3252-3254 Sullivant Ave · Columbus, OH 43204

$170,900

4 bd · 3.0 ba · 1,848 sqft · MultiFamily public records · 43 Days on market

Built 1954 5,662 sqft lot $92/sqft · 31% below area Est $248k · 31% under

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Why this score? — see what drove the B 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Solid brick double offering 2 units with 2 bedrooms and 1 full bathroom per unit. 2 Car detached garage backs to alley. Needs work / TLC and priced accordingly. To be sold as is.

Key facts

• 5,662 sq ft lot
• 2 parking spots
• Built 1954

Property features AI

Finance

• Financial info: Property listed as Real Estate Owned

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Storm sewer
• Home design: Duplex property; Built in 1954
• Exterior features: Lot in Westgate Park subdivision; Cross street: S Sylvan Ave

Interior

• Interior features: Duplex (two residential units)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $171k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive. Per door: $272/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• Recommended offer: $166k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $2,328/mo this rent would consume 47% 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 $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 $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $103k; list at $171k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,773 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.64%
• DSCR: 1.61
• GRM: 6.1

CMA / ARV

• ARV (median comp): $247,539
• List price: $170,900
• Delta: -30.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3300-3302 Sullivant Ave	0.07mi	4/—	1,848 (0%)	4mo	$192,000	$104	93
639 Derrer Rd	0.34mi	4/—	1,684 (-9%)	4mo	$145,000	$86	66
3468 Race St	0.32mi	4/—	1,706 (-8%)	13mo	$265,000	$155	61
3476-3478 Race St	0.33mi	4/—	1,706 (-8%)	15mo	$245,000	$144	59
970 Salisbury Rd	0.67mi	4/—	1,792 (-3%)	9mo	$221,000	$123	56
259 S Sylvan Ave	0.31mi	4/—	2,118 (+15%)	15mo	$259,000	$122	49
3614 Eakin Rd	0.56mi	5/— (+1)	1,673 (-10%)	14mo	$207,000	$124	41
885-887 Derrer Rd	0.61mi	5/— (+1)	1,667 (-10%)	11mo	$230,000	$138	41
255 S Chase Ave	0.65mi	4/—	2,020 (+9%)	18mo	$245,000	$121	39
423 S Hague Ave	0.66mi	3/— (-1)	1,594 (-14%)	4mo	$168,000	$105	38
886 Derrer Rd	0.60mi	5/— (+1)	1,667 (-10%)	17mo	$216,900	$130	36
868-870 Wiltshire Rd	0.70mi	4/—	1,584 (-14%)	11mo	$257,500	$163	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: 5.6%
• Equity multiple: 1.22×
• Total profit: $10,588
• Equity at exit: $25,482

10-year hold

• IRR: 16.4%
• Equity multiple: 2.45×
• Total profit: $69,228
• Equity at exit: $14,776

Cash invested: $47,852 (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: 12.2×

Monthly cashflow live

• Estimated rent: $2,328 high
• Mortgage (P&I): −$896
• Tax from tax record: −$328 /mo · $3,935/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $544

Break-even live

Break-even rent $1,640

Max offer price $170,900

Occupancy floor 72%

Sensitivity live

Price	-10% $641	-5% $592	+0% $544	+5% $495	+10% $447
Rent	-10% $360	-5% $452	+0% $544	+5% $636	+10% $728
Rate	-1.0pp $630	-0.5pp $587	base $544	+0.5pp $500	+1.0pp $454

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,328
Total (2 units)			$2,328

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: $42,725
• Closing costs: $5,127
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	0.80mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	0.80mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	44d	1	0.85mi
1241 Riegelwood Ln Columbus, OH	4.0	3.0	1868	$2,480	$1.33	2d	1	0.95mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	24d	1	0.96mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	24d	1	0.97mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	4d	1	1.06mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	44d	1	1.06mi
130 N Roys Ave Columbus, OH	3.0	1.0	1380	$1,595	$1.16	2d	1	1.09mi
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	22d	1	1.19mi
2745-2747 Steele Ave Columbus, OH	3.0	1.0	2128	$1,200	$0.56	44d	1	1.22mi
1433 Tall Meadows Dr Columbus, OH	3.0	1.5	1428	$1,995	$1.40	13d	1	1.24mi
1369 Greenock Rd Columbus, OH	4.0	2.5	1680	$2,031	$1.21	24d	1	1.30mi
3735 Gairlock Dr Columbus, OH	3.0	2.0	1329	$1,905	$1.43	24d	1	1.41mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	44d	1	1.41mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	44d	1	1.44mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	13d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $170,900 Active 43 DOM
2. 2026-06-17
   days on market $170,900 Active 42 DOM
3. 2026-06-16
   days on market $170,900 Active 41 DOM
4. 2026-06-15
   days on market $170,900 Active 40 DOM
5. 2026-06-13
   days on market $170,900 Active 38 DOM
6. 2026-06-13
   days on market $170,900 Active 37 DOM
7. 2026-06-09
   days on market $170,900 Active 34 DOM
8. 2026-06-08
   days on market $170,900 Active 33 DOM
9. 2026-06-07
   pricedays on market $170,900 Active 32 DOM
10. 2026-06-05
    days on market $180,900 Active 29 DOM
11. 2026-06-03
    days on market $180,900 Active 28 DOM
12. 2026-06-02
    days on market $180,900 Active 27 DOM
13. 2026-06-01
    days on market $180,900 Active 26 DOM
14. 2026-05-31
    days on market $180,900 Active 25 DOM
15. 2026-05-06
    listed $180,900 Active 178-char remark
16. 2018-09-13
    historical
17. 2018-09-05
    price $148,500
18. 2018-08-21
    price $158,500
19. 2018-04-12
    listed $163,500 Active
20. 2007-04-30
    historical
21. 2006-08-08
    listed $132,500
22. 2006-03-15
    soldstatus $102,900

ⓘ 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: $3,935 · $328/mo
• Projected year-2 tax: $3,935 · $328/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,936
• − Mortgage interest: −$9,573
• − Property taxes: −$3,935
• − Insurance: −$854
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − Depreciation: −$4,972
• Taxable income: $4,132
• Est. tax owed @ 24.0%: −$992
• After-tax cash flow: $5,534/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

+66.1% since first listed

9 events — show timeline

• 2026-06-05 Price Changed $170,900 CBRMLS
• 2026-05-06 Listed $180,900 CBRMLS
• 2018-09-13 Listing Removed — CBRMLS
• 2018-09-05 Price Changed $148,500 CBRMLS
• 2018-08-21 Price Changed $158,500 CBRMLS
• 2018-04-12 Listed $163,500 CBRMLS
• 2007-04-30 Listing Removed — CBRMLS
• 2006-08-08 Listed $132,500 CBRMLS
• 2006-03-15 Sold (Public Records) $102,900 Public Records

Property tax history

+1.5%/yr

Latest (2024): $3,935 · -9.3% YoY. Source: county tax records.