I am looking to buy a property in Columbus, OH, but I don't have any on-the-ground experience in the area yet, so hoping to find some help here. I have a duplex that I am looking at in the Columbus, OH area in the 43223 zip code. Duplex is 2-brdm/1 bath each unit and listed at $59,000.
Anyone familiar with this area, would you be able to share your opinion of this area?
The 43223 zip code isn't a great area. That being said, based on what I can see (using PadMapper and Rent-O-Meter) you could potentially get $500-$600 per side out of place there, depending on the condition of the property. Taxes in that area should be cheap since it's Columbus City Schools. I have no doubts it could be an income generating property but you may have to deal with some issues because of the area.
Check out the Columbus Dispatch's crime map (http://www.dispatch.com/content/sections/news/crime/crime-map.html) to give you an idea of what I'm talking about with the area. Again, I don't want to dissuade you from the property, but it's in an area I don't generally consider because of the higher crime rates.
This zip code is not a very desirable section of columbus.
I can help answer any questions you might have
Curious question.. You mention each unit.. We're you looking at more than 1 on the same street?
Thanks everyone for the replies and a bit insight on this zipcode. Any zip codes that you guys can recommend that have homes for under $50,000 and rents that hit the 2% mark?
@Drew Laughlin Yes, each unit. It is a duplex nad both units are rented.
Maybe look at 43228 zip code. Working class neighborhoods. New casino in that area has brought some good things. You can still stay away from casino (which I would). Just a thought!
There's quite a bit of development going on north of downtown in the campus area, but many of these properties are locked-down by bigger RE companies. I've always been intrigued with the German Village/Merion Village area (south of downtown) - however the price points are high. I also know there's been a lot of buzz around Franklinton (per the City wanting to re-invest there) however I think the hospital is moving to Grove City (major employer in the area). I would think anything in the Beckley, German Village, Upper Arlington area would be good, just a matter of the deal making sense.
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