509 Helen St · Columbus, OH 43223

$139,800

2 bd · 1.0 ba · 907 sqft · SingleFamily public records · 1 Days on market

Built 1927 3,920 sqft lot $154/sqft · 11% above area Est $166k · 16% under

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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 +16.5/30.0
• ARV discount +14.6/15.0
• DSCR +5.1/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Investment Opportunity for the right buyer! Just recently vacated, the bones are good and ready for you to remodel. Comps in the area are $150k to $175k so this would make a great flip opportunity or a excellent rental with rent rates in the area at around $1200 a month. In need of TLC, this home would be perfect for supplemental income! 2 Bed, 1 Bath, original hardwood flooring, basement and decent sized yard with a fenced in backyard. Call your agent to come take a look today!

Key facts

• Great storage
• Close to restaurants
• Daily conveniences

Tags

• UPDATED KITCHEN
• GREAT STORAGE
• HOBBY SPACE
• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING
• DAILY CONVENIENCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $83 ($996/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 $124k (11.5% below list).
• Recommended offer: $124k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• This rent runs 32% of the median local income ($47k/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 $967 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $140k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,746 (11.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

• ARV (median comp): $165,939
• List price: $139,800
• Delta: -15.75%
• 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
436 Catherine St	0.12mi	2/1.0	960 (+6%)	3mo	$65,000	$68	82
1476 Thomas Ave	0.30mi	2/1.0	978 (+8%)	3mo	$150,000	$153	71
1819 Ransburg Ave	0.61mi	3/1.0 (+1)	900 (-1%)	1mo	$150,000	$167	64
635 Clark Ave	0.34mi	2/1.0	997 (+10%)	4mo	$172,500	$173	64
1849 Ransburg Ave	0.61mi	2/1.0	900 (-1%)	9mo	$187,000	$208	63
510 Belvidere Ave	0.54mi	2/1.0	820 (-10%)	2mo	$124,900	$152	57
299 Whitethorne Ave	0.73mi	2/1.0	959 (+6%)	2mo	$65,000	$68	55
1958 W Mound St	0.45mi	3/1.0 (+1)	844 (-7%)	11mo	$160,000	$190	53
151 Columbian Ave	0.59mi	3/1.0 (+1)	1,012 (+12%)	2mo	$146,500	$145	47
1617 Ransburg Ave	0.71mi	3/1.0 (+1)	825 (-9%)	2mo	$200,000	$242	45
509 Belvidere Ave	0.57mi	3/2.0 (+1)	990 (+9%)	6mo	$192,500	$194	44
1860 Rosemont Ave	0.71mi	1/2.0 (-1)	930 (+2%)	11mo	$135,000	$145	44

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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-15,354
• Equity at exit: $20,845

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,973
• Equity at exit: $12,087

Cash invested: $39,144 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$733
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $83

Break-even live

Break-even rent $1,132

Max offer price $139,800

Occupancy floor 88%

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: $34,950
• Closing costs: $4,194
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Helen St Columbus, OH	2.0	1.0	840	$1,200	$1.43	43d	1	0.01mi
436 Catherine St Columbus, OH	2.0	1.5	960	$1,300	$1.35	7d	1	0.08mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	14d	1	0.09mi
432 Catherine St Columbus, OH	3.0	1.0	1073	$1,325	$1.23	12d	1	0.09mi
1485 Walsh Ave Columbus, OH	2.0	1.0	720	$1,450	$2.01	23d	1	0.26mi
1773 W Mound St Unit 1803 Columbus, OH	1.0	1.0	700	$925	$1.32	43d	1	0.29mi
1773 W Mound St Unit 1799 Columbus, OH	1.0	1.0	700	$900	$1.29	43d	1	0.29mi
287 S Central Ave Unit 285 Columbus, OH	1.0	1.0	704	$870	$1.24	17d	1	0.45mi
1928-1930 Vaughn St Unit 1928 Columbus, OH	2.0	1.0	919	$957	$1.04	43d	1	0.50mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	19d	1	0.56mi
190 Nashoba Ave Columbus, OH	2.0	1.0	1030	$1,450	$1.41	12d	1	0.56mi
1287 Sullivant Ave Unit 3 Columbus, OH	2.0	1.0	650	$1,250	$1.92	23d	1	0.57mi
1287 Sullivant Ave Unit 1 Columbus, OH	2.0	1.0	650	$1,200	$1.85	23d	1	0.57mi
108 Columbian Ave Unit B Columbus, OH	2.0	1.0	820	$900	$1.10	7d	1	0.60mi
120 S Central Ave Columbus, OH	1.0–3.0	1.0–2.0	944	$912	$0.97	14d	12	0.66mi
142 Dana Ave Unit 142 Columbus, OH	2.0	1.0	700	$825	$1.18	43d	1	0.70mi
411 S Yale Ave Columbus, OH	2.0	1.0	784	$1,425	$1.82	43d	1	0.72mi
87-89 Dana Ave Columbus, OH	2.0	1.0	948	$1,100	$1.16	21d	1	0.74mi
2174 Sullivant Ave Columbus, OH	1.0	1.0	800	$775	$0.97	43d	1	0.75mi
791-793 Butler Ave Unit 791 Columbus, OH	3.0	1.0	1000	$1,395	$1.40	3d	1	0.75mi
2203 Clarendon Ln Unit 2203 Columbus, OH	2.0	1.0	835	$1,000	$1.20	12d	1	0.77mi
1963 W Broad St Apt 8 Columbus, OH	1.0	1.0	600	$820	$1.37	23d	1	0.78mi
2157 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.81mi
2167 W Mound St Unit C Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.83mi
85 Stevens Ave Columbus, OH	2.0	1.0	816	$995	$1.22	43d	1	0.84mi
2173 W Mound St Unit A Columbus, OH	2.0	1.0	825	$900	$1.09	43d	1	0.85mi
257 Clarendon Ave Unit 257,259,261,263 Columbus, OH	2.0	1.0	1000	$1,200	$1.20	43d	1	0.87mi
73 Hayden Ave Columbus, OH	2.0	1.0	894	$1,350	$1.51	7d	1	0.91mi
100 N Central Ave Columbus, OH	2.0	1.0	932	$1,043	$1.12	43d	1	0.92mi
185 S Cypress Ave Columbus, OH	2.0	1.0	1104	$1,695	$1.54	43d	1	0.94mi
664 S Wheatland Ave Unit 1 Columbus, OH	1.0	1.0	700	$895	$1.28	12d	1	0.96mi
1137 W Broad St Columbus, OH	1.0–2.0	1.0	770	$1,860	$2.42	43d	1	0.98mi
170 S Highland Ave Columbus, OH	2.0	1.0	950	$895	$0.94	43d	1	0.99mi
163 N Central Ave Columbus, OH	2.0	2.5	1100	$1,650	$1.50	43d	1	0.99mi
685 S Wheatland Ave Columbus, OH	1.0	1.0	640	$850	$1.33	43d	1	1.00mi
735 Canonby Pl Apt B Columbus, OH	3.0	1.5	950	$1,095	$1.15	19d	1	1.06mi
548 S Wayne Ave Columbus, OH	3.0	1.0	1008	$1,225	$1.22	19d	1	1.07mi
731 Canonby Pl Unit B Columbus, OH	3.0	1.5	950	$1,095	$1.15	43d	1	1.09mi
717 Canonby Pl Unit B Columbus, OH	3.0	1.5	950	$1,095	$1.15	43d	1	1.09mi
1475 Stimmel Rd Columbus, OH	1.0–4.0	1.0	868	$1,205	$1.39	16d	1	1.10mi

Listing history 31 events

1. 2026-06-19
   days on marketlisting id $139,800 Active 1 DOM
2. 2026-06-09
   days on market $139,800 Active 170 DOM
3. 2026-06-08
   days on market $139,800 Active 169 DOM
4. 2026-06-07
   days on market $139,800 Active 168 DOM
5. 2026-06-05
   days on market $139,800 Active 165 DOM
6. 2026-06-03
   days on market $139,800 Active 164 DOM
7. 2026-06-02
   days on market $139,800 Active 163 DOM
8. 2026-06-01
   days on market $139,800 Active 162 DOM
9. 2026-05-31
   statusdays on market $139,800 Active 161 DOM
10. 2026-05-19
    historical
11. 2026-04-28
    status Active
12. 2026-03-24
    historical Contingent
13. 2026-03-13
    price $139,800
14. 2026-02-12
    price $140,800
15. 2026-02-05
    price $142,800
16. 2026-01-30
    price $143,800
17. 2026-01-22
    price $144,800
18. 2026-01-16
    price $149,800
19. 2026-01-10
    price $152,900
20. 2026-01-03
    price $154,900
21. 2025-12-27
    price $160,900
22. 2025-12-21
    price $162,900
23. 2025-12-10
    listed $164,900 Active
24. 2024-11-21
    soldstatus $80,000 Closed 493-char remark

    Show marketing remark (493 chars)

    Excellent Investment Opportunity for the right buyer! Just recently vacated, the bones are good and ready for you to remodel. Comps in the area are $150k to $175k so this would make a great flip opportunity or a excellent rental with rent rates in the area at around $1200 a month. In need of TLC, this home would be perfect for supplemental income! 2 Bed, 1 Bath, original hardwood flooring, basement and decent sized yard with a fenced in backyard. Call your agent to come take a look today!

25. 2024-10-05
    historical Contingent Finance and Inspection 493-char remark

    Show marketing remark (493 chars)

    Excellent Investment Opportunity for the right buyer! Just recently vacated, the bones are good and ready for you to remodel. Comps in the area are $150k to $175k so this would make a great flip opportunity or a excellent rental with rent rates in the area at around $1200 a month. In need of TLC, this home would be perfect for supplemental income! 2 Bed, 1 Bath, original hardwood flooring, basement and decent sized yard with a fenced in backyard. Call your agent to come take a look today!

26. 2024-09-27
    listed $89,888 Active 493-char remark

    Show marketing remark (493 chars)

    Excellent Investment Opportunity for the right buyer! Just recently vacated, the bones are good and ready for you to remodel. Comps in the area are $150k to $175k so this would make a great flip opportunity or a excellent rental with rent rates in the area at around $1200 a month. In need of TLC, this home would be perfect for supplemental income! 2 Bed, 1 Bath, original hardwood flooring, basement and decent sized yard with a fenced in backyard. Call your agent to come take a look today!

27. 2024-09-26
    historical $89,888 493-char remark

    Show marketing remark (493 chars)

    Excellent Investment Opportunity for the right buyer! Just recently vacated, the bones are good and ready for you to remodel. Comps in the area are $150k to $175k so this would make a great flip opportunity or a excellent rental with rent rates in the area at around $1200 a month. In need of TLC, this home would be perfect for supplemental income! 2 Bed, 1 Bath, original hardwood flooring, basement and decent sized yard with a fenced in backyard. Call your agent to come take a look today!

28. 2005-09-15
    soldstatus $27,500
29. 2005-08-02
    historical
30. 2005-01-14
    listed $25,600
31. 1991-09-03
    soldstatus $37,500

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $1,710 · $142/mo
• Expected delta: +$471/yr (+$39/mo · 38.1%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,850
• − Mortgage interest: −$7,831
• − Property taxes: −$1,238
• − Insurance: −$699
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$4,067
• Taxable loss: −$1,362
• Est. tax savings @ 24.0%: +$327
• After-tax cash flow: $1,323/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): 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

+272.8% since first listed

22 events — show timeline

• 2026-05-19 Listing Removed — CBRMLS
• 2026-04-28 Relisted — CBRMLS
• 2026-03-24 Contingent — CBRMLS
• 2026-03-13 Price Changed $139,800 CBRMLS
• 2026-02-12 Price Changed $140,800 CBRMLS
• 2026-02-05 Price Changed $142,800 CBRMLS
• 2026-01-30 Price Changed $143,800 CBRMLS
• 2026-01-22 Price Changed $144,800 CBRMLS
• 2026-01-16 Price Changed $149,800 CBRMLS
• 2026-01-10 Price Changed $152,900 CBRMLS
• 2026-01-03 Price Changed $154,900 CBRMLS
• 2025-12-27 Price Changed $160,900 CBRMLS
• 2025-12-21 Price Changed $162,900 CBRMLS
• 2025-12-10 Listed $164,900 CBRMLS
• 2024-11-21 Sold (MLS) $80,000 CBRMLS
• 2024-10-05 Contingent — CBRMLS
• 2024-09-27 Listed $89,888 CBRMLS
• 2024-09-26 Coming Soon $89,888 CBRMLS
• 2005-09-15 Sold (MLS) $27,500 CBRMLS
• 2005-08-02 Listing Removed — CBRMLS
• 2005-01-14 Listed $25,600 CBRMLS
• 1991-09-03 Sold (Public Records) $37,500 Public Records

Property tax history

-2.8%/yr

Latest (2024): $1,238 · -25.1% YoY. Source: county tax records.