Renovated
For Sale
$399,000
1085-1087 E Sycamore Street, Columbus, OH 43206
Multi-Family, Columbus, OH
Property Size2,356 SF
Lot Size0.05 Acres
Price / SF$169.35
Days on Market49
Property Features for 1085-1087 E Sycamore Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Elementary school district
COLUMBUS CSD 2503 FRA CO.
Middle school district
COLUMBUS CSD 2503 FRA CO.
High school district
COLUMBUS CSD 2503 FRA CO.
Standard status
Active
APN
010-004267
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3313
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1919
Number of units
2
Listing Agency:
Red 1 Realty
(614) 585-9020
Listed By:
Ines Hilaman
(740) 972-2192
Added: Jul 17
Changed: Sep 3
Last Checked: Sep 3 at 11:06AM
MLS# 226026846
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,356 total square feet, with each residence offering 3 bedrooms and 1.5 bathrooms. The building was renovated from the studs in 2023, providing substantially updated interiors within a two-unit configuration. Both residences are currently occupied under leases scheduled to end at the end of September, giving the next owner flexibility to continue leasing, occupy one or both units, or pursue an owner-occupancy strategy.
The property occupies 0.05 acres in Columbus, Ohio, and benefits from a 15-year tax abatement that extends approximately through 2039. Public water and public sewer serve the property. Built in 1919, the duplex combines historic building stock with a recent comprehensive renovation and a defined near-term leasing timeline.
The property occupies 0.05 acres in Columbus, Ohio, and benefits from a 15-year tax abatement that extends approximately through 2039. Public water and public sewer serve the property. Built in 1919, the duplex combines historic building stock with a recent comprehensive renovation and a defined near-term leasing timeline.
Key Highlights
- Approximately 2,356 total square feet
- Two units, each with 3 bedrooms and 1.5 bathrooms
- Renovated from the studs in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,062
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,240
$401.2K
Cap Rate 7%
$286,600
$286.6K
Cap Rate 9%
$222,911
$222.9K
Market Conditions
NOI Build-Up for 2,356 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.8K $13.08/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$28.7K $12.16/SF
− OpEx
−$8.6K −$3.65/SF
NOI
$20.1K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,240
Cap Rate 7%
$286,600
Cap Rate 9%
$222,911
Alternative Uses
Best Use
Multifamily LT 5
$286.6K
$250.8K – $334.4K
NOI $20,062 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$230.5K
$201.7K – $269.0K
NOI $16,138 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$491.0K
$429.6K – $572.8K
NOI $34,370 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated two-unit property with matching three-bedroom layouts and current tenant occupancy.
Where is this duplex located?
The property is located at 1085-1087 E Sycamore Street Columbus, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approximately 2,356 total square feet; Two units, each with 3 bedrooms and 1.5 bathrooms; Renovated from the studs in 2023
