629 S Wheatland Ave · Columbus, OH 43204

$160,000

4 bd · None ba · 1,286 sqft · MultiFamily · 13 Days on market

Built 1950 Good condition 5,662 sqft lot Est $162k · 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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +8.1/15.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.6/5.0
• 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

This fully renovated duplex is a turnkey, cash-flowing asset ideal for both first-time investors and seasoned buyers looking to expand their portfolio. Featuring one two-bedroom, one-bathroom unit and one one-bedroom, one-bathroom unit, and is fully tenant-occupied, providing immediate rental income. Unit 631 S Wheatland is leased at $950/month , while Unit 629 S Wheatland is leased at $700/month , offering strong in-place cash flow from day one. With minimal upfront work required and located in an up-and-coming area with continued growth potential, this is a great opportunity to secure a stabilized investment property. For additional details, please review agent-to-agent remarks or reach o

Key facts

• 5,662 sq ft lot
• Built 1950
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive. Per door: $215/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 9.5% 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 fast (+4.5%/yr); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 39% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

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 1950 — 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: 1.21% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $162,036
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1925-1927 Vaughn St	0.64mi	4/—	1,372 (+7%)	9mo	$173,000	$126	51
839-841 S Ogden Ave	0.60mi	4/—	1,457 (+13%)	1mo	$173,000	$119	49
183-185 S Eureka Ave	0.68mi	4/—	1,216 (-5%)	22mo	$152,000	$125	41
2703-2705 Eakin Rd	0.59mi	4/—	1,457 (+13%)	14mo	$227,000	$156	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: 2.5%
• Equity multiple: 1.10×
• Total profit: $4,449
• Equity at exit: $23,857

10-year hold

• IRR: 13.5%
• Equity multiple: 2.16×
• Total profit: $51,772
• Equity at exit: $13,834

Cash invested: $44,800 (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: 13.3×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $430

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,000
1× unit	1	1	$944
Total (2 units)			$1,944

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	43d	1	0.09mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	0.16mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	19d	1	0.18mi
521-523 S Wayne Ave Columbus, OH	3.0	1.0	1092	$1,195	$1.09	3d	1	0.23mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	43d	1	0.34mi
2545-2547 Sullivant Ave Columbus, OH	3.0	1.0	1064	$1,100	$1.03	10d	1	0.35mi
661-663 S Burgess Ave Columbus, OH	3.0	1.0	1100	$1,028	$0.93	43d	1	0.37mi
616-618 S Ogden Ave Columbus, OH	3.0	1.0	1100	$1,125	$1.02	43d	1	0.42mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.45mi
329 S Wayne Ave Columbus, OH	3.0	1.0	1120	$1,425	$1.27	3d	1	0.48mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	43d	1	0.51mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	0.54mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	0.54mi
945 Hodges Dr Columbus, OH	3.0	1.0	1078	$1,640	$1.52	23d	1	0.54mi
608 Racine Ave #610 Columbus, OH	3.0	1.0	1168	$1,195	$1.02	43d	1	0.54mi
252-254 S Wayne Ave Unit 254 Columbus, OH	3.0	1.0	1120	$1,300	$1.16	17d	1	0.58mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	23d	1	0.66mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.75mi
488 Woodbury Ave Columbus, OH	3.0	1.5	1222	$1,250	$1.02	43d	1	0.78mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.83mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	19d	1	0.83mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	43d	1	0.87mi
1028 S Harris Ave Columbus, OH	3.0	1.0	900	$1,500	$1.67	43d	1	0.90mi
29 S Terrace Ave Columbus, OH	3.0	1.0	1144	$1,260	$1.10	23d	1	0.93mi
27-29 N Terrace Ave Unit 29 Columbus, OH	3.0	1.0	1144	$1,260	$1.10	23d	1	0.93mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	43d	1	0.96mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	3d	1	0.96mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	23d	1	1.01mi
39 Eldon Ave Unit 1 Columbus, OH	3.0	2.0	1043	$1,500	$1.44	23d	1	1.03mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	1.08mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	1.08mi
54 N Ogden Ave Columbus, OH	3.0	1.0	1176	$950	$0.81	2d	1	1.10mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	12d	1	1.14mi
43-45 N Chase Ave Unit 43 Columbus, OH	3.0	1.0	1200	$1,400	$1.17	10d	1	1.28mi
43 N Chase Ave Columbus, OH	3.0	1.0	1200	$1,400	$1.17	10d	1	1.28mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	23d	1	1.32mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	1.36mi
2735 Sutton Ave Columbus, OH	3.0	1.0	1099	$1,175	$1.07	3d	1	1.39mi
1475 Pineland Ct Columbus, OH	4.0	2.5	1170	$2,023	$1.73	43d	1	1.39mi
1640 Butterfly Ct Columbus, OH	4.0	2.0	1433	$1,849	$1.29	3d	1	1.40mi

Listing history 4 events

1. 2026-03-31
   status Pending
2. 2026-03-17
   listed $160,000 Active
3. 2024-09-23
   historical
4. 2024-09-17
   listed $85,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 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: $23,328
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$4,655
• Taxable income: $2,778
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $4,494/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This fully renovated and tenant-occupied duplex is in good condition with minimal maintenance required. It offers strong rental income and has potential for further value enhancement through minor updates.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Replace the air conditioning unit — A new AC can improve comfort and energy efficiency.
• Both Install new flooring in the living room — New flooring can significantly improve the aesthetic and value of the living space.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Replace the air conditioning unit — A new AC can improve comfort and energy efficiency. ↑
• Both Install new flooring in the living room — New flooring can significantly improve the aesthetic and value of the living space. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+88.2% since first listed

4 events — show timeline

• 2026-03-31 Pending — CBRMLS
• 2026-03-17 Listed $160,000 CBRMLS
• 2024-09-23 Listing Removed — CBRMLS
• 2024-09-17 Listed $85,000 CBRMLS