514-516 Olpp Ave · Columbus, OH 43207

$249,999

6 bd · 2.0 ba · 2,080 sqft · MultiFamily public records · 13 Days on market

Built 1900 4,356 sqft lot Est $256k · at est.

---

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 +24.8/30.0
• ARV discount +8.5/15.0
• DSCR +8.0/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex located in Columbus offering 2 bedrooms and 1 bath per each unit. Property has a two car garage, front covered porch, deck, and basement. Both units need TLC!

Key facts

• 4,356 sq ft lot
• Built 1900
• Listed 13 days

Property features AI

Finance

• Other: Two total units (multi-unit property)
• Financial info: Annual tax reported for 2024

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 with two residential units
• Heating & cooling: Forced air heating
• Interior features: Forced air heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive. Per door: $263/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.8% 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); 196 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 30y 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 $199k; 26% 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. 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. 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.
7. 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.
8. 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: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $255,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1615-1617 S 8th St	0.41mi	6/—	2,080 (0%)	15mo	$475,000	$228	68
1646 S 4th St	0.61mi	6/—	1,976 (-5%)	1mo	$102,000	$52	62
941 Lawrence Dr	0.62mi	6/—	1,968 (-5%)	2mo	$80,000	$41	61
655-657 Frebis Ave	0.61mi	6/—	2,184 (+5%)	8mo	$268,000	$123	56
291-293 E Morrill Ave	0.36mi	6/—	2,184 (+5%)	22mo	$385,000	$176	56
262-264 E Jenkins Ave	0.60mi	6/—	2,080 (0%)	19mo	$475,000	$228	56
361-363 Southwood Ave	0.42mi	6/—	2,352 (+13%)	7mo	$425,000	$181	53
1671-1673 S 4th St	0.63mi	6/—	2,184 (+5%)	20mo	$175,000	$80	46
124-126 E Morrill Ave	0.60mi	6/—	1,920 (-8%)	17mo	$172,500	$90	45
72-74 E Woodrow Ave	0.63mi	6/—	2,184 (+5%)	23mo	$432,500	$198	43
219-221 Reeb Ave #219	0.43mi	6/—	1,820 (-12%)	21mo	$219,000	$120	42
120-122 E Morrill Ave	0.60mi	6/—	2,268 (+9%)	19mo	$193,500	$85	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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-8,875
• Equity at exit: $37,276

10-year hold

• IRR: 5.5%
• Equity multiple: 1.40×
• Total profit: $27,806
• 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: 196
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,792 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$264 /mo · $3,170/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $526

Break-even live

Break-even rent $2,126

Max offer price $249,999

Occupancy floor 76%

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2089 Lockbourne Rd Columbus, OH	5.0	2.0	2534	$2,800	$1.10	10d	1	0.90mi

Listing history 11 events

1. 2026-06-18
   days on market $249,999 Active 13 DOM
2. 2026-06-17
   days on market $249,999 Active 12 DOM
3. 2026-06-16
   days on market $249,999 Active 11 DOM
4. 2026-06-15
   days on market $249,999 Active 10 DOM
5. 2026-06-13
   days on market $249,999 Active 8 DOM
6. 2026-06-13
   days on market $249,999 Active 7 DOM
7. 2026-06-09
   days on market $249,999 Active 4 DOM
8. 2026-06-08
   days on market $249,999 Active 3 DOM
9. 2026-06-07
   status $249,999 Active 2 DOM
10. 2026-06-05
    remarks 690-char remark
11. 2026-06-05
    listed $249,999 Coming Soon 2 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: $3,170 · $264/mo
• Projected year-2 tax: $3,535 · $295/mo
• Expected delta: +$365/yr (+$30/mo · 11.5%)

ⓘ 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: $33,504
• − Mortgage interest: −$14,004
• − Property taxes: −$3,170
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,680
• − Management: −$2,680
• − Depreciation: −$7,273
• Taxable income: $2,447
• Est. tax owed @ 24.0%: −$587
• After-tax cash flow: $5,729/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

+455.6% since first listed

15 events — show timeline

• 2026-06-05 Listed $249,999 CBRMLS
• 2026-06-02 Coming Soon $249,999 CBRMLS
• 2023-05-11 Sold (Public Records) $199,000 Public Records
• 2019-11-13 Sold (Public Records) $110,000 Public Records
• 2017-07-28 Sold (Public Records) $50,000 Public Records
• 2012-05-22 Sold (MLS) $8,200 CBRMLS
• 2012-05-15 Listing Removed — CBRMLS
• 2012-04-10 Listed $10,700 CBRMLS
• 2007-05-16 Sold (Public Records) $17,000 Public Records
• 1997-11-29 Listing Removed — CBRMLS
• 1997-06-06 Listed $35,000 CBRMLS
• 1997-06-02 Listing Removed — CBRMLS
• 1997-02-19 Listed $35,000 CBRMLS
• 1996-12-05 Listing Removed — CBRMLS
• 1996-06-24 Listed $45,000 CBRMLS

Property tax history

+15.0%/yr

Latest (2024): $3,170 · +0.2% YoY. Source: county tax records.