Franklinton is Columbus’s west-side value-add corridor — West Broad Street rows, COSI and arts-district foot traffic, and blocks where sponsors still find $165K–$265K acquisitions when Short North basis exceeds flip margin targets.
Hard money loans in Franklinton fund knob-and-tube doubles, estate sales with 10-day closes, and heavy mechanical scopes community banks won’t touch on investor strategy.
Metro: Columbus hub · Ohio fix and flip · Rankings.
Investor profiles
| Profile | Playbook |
|---|---|
| O-O flipper | Row to $245K–$340K ARV — clean rental-grade+ finish |
| BRRRR operator | Legal two-unit at $1,450–$1,750/side |
| Short North graduate | Recycle Franklinton profit into premium corridor |
2026 price bands
| Asset | As-is | Rehab | ARV / rent |
|---|---|---|---|
| Row heavy rehab | $165K–$220K | $55K–$90K | $245K–$310K resale |
| Two-unit hold | $175K–$265K | $65K–$95K | $2,850–$3,400/mo gross |
| Small MF (4-unit) | $220K–$320K | $90K–$140K | Hold-weighted |
Shared sewer lateral and knob-and-tube common on pre-1940 stock — camera and panel in draw one.
Worked example: West Broad row O-O flip
Acquisition: $198,000 — estate sale, 12-day close window
Rehab: $78,000 — HVAC, electrical panel, kitchen/bath, exterior paint, porch repair
All-in: $276,000
Hard money: 88% LTC · 11-day close · 10.5% IO
Sale: $335,000 at 8-month mark
Net spread (est.): ~$24,000 after carry and selling costs
Appraisal used Franklinton solds only — Short North imports would have failed.
Worked example: two-unit BRRRR
Acquisition: $188,000 — one side vacant, shared 100-amp panel
Rehab: $68,000 — separate utilities path, both kitchens/baths
Stabilized rent: $1,475 + $1,395 = $2,870/mo gross
Appraisal: $278,000
DSCR refi: 70% LTV with +16% reassessment in expense stack
Scioto flood diligence
River-adjacent blocks near Greenlawn and Souder require:
- FEMA map verification
- Insurance quote in carry — $800–$1,800/yr delta vs inland Franklinton
- Elevation cert on shaded zones before hold exit
Inland West Broad files typically quote standard Franklin County landlord policies.
Comp discipline
- Short North walk premiums do not price Franklinton ARV without $40K–$80K adjustment
- Hilltop and Westgate comps are separate corridors
- COSI / arts district blocks support $10K–$25K premium vs interior alley rows — prove with solds
Carry math
$276K all-in at 88% LTC and 10.5% IO ≈ $2,150/mo interest. Seven-month rehab + three-month marketing ≈ $21.5K carry — include in net spread before LOI.
Lead paint and lateral scope
| Item | Typical cost |
|---|---|
| Knob-and-tube + panel | $6K–$12K |
| Sewer lateral repair | $4K–$10K |
| Lead-safe work path | $3K–$7K |
Budget 10% contingency on pre-1950 Franklinton acquisitions.
West Broad commercial spillover
Ground-floor retail on West Broad can support mixed-use hold math when commercial lease is documented — do not model retail rent on unverified vacancy. Residential-only rows one block north trade simpler O-O flip exits with faster DOM.
Two Bridges and COSI corridor
Walk traffic from COSI and Two Bridges development supports $10K–$25K ARV premium on select blocks — prove with three solds on the same face, not map-radius Zillow imports from Short North.
Estate sale channel
Franklinton heirship listings reward 10-day hard money closes when conventional buyers stall on knob-and-tube findings. Budget $8K–$15K unseen mechanical on every pre-1970 estate acquisition.
BRRRR vs. flip on the same row
The $276K all-in Franklinton flip example above could alternatively stabilize at $2,870/mo gross and refi at 70% LTV — lower absolute profit than a clean O-O sale in 2026 comps, but recycles equity for a second west-side door. Model both exits before LOI; do not assume flip is always optimal on every Franklinton block.
Scioto Greenway impact
Greenway and riverfront investment can support long-term O-O demand on select west-side blocks — short-term flip pro formas should still comp current solds, not pro forma land appreciation on parcels two blocks from the river.
Franklinton vs. Short North basis spread
The $80K–$120K basis gap between typical Franklinton and Short North acquisitions is the Columbus market’s central tradeoff — lower entry and stronger percentage ROI west of downtown vs. premium absolute spread near High Street when execution is clean.
Loan terms (2026)
| Parameter | Range |
|---|---|
| Rate | 8.99%–13.5% IO |
| LTC | Up to 100% of cost on qualified files, capped at 75% of after-repair value |
| Close | 7–10 business days |
Franklinton — west-side value-add file gates (2026)
Franklinton files fail when Short North premiums price West Broad row ARV, or when flood-adjacent Scioto blocks lack insurance quote in carry. Arts-district O-O buyers compare finish to COSI corridor renovated stock — not minimal landlord tile.
- Basis: $165K–$265K heavy rehab row — ARV $245K–$340K when block is walked
- Flood: Scioto river-adjacent parcels — verify FEMA and quote before LOI
- Scope: Knob-and-tube and shared lateral common on pre-1940 stock — draw one mechanical
- Exit: Flip to O-O or BRRRR at $1,450–$1,750/unit on legal two-unit
Bridge 8.99%–13.5% IO · Columbus rankings · (833) 264-7776.
Analyzing a Franklinton row or two-unit acquisition? Pre-qualify for hard money or call (833) 264-7776 for proof of funds before your next West Broad offer.
Underwriting anchor: All-in: $276,000 — lateral** and knob-and-tube common on pre-1940 stock — camera and panel in draw one on Franklinton Columbus before IO term.
Franklinton, Columbus — carry and draw discipline (2026)
Draw releases on Franklinton, Columbus should tie to inspection milestones — calendar-based schedules stall when permits or weather push exterior work past your IO reserve.
Reserve two to four months IO beyond rehab on Franklinton, Columbus acquisitions. Insurance quote in carry — $800–$1,800/yr delta vs inland Franklinton.
Replay the worked structure on this page (Acquisition: $198,000 — estate sale, 12-day close window) with your own sold comps and insurance quote before LOI.
| Gate | This file |
|---|---|
| Profile | Playbook |
| O-O flipper | Row to $245K–$340K ARV — clean rental-grade+ finish |
| BRRRR operator | Legal two-unit at $1,450–$1,750/side |
Rates, terms and conditions offered only to qualified borrowers and are subject to change without notice. All loans are subject to full underwriting. Jaken Finance Group only finances non-owner occupied investment properties.
Columbus rent benchmarks versus a West Broad lease
HUD’s fiscal year 2027 fair market rent for the Columbus, OH area is $1,346 for one bedroom, $1,602 for two bedrooms, and $1,909 for three bedrooms. The figures took effect October 1, 2026, unless a housing authority wins a reevaluation. Franklin County is in that area. The rent file lists a 2024 county population of 1,333,048. See HUD’s fair market rent tables and the September 1, 2026 notice (91 FR 56156).
A legal two-bedroom side at $1,475 sits $127 under the two-bedroom fair market rent. A one-bedroom side should not be modeled at the two-bedroom figure. The refinance uses each executed lease. The voucher benchmark is a ceiling for a housing-authority payment. It is not the rent you can advertise on every alley row.
Who lives here, and what is being permitted
The Census Bureau Vintage 2025 estimates put Columbus city at 938,396 people on July 1, 2025. That count is in the 2020–2025 city population folder. Citywide growth does not price a West Broad row. Walk the block.
Franklin County’s permit row through August 2026 is almost fully reported. The imputed one-unit count is 1,295. The reported-only count is 1,279. Imputed one-unit value is $536,010,325. Buildings of five or more account for 4,725 units in the imputed columns. Two-unit buildings contribute 38 units. Three- and four-unit buildings contribute 19. Census explains imputation in the county permit layout. The year-to-date file is co2608y.txt.
New apartments and new houses are not comps for a pre-1940 row. They do tell you the metro is still adding rental supply. A basic landlord finish has to beat that new product on price, not on brochure photos.
Do not add the regional index on top of the sale
FHFA’s purchase-only index rose 0.3% from June 2026 to July 2026 and 2.6% over the prior year. The East North Central division, which includes Ohio, rose 0.1% that month and 4.5% from July 2025 to July 2026. The report is dated September 29, 2026. Read FHFA’s monthly house price report.
Illustration: apply that 4.5% year change to the $335,000 sale in the West Broad example and you get about $15,075 ($335,000 times 0.045). The example’s estimated net was about $24,000. Treating the division index as guaranteed block appreciation would count most of the profit twice. Use Franklinton solds. Leave the index in the background.
Flood panel, lead paint, and the deposit statute
River-adjacent parcels still need a panel lookup. The search starts at the FEMA Flood Map Service Center. Pull the parcel before the letter of intent. Do not assume every Franklinton lot is in a special flood hazard area, and do not assume an inland West Broad lot is clear. The insurance quote belongs in the carry budget either way.
Pre-1978 paint is a federal work rule, not a local rumor. EPA says the sale of lead-based paint for homes was banned in 1978, and that about three-quarters of pre-1978 homes still contain some of it. Firms that disturb painted surfaces in those homes must be certified, and workers must be trained. The rule reaches investors who buy, renovate, and sell. It also reaches a house you rent out. Homeowner do-it-yourself work on a house you live in is the narrow exception. The program page is the Renovation, Repair and Painting rule. Budget a certified firm on knob-and-tube rows before draw one.
Ohio Revised Code 5321.04 requires a landlord to keep the premises fit and habitable and to maintain electrical, plumbing, and HVAC the landlord supplies. Section 5321.16 says a security deposit above fifty dollars or one month’s rent, whichever is greater, must bear 5% a year on the excess if the tenant stays six months or more. The interest is computed and paid annually. Deductions must be itemized within thirty days after the rental agreement ends and possession is returned. The tenant must give a forwarding address. Read 5321.04 and 5321.16. This is a description of the code, not advice for one tenant.
Illustration: rent is $1,475. One month’s rent is the threshold. A deposit of $2,950 has $1,475 of excess. Five percent of that excess is $73.75 a year, if the six-month test is met. A deposit equal to one month may have no excess at all. Model the statute. Do not invent a higher rate.
Permanent takeout for a stabilized two-unit is a Ohio DSCR loan. Jaken Finance Group bridge interest on the flip or the hold is 8.99%–13.5%, for 6–12 months, closing in 7–10 business days on a complete file. Cost leverage can reach 100% on a qualified file and is capped at 75% of after-repair value.
Before the next West Broad offer, confirm the flood panel, the lead-safe contractor, the lateral camera, and three Franklinton solds. Call (833) 264-7776 if the estate timeline needs proof of funds this week.