384-386 N Garfield Ave · Columbus, OH 43203

$355,000

8 bd · 4.0 ba · 3,923 sqft · MultiFamily public records · 3 Days on market

Built 1890 5,662 sqft lot Est $663k · 46% 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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• 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 MLS

Duplex, both sides are 3 stories, 4 bedrooms, 1.5 baths with private off street parking in the rear! The exterior features new concrete front porch steps and underground downspout pipes! More square footage than most duplexes in the King-Lincoln District at just under 4000 SF! 386 is renovated and vacant for easy showings. Easily add an additional full bath! Updated interior including refinished hardwood floors, LVP in kitchen and baths, freshly painted, new carpet, updated lighting and electrical, new hot water tank and furnace, new vanities, new toilets, lower kitchen cabinets and countertop, appliances convey. 384 is occupied. Please do not disturb the tenants. Brand new electric panel! Great for owner occupant, condo conversion or a fast lease up after closing!

Key facts

• Currently leased
• Quick lease-up
• Vacant unit

Tags

• PRIVATE OFF-STREET PARKING
• PROFESSIONALLY MANAGED
• IMPROVEMENTS COMPLETED
• CURRENTLY LEASED
• VACANT UNIT
• QUICK LEASE-UP

Property features AI

Finance

• Financial info: Annual property tax: $5,001 (2024)

Exterior

• Home design: Built in 1890; Property type: Duplex
• Construction: Original construction from 1890
• Exterior features: 0.13-acre lot

Interior

• Interior features: Duplex (two-unit building)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $355k.

Deal economics

• At list price, monthly cash flow is $664 ($8k/yr) — positive. Per door: $332/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $355k).
• Cap rate 8.5% 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 (+5.0%/yr); 95 active listings in the ZIP; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).
• At $3,912/mo this rent would consume 99% of the median local household income ($48k/yr) (locally 859% 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 $11k 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 + 5.0% rent growth), your $99k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $355,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.10% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.02%
• DSCR: 1.36
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $662,987
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1190-1196 E Long St	0.59mi	8/—	3,432 (-12%)	11mo	$580,000	$169	43

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-7,032
• Equity at exit: $52,932

10-year hold

• IRR: 9.9%
• Equity multiple: 1.84×
• Total profit: $83,385
• Equity at exit: $30,694

Cash invested: $99,400 (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 43203

• Home prices YoY: -31.9%
• Rents YoY: 5.0%
• Active inventory: 95
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,912 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$417 /mo · $5,001/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $664

Break-even live

Break-even rent $3,071

Max offer price $355,000

Occupancy floor 78%

Sensitivity live

Price	-10% $865	-5% $765	+0% $664	+5% $564	+10% $463
Rent	-10% $355	-5% $510	+0% $664	+5% $819	+10% $973
Rate	-1.0pp $843	-0.5pp $754	base $664	+0.5pp $572	+1.0pp $479

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,912
Total (2 units)			$3,912

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $355,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $355,000 Active 1 DOM

ⓘ 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: $5,001 · $417/mo
• Projected year-2 tax: $5,270 · $439/mo
• Expected delta: +$268/yr (+$22/mo · 5.4%)

ⓘ 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 · 17 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,944
• − Mortgage interest: −$19,886
• − Property taxes: −$5,001
• − Insurance: −$1,775
• − Repairs & maintenance: −$3,756
• − Management: −$3,756
• − Depreciation: −$10,327
• Taxable income: $2,444
• Est. tax owed @ 24.0%: −$587
• After-tax cash flow: $7,383/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): 8,618
• Household income: $47,572
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 859.0

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 0.56)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Lithuanian 1% Romanian 1% Swiss 1%
• Foreign-born: 12% · Canada
• Languages at home: 86% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 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: ▼ -102.09%
• Current HPI: 217.3929
• Rent YoY: ▲ 5.03%
• 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

+1320.0% since first listed

23 events — show timeline

• 2026-06-18 Listed $355,000 CBRMLS
• 2023-09-22 Sold (MLS) $330,288 CBRMLS
• 2023-09-12 Pending — CBRMLS
• 2023-08-17 Contingent — CBRMLS
• 2023-08-15 Price Changed $344,900 CBRMLS
• 2023-08-07 Relisted — CBRMLS
• 2023-05-23 Contingent — CBRMLS
• 2023-04-27 Price Changed $349,900 CBRMLS
• 2023-03-14 Price Changed $359,000 CBRMLS
• 2023-02-03 Price Changed $364,000 CBRMLS
• 2022-12-16 Relisted — CBRMLS
• 2022-12-07 Contingent — CBRMLS
• 2022-11-12 Price Changed $369,000 CBRMLS
• 2022-10-28 Price Changed $374,000 CBRMLS
• 2022-10-01 Listed $379,000 CBRMLS
• 2018-10-10 Sold (Public Records) $160,000 Public Records
• 2009-08-11 Sold (MLS) $10,000 CBRMLS
• 2009-07-17 Listing Removed — CBRMLS
• 2009-02-16 Listed $12,900 CBRMLS
• 2005-10-11 Sold (Public Records) $45,500 Public Records
• 2004-06-30 Sold (Public Records) $110,000 Public Records
• 1998-03-18 Sold (Public Records) $13,000 Public Records
• 1989-01-05 Sold (Public Records) $25,000 Public Records

Property tax history

+13.0%/yr

Latest (2024): $5,001 · +1.3% YoY. Source: county tax records.