Good Areas to Buy in Columbus, Ohio

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Good Areas to Buy in Columbus, Ohio

Troy Rucker
Columbus, OH · Member since 2016 · 8 posts · 2 votes

Does anyone in the Columbus, OH market know what kinds of houses are selling (i.e. number of bedrooms, number of bathrooms, etc.) and what areas are currently doing well (i.e. Gahanna, Bexley, Dublin, etc.)? If not, could you point me in the right direction as to where I can obtain some of this information? Any feedback would be much appreciated!

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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
7y
Originally posted by @Derek Willis:

How about decent neighborhoods in Columbus for a buy and hold a strategy? I have one investment home in CA with horrible ROI that used to be our primary and it's going on the market so I can grab equity and look out of state. Just barely starting and scoping out different areas to begin. thanks

 A great place to start in columbus is near OSU like 43201 and 43202 for smaller apartments. Mostly going to be a little better than the 1% rule. Outside of that there are a lot of great deals in 43203, 43205, 43206 but you are going to have to put a lot of money into those properties. We are spending on average around $45k per door around there for duplexes. If you want income i'd look for 4 units only and up and less than 60k per door. 

[email protected]786-494-6766
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  • Joan Defenbaugh
    Real Estate Agent · Columbus, OH · Member since 2015 · 24 posts · 8 votes
    10y

    Hi Troy,

    I am a real estate agent full time in Columbus, so I'm "in it" all the time.

    Can you tell me what you need, more specifically and I'll send you some info.  

    0Reply
  • Troy Rucker
    OP
    Columbus, OH · Member since 2016 · 8 posts · 2 votes
    10y

    Hi Joan, 

    As I am still in the 'education' phase of my real estate investing venture, I'm trying to research my local area in order to find the best areas to invest. I am looking for single-family home REOs and short sales no more than $100,000, ideally around Bexley and Gahanna. 

    Within those areas I am trying to determine what homes are selling. For example, are three bedroom/two bathroom single-family homes selling better two bedroom/one bathroom single-family homes in Gahanna/Bexley? I have picked Bexley and Gahanna because those are the areas I'm most familiar with in Columbus, although I am open to other areas around Columbus if they have better deals. 

    I am also looking for areas around Columbus which are growing fastest, with regards to population and employment.

    Thank you!

    Troy R.

    0Reply
  • Grant Patmon
    Investor · Columbus, OH · Member since 2014 · 73 posts · 22 votes
    10y

    Hey Troy. 

    Right now in Columbus everything is selling.  And fast. And for top dollar.   It may be hard to find a home in that price range in those areas on the mls.  Potentially a condo.  if you don't have mls you should download the Zillow app and research your target areas. You can get a great idea of what is selling and for how much poking around on their app. 

    Good luck!

    0Reply
  • John HornerPro Member
    Flipper/Rehabber · Columbus, OH · Member since 2013 · 1k+ posts · 655 votes
    10y

    Maybe if you explained your goals we could better help you. Are you looking to rent it out or flip it? If you want a rental are you looking mainly for cash flow or appreciation? Why do you specifically want REO's or Short Sales? Wouldn't any discounted property at the right price work?

    Gahanna and Bexley are like polar opposite areas.  Bexley is old and has character and has old money and some parts are on the edge of the war zones.  On the other hand Gahanna is mostly newer developments, the BURBS if you will. 

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  • Aimee Sowards-Mounts
    Licensed Ohio Realtor · Grove City, OH · Member since 2015 · 77 posts · 30 votes
    10y

    Hi,

    3 or 4 bedroom will ALWAYS sell faster, and most families prefer 2 baths, especially if it's a 4BR.  There are pockets of Columbus that are always growing and improving, such as Old Town East, Westgate, Old Oaks, etc that have property values increasing and people renovating right and left.  It's getting harder and harder to find good prices to make a flip profitable in those areas, but I'm still finding them (just less often).  As a few others said above, it does truly depend on your goals and strategy.  Is this for a flip, or do you intend to buy/hold for long term investing.  Then based on those answers, we can steer you more into the right direction.  Suburbs are typically better schools all around Columbus, so you might tend to get a stronger tenant or Buyer in suburbs here.  But as I said, in the Columbus area I mentioned, those Buyers are more often executives, have kids in private school, or don't have any kids at home.   There are less and less short sales here now, since the market has improved.  Banks know this, and there are far less people upside down in their mortgages due to values increasing quickly.   I'm happy to help, send me a PM if you have any property in mind that you want analyzed, or if you want help locating properties I can assist with that too.  Along with recommendations for contractors, insurance, lenders etc.  Best of luck!

    2Reply
  • Troy Rucker
    OP
    Columbus, OH · Member since 2016 · 8 posts · 2 votes
    10y

    @Aimee Sowards-Mounts and @John Horner I am looking to fix and flip. While I did mention I am seeking REO's or Short Sales, I am not seeking those deals exclusively. I am open to any discounted property at the right price. I really appreciate all the input and advice from everyone!

    0Reply
  • Peter Lohmann
    Property Manager · Columbus, OH · Member since 2012 · 309 posts · 275 votes
    10y

    So, you're looking for a discounted property at the right price, in a good neighborhood, and you want us to help you find it? No problem! :)

    1Reply
  • Derek Willis
    Rental Property Investor · Chula Vista, CA · Member since 2018 · 16 posts · 10 votes
    7y

    How about decent neighborhoods in Columbus for a buy and hold a strategy? I have one investment home in CA with horrible ROI that used to be our primary and it's going on the market so I can grab equity and look out of state. Just barely starting and scoping out different areas to begin. thanks

    1Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    7y
    Originally posted by @Derek Willis:

    How about decent neighborhoods in Columbus for a buy and hold a strategy? I have one investment home in CA with horrible ROI that used to be our primary and it's going on the market so I can grab equity and look out of state. Just barely starting and scoping out different areas to begin. thanks

     A great place to start in columbus is near OSU like 43201 and 43202 for smaller apartments. Mostly going to be a little better than the 1% rule. Outside of that there are a lot of great deals in 43203, 43205, 43206 but you are going to have to put a lot of money into those properties. We are spending on average around $45k per door around there for duplexes. If you want income i'd look for 4 units only and up and less than 60k per door. 

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
    WebsiteView Page
    3Reply
  • Derek Willis
    Rental Property Investor · Chula Vista, CA · Member since 2018 · 16 posts · 10 votes
    7y

    Much appreciated. I will start checking out those areas.

    0Reply
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