Insight in the Columbus market

Columbus, Ohio
Columbus Real Estate Forum
9yFollow

Insight in the Columbus market

Chris Schoonhoven
Real Estate Agent · Tampa FL · Member since 2016 · 53 posts · 27 votes

Hello, I'm looking at purchasing a piece of property in the Columbus area this week.

I live in NJ so I wanted to get insight into the area and hear from local people on the market and see what you think of my deal. The property is in the Greater Hilltop community. If anyone would like to discuss and help out I'll share more information on a direct message.

Thanks in advance!

Chris

3Reply
158 views

Most Popular Reply

Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
9y
Originally posted by @Chris Schoonhoven:

Hello, I'm looking at purchasing a piece of property in the Columbus area this week.

I live in NJ so I wanted to get insight into the area and hear from local people on the market and see what you think of my deal. The property is in the Greater Hilltop community. If anyone would like to discuss and help out I'll share more information on a direct message.

Thanks in advance!

Chris

 Hi Chris, I'd be happy to help identify if it's a great deal locally. We just worked with another out of state investor who was in contract on a property in Columbus and didn't know the areas. In 5 minutes of research we identified that he would have set the record sale price for a multiunit for that area in the last 3 years. If you are using cash I'd be even more carful not to just purchase something right away but to take a month or two to get to know the area better. I sent you a PM and would be happy to provide some insight. 

[email protected]786-494-6766
Section 8 Launch52 Reviews
WebsiteView Page
3Reply
See this reply in the discussion

30 Replies

Jump to latestLatest
  • Joshua D.
    Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
    9y

    Columbus is a great town!  we have about 2000 people and one of the best rated Elementary schools in the state. Just outside of a great market that has been stable through the last few recessions... Gotta love it!  Montana is an incredible place to live! 

    Or did you mean Columbus, OH   

    I moved here from Ohio... never going back. 

    0Reply
  • Chris Schoonhoven
    OP
    Real Estate Agent · Tampa FL · Member since 2016 · 53 posts · 27 votes
    9y

    Oh, sorry meant Columbus OH... Looking to purchase there but maybe should look into Montana ha.

    Thanks Josh

    0Reply
  • Joshua D.
    Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
    9y

    I figured you did, no one actually wants to know about a hick town in Montana...  but I thought i would take the opportunity to share  :) 

    Good luck on your investments. I am sure some brilliant folks from columbus, OH will post soon. 

    0Reply
  • Chris Schoonhoven
    OP
    Real Estate Agent · Tampa FL · Member since 2016 · 53 posts · 27 votes
    9y

    Thanks.. Note to anyone else as well. I'm looking to purchase a property and would need a picture of a piece of property. I'd be happy to compensate for some pictures taken of a home in Greater Hilltop.

    Thanks again 

    0Reply
  • Tristam GriffithPro Member
    Real Estate Broker · Columbus, OH · Member since 2016 · 86 posts · 45 votes
    9y

    Hi Chris.

    Columbus, Ohio is an amazing investment area. I own rentals, and I sell rentals.

    I used to buy in the Hilltop, and Franklinton area. I sold all my stuff there. I was sick of paying for bed bug remediation.....ergh..

    I still sell to clients there. 

    The Hilltop has several different types of area. The Westgate area is the nicest.

    What street is the property on and what do you need to know?

    0Reply
  • Sharon Seiter
    Wooster, OH · Member since 2016 · 38 posts · 19 votes
    9y

    Hey @Chris Schoonhoven!  I'm currently in Columbus, but grew up in Morris County NJ.  My grandmother lived in Asbury Park for years and my great grandfather actually built a number of houses in the vicinity, so I know that area quite well!

    I just began researching the Columbus, OH market, having moved here in May.  From what I know, it's a stable, growing city with very low vacancy rates compared to the rest of the country.

    Hilltop is not an area I am very familiar with yet, but from what I have heard would have mostly "C or D" neighborhoods.  Here is a good thread on general neighborhood grades in Columbus, esp. the third comment from Grant:

    https://www.biggerpockets.com/forums/577/topics/312730-a-b-c-d-areas-in-columbus-oh

    Good luck, and let us know how things turn out!

    Sharon

    1Reply
  • John HornerPro Member
    Flipper/Rehabber · Columbus, OH · Member since 2013 · 1k+ posts · 655 votes
    9y

    I avoid Hilltop like the plague.  High crime + low income = Poor tenants to choose from.  

    2Reply
  • John HornerPro Member
    Flipper/Rehabber · Columbus, OH · Member since 2013 · 1k+ posts · 655 votes
    9y

    I guess I don't consider Westgate a part of Hilltop, but @Tristam Griffith is correct, Westgate is nice, I just picked one up there, also own one in ValleyView and one in Broad Lawn neighborhoods.

    1Reply
  • Chris Schoonhoven
    OP
    Real Estate Agent · Tampa FL · Member since 2016 · 53 posts · 27 votes
    9y

    Nice post @Sharon Seiter Thanks for sharing. Thanks for the information.


    Chris

    0Reply
  • Grant Patmon
    Investor · Columbus, OH · Member since 2014 · 73 posts · 22 votes
    9y
    Thanks for the shout out on my former post about the hilltop Sharon Seiter :). I agree with the others stay away from the hilltop unless you get into a sweet spot like Westgate or Holly Hill. Tristam Griffith The bed bug issue in the hilltop is CRAZY! Such an expensive nightmare.
    2Reply
  • Chris Schoonhoven
    OP
    Real Estate Agent · Tampa FL · Member since 2016 · 53 posts · 27 votes
    9y

    Would the bed bug issue and tenant issue be in this area below as well? This was a mile outside of the Westgate are @Tristam Griffith @Sharon Seiter @Grant Patmon

    @Grant Patmon

    0Reply
  • Tristam GriffithPro Member
    Real Estate Broker · Columbus, OH · Member since 2016 · 86 posts · 45 votes
    9y

    Hi @Chris Schoonhoven. That area is just as bad with bugs. That being said, I have clients who love the Hilltop. I'm not trying to turn you off it. I'm just saying I don't buy there. 

    You can't get rid of the bedbugs, because the tenants won't cooperate in cleaning up to do remediation. They complain about the bedbugs, but won't clean up to treat for them. It's just a money drain. I had 3 duplexes there, and it was a nightmare. I sold all of them, and moved my investments to the other side of town, literally. :-)

    Columbus is, however, an amazing market for returns. You can be all in at $45k-$55k on a decent house and get $650-$750 a month in rent. Sometimes cheaper, depending on the deal. I bought a house last month for $14k. I'll put $15k in, and get $750 a month in rent, because the house is right next to a high school. Not an amazing neighborhood, but $29k in for $750 in rent is pretty dang good. 

    I don't know what you are paying for this house. Keep it under $25k with at least $650 a month in rent. And, screen the crap out of your tenants! Tenants in this area don't have jobs. They are all on Social Security, which is good from a regularity standpoint, but if they screw up and miss even one payment, you'll have to evict them, because they will never catch up.

    Good luck!

    2Reply
  • Peter Lohmann
    Property Manager · Columbus, OH · Member since 2012 · 309 posts · 275 votes
    9y

    The property is in the Greater Hilltop community.

    Avoid.

    1Reply
  • Chris Schoonhoven
    OP
    Real Estate Agent · Tampa FL · Member since 2016 · 53 posts · 27 votes
    9y

    hmm ok. I have a bid in on a 2 family for just 15k (buying an npn) rent will be 1200. So looking at an insane return (of course investment in rehab will be factored in). But will have to avoid the headaches. Thanks 

    0Reply
  • Grant Patmon
    Investor · Columbus, OH · Member since 2014 · 73 posts · 22 votes
    9y
    Chris Schoonhoven I would probably not take a property there even if it was given to me. Cap ex. And tenant issues will eat all of your profits unless you want to be extremely hands on. Which is doable if you have boots in the ground. If you want to be hands off you will have a hard time finding a local and reputable PM company to manage it. It may be close to one of the nicer areas but perceived and natural barriers make the two areas very different places to invest.
    1Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    9y
    Originally posted by @Chris Schoonhoven:

    Hello, I'm looking at purchasing a piece of property in the Columbus area this week.

    I live in NJ so I wanted to get insight into the area and hear from local people on the market and see what you think of my deal. The property is in the Greater Hilltop community. If anyone would like to discuss and help out I'll share more information on a direct message.

    Thanks in advance!

    Chris

     Hi Chris, I'd be happy to help identify if it's a great deal locally. We just worked with another out of state investor who was in contract on a property in Columbus and didn't know the areas. In 5 minutes of research we identified that he would have set the record sale price for a multiunit for that area in the last 3 years. If you are using cash I'd be even more carful not to just purchase something right away but to take a month or two to get to know the area better. I sent you a PM and would be happy to provide some insight. 

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
    WebsiteView Page
    3Reply
  • Jessie Niu
    Columbus, OH · Member since 2015 · 210 posts · 80 votes
    9y

    , Columbus Ohio is a great RE market.

    Speaking of Hilltop, you need to find the sweet spot, I own duplex there and is one of my favorite, not really in Westgate, but that particular block is nice with home owners who take care of their properties, purchasing price is low, tenants there are low-income working class, I did serious tenants screening, and am very happy with the ones I have, it produce the most profit out of all my investments.

    But as out-of-state investors, probably should avoid Hilltop area if you are not familiar with the area.

    1Reply
  • Brad Clarizio
    Flipper/Rehabber · Columbus, OH · Member since 2014 · 161 posts · 116 votes
    9y

    I own 1 duplex in the hilltop, specifically off Sullivant/Hague in the "better" area of Hilltop (only about .5 miles away from Westgate).

    It is by far my highest flowing property. I am into it 55k total and collect $1500 a month (each side is $750 including water), but there are a lot of problems. I'm lucky enough to have 2 great tenants who pay every month, but the bug problem is real. I spend probably $1,500-$2,000 a year on extermination on that house alone. It's frustrating, but with low taxes, relatively low insurance and no mortgage payment, I am flowing about $12,500 a year just from that one house (less than 5 year ROI).

    If I had to do it all over again, I'd still buy this house. I am hanging on to it for a few more years until I get enough properties that I won't miss the ridiculous cash flow (basically I'll give up the cash for less of a headache). 

    Similar things can be said about North Linden, where I have two properties. Never had an issue with bugs, but tenant quality is poor. I have a house there I'm all in at 12k and I've been renting it for 4 years for $650 a month with only 2 months of vacancy, ever. 

    2Reply
  • Brad Clarizio
    Flipper/Rehabber · Columbus, OH · Member since 2014 · 161 posts · 116 votes
    9y

    Sorry for double post. 

    0Reply
  • Brendan Woulfe
    Investor · Galena, OH · Member since 2016 · 19 posts · 8 votes
    9y

    @Brad Clarizio, do you manage those properties yourself?

    0Reply
  • Brad Clarizio
    Flipper/Rehabber · Columbus, OH · Member since 2014 · 161 posts · 116 votes
    9y

    @Brendan Woulfe , Yes, I manage all of them myself. 

    0Reply
  • Brendan Woulfe
    Investor · Galena, OH · Member since 2016 · 19 posts · 8 votes
    9y

    OK, that makes sense then.  You have a bigger stomach for that then me! lol

    0Reply
  • Adam Collins
    Real Estate Investor · Corolla, NC · Member since 2016 · 4 posts · 1 vote
    9y

    This is a great discussion, and perfect for the current decision I'm faced with.  I'm about to put an offer on a duplex southeast of Childrens Hospital, sort of in/near 'southern orchards'.  I want to get one more duplex, and I'm trying to decide between another one in that same area, or Franklinton.  

    When we looked at the one in Franklinton the tenants told us all about the bed bugs; they were actually waiting on the exterminators that day.  

    I like the Franklinton area, mostly because I see the potential and feel that rents and home values are only going to increase.  Just trying to get some feedback on both areas/neighborhoods and see if anyone has some stories that might help me land on one side of the fence or another.


    1Reply
  • Josh Trup
    Member since 2024 · 35 posts · 20 votes
    2y
    Quote from @John Horner:

    I avoid Hilltop like the plague.  High crime + low income = Poor tenants to choose from.  




    Hello,
    Im also curious how the situation in hill top is nowadays!


    Ive got my eye on some places and just hoping to get your opinion on the neighborhood, my understanding of hilltop is over-all its C grade but can be street by street slightly better or worse.. Im looking specificaly at the corner of sullivant and S terrace Ave ( on the south side of sullivant). Any extra thoughts on this area?


    0Reply
  • Harrison Chow
    Real Estate Agent · Columbus, OH · Member since 2019 · 292 posts · 364 votes
    2y
    Quote from @Chris Schoonhoven:

    Hello, I'm looking at purchasing a piece of property in the Columbus area this week.

    I live in NJ so I wanted to get insight into the area and hear from local people on the market and see what you think of my deal. The property is in the Greater Hilltop community. If anyone would like to discuss and help out I'll share more information on a direct message.

    Thanks in advance!

    Chris

    Hey Chris! Greater Hilltop is a place you'd want to avoid. However, Columbus itself has a diverse range of neighborhoods that could be a better fit for your investment goals. Each area has unique characteristics, and I'd be more than happy to give you insights into neighborhoods that might align better with what you're looking for. Let me know how I can help!
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free