1842 Elmwood Ave
Columbus, OH · Duplex · 2 units · $285,000
Make an Offer
high confidenceThis looks like a solid deal worth making an offer on.
NOI
$20,520
annual
Cap Rate
7.2%
Cash-on-Cash
9.4%
DSCR
1.73x
What this means
For every $71,250 you put down, you'd earn roughly $720 per month in cash flow after the mortgage. The rent covers the mortgage payment by a comfortable margin — meaning even if one unit sits vacant for two months, you'd still break even.
Risks to know
Tax reassessment risk
Property is assessed at $198,000 — a pre-sale grandfathered rate. Columbus reassesses at sale. Project a 12–15% increase to $226,000–$228,000 in Year 1, adding ~$420–$440 to annual taxes.
Single water heater
Both units share one water heater (installed 2018, 8-year lifespan). Budget $900–$1,200 for replacement within the 5-year hold period.
Rent at top of market
Unit 2 is leased at $1,350/month — the top of the comparable range ($1,200–$1,375). Limited upside on renewal; model flat rent in Year 2.
Buy box alignment
Cap Rate
target >= 6.5%7.2%
Cash-on-Cash
target >= 8%9.4%
DSCR
target >= 1.25x1.73x
Asking Price
target <= $300K$285K
Levered IRR
target >= 14%16.8%
What to do next
Get a full inspection focused on the roof, HVAC, and water heater. Ask the seller for 12 months of actual bank statements — not just the numbers in the listing.
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IRR sensitivity, broker diff, offer scenarios, and more.
This analysis is for informational purposes only and does not constitute financial, legal, or investment advice. Consult qualified professionals before making investment decisions.