255-257 S Eureka Ave · Columbus, OH 43204

$179,000

6 bd · 2.0 ba · 2,464 sqft · MultiFamily public records · 43 Days on market

Built 1924 5,227 sqft lot Est $202k · 11% under

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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 +30.0/30.0
• ARV discount +12.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• 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

CORNER LOT DUPLEX HAS 2 YR OLD 2.5 BLOCK GARAGE WITH 100 AMP UNDERGROUNDSERVICE, HOME HAS 1 YR OLD TEAROFF ROOF, GREAT INVESTMENT PROPERTY COULDLIVE IN ONE SIDE AND RENT THE OTHER OR RENT BOTH SIDES, ALL HARDWOOD FLOORSFULL BASEMENT, PARTIAL STORM WINDOWS, STORM DOORS FRONT AND BACK.

Key facts

• Two spacious units
• Side-by-side duplex
• Vinyl siding

Tags

• SIDE-BY-SIDE DUPLEX
• TWO SPACIOUS UNITS
• VINYL SIDING
• NEW ELECTRIC PANELS
• NEW FURNACES
• REBUILT FRONT PORCH

Property features AI

Finance

• Financial info: Annual tax reported for 2024

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Built in 1924
• Construction: Built in 1924
• Exterior features: Lot approximately 0.12 acres

Interior

• Bedrooms: Duplex with 2 total units
• Heating & cooling: Forced air heating
• Interior features: Forced air heating

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $866 ($10k/yr) — positive. Per door: $433/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 fast (+4.5%/yr); 188 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $2,644/mo this rent would consume 54% of the median local household income ($59k/yr) (locally 2290% 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $85k; list at $179k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.74%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $202,048
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130-132 S Richardson Ave	0.20mi	6/—	2,436 (-1%)	8mo	$200,000	$82	82
62-64 S Eureka Ave	0.27mi	6/—	2,250 (-9%)	13mo	$194,300	$86	62
2511 Sullivant Ave	0.37mi	6/—	2,352 (-4%)	17mo	$224,000	$95	61
1992 Fairmont Ave	0.73mi	6/—	2,480 (+1%)	11mo	$203,000	$82	56
45 N Hague Ave #47	0.64mi	6/—	2,408 (-2%)	13mo	$180,000	$75	56
2017-2019 Sullivant Ave	0.69mi	6/—	2,352 (-4%)	6mo	$169,000	$72	55
557-559 S Terrace Ave	0.44mi	6/—	2,184 (-11%)	12mo	$222,000	$102	51
622 S Ogden Ave	0.57mi	6/—	2,100 (-15%)	4mo	$127,500	$61	46
116 Belvidere Ave	0.61mi	6/—	2,184 (-11%)	11mo	$142,400	$65	44
44-46 S Hague Ave	0.51mi	6/—	2,752 (+12%)	18mo	$160,000	$58	42
612-614 Racine Ave	0.61mi	6/—	2,124 (-14%)	9mo	$190,000	$89	41
2197 Amherst Ave	0.64mi	6/—	2,188 (-11%)	13mo	$242,500	$111	41

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: 14.8%
• Equity multiple: 1.60×
• Total profit: $30,221
• Equity at exit: $26,689

10-year hold

• IRR: 24.6%
• Equity multiple: 3.28×
• Total profit: $114,503
• Equity at exit: $15,477

Cash invested: $50,120 (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 43204

• Rents YoY: 4.5%
• Active inventory: 188
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,644 high
• Mortgage (P&I): −$939
• Tax from tax record: −$209 /mo · $2,510/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $866

Break-even live

Break-even rent $1,547

Max offer price $179,000

Occupancy floor 62%

Sensitivity live

Price	-10% $968	-5% $917	+0% $866	+5% $816	+10% $765
Rent	-10% $657	-5% $762	+0% $866	+5% $971	+10% $1,075
Rate	-1.0pp $956	-0.5pp $912	base $866	+0.5pp $820	+1.0pp $773

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,644
Total (2 units)			$2,644

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 S Richardson Ave Columbus, OH	6.0	2.0	2112	$1,995	$0.94	3d	1	0.28mi
2545 Vanderberg Ave Columbus, OH	6.0	3.0	2600	$5,800	$2.23	15d	1	0.94mi
63 Stevens Ave Columbus, OH	5.0	2.0	2437	$2,000	$0.82	8d	1	1.38mi
228 Schultz Ave Unit 1407033P Columbus, OH	5.0	1.5	1991	$5,806	$2.92	8d	1	1.43mi

Listing history 22 events

1. 2026-06-21
   days on market $179,000 Active 43 DOM
2. 2026-06-18
   days on market $179,000 Active 40 DOM
3. 2026-06-17
   pricestatus $179,000 Active 39 DOM
4. 2026-06-17
   days on market $186,500 Contingent 39 DOM
5. 2026-06-16
   days on market $186,500 Contingent 38 DOM
6. 2026-06-15
   days on market $186,500 Contingent 37 DOM
7. 2026-06-13
   days on market $186,500 Contingent 35 DOM
8. 2026-06-13
   days on market $186,500 Contingent 34 DOM
9. 2026-06-09
   days on market $186,500 Contingent 31 DOM
10. 2026-06-08
    days on market $186,500 Contingent 30 DOM
11. 2026-06-07
    days on market $186,500 Contingent 29 DOM
12. 2026-06-05
    days on market $186,500 Contingent 26 DOM
13. 2026-06-03
    days on market $186,500 Contingent 25 DOM
14. 2026-06-02
    days on market $186,500 Contingent 24 DOM
15. 2026-06-01
    days on market $186,500 Contingent 23 DOM
16. 2026-05-31
    days on market $186,500 Contingent 22 DOM
17. 2026-05-15
    historical Contingent
18. 2026-05-09
    listed $186,500 Active
19. 2000-10-03
    soldstatus $85,000
20. 2000-09-29
    soldstatus $85,000 284-char remark

    Show marketing remark (284 chars)

    CORNER LOT DUPLEX HAS 2 YR OLD 2.5 BLOCK GARAGE WITH 100 AMP UNDERGROUNDSERVICE, HOME HAS 1 YR OLD TEAROFF ROOF, GREAT INVESTMENT PROPERTY COULDLIVE IN ONE SIDE AND RENT THE OTHER OR RENT BOTH SIDES, ALL HARDWOOD FLOORSFULL BASEMENT, PARTIAL STORM WINDOWS, STORM DOORS FRONT AND BACK.

21. 2000-09-07
    historical 284-char remark

    Show marketing remark (284 chars)

    CORNER LOT DUPLEX HAS 2 YR OLD 2.5 BLOCK GARAGE WITH 100 AMP UNDERGROUNDSERVICE, HOME HAS 1 YR OLD TEAROFF ROOF, GREAT INVESTMENT PROPERTY COULDLIVE IN ONE SIDE AND RENT THE OTHER OR RENT BOTH SIDES, ALL HARDWOOD FLOORSFULL BASEMENT, PARTIAL STORM WINDOWS, STORM DOORS FRONT AND BACK.

22. 2000-08-17
    listed $85,000 284-char remark

    Show marketing remark (284 chars)

    CORNER LOT DUPLEX HAS 2 YR OLD 2.5 BLOCK GARAGE WITH 100 AMP UNDERGROUNDSERVICE, HOME HAS 1 YR OLD TEAROFF ROOF, GREAT INVESTMENT PROPERTY COULDLIVE IN ONE SIDE AND RENT THE OTHER OR RENT BOTH SIDES, ALL HARDWOOD FLOORSFULL BASEMENT, PARTIAL STORM WINDOWS, STORM DOORS FRONT AND BACK.

ⓘ 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: $2,510 · $209/mo
• Projected year-2 tax: $2,651 · $221/mo
• Expected delta: +$141/yr (+$12/mo · 5.6%)

ⓘ 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 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 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,728
• − Mortgage interest: −$10,027
• − Property taxes: −$2,510
• − Insurance: −$895
• − Repairs & maintenance: −$2,538
• − Management: −$2,538
• − Depreciation: −$5,207
• Taxable income: $8,012
• Est. tax owed @ 24.0%: −$1,923
• After-tax cash flow: $8,472/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): 42,962
• Household income: $59,266
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2290.0

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 0.58)
• 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%

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

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

+119.4% since first listed

6 events — show timeline

• 2026-05-15 Contingent — CBRMLS
• 2026-05-09 Listed $186,500 CBRMLS
• 2000-10-03 Sold (Public Records) $85,000 Public Records
• 2000-09-29 Sold (MLS) $85,000 CBRMLS
• 2000-09-07 Listing Removed — CBRMLS
• 2000-08-17 Listed $85,000 CBRMLS

Property tax history

+6.1%/yr

Latest (2024): $2,510 · +1.3% YoY. Source: county tax records.