540 - 542 S Oakley Ave · Columbus, OH 43204

$239,900

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 112 Days on market

Built 1926 5,662 sqft lot $122/sqft · 14% above area Est $211k · 14% over

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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 +18.9/30.0
• DSCR +6.0/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +1.4/15.0
• 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

This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

Key facts

• Remodeled kitchens
• Updated windows
• New hvac systems

Tags

• REMODELED KITCHENS
• NEW CABINETS
• NEW COUNTERTOPS
• NEW APPLIANCES
• NEW HVAC SYSTEMS
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive. Per door: $124/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 $229k (4.5% below list).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $2,292/mo this rent would consume 46% 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 $2k of loan paydown is wiped out by about $7k 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 112 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y 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 $106k; list at $240k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% 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 1926 — 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. 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?
9. 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.
10. 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.
11. 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: 0.96% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 8.7

CMA / ARV

• ARV (median comp): $211,077
• List price: $239,900
• Delta: 13.66%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610-612 S Warren Ave	0.46mi	4/—	2,016 (+3%)	8mo	$215,000	$107	67
361 S Harris Ave #361	0.61mi	5/— (+1)	1,890 (-4%)	1mo	$180,000	$95	59
600 S Warren Ave #602	0.46mi	4/—	2,016 (+3%)	22mo	$200,000	$99	56
223 S Wayne Ave	0.46mi	4/—	1,860 (-5%)	24mo	$263,000	$141	50
1986-1988 Vaughn St	0.62mi	4/—	1,700 (-13%)	20mo	$215,500	$127	32

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-19,640
• Equity at exit: $35,770

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $17,860
• Equity at exit: $20,742

Cash invested: $67,172 (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: 17.4×

Monthly cashflow live

• Estimated rent: $2,292 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$205 /mo · $2,461/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $248

Break-even live

Break-even rent $1,979

Max offer price $239,900

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,292
Total (2 units)			$2,292

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
695 S Eureka Ave Columbus, OH	3.0	1.0	1344	$1,425	$1.06	21d	1	0.23mi
692 S Wheatland Ave Columbus, OH	3.0	1.0	1608	$1,547	$0.96	43d	1	0.23mi
2205 Sullivant Ave Columbus, OH	3.0	1.0	1275	$1,200	$0.94	43d	1	0.27mi
2676 Sullivant Ave Columbus, OH	3.0	1.0	1524	$1,200	$0.79	43d	1	0.43mi
2709-2711 Sullivant Ave Unit 2709 Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	0.47mi
2709-2711 Sullivant Ave Columbus, OH	3.0	2.0	1344	$1,380	$1.03	3d	1	0.47mi
1964 Sullivant Ave Columbus, OH	4.0	2.0	1580	$1,650	$1.04	23d	1	0.63mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,475	$1.17	20d	1	0.72mi
95-97 Whitethorne Ave Columbus, OH	3.0	1.5	1260	$1,375	$1.09	3d	1	0.72mi
41 S Oakley Ave Columbus, OH	3.0	1.5	1428	$1,550	$1.09	43d	1	0.73mi
543 Woodbury Ave Unit NA Columbus, OH	3.0	1.0	1308	$1,645	$1.26	14d	1	0.77mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	43d	1	0.82mi
80 S Warren Ave Columbus, OH	3.0	1.0	1258	$1,345	$1.07	3d	1	0.82mi
92 S Hague Ave Columbus, OH	3.0	2.0	1456	$1,400	$0.96	23d	1	0.87mi
133 N Eureka Ave Columbus, OH	3.0	1.0	1484	$1,350	$0.91	12d	1	1.00mi
43 N Roys Ave Columbus, OH	3.0	1.5	1332	$1,599	$1.20	23d	1	1.18mi
2745-2747 Steele Ave Columbus, OH	3.0	1.0	2128	$1,200	$0.56	43d	1	1.19mi
130 N Roys Ave Columbus, OH	3.0	1.0	1380	$1,595	$1.16	2d	1	1.27mi
394 S Guilford Ave Columbus, OH	3.0	1.5	1404	$1,450	$1.03	7d	1	1.36mi
1417 Fahy Dr Columbus, OH	3.0	2.0	1932	$2,345	$1.21	10d	1	1.46mi
63 Stevens Ave Columbus, OH	5.0	2.0	2437	$2,000	$0.82	7d	1	1.49mi

Listing history 33 events

1. 2026-06-13
   days on market $239,900 Active 112 DOM
2. 2026-06-13
   days on market $239,900 Active 111 DOM
3. 2026-06-09
   days on market $239,900 Active 108 DOM
4. 2026-06-08
   days on market $239,900 Active 107 DOM
5. 2026-06-07
   days on market $239,900 Active 106 DOM
6. 2026-06-05
   days on market $239,900 Active 103 DOM
7. 2026-06-03
   days on market $239,900 Active 102 DOM
8. 2026-06-02
   days on market $239,900 Active 101 DOM
9. 2026-06-01
   days on market $239,900 Active 100 DOM
10. 2026-05-31
    days on market $239,900 Active 99 DOM
11. 2026-04-24
    price $239,900 796-char remark

    Show marketing remark (796 chars)

    This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

12. 2026-03-29
    status Active 796-char remark

    Show marketing remark (796 chars)

    This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

13. 2026-03-19
    historical Contingent 796-char remark

    Show marketing remark (796 chars)

    This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

14. 2026-03-01
    status Active 796-char remark

    Show marketing remark (796 chars)

    This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

15. 2026-02-26
    historical Contingent 796-char remark

    Show marketing remark (796 chars)

    This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

16. 2026-02-21
    listed $249,900 Active 796-char remark

    Show marketing remark (796 chars)

    This well-maintained duplex offers the perfect blend of modern updates and reliable income. Please do not disturb Tenants -Each side features 2 bedrooms and 1 full bath, with thoughtful renovations completed in 2022 including remodeled kitchens with new cabinets, countertops, and appliances. Major improvements also include new HVAC systems and updated windows. Both units are currently leased at $1280 month-to-month, making this a truly turnkey opportunity from day one. Conveniently located with easy access to public transportation, shopping, dining, schools, and everyday amenities. Whether you're expanding your portfolio or looking for a low-maintenance income property, this duplex offers steady returns and long-term value. A smart addition to any investment strategy. CURB OFFERS ONLY.

17. 2023-10-17
    historical
18. 2022-01-26
    soldstatus $106,000 Closed 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

19. 2022-01-02
    historical Contingent Finance and Inspection 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

20. 2021-12-20
    status Active 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

21. 2021-12-01
    status Pending 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

22. 2021-10-02
    status Active 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

23. 2021-09-30
    historical Contingent Finance and Inspection 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

24. 2021-09-20
    status Active 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

25. 2021-09-13
    historical Contingent Finance and Inspection 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

26. 2021-09-10
    listed $129,900 Active 102-char remark

    Show marketing remark (102 chars)

    Long term month to month tenants. One side paying $615 and the other $585 per month. Curb offers only.

27. 2009-08-21
    soldstatus $9,300
28. 2009-07-28
    historical
29. 2009-02-06
    listed $9,300
30. 2006-11-14
    soldstatus $85,000
31. 2001-11-20
    soldstatus $61,500
32. 1990-09-18
    soldstatus $35,502
33. 1987-05-15
    soldstatus $26,494

ⓘ 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: $2,461 · $205/mo
• Projected year-2 tax: $3,101 · $258/mo
• Expected delta: +$641/yr (+$53/mo · 26.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $27,504
• − Mortgage interest: −$13,438
• − Property taxes: −$2,461
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − Depreciation: −$6,979
• Taxable loss: −$974
• Est. tax savings @ 24.0%: +$234
• After-tax cash flow: $3,205/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

+805.5% since first listed

23 events — show timeline

• 2026-04-24 Price Changed $239,900 CBRMLS
• 2026-03-29 Relisted — CBRMLS
• 2026-03-19 Contingent — CBRMLS
• 2026-03-01 Relisted — CBRMLS
• 2026-02-26 Contingent — CBRMLS
• 2026-02-21 Listed $249,900 CBRMLS
• 2023-10-17 Rental Removed — APPFOLIO
• 2022-01-26 Sold (MLS) $106,000 CBRMLS
• 2022-01-02 Contingent — CBRMLS
• 2021-12-20 Relisted — CBRMLS
• 2021-12-01 Pending — CBRMLS
• 2021-10-02 Relisted — CBRMLS
• 2021-09-30 Contingent — CBRMLS
• 2021-09-20 Relisted — CBRMLS
• 2021-09-13 Contingent — CBRMLS
• 2021-09-10 Listed $129,900 CBRMLS
• 2009-08-21 Sold (MLS) $9,300 CBRMLS
• 2009-07-28 Listing Removed — CBRMLS
• 2009-02-06 Listed $9,300 CBRMLS
• 2006-11-14 Sold (Public Records) $85,000 Public Records
• 2001-11-20 Sold (Public Records) $61,500 Public Records
• 1990-09-18 Sold (Public Records) $35,502 Public Records
• 1987-05-15 Sold (Public Records) $26,494 Public Records

Property tax history

+10.2%/yr

Latest (2024): $2,461 · -4.6% YoY. Source: county tax records.