1226-1228 Gilbert St · Columbus, OH 43206

$247,900

4 bd · 0.0 ba · 1,568 sqft · MultiFamily · 281 Days on market

Built 1930 Good condition 3,920 sqft lot $158/sqft · 12% below area Est $282k · 12% under ↓ 3% since listing

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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 +21.4/30.0
• ARV discount +12.9/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +1.8/10.0
• 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

Fully occupied duplex in Columbus delivering immediate income and steady demand. With two units under one roof, this property offers a practical setup for investors looking to strengthen their portfolio with a well located, income producing asset. Curb offers only, please do not disturb tenant. Owner/Agent, see A2A.

Key facts

• 3,920 sq ft lot
• Built 1930
• Listed 281 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $248k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive. Per door: $183/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $248k).
• Recommended offer: $218k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.9% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Arts Impact Middle School (Aims) (math 17% / reading 25%, grade F, #608 of 654 statewide, top 93%, 532 students, 0% FRL); South High School (math 10% / reading 26%, grade F, #687 of 781 statewide, top 88%, 903 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.5%/yr); 320 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 94d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

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

• It's been on market 281 days — a 12% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $281,829
• List price: $247,900
• Delta: -12.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
735-737 E Mithoff St	0.13mi	4/—	1,568 (0%)	8mo	$290,000	$185	87
784 E Mithoff St	0.09mi	4/—	1,568 (0%)	15mo	$265,000	$169	83
772-774 E Mithoff St	0.09mi	4/—	1,568 (0%)	22mo	$263,500	$168	78
678-680 E Gates St	0.20mi	4/—	1,568 (0%)	21mo	$230,000	$147	73
968 Heyl Ave	0.36mi	3/— (-1)	1,499 (-4%)	13mo	$341,000	$227	60
1274-1276 Lockbourne Rd	0.60mi	4/—	1,408 (-10%)	3mo	$150,000	$107	53
1436 Ellsworth Ave	0.74mi	4/—	1,792 (+14%)	1mo	$250,000	$140	41
1437 Ellsworth Ave	0.71mi	4/—	1,792 (+14%)	6mo	$310,000	$173	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 · 3.51% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-15,507
• Equity at exit: $36,963

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $22,244
• Equity at exit: $21,434

Cash invested: $69,412 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 4 active · 5 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $259,950 ($146/sqft)
• Median days on market: 65 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +23.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43206

• Rents YoY: 3.5%
• Active inventory: 320
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,631 high
• Mortgage (P&I): −$1,300
• Tax est. 1.5%: −$310 /mo · $3,718/yr
• Insurance: −$103
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $365

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,630
Total (2 units)			$2,631

Break-even live

Break-even rent $2,169

Max offer price $247,900

Occupancy floor 81%

Sensitivity live

Price	-10% $537	-5% $451	+0% $365	+5% $280	+10% $194
Rent	-10% $157	-5% $261	+0% $365	+5% $469	+10% $573
Rate	-1.0pp $490	-0.5pp $428	base $365	+0.5pp $301	+1.0pp $236

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: $61,975
• Closing costs: $7,437
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
765 E Deshler Ave Columbus, OH	3.0	1.0	1332	$1,350	$1.01	93d	1	0.07mi
751 E Mithoff St Columbus, OH	2.0	1.0	1568	$1,000	$0.64	59d	1	0.09mi
1250-1252 S 22nd St Columbus, OH	3.0	1.5	1134	$1,395	$1.23	0d	1	0.09mi
1288 S 22nd St Columbus, OH	3.0	1.0	—	$1,300	—	6d	1	0.10mi
735-737 E Mithoff St Columbus, OH	2.0	1.0	800	$1,395	$1.74	119d	1	0.10mi
737 E Mithoff St Columbus, OH	2.0	1.0	800	$1,395	$1.74	76d	1	0.10mi
835 E Mithoff St Unit D Columbus, OH	2.0	1.0	715	$995	$1.39	3d	1	0.13mi
835 E Mithoff St Unit B Columbus, OH	2.0	1.0	715	$995	$1.39	10d	1	0.13mi
835 E Mithoff St Unit 833 Columbus, OH	2.0	1.0	715	$1,025	$1.43	10d	1	0.13mi
672 E Mithoff St Columbus, OH	2.0	1.0	768	$1,200	$1.56	76d	1	0.16mi
761 Siebert St Columbus, OH	2.0	2.0	1050	$2,100	$2.00	76d	1	0.20mi
1239-1241 S Champion Ave Columbus, OH	3.0	1.0	1134	$1,275	$1.12	111d	1	0.21mi
634 E Mithoff St Columbus, OH	3.0	1.5	1550	$1,800	$1.16	71d	1	0.21mi
1225 S Champion Ave Unit 1225 Columbus, OH	3.0	1.0	1110	$1,095	$0.99	99d	1	0.21mi
1227 S Champion Ave Unit 1227 Columbus, OH	3.0	1.0	1110	$1,195	$1.08	99d	1	0.22mi
1113 S 22nd St Unit 1113 Columbus, OH	3.0	1.0	—	$1,195	—	111d	1	0.22mi
723 Siebert St Columbus, OH	2.0	2.5	1279	$2,250	$1.76	10d	1	0.23mi
713 Hanford St Unit 713 Columbus, OH	2.0	1.0	—	$1,600	—	111d	1	0.23mi
1260 S Champion Ave Columbus, OH	3.0	1.5	—	$1,650	—	111d	1	0.23mi
726 Frebis Ave Columbus, OH	2.0	1.0	850	$1,175	$1.38	10d	1	0.26mi
659-661 Hanford St Unit 661 Columbus, OH	2.0	1.0	—	$1,100	—	0d	1	0.26mi
1416 S Ohio Ave Columbus, OH	3.0	1.5	1056	$1,595	$1.51	117d	1	0.26mi
859-861 Reinhard Ave Columbus, OH	2.0	2.5	1326	$1,450	$1.09	42d	1	0.27mi
859-861 Reinhard Ave Columbus, OH	2.0	2.5	1326	$1,500	$1.13	67d	1	0.27mi
1249 Oakwood Ave Columbus, OH	3.0	2.0	1176	$1,699	$1.44	83d	1	0.28mi
1118 S Ohio Ave Columbus, OH	3.0	1.5	1232	$1,750	$1.42	139d	1	0.28mi
810 Reinhard Ave Columbus, OH	3.0	1.0	1100	$1,210	$1.10	0d	1	0.29mi
808 Reinhard Ave Unit 810 Columbus, OH	3.0	1.0	1100	$1,210	$1.10	0d	1	0.29mi
1156 S Champion Ave Columbus, OH	3.0	1.5	1144	$1,950	$1.70	10d	1	0.29mi
573 E Mithoff St Columbus, OH	3.0	1.5	1300	$2,100	$1.62	139d	1	0.29mi
846 Reinhard Ave Unit 848 Columbus, OH	2.0	1.0	—	$1,275	—	42d	1	0.29mi
846-848 Reinhard Ave Unit 846 Columbus, OH	2.0	1.0	—	$1,275	—	42d	1	0.29mi
846 Reinhard Ave Unit 848 Columbus, OH	2.0	1.0	—	$1,195	—	7d	1	0.29mi
1373 Oakwood Ave Columbus, OH	3.0	1.5	1280	$2,000	$1.56	10d	1	0.30mi
1125 S Champion Ave Columbus, OH	2.0	1.0	903	$1,195	$1.32	7d	1	0.30mi
681 Frebis Ave Columbus, OH	3.0	1.0	925	$1,495	$1.62	7d	1	0.31mi
755 E Whittier St Columbus, OH	1.0–2.0	1.0	776	$1,335	$1.72	6d	1	0.32mi
567 E Deshler Ave Columbus, OH	2.0	1.0	1064	$1,149	$1.08	10d	1	0.33mi
554 E Gates St Columbus, OH	2.0	1.0	902	$1,295	$1.44	106d	1	0.33mi
1175 Ann St Columbus, OH	2.0	1.0	904	$1,495	$1.65	139d	1	0.33mi

Listing history 50 events

1. 2026-09-23
   days on market $247,900 Active 281 DOM
2. 2026-09-22
   days on market $247,900 Active 280 DOM
3. 2026-09-21
   days on market $247,900 Active 279 DOM
4. 2026-09-20
   days on market $247,900 Active 278 DOM
5. 2026-09-19
   days on market $247,900 Active 277 DOM
6. 2026-09-18
   days on market $247,900 Active 276 DOM
7. 2026-09-17
   days on market $247,900 Active 275 DOM
8. 2026-09-16
   days on market $247,900 Active 274 DOM
9. 2026-09-15
   days on market $247,900 Active 273 DOM
10. 2026-09-14
    days on market $247,900 Active 272 DOM
11. 2026-09-13
    days on market $247,900 Active 271 DOM
12. 2026-09-12
    days on market $247,900 Active 270 DOM
13. 2026-09-11
    days on market $247,900 Active 269 DOM
14. 2026-09-05
    days on market $247,900 Active 263 DOM
15. 2026-09-04
    days on market $247,900 Active 262 DOM
16. 2026-09-03
    days on market $247,900 Active 261 DOM
17. 2026-08-31
    pricedays on market $247,900 Active 258 DOM
18. 2026-08-30
    days on market $257,900 Active 257 DOM
19. 2026-08-29
    days on market $257,900 Active 256 DOM
20. 2026-08-28
    days on market $257,900 Active 255 DOM
21. 2026-08-27
    days on market $257,900 Active 254 DOM
22. 2026-08-26
    days on market $257,900 Active 253 DOM
23. 2026-08-25
    days on market $257,900 Active 252 DOM
24. 2026-08-24
    days on market $257,900 Active 251 DOM
25. 2026-08-23
    days on market $257,900 Active 250 DOM
26. 2026-08-22
    days on market $257,900 Active 249 DOM
27. 2026-08-21
    days on market $257,900 Active 248 DOM
28. 2026-08-20
    days on market $257,900 Active 247 DOM
29. 2026-08-19
    days on market $257,900 Active 246 DOM
30. 2026-08-18
    days on market $257,900 Active 245 DOM
31. 2026-08-17
    days on market $257,900 Active 244 DOM
32. 2026-08-16
    days on market $257,900 Active 243 DOM
33. 2026-08-15
    days on market $257,900 Active 242 DOM
34. 2026-08-14
    days on market $257,900 Active 241 DOM
35. 2026-08-13
    days on market $257,900 Active 240 DOM
36. 2026-08-12
    days on market $257,900 Active 239 DOM
37. 2026-08-12
    price $257,900 Active 238 DOM
38. 2026-08-11
    remarks 348-char remark
39. 2026-08-11
    days on market $267,500 Active 238 DOM
40. 2026-08-10
    days on market $267,500 Active 237 DOM
41. 2026-08-09
    days on market $267,500 Active 236 DOM
42. 2026-08-08
    days on market $267,500 Active 235 DOM
43. 2026-08-07
    days on market $267,500 Active 234 DOM
44. 2026-08-06
    days on market $267,500 Active 233 DOM
45. 2026-08-05
    days on market $267,500 Active 232 DOM
46. 2026-08-04
    days on market $267,500 Active 231 DOM
47. 2026-08-03
    days on market $267,500 Active 230 DOM
48. 2026-07-31
    days on market $267,500 Active 227 DOM
49. 2026-07-30
    days on market $267,500 Active 226 DOM
50. 2026-07-30
    days on market $267,500 Active 225 DOM

ⓘ 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 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: $31,572
• − Mortgage interest: −$13,886
• − Property taxes: −$3,718
• − Insurance: −$1,240
• − Repairs & maintenance: −$2,526
• − Management: −$2,526
• − Depreciation: −$7,212
• Taxable income: $465
• Est. tax owed @ 24.0%: −$112
• After-tax cash flow: $4,272/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 · 6 photos

Good 75/100 Cosmetic rehab Est. rehab $7,840–$23,520 screening

This fully occupied duplex in Columbus is in good condition with minimal repairs needed. It offers a practical setup for investors looking to strengthen their portfolio with a well located, income producing asset.

Value-add opportunities

• Both Paint exterior trim — Fresh paint can enhance curb appeal and property value. ↑
• Both Clean gutters — Clean gutters improve drainage and prevent water damage, enhancing property value and reducing maintenance costs. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 18/100

Zoned Schools

Elementary Lincoln Park Elementary School F OH #1,382/1,584 Nat'l #36,424/41,679 Middle Arts Impact Middle School (Aims) F OH #608/654 Nat'l #11,464/14,009 High South High School F OH #687/781 Nat'l #14,759/17,239

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

A Composite livability gradescore 81/100

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 · 1,456,139 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 21,996
• Household income: $75,806
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Black 31% Two or more races 9% Hispanic / Latino 4% Asian 1% Native American 1%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

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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: ▼ -576.73%
• Current HPI: 173.8569
• Rent YoY: ▲ 3.51%
• Metro: Columbus, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

-2.7% since first listed

2 events — show timeline

• 2026-03-11 Price Changed $267,500 CBRMLS
• 2025-12-16 Listed $275,000 CBRMLS