514 Olpp Ave · Columbus, OH 43207

$249,999

4 bd · 0.0 ba · 2,080 sqft · MultiFamily · 1 Days on market

Built 1900 Fair condition 4,356 sqft lot Est $229k · 9% over

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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 +23.7/30.0
• DSCR +7.6/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• ARV discount +3.3/15.0
• Rent growth +3.1/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This duplex located just south of Southern Orchards features 2bd/1ba on each side. It is fully occupied with rernts $750 and $795 respectively. Rents are under market. The property has been recently updated with newer kitchens, bathrooms, flooring/carpeting. Both tenants are month-to-month. Seller is selling multiple properties. See A2A Remarks.

Key facts

• 4,356 sq ft lot
• Built 1900

Property features AI

Finance

• Financial info: Annual tax listed (2024): $3,170

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Built in 1900
• Construction: Built in 1900
• Exterior features: Lot approximately 0.1 acre; Located near Woodrow Ave (cross street)

Interior

• Bedrooms: Duplex (two units)
• Heating & cooling: Forced air
• Interior features: Forced air heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive. Per door: $239/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.6% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); South High School (math 10% / reading 26%, grade F, #687 of 781 statewide, top 88%, 903 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.3%/yr); 198 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,792/mo this rent would consume 53% of the median local household income ($63k/yr) (locally 1679% 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 $8k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 20y ago; this cycle's ask is 14% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $190k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,999

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — 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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $228,800
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
357 E Welch Ave	0.32mi	4/—	1,976 (-5%)	10mo	$300,000	$152	69
207 Southwood Ave #205	0.58mi	4/—	2,066 (-1%)	11mo	$225,000	$109	63
166-168 E Innis Ave	0.50mi	4/—	2,000 (-4%)	12mo	$220,000	$110	61
72-74 E Innis Ave	0.63mi	4/—	2,052 (-1%)	13mo	$130,000	$63	58
931-933 Lawrence Dr	0.60mi	4/—	1,968 (-5%)	15mo	$361,300	$184	50
212-214 E Moler St	0.74mi	4/—	2,016 (-3%)	20mo	$400,000	$198	44
1715-1717 S 4th St	0.63mi	4/—	1,860 (-11%)	14mo	$135,000	$73	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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-11,922
• Equity at exit: $37,276

10-year hold

• IRR: 4.3%
• Equity multiple: 1.30×
• Total profit: $21,310
• Equity at exit: $21,615

Cash invested: $70,000 (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 43207

• Rents YoY: 2.3%
• Active inventory: 198
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,792 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $478

Break-even live

Break-even rent $2,187

Max offer price $249,999

Occupancy floor 78%

Sensitivity live

Price	-10% $651	-5% $564	+0% $478	+5% $392	+10% $305
Rent	-10% $257	-5% $368	+0% $478	+5% $588	+10% $699
Rate	-1.0pp $604	-0.5pp $542	base $478	+0.5pp $413	+1.0pp $347

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,792
Total (2 units)			$2,792

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
357 Frebis Ave #6 Columbus, OH	3.0	3.5	2160	$2,950	$1.37	45d	1	0.62mi
357 Frebis Ave #5 Columbus, OH	3.0	3.5	1748	$2,750	$1.57	45d	1	0.62mi
530 Hanford St Unit 1496117P Columbus, OH	4.0	3.0	1862	$7,310	$3.93	3d	1	0.65mi
506 Thurman Ave Columbus, OH	3.0	1.0	1500	$1,600	$1.07	3d	1	0.87mi
2089 Lockbourne Rd Columbus, OH	5.0	2.0	2534	$2,800	$1.10	12d	1	0.90mi
106 E Gates St Columbus, OH	3.0	1.5	1472	$2,700	$1.83	16d	1	0.94mi
1110 S 4th St Columbus, OH	3.0	2.0	1465	$900	$0.61	9d	1	1.05mi
1187 S High St Columbus, OH	4.0	1.5	2790	$2,500	$0.90	25d	1	1.07mi
315 Siebert St Columbus, OH	3.0	1.0	1597	$2,200	$1.38	25d	1	1.15mi
966 S 18th St Columbus, OH	3.0	1.5	1428	$2,400	$1.68	45d	1	1.23mi
705 E Columbus St Columbus, OH	3.0	1.0	1436	$2,300	$1.60	45d	1	1.35mi
977 S Ohio Ave Columbus, OH	3.0	2.5	1650	$2,500	$1.52	45d	1	1.35mi
936 Wagner St Columbus, OH	3.0	3.0	1560	$2,750	$1.76	25d	1	1.36mi
895 S Wall St Columbus, OH	3.0	3.5	2139	$4,500	$2.10	4d	1	1.44mi
901 S Front St Columbus, OH	3.0	2.5	1743	$2,800	$1.61	45d	1	1.46mi
746 Beech St Columbus, OH	3.0	2.0	1610	$2,750	$1.71	45d	1	1.48mi

Listing history 2 events

1. 2026-06-02
   remarks 690-char remark
2. 2026-06-02
   listed $249,999 Coming Soon 1 DOM

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,504
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,680
• − Management: −$2,680
• − Depreciation: −$7,273
• Taxable income: $1,867
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $5,288/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 · 4 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value. Exterior siding, flooring, and interior walls are in poor condition and need attention.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major flooring — Worn carpet
• Major interior walls — Painted walls with visible wear

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet — Improves comfort and reduces maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet — Improves comfort and reduces maintenance costs ↑

ⓘ 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): 47,272
• Household income: $63,310
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1679.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -244.33%
• Current HPI: 268.3028
• Rent YoY: ▲ 2.32%
• 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

+385.4% since first listed

42 events — show timeline

• 2026-06-02 Coming Soon $249,999 CBRMLS
• 2023-05-08 Sold (MLS) $190,000 CBRMLS
• 2023-04-03 Contingent — CBRMLS
• 2023-03-16 Price Changed $184,900 CBRMLS
• 2023-03-09 Relisted — CBRMLS
• 2023-02-17 Contingent — CBRMLS
• 2023-01-17 Price Changed $189,900 CBRMLS
• 2022-11-26 Price Changed $195,000 CBRMLS
• 2022-10-13 Price Changed $210,000 CBRMLS
• 2022-10-02 Relisted — CBRMLS
• 2022-09-24 Contingent — CBRMLS
• 2022-09-12 Price Changed $215,000 CBRMLS
• 2022-09-07 Relisted — CBRMLS
• 2022-08-29 Contingent — CBRMLS
• 2022-08-11 Listed $220,000 CBRMLS
• 2019-11-07 Listing Removed — CBRMLS
• 2019-11-07 Sold (MLS) $110,000 CBRMLS
• 2019-10-24 Contingent — CBRMLS
• 2019-10-23 Relisted — CBRMLS
• 2019-10-20 Contingent — CBRMLS
• 2019-10-17 Listed $115,000 CBRMLS
• 2019-10-16 Listing Removed — CBRMLS
• 2019-10-04 Price Changed $118,500 CBRMLS
• 2019-09-27 Price Changed $118,900 CBRMLS
• 2019-09-20 Price Changed $119,000 CBRMLS
• 2019-09-11 Price Changed $120,000 CBRMLS
• 2019-08-22 Relisted — CBRMLS
• 2019-08-16 Listing Removed — CBRMLS
• 2019-07-26 Listed $125,000 CBRMLS
• 2017-07-18 Sold (MLS) $50,000 CBRMLS
• 2017-07-13 Pending — CBRMLS
• 2017-05-16 Price Changed $47,000 CBRMLS
• 2017-05-16 Relisted — CBRMLS
• 2017-01-04 Contingent — CBRMLS
• 2017-01-02 Relisted — CBRMLS
• 2016-12-18 Listing Removed — CBRMLS
• 2016-07-18 Listed $44,000 CBRMLS
• 2007-02-16 Sold (MLS) $15,000 CBRMLS
• 2007-01-17 Listing Removed — CBRMLS
• 2006-10-04 Listed $19,900 CBRMLS
• 2006-07-26 Listing Removed — CBRMLS
• 2006-02-01 Listed $51,500 CBRMLS