
• Taxable income: $5,934
• Est. tax owed @ 24.0%: −$1,424
• After-tax cash flow: $7,676/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): 22,313
• Household income: $42,579
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1282.0

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 0.60)
• Race & ethnicity: Black 58% White 21% Hispanic / Latino 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Italian 1%
• Foreign-born: 10% · Canada, India
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 2% Arabic 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: ▼ -94.10%
• Current HPI: 250.3885
• Rent YoY: ▲ 3.41%
• 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

+191.6% since first listed

13 events — show timeline

• 2026-06-11 Listed $219,900 WCARE
• 2021-07-27 Sold (Public Records) $180,000 Public Records
• 2021-03-12 Sold (Public Records) $190,000 Public Records
• 2015-05-28 Sold (Public Records) $142,000 Public Records
• 2015-05-28 Sold (Public Records) $56,000 Public Records
• 2014-12-18 Listing Removed — CBRMLS
• 2014-09-15 Listed $45,000 CBRMLS
• 2006-06-01 Sold (Public Records) $82,000 Public Records
• 2001-09-12 Sold (MLS) $29,500 CBRMLS
• 2001-08-17 Listing Removed — CBRMLS
• 2001-07-26 Listed $34,900 CBRMLS
• 1998-02-17 Sold (Public Records) $30,000 Public Records
• 1990-06-07 Sold (Public Records) $75,400 Public Records

Property tax history

+8.6%/yr

Latest (2024): $2,999 · -4.5% YoY. Source: county tax records.