2445-2447 Hiawatha St · Columbus, OH 43211

$145,000

4 bd · None ba · 984 sqft · Condo · 78 Days on market

Built 1952 Good condition ↓ 12% since listing

---

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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single-story duplex features two 1-bedroom, 1-bath units with bright, functional layouts and modern finishes. Located just steps from the Linden Community Center and park, the property offers a clean and quiet living environment in a walkable neighborhood. Unit 2445 was previously rented at $1,000/month and needs a little TLC to be rent-ready. Unit 2447 has a tenant lined up for $700. With strong rental demand in the area, this property presents a solid value-add opportunity for investors seeking cash flow and long-term appreciation potential.

Key facts

• Single-story duplex
• Modern finishes
• 4,356 sq ft lot

Tags

• SINGLE-STORY DUPLEX
• BRIGHT FUNCTIONAL LAYOUTS
• MODERN FINISHES
• CLEAN LIVING ENVIRONMENT
• WALKABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath condo listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+3.4%/yr); 166 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 44% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 78 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.08% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-8,154
• Equity at exit: $21,620

10-year hold

• IRR: 4.8%
• Equity multiple: 1.36×
• Total profit: $14,563
• Equity at exit: $12,537

Cash invested: $40,600 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,560 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $230

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 80%

Sensitivity live

Price	-10% $331	-5% $280	+0% $230	+5% $180	+10% $130
Rent	-10% $107	-5% $169	+0% $230	+5% $292	+10% $354
Rate	-1.0pp $303	-0.5pp $267	base $230	+0.5pp $193	+1.0pp $155

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 Atwood Ter Columbus, OH	3.0	1.0	979	$1,500	$1.53	24d	1	0.21mi
967 Duxberry Ave Columbus, OH	3.0	1.0	864	$1,100	$1.27	44d	1	0.44mi
2767 Hiawatha St Columbus, OH	3.0	1.0	896	$1,475	$1.65	8d	1	0.47mi
1269 Minnesota Ave Columbus, OH	3.0	1.0	1075	$1,550	$1.44	8d	1	0.62mi
2176 Ontario St Columbus, OH	4.0	2.0	1066	$1,650	$1.55	24d	1	0.63mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,425	$1.57	20d	1	0.80mi
1435 Republic Ave Columbus, OH	3.0	1.0	908	$1,395	$1.54	8d	1	0.80mi
335 E Duncan St Columbus, OH	3.0	1.0	1120	$1,595	$1.42	44d	1	0.83mi
2658 Deming Ave Columbus, OH	3.0	1.0	1120	$1,695	$1.51	44d	1	0.86mi
2872 Indianola Ave Columbus, OH	3.0	1.0	1000	$1,799	$1.80	44d	1	0.91mi
245 Clinton St Columbus, OH	3.0	1.0	1100	$1,650	$1.50	44d	1	0.93mi
3054 McGuffey Rd Columbus, OH	3.0	1.0	1106	$1,450	$1.31	44d	1	0.98mi
780 E Brighton Rd Columbus, OH	3.0	1.0	1086	$1,500	$1.38	8d	1	1.03mi
1318-1320 E 20th Ave Unit 1318 Columbus, OH	3.0	1.0	1120	$1,275	$1.14	8d	1	1.11mi
1011 Mohican Ave Columbus, OH	3.0	1.0	1091	$1,399	$1.28	44d	1	1.12mi
1042 E 14th Ave Columbus, OH	3.0	1.0	1084	$1,350	$1.25	24d	1	1.23mi
898 E 13th Ave Columbus, OH	3.0	1.0	1120	$1,230	$1.10	11d	1	1.24mi
898-900 E 13th Ave Unit 898 Columbus, OH	3.0	1.0	1120	$1,230	$1.10	8d	1	1.24mi
32-38 W Patterson Ave Unit 34 Columbus, OH	3.0	1.0	900	$1,950	$2.17	44d	1	1.32mi
1557 Brooks Ave Columbus, OH	3.0	1.0	1056	$1,250	$1.18	3d	1	1.34mi
3267 Walmar Dr Columbus, OH	3.0	1.0	1106	$1,550	$1.40	24d	1	1.35mi
3327 McGuffey Rd Columbus, OH	3.0	1.0	1100	$1,335	$1.21	8d	1	1.37mi
1427 Grogan Ave Columbus, OH	3.0	1.0	768	$1,475	$1.92	44d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-05
   days on market $145,000 Active 78 DOM
2. 2026-06-03
   days on market $145,000 Active 77 DOM
3. 2026-06-02
   days on market $145,000 Active 76 DOM
4. 2026-06-01
   days on market $145,000 Active 75 DOM
5. 2026-05-31
   days on market $145,000 Active 74 DOM
6. 2026-03-27
   price $145,000 553-char remark

   Show marketing remark (553 chars)

   Single-story duplex features two 1-bedroom, 1-bath units with bright, functional layouts and modern finishes. Located just steps from the Linden Community Center and park, the property offers a clean and quiet living environment in a walkable neighborhood. Unit 2445 was previously rented at $1,000/month and needs a little TLC to be rent-ready. Unit 2447 has a tenant lined up for $700. With strong rental demand in the area, this property presents a solid value-add opportunity for investors seeking cash flow and long-term appreciation potential.

7. 2026-03-18
   listed $165,000 Active 553-char remark

   Show marketing remark (553 chars)

   Single-story duplex features two 1-bedroom, 1-bath units with bright, functional layouts and modern finishes. Located just steps from the Linden Community Center and park, the property offers a clean and quiet living environment in a walkable neighborhood. Unit 2445 was previously rented at $1,000/month and needs a little TLC to be rent-ready. Unit 2447 has a tenant lined up for $700. With strong rental demand in the area, this property presents a solid value-add opportunity for investors seeking cash flow and long-term appreciation potential.

8. 2025-08-22
   historical $700
9. 2025-08-18
   listed $700

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 17 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: $18,721
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$4,218
• Taxable income: $485
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $2,648/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 · 13 photos

Good 80/100 Cosmetic rehab

This single-story duplex is in good condition with modern finishes and a clean interior. It has a good roof and exterior, and the flooring and walls are in good condition. The property is located in a walkable neighborhood with strong rental demand, making it a solid value-add opportunity for investors.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more renters
• Both Painting exterior and interior walls — Fresh paint can improve the home's appearance and value
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more renters

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more renters ↑
• Both Painting exterior and interior walls — Fresh paint can improve the home's appearance and value ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more renters ↑

ⓘ 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): 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

-12.1% since first listed

4 events — show timeline

• 2026-03-27 Price Changed $145,000 CBRMLS
• 2026-03-18 Listed $165,000 CBRMLS
• 2025-08-22 Rental Removed $700 TURBOTENANT
• 2025-08-18 Listed for Rent $700 TURBOTENANT