28-30 N Warren Ave · Columbus, OH 43204

$239,000

4 bd · 2.0 ba · 2,250 sqft · MultiFamily public records · 7 Days on market

Built 1920 3,920 sqft lot Est $243k · at est.

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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 +22.5/30.0
• ARV discount +8.2/15.0
• DSCR +7.2/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• 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

All new windows and screens installed 2023 under the Cols Lead Free. All exterior wood vinyl covered same program. New roof 2023. Unit 28 long term tenants month to month 850. Unit 30 left vacant for viewing was renting at 950. Both units could be higher. Unit 28 can be viewed when in contract. Seller is a Lic Realtor in Ohio.

Key facts

• Exterior wood vinyl
• New roof
• New windows

Tags

• NEW WINDOWS
• NEW ROOF
• EXTERIOR WOOD VINYL

Property features AI

Finance

• Other: Two total units
• Financial info: Annual taxes listed (see full tax details with agent)

Exterior

• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Storm sewer
• Home design: Duplex; Built in 1920; Located on N Warren Ave near W Broad
• Construction: Year built 1920
• Exterior features: Lot is approximately 0.09 acres

Interior

• Heating & cooling: Forced air
• 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 $239k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive. Per door: $201/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Cap rate 8.3% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $2,504/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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 31y 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 $71k; list at $239k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,000

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 1920 — 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: 1.05% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $243,000
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154-156 N Huron Ave	0.52mi	4/—	2,241 (-0%)	2mo	$259,900	$116	74
48-50 N Ogden Ave	0.06mi	4/—	2,044 (-9%)	20mo	$174,000	$85	66
70-72 S Eureka Ave	0.36mi	4/—	2,264 (+1%)	22mo	$155,000	$68	64
212-214 S Eureka Ave	0.48mi	4/—	2,352 (+4%)	11mo	$255,000	$108	61
35-37 Haldy Ave	0.45mi	4/—	2,128 (-5%)	15mo	$270,000	$127	58
34-36 Midland Ave	0.73mi	4/—	2,140 (-5%)	2mo	$200,000	$93	56
176 N Harris Ave	0.23mi	4/—	2,504 (+11%)	21mo	$177,000	$71	53
255 S Chase Ave	0.51mi	4/—	2,020 (-10%)	18mo	$245,000	$121	44
375 S Chase Ave	0.66mi	4/—	2,020 (-10%)	22mo	$256,500	$127	34

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-9,299
• Equity at exit: $35,636

10-year hold

• IRR: 7.6%
• Equity multiple: 1.61×
• Total profit: $40,983
• Equity at exit: $20,664

Cash invested: $66,920 (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: 15.9×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$223 /mo · $2,674/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $402

Break-even live

Break-even rent $1,995

Max offer price $239,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,504
Total (2 units)			$2,504

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2745-2747 Steele Ave Columbus, OH	3.0	1.0	2128	$1,200	$0.56	43d	1	0.24mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	43d	1	1.18mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	23d	1	1.19mi

Listing history 7 events

1. 2026-06-18
   days on market $239,000 Active 7 DOM
2. 2026-06-17
   days on market $239,000 Active 6 DOM
3. 2026-06-16
   days on market $239,000 Active 5 DOM
4. 2026-06-15
   days on market $239,000 Active 4 DOM
5. 2026-06-13
   days on market $239,000 Active 2 DOM
6. 2026-06-13
   remarks 328-char remark
7. 2026-06-13
   listed $239,000 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: $2,674 · $223/mo
• Projected year-2 tax: $3,201 · $267/mo
• Expected delta: +$527/yr (+$44/mo · 19.7%)

ⓘ 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 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,048
• − Mortgage interest: −$13,388
• − Property taxes: −$2,674
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − Depreciation: −$6,953
• Taxable income: $1,031
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $4,581/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

+299.3% since first listed

6 events — show timeline

• 2026-06-11 Listed $239,000 CBRMLS
• 2015-02-27 Listing Removed — CBRMLS
• 1998-04-23 Sold (Public Records) $71,000 Public Records
• 1995-10-24 Sold (Public Records) $56,500 Public Records
• 1995-10-17 Sold (MLS) $56,500 CBRMLS
• 1995-03-29 Listed $59,850 CBRMLS

Property tax history

+4.7%/yr

Latest (2024): $2,674 · +1.3% YoY. Source: county tax records.