661-663 S Burgess Ave · Columbus, OH 43204

$239,900

6 bd · 2.0 ba · 2,184 sqft · MultiFamily public records · 14 Days on market

Built 1926 4,791 sqft lot Est $207k · 16% over

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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).

• Cash flow +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.5/15.0
• 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

Well-maintained duplex investment opportunity in Columbus! One unit is currently occupied at $900/month, under market rent. while the other unit provides flexibility for an owner-occupant or additional tenant. Features include a roof less than 5 years old, central air on one side, and updated hot water tank in Unit 661 (2024). Unit 661 also offers 1.5 baths. Detached 2 car garage adds opportunity for additional/higher rental income

Key facts

• Central air
• 4,791 sq ft lot
• Built 1926

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• ROOF LESS THAN 5 YEARS OLD
• CENTRAL AIR
• UPDATED HOT WATER TANK
• DETACHED 2 CAR GARAGE

Property features AI

Finance

• Other: Cross street: Burroughs; Listing status: Standard special listing conditions
• Financial info: 2024 annual tax: $2,244

Exterior

• Home design: Duplex; Built in 1926
• Exterior features: Lot approximately 0.11 acres

Interior

• Bedrooms: Duplex property with 2 total units
• Heating & cooling: Central Air; Forced Air
• Interior features: Central air conditioning; Forced-air heating

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive. Per door: $230/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• 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.
• Market conditions: Rents rising fast (+4.5%/yr); 187 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,538/mo this rent would consume 51% 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 $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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $200k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,900

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 1926 — 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 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: 1.06% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $207,480
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 S Ogden Ave	0.08mi	6/—	2,100 (-4%)	4mo	$127,500	$61	87
661-663 S Burgess Ave	0.00mi	6/—	2,184 (0%)	20mo	$200,000	$92	83
557-559 S Terrace Ave	0.19mi	6/—	2,184 (0%)	12mo	$222,000	$102	82
612-614 Racine Ave	0.19mi	6/—	2,124 (-3%)	9mo	$190,000	$89	79
634 Racine Ave	0.17mi	6/—	2,128 (-3%)	19mo	$250,000	$117	72
638 Racine Ave	0.17mi	6/—	2,128 (-3%)	21mo	$255,000	$120	70
618 Racine Ave	0.18mi	6/2.0	2,280 (+4%)	20mo	$215,000	$94	68
2197 Amherst Ave	0.59mi	6/—	2,188 (+0%)	13mo	$242,500	$111	62
2511 Sullivant Ave	0.25mi	6/—	2,352 (+8%)	17mo	$224,000	$95	62
361 S Harris Ave #361	0.48mi	5/— (-1)	1,890 (-14%)	1mo	$180,000	$95	49
780-782 Whitethorne Ave	0.75mi	6/2.0	1,956 (-10%)	11mo	$142,000	$73	38

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: -2.2%
• Equity multiple: 0.91×
• Total profit: $-5,747
• Equity at exit: $35,770

10-year hold

• IRR: 8.9%
• Equity multiple: 1.73×
• Total profit: $48,927
• Equity at exit: $20,742

Cash invested: $67,172 (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: 187
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,538 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$187 /mo · $2,244/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $460

Break-even live

Break-even rent $1,956

Max offer price $239,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,538
Total (2 units)			$2,538

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2545 Vanderberg Ave Columbus, OH	6.0	3.0	2600	$5,800	$2.23	14d	1	0.35mi
89 S Richardson Ave Columbus, OH	6.0	2.0	2112	$1,995	$0.94	2d	1	0.85mi

Listing history 11 events

1. 2026-06-18
   days on market $239,900 Active 14 DOM
2. 2026-06-17
   days on market $239,900 Active 13 DOM
3. 2026-06-16
   days on market $239,900 Active 12 DOM
4. 2026-06-15
   days on market $239,900 Active 11 DOM
5. 2026-06-13
   days on market $239,900 Active 9 DOM
6. 2026-06-13
   days on market $239,900 Active 8 DOM
7. 2026-06-09
   days on market $239,900 Active 5 DOM
8. 2026-06-08
   days on market $239,900 Active 4 DOM
9. 2026-06-07
   days on market $239,900 Active 3 DOM
10. 2026-06-05
    remarks 435-char remark
11. 2026-06-05
    listed $239,900 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: $2,244 · $187/mo
• Projected year-2 tax: $2,993 · $249/mo
• Expected delta: +$749/yr (+$62/mo · 33.4%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,456
• − Mortgage interest: −$13,438
• − Property taxes: −$2,244
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,436
• − Management: −$2,436
• − Depreciation: −$6,979
• Taxable income: $1,722
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $5,106/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

+442.5% since first listed

12 events — show timeline

• 2026-06-04 Listed $239,900 CBRMLS
• 2025-09-18 Rental Removed $900 RENTLY
• 2025-08-27 Listed for Rent $900 RENTLY
• 2024-10-22 Sold (Public Records) $200,000 Public Records
• 2024-05-06 Listing Removed — CBRMLS
• 2024-01-19 Price Changed $265,000 CBRMLS
• 2023-12-30 Price Changed $245,000 CBRMLS
• 2023-12-15 Listed $265,000 CBRMLS
• 2007-01-17 Sold (Public Records) $65,500 Public Records
• 1989-09-05 Sold (Public Records) $48,000 Public Records
• 1988-08-30 Sold (Public Records) $32,000 Public Records
• 1987-07-01 Sold (Public Records) $44,219 Public Records

Property tax history

+6.2%/yr

Latest (2024): $2,244 · +1.3% YoY. Source: county tax records.