What are your thought on this home in Columbus, OH

10 Replies

Grandview duplex up for sale tomorrow. Can I get some opinions on the duplex? grandview is a hot area in Columbus Ohio and the prices are high. Looking for thoughts, pros and cons on the duplex. Thank you. 

Updated about 1 year ago

https://mymobile.flexmls.com/daniellim/search/shared_links/2qmxb/listings/20191113163737229011000000

@Tyler Durinka nothing in the post to give opinion on.  Grand view as you mention is great but as a cash flow investor numbers are hard to make work.   With that said hard to provide too much insight without numbers.

Cheers,

Art

@Tyler Durinka Like @Art Mimnaugh said you will probably get negative cash flow from a duplex in Grandview. If you are an appreciation investor, the deal may still work. Grandview is one of the nicest areas in Columbus, therefore Ohio. If you can get close to breaking even on a multifamily purchase it may work out well for you in the future when rents and prices increase.

People familiar with Columbus and this area...do you think its in a bubble? It looks like prices in the area have doubled in the last ten years...

@John W. Columbus, Ohio prices have increased by 45% over the last ten years. After you adjust for inflation that is 25% (assuming 2% inflation per year). Our population growth has increased by 27% in the last 10 years. I would not say it is a bubble.


http://worldpopulationreview.com/us-cities/columbus-population/

https://www.zillow.com/columbus-oh/home-values/

@John W. Grandview prices are high because it is one of the nicest areas to live in Columbus. If you are a cash flow investor, then I would not recommend that area. If your strategy is to buy in nice locations that are safe and easy to manage, then I would recommend it. 2-4 units in Grandview work well for owner-occupants that are trying to house hack.