189-191 S Highland Ave · Columbus, OH 43223

$209,900

6 bd · 0.0 ba · 1,760 sqft · MultiFamily · 34 Days on market

Built 1969 Fair condition 6,098 sqft lot $119/sqft · at area comps Est $202k · 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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• ARV discount +5.6/15.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.2/5.0
• 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

Hilltop Duplex for Sale. 3 bedroom per side ranch duplex for sale in the central hilltop area. Property is located on a quiet street that is closed to Columbus mass transport lines. Apartments are in high demand area and typically rent within days of posting. Property includes full high ceiling unfinished basements per side that allow for easy repairs and extra space. Professional, long-term tenants who handle minor upkeep and day-to-day maintenance. Lot Size: Large 6,222 sq. ft. lot with 4 off-street parking spaces.

Key facts

• Off street parking
• 6,098 sq ft lot
• Built 1969

Tags

• MASONRY BRICK EXTERIOR
• LARGE UNFINISHED BASEMENTS
• OFF STREET PARKING

Property features AI

Finance

• Other: Annual taxes reported as $2,225 (2024)
• Financial info: Net operating income listed as $2,000
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Duplex; Built in 1969
• Construction:
• Exterior features: Lot approximately 0.14 acre

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms:
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Forced air heating; No central cooling
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $210k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive. Per door: $267/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (+4.6%/yr); 144 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,512/mo this rent would consume 64% of the median local household income ($47k/yr) (locally 1689% 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 $1k of loan paydown is wiped out by about $6k 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 + 4.6% rent growth), your $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $203,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.20% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.90%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $201,510
• List price: $209,900
• Delta: 4.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
361 S Harris Ave #361	0.67mi	5/— (-1)	1,890 (+7%)	1mo	$180,000	$95	50
283-285 Wrexham Ave	0.39mi	6/—	2,016 (+14%)	23mo	$190,000	$94	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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $4,164
• Equity at exit: $31,297

10-year hold

• IRR: 13.0%
• Equity multiple: 2.11×
• Total profit: $65,099
• Equity at exit: $18,148

Cash invested: $58,772 (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 43223

• Rents YoY: 4.6%
• Active inventory: 144
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,512 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,148/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $534

Break-even live

Break-even rent $1,836

Max offer price $209,900

Occupancy floor 74%

Sensitivity live

Price	-10% $679	-5% $606	+0% $534	+5% $461	+10% $389
Rent	-10% $335	-5% $435	+0% $534	+5% $633	+10% $732
Rate	-1.0pp $640	-0.5pp $587	base $534	+0.5pp $480	+1.0pp $424

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$2,512
Total (2 units)			$2,512

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 S Richardson Ave Columbus, OH	6.0	2.0	2112	$1,995	$0.94	2d	1	0.39mi
2545 Vanderberg Ave Columbus, OH	6.0	3.0	2600	$5,800	$2.23	15d	1	1.10mi
63 Stevens Ave Columbus, OH	5.0	2.0	2437	$2,000	$0.82	8d	1	1.13mi
228 Schultz Ave Unit 1407033P Columbus, OH	5.0	1.5	1991	$5,806	$2.92	8d	1	1.18mi

Listing history 19 events

1. 2026-06-18
   days on market $209,900 Active 34 DOM
2. 2026-06-17
   pricedays on market $209,900 Active 33 DOM
3. 2026-06-16
   days on market $217,900 Active 32 DOM
4. 2026-06-15
   days on market $217,900 Active 31 DOM
5. 2026-06-13
   days on market $217,900 Active 29 DOM
6. 2026-06-13
   days on market $217,900 Active 28 DOM
7. 2026-06-09
   days on market $217,900 Active 25 DOM
8. 2026-06-08
   days on market $217,900 Active 24 DOM
9. 2026-06-07
   days on market $217,900 Active 23 DOM
10. 2026-06-05
    days on market $217,900 Active 20 DOM
11. 2026-06-03
    days on market $217,900 Active 19 DOM
12. 2026-06-02
    days on market $217,900 Active 18 DOM
13. 2026-06-01
    days on market $217,900 Active 17 DOM
14. 2026-05-31
    days on market $217,900 Active 16 DOM
15. 2026-05-16
    status Pending 1312-char remark
16. 2026-05-11
    listed $224,900 Active 1312-char remark
17. 2006-06-29
    listed $89,000
18. 2006-05-25
    historical
19. 2006-05-18
    listed $88,000

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

Taxation est. · year 1

• Rental income: $30,144
• − Mortgage interest: −$11,758
• − Property taxes: −$3,148
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,412
• − Management: −$2,412
• − Depreciation: −$6,106
• Taxable income: $3,259
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $5,625/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 · 5 photos

Fair 45/100 Moderate rehab

This duplex requires moderate repairs and updates to improve its condition and value. Key areas for investment include updating the kitchen, painting interior walls, and repairing the exterior siding.

Repairs flagged

• Minor kitchen cabinets — dark, dated cabinets
• Minor kitchen sink — basic sink, no appliances
• Minor exterior siding — some discoloration

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets and sink — Modern kitchen updates improve functionality and appeal
• Both repair and paint exterior siding — Fresh siding and paint improve curb appeal and home value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dark, dated cabinets	Minor	$500–3,000
kitchen sink · basic sink, no appliances	Minor	$500–3,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets and sink — Modern kitchen updates improve functionality and appeal ↑
• Both repair and paint exterior siding — Fresh siding and paint improve curb appeal and home value ↑

ⓘ 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): 28,187
• Household income: $46,911
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1689.0

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 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5%

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: ▼ -135.33%
• Current HPI: 211.6742
• Rent YoY: ▲ 4.61%
• 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

+138.5% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $209,900 CBRMLS
• 2026-05-27 Price Changed $217,900 CBRMLS
• 2026-05-20 Relisted — CBRMLS
• 2026-05-16 Pending — CBRMLS
• 2026-05-11 Listed $224,900 CBRMLS
• 2006-06-29 Listed $89,000 CBRMLS
• 2006-05-25 Listing Removed — CBRMLS
• 2006-05-18 Listed $88,000 CBRMLS