2548 Hiawatha St · Columbus, OH 43211

$134,800

2 bd · 1.0 ba · 710 sqft · SingleFamily public records · 45 Days on market

Built 1900 4,791 sqft lot $190/sqft · 12% below area Est $153k · 12% under

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Why this score? — see what drove the D 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 +13.3/30.0
• ARV discount +12.9/15.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2548 Hiawatha St presents a well-balanced opportunity for both homeowners and investors seeking value, location, and long-term potential. It is an updated 2-bedroom + 1 bathroom home with newer appliances, granite countertops, LVP flooring, and a tiled shower. The natural light in the main living area creates an easy, everyday flow, while the kitchen is positioned to stay connected to the rest of the home without feeling crowded. Outside, the large yard adds another layer of potential with space for entertaining, gardening, or future improvements. It's the kind of property where you can move in and live comfortably while gradually adding your own touch over time. You will be close to downtown Columbus, with easy access to I-71, making commuting simple. Nearby parks, local schools, and neighborhood staples keep everyday life convenient, while being a short drive to areas like the Short North and Ohio State University. For buyers looking for an approachable price point without sacrificing proximity to the city--or investors looking for a solid rental opportunity, this is a property worth a closer look. Come walk through it in person and see how it fits your plans.

Key facts

• 4,791 sq ft lot
• Built 1900
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $1 ($7/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (20.4% below list).
• Recommended offer: $107k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Indianola Informal K-8 School (math 43% / reading 58%, grade D+, #896 of 1,584 statewide, top 57%, 684 students, 0% FRL); Dominion Middle School (math 39% / reading 50%, grade D, #477 of 654 statewide, top 74%, 717 students, 0% FRL); Whetstone High School (math 17% / reading 44%, grade F, #615 of 781 statewide, top 79%, 976 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.
• Zoned-school proficiency averages 42% at this address vs 20% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Columbus City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.4%/yr); 166 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 30% of the median local income ($43k/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 $932 of loan paydown is wiped out by about $4k 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 45 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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.
• Current owner paid $45k; list at $135k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,274 (20.4% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 10.5

CMA / ARV

• ARV (median comp): $153,077
• List price: $134,800
• Delta: -11.94%
• 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
2285 Atwood Ter	0.37mi	2/1.0	720 (+1%)	1mo	$136,140	$189	80
2495 Pontiac St	0.17mi	2/1.0	672 (-5%)	4mo	$105,000	$156	80
2593 Osceola Ave	0.20mi	2/1.0	672 (-5%)	3mo	$155,000	$231	79
2352 Hiawatha Park Dr	0.29mi	2/1.0	672 (-5%)	2mo	$98,500	$147	76
2214 Grasmere Ave	0.49mi	2/1.0	720 (+1%)	4mo	$130,000	$181	72
2311 Mcguffey Rd	0.39mi	2/1.0	672 (-5%)	3mo	$75,000	$112	71
2874 Grasmere Ave	0.53mi	2/1.0	732 (+3%)	2mo	$90,000	$123	68
792 Melrose Ave	0.61mi	2/1.0	720 (+1%)	2mo	$175,000	$243	67
2752 Azelda St	0.29mi	2/1.0	792 (+12%)	1mo	$150,000	$189	66
2776 Howey Rd	0.37mi	2/1.0	777 (+9%)	3mo	$139,900	$180	64
2762 Howey Rd	0.36mi	2/—	777 (+9%)	5mo	$140,000	$180	63
2906 Howey Rd	0.56mi	3/1.0 (+1)	816 (+15%)	4mo	$132,000	$162	41

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.43×
• Total profit: $-21,398
• Equity at exit: $20,099

10-year hold

• IRR: -6.9%
• Equity multiple: 0.55×
• Total profit: $-16,893
• Equity at exit: $11,655

Cash invested: $37,744 (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 43211

• Home prices YoY: -27.3%
• Rents YoY: 3.4%
• Active inventory: 166
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$707
• Tax from tax record: −$84 /mo · $1,006/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $1

Break-even live

Break-even rent $1,072

Max offer price $134,800

Occupancy floor 95%

Sensitivity live

Price	-10% $77	-5% $39	+0% $1	+5% $-38	+10% $-76
Rent	-10% $-84	-5% $-42	+0% $1	+5% $43	+10% $85
Rate	-1.0pp $68	-0.5pp $35	base $1	+0.5pp $-34	+1.0pp $-70

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: $33,700
• Closing costs: $4,044
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1046-1048 Republic Ave Columbus, OH	1.0	1.0	672	$875	$1.30	5d	1	0.19mi
2383 Hiawatha Park Dr Unit 2383 Columbus, OH	1.0	1.0	600	$1,100	$1.83	45d	1	0.24mi
2530 Beulah Rd Columbus, OH	2.0	1.0	720	$1,345	$1.87	16d	1	0.41mi
2236 Atwood Ter Columbus, OH	2.0	1.0	720	$900	$1.25	9d	1	0.44mi
2217 Grasmere Ave Columbus, OH	2.0	1.5	720	$1,650	$2.29	16d	1	0.46mi
2206 McGuffey Rd Columbus, OH	1.0	1.0	576	$770	$1.34	9d	1	0.51mi
870 Melrose Ave Columbus, OH	2.0	1.0	732	$1,345	$1.84	9d	1	0.58mi
358 E Duncan St Columbus, OH	1.0	1.0	550	$875	$1.59	45d	1	0.88mi
356 E Duncan St Columbus, OH	1.0	1.0	550	$900	$1.64	12d	1	0.88mi
1555 Myrtle Ave Columbus, OH	1.0	1.0	455	$600	$1.32	18d	1	0.90mi
464 E Norwich Ave Unit 474 A Columbus, OH	1.0	1.0	750	$850	$1.13	45d	1	0.93mi
460 E Norwich Ave Unit 460-C Columbus, OH	2.0	1.0	650	$1,025	$1.58	45d	1	0.93mi
450 E Norwich Ave Unit 450-C Columbus, OH	2.0	1.0	650	$995	$1.53	45d	1	0.93mi
1205 E 23rd Ave Columbus, OH	2.0	1.0	688	$1,050	$1.53	9d	1	0.94mi
2233 Summit St Unit C Columbus, OH	1.0	1.0	402	$1,225	$3.05	45d	1	0.96mi
2485 Deming Ave Unit 6 Columbus, OH	1.0	1.0	497	$900	$1.81	25d	1	0.96mi
1171 E 22nd Ave Unit 1171 Columbus, OH	2.0	1.0	750	$1,100	$1.47	19d	1	0.97mi
940 E North Broadway St Columbus, OH	1.0	1.0	650	$795	$1.22	45d	1	1.00mi
2688 Hibbert Ave Columbus, OH	2.0	1.0	748	$1,195	$1.60	45d	1	1.02mi
2505-2507 Cleveland Ave Unit F Columbus, OH	1.0	1.0	700	$1,100	$1.57	45d	1	1.10mi
184 E Duncan St Unit 184 Duncan-17 Columbus, OH	2.0	1.0	700	$1,025	$1.46	45d	1	1.10mi
1572 E Maynard Ave Unit 1580 Columbus, OH	1.0	1.0	441	$950	$2.15	25d	1	1.13mi
1500 E 25th Ave Columbus, OH	2.0	1.0	720	$850	$1.18	45d	1	1.15mi
1500 E 25th Ave Unit 2 Columbus, OH	2.0	1.0	720	$850	$1.18	25d	1	1.15mi
1900 N 4th St Unit 10 Columbus, OH	1.0	1.0	475	$745	$1.57	45d	1	1.21mi
454 E 16th Ave Unit A Columbus, OH	2.0	1.0	655	$1,000	$1.53	45d	1	1.25mi
2586 East Ave Columbus, OH	1.0	1.0	750	$875	$1.17	45d	1	1.27mi
1827 N 4th St Columbus, OH	1.0	1.0	660	$875	$1.33	16d	2	1.33mi
1827 N 4th St Unit 8 Columbus, OH	1.0	1.0	660	$900	$1.36	25d	1	1.33mi
2888 Cleveland Ave Unit F Columbus, OH	1.0	1.0	680	$825	$1.21	12d	1	1.33mi
2888 Cleveland Ave Unit D Columbus, OH	1.0	1.0	680	$825	$1.21	45d	1	1.33mi
29 Olentangy St Unit 29-B4 Columbus, OH	1.0	1.0	475	$950	$2.00	25d	1	1.37mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$925	$1.43	45d	1	1.40mi
1911 Denune Ave Columbus, OH	2.0	1.0	645	$795	$1.23	3d	1	1.40mi
3450 Indianola Ave Columbus, OH	2.0	1.0–2.0	877	$2,099	$2.39	45d	13	1.42mi
30 W Duncan St Columbus, OH	1.0	1.0	450	$785	$1.74	18d	1	1.42mi
348 E 14th Ave Unit E Columbus, OH	1.0	1.0	700	$875	$1.25	18d	1	1.42mi
2907 N High St Columbus, OH	2.0	1.0	806	$1,322	$1.64	45d	4	1.49mi

Listing history 22 events

1. 2026-06-08
   days on market $134,800 Active 45 DOM
2. 2026-06-07
   days on market $134,800 Active 44 DOM
3. 2026-06-05
   pricedays on market $134,800 Active 41 DOM
4. 2026-06-03
   days on market $139,000 Active 40 DOM
5. 2026-06-02
   days on market $139,000 Active 39 DOM
6. 2026-06-01
   days on market $139,000 Active 38 DOM
7. 2026-05-31
   days on market $139,000 Active 37 DOM
8. 2026-04-24
   listed $139,000 Active 1180-char remark

   Show marketing remark (1180 chars)

   2548 Hiawatha St presents a well-balanced opportunity for both homeowners and investors seeking value, location, and long-term potential. It is an updated 2-bedroom + 1 bathroom home with newer appliances, granite countertops, LVP flooring, and a tiled shower. The natural light in the main living area creates an easy, everyday flow, while the kitchen is positioned to stay connected to the rest of the home without feeling crowded. Outside, the large yard adds another layer of potential with space for entertaining, gardening, or future improvements. It's the kind of property where you can move in and live comfortably while gradually adding your own touch over time. You will be close to downtown Columbus, with easy access to I-71, making commuting simple. Nearby parks, local schools, and neighborhood staples keep everyday life convenient, while being a short drive to areas like the Short North and Ohio State University. For buyers looking for an approachable price point without sacrificing proximity to the city--or investors looking for a solid rental opportunity, this is a property worth a closer look. Come walk through it in person and see how it fits your plans.

9. 2026-04-22
   historical $139,000 1180-char remark

   Show marketing remark (1180 chars)

   2548 Hiawatha St presents a well-balanced opportunity for both homeowners and investors seeking value, location, and long-term potential. It is an updated 2-bedroom + 1 bathroom home with newer appliances, granite countertops, LVP flooring, and a tiled shower. The natural light in the main living area creates an easy, everyday flow, while the kitchen is positioned to stay connected to the rest of the home without feeling crowded. Outside, the large yard adds another layer of potential with space for entertaining, gardening, or future improvements. It's the kind of property where you can move in and live comfortably while gradually adding your own touch over time. You will be close to downtown Columbus, with easy access to I-71, making commuting simple. Nearby parks, local schools, and neighborhood staples keep everyday life convenient, while being a short drive to areas like the Short North and Ohio State University. For buyers looking for an approachable price point without sacrificing proximity to the city--or investors looking for a solid rental opportunity, this is a property worth a closer look. Come walk through it in person and see how it fits your plans.

10. 2025-04-26
    historical $1,225
11. 2025-04-22
    listed $1,225
12. 2025-04-22
    historical $1,225
13. 2025-03-29
    price $1,225
14. 2025-03-19
    price $1,250
15. 2025-03-16
    listed $1,350
16. 2019-05-14
    soldstatus $45,000
17. 2019-05-06
    soldstatus $45,000 Closed 142-char remark

    Show marketing remark (142 chars)

    This 2 bedroom home needs some cosmetic updates. Ideal as a starter home or investment property. One floor plan with first floor laundry room.

18. 2019-04-12
    status Pending 142-char remark

    Show marketing remark (142 chars)

    This 2 bedroom home needs some cosmetic updates. Ideal as a starter home or investment property. One floor plan with first floor laundry room.

19. 2019-04-09
    listed $32,500 Active 142-char remark

    Show marketing remark (142 chars)

    This 2 bedroom home needs some cosmetic updates. Ideal as a starter home or investment property. One floor plan with first floor laundry room.

20. 2018-04-13
    soldstatus $30,000 Closed
21. 2018-03-29
    historical Contingent Finance and Inspection
22. 2018-03-23
    listed $30,000 Active

ⓘ 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: $1,006 · $84/mo
• Projected year-2 tax: $1,554 · $130/mo
• Expected delta: +$549/yr (+$46/mo · 54.5%)

ⓘ 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 3/10 Moderate 6 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $12,873
• − Mortgage interest: −$7,551
• − Property taxes: −$1,006
• − Insurance: −$674
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$3,921
• Taxable loss: −$2,339
• Est. tax savings @ 24.0%: +$561
• After-tax cash flow: $568/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): 22,313
• Household income: $42,579
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1282.0

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 0.60)
• Race & ethnicity: Black 58% White 21% Hispanic / Latino 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 8% Dominican 1%
• Common ancestry: Italian 1%
• Foreign-born: 10% · Canada, India
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 2% Arabic 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: ▼ -94.10%
• Current HPI: 250.3885
• Rent YoY: ▲ 3.41%
• 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

+363.3% since first listed

15 events — show timeline

• 2026-04-24 Listed $139,000 CBRMLS
• 2026-04-22 Coming Soon $139,000 CBRMLS
• 2025-04-26 Rental Removed $1,225 APPFOLIO
• 2025-04-22 Listed for Rent $1,225 APPFOLIO
• 2025-04-22 Rental Removed $1,225 ZUMPER1
• 2025-03-29 Price Changed $1,225 ZUMPER1
• 2025-03-19 Price Changed $1,250 ZUMPER1
• 2025-03-16 Listed for Rent $1,350 ZUMPER1
• 2019-05-14 Sold (Public Records) $45,000 Public Records
• 2019-05-06 Sold (MLS) $45,000 CBRMLS
• 2019-04-12 Pending — CBRMLS
• 2019-04-09 Listed $32,500 CBRMLS
• 2018-04-13 Sold (MLS) $30,000 CBRMLS
• 2018-03-29 Contingent — CBRMLS
• 2018-03-23 Listed $30,000 CBRMLS

Property tax history

+0.7%/yr

Latest (2024): $1,006 · +1.3% YoY. Source: county tax records.