526 W 1st Ave · Columbus, OH 43201

$549,900

6 bd · 0.0 ba · 3,021 sqft · MultiFamily · 86 Days on market

Built 1900 Average condition 3,484 sqft lot $182/sqft · 16% below area Est $658k · 16% under ↓ 12% 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 +16.2/30.0
• ARV discount +14.9/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.8/5.0
• 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 - both sides 3 bedroom. 528 has a bonus loft/office area.

Key facts

• Office area
• Bonus loft
• 3,484 sq ft lot

Tags

• BONUS LOFT
• OFFICE AREA

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $550k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive. Per door: $146/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 $518k (5.8% below list).
• Recommended offer: $517k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+2.1%/yr); 136 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $5,181/mo this rent would consume 142% of the median local household income ($44k/yr) (locally 4913% 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 $4k of loan paydown is wiped out by about $16k 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 86 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $516,905 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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 1900 — 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: 0.94% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 8.8

CMA / ARV

• ARV (median comp): $657,656
• List price: $549,900
• Delta: -16.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326 - 328 W 1st Ave	0.29mi	6/—	2,668 (-12%)	13mo	$620,000	$232	56
246 - 248 W 4th Ave	0.48mi	6/—	3,386 (+12%)	13mo	$549,000	$162	47
823 - 827 Timberman Rd	0.73mi	6/—	2,586 (-14%)	10mo	$585,000	$226	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 · 2.14% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-74,829
• Equity at exit: $81,992

10-year hold

• IRR: -6.2%
• Equity multiple: 0.62×
• Total profit: $-58,760
• Equity at exit: $47,545

Cash invested: $153,972 (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 43201

• Rents YoY: 2.1%
• Active inventory: 136
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $5,181 high
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$687 /mo · $8,248/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,088
• Net cashflow: $293

Break-even live

Break-even rent $4,810

Max offer price $549,900

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,182
Total (2 units)			$5,181

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: $137,475
• Closing costs: $16,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
294 King Ave Columbus, OH	5.0	3.0	2500	$2,395	$0.96	43d	1	0.71mi
1329 Indianola Ave Unit 1407030P Columbus, OH	6.0	2.5	3498	$8,656	$2.47	21d	1	1.02mi
1329 Indianola Ave Unit 1407025P Columbus, OH	5.0	2.5	3498	$8,624	$2.47	23d	1	1.02mi

Listing history 21 events

1. 2026-06-18
   days on market $549,900 Active 86 DOM
2. 2026-06-17
   days on market $549,900 Active 85 DOM
3. 2026-06-16
   days on market $549,900 Active 84 DOM
4. 2026-06-15
   days on market $549,900 Active 83 DOM
5. 2026-06-13
   days on market $549,900 Active 81 DOM
6. 2026-06-13
   days on market $549,900 Active 80 DOM
7. 2026-06-09
   days on market $549,900 Active 77 DOM
8. 2026-06-08
   days on market $549,900 Active 76 DOM
9. 2026-06-07
   days on market $549,900 Active 75 DOM
10. 2026-06-05
    days on market $549,900 Active 72 DOM
11. 2026-06-03
    days on market $549,900 Active 71 DOM
12. 2026-06-02
    days on market $549,900 Active 70 DOM
13. 2026-06-01
    days on market $549,900 Active 69 DOM
14. 2026-05-31
    days on market $549,900 Active 68 DOM
15. 2026-05-15
    historical Contingent 64-char remark

    Show marketing remark (64 chars)

    Duplex - both sides 3 bedroom. 528 has a bonus loft/office area.

16. 2026-05-12
    price $549,900 64-char remark

    Show marketing remark (64 chars)

    Duplex - both sides 3 bedroom. 528 has a bonus loft/office area.

17. 2026-03-24
    listed $579,900 Active 64-char remark

    Show marketing remark (64 chars)

    Duplex - both sides 3 bedroom. 528 has a bonus loft/office area.

18. 2026-03-24
    historical

    Show marketing remark (64 chars)

    Duplex - both sides 3 bedroom. 528 has a bonus loft/office area.

19. 2026-01-14
    price $599,900
20. 2025-12-03
    listed $625,000 Active
21. 2025-11-28
    historical

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,172
• − Mortgage interest: −$30,803
• − Property taxes: −$8,248
• − Insurance: −$2,750
• − Repairs & maintenance: −$4,974
• − Management: −$4,974
• − Depreciation: −$15,997
• Taxable loss: −$5,574
• Est. tax savings @ 24.0%: +$1,338
• After-tax cash flow: $4,851/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

Average 55/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include painting, landscaping, and updating the kitchen and bathrooms.

Repairs flagged

• Minor kitchen cabinets — existing cabinetry
• Minor bathroom fixtures — existing fixtures
• Minor roof shingles — existing shingles
• Minor exterior siding — existing siding
• Minor interior walls — existing paint
• Minor windows — existing windows
• Minor HVAC system — existing heating and cooling systems

Value-add opportunities

• Both paint interior walls and trim — enhances curb appeal and interior aesthetics
• Both landscape and add curb appeal — enhances curb appeal and property value
• Both replace kitchen cabinets and countertops — modernizes kitchen and increases value
• Both replace bathroom fixtures and tiles — modernizes bathrooms and increases value
• Both replace roof shingles — extends roof life and enhances curb appeal
• Both replace exterior siding — enhances curb appeal and property value
• Both replace HVAC system — improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing cabinetry	Minor	$500–3,000
bathroom fixtures · existing fixtures	Minor	$500–3,000
roof shingles · existing shingles	Minor	$500–3,000
exterior siding · existing siding	Minor	$500–3,000
interior walls · existing paint	Minor	$500–3,000
windows · existing windows	Minor	$500–3,000
HVAC system · existing heating and cooling systems	Minor	$500–3,000
Total estimated repair cost · 7 items		$3,500–21,000

Value-add ROI direction

• Both paint interior walls and trim — enhances curb appeal and interior aesthetics ↑
• Both landscape and add curb appeal — enhances curb appeal and property value ↑
• Both replace kitchen cabinets and countertops — modernizes kitchen and increases value ↑
• Both replace bathroom fixtures and tiles — modernizes bathrooms and increases value ↑
• Both replace roof shingles — extends roof life and enhances curb appeal ↑
• Both replace exterior siding — enhances curb appeal and property value ↑
• Both replace HVAC system — improves comfort and energy efficiency ↑

ⓘ 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): 34,322
• Household income: $43,731
• Rent vs Own: 83.4% rent · 16.6% own
• Severe rent burden: 4913.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

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: ▼ -207.90%
• Current HPI: 321.7282
• Rent YoY: ▲ 2.14%
• 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

-12.0% since first listed

7 events — show timeline

• 2026-05-15 Contingent — CBRMLS
• 2026-05-12 Price Changed $549,900 CBRMLS
• 2026-03-24 Listing Removed — CBRMLS
• 2026-03-24 Listed $579,900 CBRMLS
• 2026-01-14 Price Changed $599,900 CBRMLS
• 2025-12-03 Listed $625,000 CBRMLS
• 2025-11-28 Coming Soon — CBRMLS