2404 S 5th St · Columbus, OH 43207

$169,900

2 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 36 Days on market

Built 1900 4,791 sqft lot $169/sqft · 38% above area Est $196k · 13% under

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Why this score? — see what drove the D 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).

• ARV discount +13.6/15.0
• Cash flow +10.8/30.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained South Side investment property with great long-term tenants paying $985/month on a m2m lease. The property offers approximately 1,604 sqft, including a spacious addition off the kitchen. Major updates include roof (2019), furnace (2022), hot water tank (2019), and updated electrical. Great opportunity for an investor looking for a solid cash-flowing rental with tenants who take excellent care of the property. CURB OFFERS Only!

Key facts

• 4,791 sq ft lot
• Built 1900
• Listed 36 days

Property features AI

Finance

• Other: Standard special listing conditions

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; No shared/common walls; Built in 1900
• Construction: Block foundation; Built in 1900
• Exterior features: Block foundation; Lot on a 0.11-acre parcel

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Cellar basement; Approximately 1,604 total building area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-78 ($-940/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (8.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (20.4% below list).
• Recommended offer: $135k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 (+2.3%/yr); 197 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $170k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $135,261 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 10.5

CMA / ARV

• ARV (median comp): $196,349
• List price: $169,900
• Delta: -13.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
168 Benfield Ave	0.04mi	3/1.0 (+1)	960 (-4%)	8mo	$60,000	$63	79
238 Delray Rd	0.15mi	3/1.0 (+1)	1,112 (+11%)	4mo	$133,500	$120	67
2501 S 6th St	0.10mi	3/1.0 (+1)	864 (-14%)	2mo	$170,559	$197	65
164 E Alcott Rd	0.45mi	3/1.0 (+1)	924 (-8%)	7mo	$161,500	$175	55
228 Ziegler Ave	0.68mi	3/1.0 (+1)	948 (-6%)	1mo	$225,000	$237	53
2676 Shelly Dr	0.63mi	3/1.0 (+1)	925 (-8%)	1mo	$111,980	$121	52
2750 Gibson Dr	0.65mi	3/1.0 (+1)	925 (-8%)	0mo	$145,000	$157	51
2893 Parsons Ave	0.69mi	3/1.0 (+1)	924 (-8%)	0mo	$170,000	$184	49
145 Ziegler Ave	0.70mi	3/1.0 (+1)	1,053 (+5%)	7mo	$205,000	$195	49
2808 Dolby Dr	0.69mi	3/1.0 (+1)	925 (-8%)	4mo	$215,000	$232	47
2901 Parsons Ave	0.69mi	3/1.0 (+1)	924 (-8%)	6mo	$167,000	$181	44
116 Ziegler Ave	0.67mi	2/1.0	880 (-12%)	8mo	$160,000	$182	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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.30×
• Total profit: $-33,437
• Equity at exit: $25,333

10-year hold

• IRR: -14.9%
• Equity multiple: 0.17×
• Total profit: $-39,247
• Equity at exit: $14,690

Cash invested: $47,572 (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 43207

• Rents YoY: 2.3%
• Active inventory: 197
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$891
• Tax from tax record: −$185 /mo · $2,222/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $-78

Break-even live

Break-even rent $1,452

Max offer price $156,059

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-30	+0% $-78	+5% $-126	+10% $-175
Rent	-10% $-185	-5% $-132	+0% $-78	+5% $-25	+10% $29
Rate	-1.0pp $7	-0.5pp $-35	base $-78	+0.5pp $-122	+1.0pp $-167

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54-56 Benfield Ave Unit 56 Columbus, OH	2.0	1.0	800	$925	$1.16	25d	1	0.16mi
55 Fornof Rd Columbus, OH	1.0–4.0	1.0–2.0	924	$1,620	$1.75	3d	1	0.16mi
257 Benfield Ave Unit NA Columbus, OH	3.0	1.0	1094	$1,400	$1.28	8d	1	0.18mi
2866 Hillgate Rd Columbus, OH	3.0	1.0	1040	$1,693	$1.63	25d	1	0.67mi
274 E Barthman Ave Columbus, OH	2.0	1.0	960	$1,500	$1.56	18d	1	0.78mi
76-78 E Barthman Ave Columbus, OH	3.0	1.0	1206	$1,500	$1.24	25d	1	0.80mi
3011 Markham Rd Unit 3011A Columbus, OH	2.0	1.0	750	$899	$1.20	25d	1	0.86mi
1808 S 6th St Unit 1808 Columbus, OH	2.0	1.0	975	$1,050	$1.08	45d	1	0.87mi
1843 Parsons Ave Columbus, OH	2.0	1.0	899	$1,331	$1.48	25d	1	0.92mi
2997 S High St Columbus, OH	1.0–4.0	1.0–2.0	1151	$1,319	$1.15	3d	27	0.93mi
838 Lock Ave Columbus, OH	3.0	1.0	988	$1,578	$1.60	3d	1	0.98mi
206 E Woodrow Ave Columbus, OH	2.0	1.0	999	$1,295	$1.30	45d	1	1.02mi
122 E Woodrow Ave Columbus, OH	2.0	1.0	1200	$1,450	$1.21	16d	1	1.02mi
362 E Hinman Ave Columbus, OH	2.0	1.0	879	$1,149	$1.31	45d	1	1.09mi
2491 Wilson Ave Columbus, OH	3.0	1.0	1200	$1,649	$1.37	45d	1	1.11mi
367 E Morrill Ave Columbus, OH	2.0	1.0	977	$1,450	$1.48	45d	1	1.13mi
1598-1600 S 4th St Columbus, OH	2.0	1.0	855	$1,250	$1.46	45d	1	1.15mi
33 W Morrill Ave Columbus, OH	1.0–3.0	1.0–2.0	935	$1,134	$1.21	8d	4	1.20mi
529 E Morrill Ave Columbus, OH	3.0	1.0	1318	$1,600	$1.21	4d	1	1.22mi
3204 T Ave Columbus, OH	2.0	1.0	1168	$1,325	$1.13	25d	1	1.31mi
476 Southwood Ave Columbus, OH	2.0	1.0	1219	$1,400	$1.15	45d	1	1.40mi
27 W Jenkins Ave Columbus, OH	2.0–3.0	1.0–1.5	1013	$1,137	$1.12	8d	4	1.43mi
820 Hilock Rd Columbus, OH	3.0	1.0	1200	$1,640	$1.37	45d	1	1.43mi
490-492 E Jenkins Ave Unit 490 Columbus, OH	3.0	1.0	1050	$1,325	$1.26	45d	1	1.46mi
546 E Jenkins Ave Unit 1 Columbus, OH	2.0	1.0	975	$1,295	$1.33	25d	1	1.47mi
662 Southwood Ave Columbus, OH	3.0	2.0	1183	$1,950	$1.65	21d	1	1.49mi

Listing history 21 events

1. 2026-06-21
   days on market $169,900 Active 36 DOM
2. 2026-06-18
   days on market $169,900 Active 33 DOM
3. 2026-06-17
   days on market $169,900 Active 32 DOM
4. 2026-06-16
   days on market $169,900 Active 31 DOM
5. 2026-06-15
   days on market $169,900 Active 30 DOM
6. 2026-06-13
   days on market $169,900 Active 28 DOM
7. 2026-06-13
   days on market $169,900 Active 27 DOM
8. 2026-06-09
   days on market $169,900 Active 24 DOM
9. 2026-06-08
   days on market $169,900 Active 23 DOM
10. 2026-06-07
    days on market $169,900 Active 22 DOM
11. 2026-06-05
    days on market $169,900 Active 19 DOM
12. 2026-06-03
    days on market $169,900 Active 18 DOM
13. 2026-06-02
    days on market $169,900 Active 17 DOM
14. 2026-06-01
    days on market $169,900 Active 16 DOM
15. 2026-05-31
    pricedays on market $169,900 Active 15 DOM
16. 2026-05-16
    listed $179,900 Active 446-char remark
17. 2026-05-15
    historical $179,900 446-char remark
18. 2025-02-26
    soldstatus $110,000
19. 2017-11-02
    historical
20. 2017-09-07
    listed $64,900 Active
21. 2017-09-07
    listed $64,900

ⓘ 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: $2,222 · $185/mo
• Projected year-2 tax: $2,436 · $203/mo
• Expected delta: +$214/yr (+$18/mo · 9.6%)

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

Taxation est. · year 1

• Rental income: $16,231
• − Mortgage interest: −$9,517
• − Property taxes: −$2,222
• − Insurance: −$850
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,943
• Taxable loss: −$3,897
• Est. tax savings @ 24.0%: +$935
• After-tax cash flow: $-5/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): 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

+161.8% since first listed

7 events — show timeline

• 2026-05-30 Price Changed $169,900 CBRMLS
• 2026-05-16 Listed $179,900 CBRMLS
• 2026-05-15 Coming Soon $179,900 CBRMLS
• 2025-02-26 Sold (Public Records) $110,000 Public Records
• 2017-11-02 Listing Removed — CBRMLS
• 2017-09-07 Listed $64,900 CBRMLS
• 2017-09-07 Listed $64,900 SVAR

Property tax history

+8.2%/yr

Latest (2024): $2,222 · +1.3% YoY. Source: county tax records.