1524 Genessee Ave · Columbus, OH 43211

$489,900

8 bd · 0.0 ba · 3,432 sqft · MultiFamily public records · 43 Days on market

Built 1970 9,583 sqft lot $143/sqft · 93% above area

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Turnkey four-unit investment opportunity in the heart of Downtown Columbus! Each spacious unit offers 2 bedrooms, 1 bathroom, and approximately 800 square feet of living space, making this property highly attractive to tenants and investors alike. Three of the four units have undergone a full cosmetic renovation, featuring all new LVP flooring, fresh paint throughout, new carpet on common stairways, and updated bathrooms. Major mechanical updates include new furnaces and central AC units, providing peace of mind and long-term efficiency. The exterior has been significantly improved with fresh paint, new windows, updated fencing, and a newly installed parking lot--enhancing both curb appeal and functionality. Currently, three units are rented, providing immediate cash flow, while one unit remains unrenovated--offering a clear value-add opportunity for the next owner to increase rents and maximize returns. This setup also creates an ideal house hack opportunity--live in the vacant unit while collecting rental income from the other three units to offset (or potentially cover) your mortgage. Finish renovating the final unit to your taste, build equity, and then either lease it out for increased cash flow or continue to enjoy reduced living expenses in a prime Downtown location. Located just minutes from Downtown Columbus' top employers, dining, and entertainment, this is a rare chance to acquire a stabilized asset with upside potential and owner-occupant flexibility.

Key facts

• Fresh paint
• New carpet
• Updated bathrooms

Tags

• FULL COSMETIC RENOVATION
• NEW LVP FLOORING
• FRESH PAINT
• NEW CARPET
• UPDATED BATHROOMS
• NEW FURNACES

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive. Per door: $119/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $461k (5.9% below list).
• Recommended offer: $461k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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; lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $4,611/mo this rent would consume 130% of the median local household income ($43k/yr) (locally 1282% 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 $3k of loan paydown is wiped out by about $15k 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 43 days — a 3% lower offer ($475k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $461,100 (5.9% 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 6% 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 1970 — 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. 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.18
• GRM: 8.9

CMA / ARV

• ARV (median comp): $253,246
• List price: $489,900
• Delta: 93.45%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-47,272
• Equity at exit: $73,046

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $5,452
• Equity at exit: $42,358

Cash invested: $137,172 (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 43211

• Home prices YoY: -27.3%
• Rents YoY: 3.4%
• Active inventory: 166
• Price-to-rent: 35.4×

Monthly cashflow live

• Estimated rent: $4,611 high
• Mortgage (P&I): −$2,569
• Tax from tax record: −$394 /mo · $4,731/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$968
• Net cashflow: $475

Break-even live

Break-even rent $4,009

Max offer price $489,900

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,612
Total (4 units)			$4,611

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-02
   days on market $489,900 Active 43 DOM
2. 2026-06-01
   days on market $489,900 Active 42 DOM
3. 2026-05-31
   days on market $489,900 Active 41 DOM
4. 2026-05-05
   price $489,900 1487-char remark

   Show marketing remark (1487 chars)

   Turnkey four-unit investment opportunity in the heart of Downtown Columbus! Each spacious unit offers 2 bedrooms, 1 bathroom, and approximately 800 square feet of living space, making this property highly attractive to tenants and investors alike. Three of the four units have undergone a full cosmetic renovation, featuring all new LVP flooring, fresh paint throughout, new carpet on common stairways, and updated bathrooms. Major mechanical updates include new furnaces and central AC units, providing peace of mind and long-term efficiency. The exterior has been significantly improved with fresh paint, new windows, updated fencing, and a newly installed parking lot--enhancing both curb appeal and functionality. Currently, three units are rented, providing immediate cash flow, while one unit remains unrenovated--offering a clear value-add opportunity for the next owner to increase rents and maximize returns. This setup also creates an ideal house hack opportunity--live in the vacant unit while collecting rental income from the other three units to offset (or potentially cover) your mortgage. Finish renovating the final unit to your taste, build equity, and then either lease it out for increased cash flow or continue to enjoy reduced living expenses in a prime Downtown location. Located just minutes from Downtown Columbus' top employers, dining, and entertainment, this is a rare chance to acquire a stabilized asset with upside potential and owner-occupant flexibility.

5. 2026-04-20
   listed $499,900 Active 1487-char remark

   Show marketing remark (1487 chars)

   Turnkey four-unit investment opportunity in the heart of Downtown Columbus! Each spacious unit offers 2 bedrooms, 1 bathroom, and approximately 800 square feet of living space, making this property highly attractive to tenants and investors alike. Three of the four units have undergone a full cosmetic renovation, featuring all new LVP flooring, fresh paint throughout, new carpet on common stairways, and updated bathrooms. Major mechanical updates include new furnaces and central AC units, providing peace of mind and long-term efficiency. The exterior has been significantly improved with fresh paint, new windows, updated fencing, and a newly installed parking lot--enhancing both curb appeal and functionality. Currently, three units are rented, providing immediate cash flow, while one unit remains unrenovated--offering a clear value-add opportunity for the next owner to increase rents and maximize returns. This setup also creates an ideal house hack opportunity--live in the vacant unit while collecting rental income from the other three units to offset (or potentially cover) your mortgage. Finish renovating the final unit to your taste, build equity, and then either lease it out for increased cash flow or continue to enjoy reduced living expenses in a prime Downtown location. Located just minutes from Downtown Columbus' top employers, dining, and entertainment, this is a rare chance to acquire a stabilized asset with upside potential and owner-occupant flexibility.

6. 2025-07-23
   soldstatus $485,000
7. 2025-06-27
   soldstatus $485,000 Closed 441-char remark

   Show marketing remark (441 chars)

   Calling all investors! For the first time on market since being built is this incredible 7 unit property. Each unit is a two-stories, featuring two bedrooms and one bathroom. This is a fantastic value add property. All leases are currently month-to-month. Tenants pay gas + electric, landlord pays water/sewer (property is not submetered). * * This property conists of two building, each on their own parcel - 1524 & 1530 Genessee Ave

8. 2025-06-12
   historical Contingent 441-char remark

   Show marketing remark (441 chars)

   Calling all investors! For the first time on market since being built is this incredible 7 unit property. Each unit is a two-stories, featuring two bedrooms and one bathroom. This is a fantastic value add property. All leases are currently month-to-month. Tenants pay gas + electric, landlord pays water/sewer (property is not submetered). * * This property conists of two building, each on their own parcel - 1524 & 1530 Genessee Ave

9. 2025-06-11
   listed $470,000 Active 441-char remark

   Show marketing remark (441 chars)

   Calling all investors! For the first time on market since being built is this incredible 7 unit property. Each unit is a two-stories, featuring two bedrooms and one bathroom. This is a fantastic value add property. All leases are currently month-to-month. Tenants pay gas + electric, landlord pays water/sewer (property is not submetered). * * This property conists of two building, each on their own parcel - 1524 & 1530 Genessee Ave

10. 2025-06-10
    historical $470,000 441-char remark

    Show marketing remark (441 chars)

    Calling all investors! For the first time on market since being built is this incredible 7 unit property. Each unit is a two-stories, featuring two bedrooms and one bathroom. This is a fantastic value add property. All leases are currently month-to-month. Tenants pay gas + electric, landlord pays water/sewer (property is not submetered). * * This property conists of two building, each on their own parcel - 1524 & 1530 Genessee Ave

ⓘ 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: $4,731 · $394/mo
• Projected year-2 tax: $6,187 · $516/mo
• Expected delta: +$1,456/yr (+$121/mo · 30.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,332
• − Mortgage interest: −$27,442
• − Property taxes: −$4,731
• − Insurance: −$2,450
• − Repairs & maintenance: −$4,427
• − Management: −$4,427
• − Depreciation: −$14,252
• Taxable loss: −$2,395
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $6,278/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): 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

+4.2% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $489,900 CBRMLS
• 2026-04-20 Listed $499,900 CBRMLS
• 2025-07-23 Sold (Public Records) $485,000 Public Records
• 2025-06-27 Sold (MLS) $485,000 CBRMLS
• 2025-06-12 Contingent — CBRMLS
• 2025-06-11 Listed $470,000 CBRMLS
• 2025-06-10 Coming Soon $470,000 CBRMLS

Property tax history

+3.8%/yr

Latest (2024): $4,731 · +1.6% YoY. Source: county tax records.