Renovated Duplex Near Downtown
For Sale
$450,000
Pending
1001-1003 Linwood Avenue, Columbus, OH 43206
Turnkey duplex with strong rental demand and convenient downtown access.
Property Size3,990 SF
Days on Market102
Property Features for 1001-1003 Linwood Avenue
General Information
Standard status
Pending
Size
3,990 SF
Property subtype
Multi-Family / Duplex
Taxes and HOA fees
Annual Taxes
$4,058
Amenities
Central Air
Forced Air
Yes
Building Details
Year Built
1918
Listing Agency:
Reafco
Listed By:
Brandon Goldsmith · License #2020000644
(614) 963-3340
Source:
Compass
Added: May 26
Changed: Aug 8
Last Checked: Jul 24 at 2:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Reafco
Investment Insights
Based on property information with market context.
This fully renovated side-by-side duplex, totaling almost 4,000 square feet, features two spacious units, each with 4 bedrooms and 2.5 bathrooms. Situated in an improving South Columbus market near downtown, the property benefits from strong rental demand, ongoing redevelopment, and rising property values. Its location provides convenient access to major employers, hospitals, highways, and downtown amenities. Major updates in 2026 include new furnaces, central A/C units, hot water tanks, updated Romex wiring with new electrical panels, and updated PEX plumbing. Interior improvements feature new kitchen cabinets, quartz countertops, backsplash, updated bathrooms and tile, LVP flooring throughout, fresh paint, updated lighting and hardware, and new interior/exterior doors. Exterior upgrades include repainted and glazed brick, a new garage door track, and a new deck on the 1003 side. All new appliances are included. This turnkey asset presents an ideal opportunity for investors or owner-occupants.
Key Highlights
- Fully renovated duplex totaling almost 4,000 SF with two spacious 4 bed / 2.5 bath units.
- Turnkey asset in an improving South Columbus market near downtown.
- Major 2026 updates include new furnaces, central A/C units, hot water tanks, updated Romex wiring with new electrical panels, and updated PEX plumbing.
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
$33,975
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
7.55%
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%
$679,500
$679.5K
Cap Rate 7%
$485,357
$485.4K
Cap Rate 9%
$377,500
$377.5K
Market Conditions
NOI Build-Up for 3,990 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
$52.2K $13.08/SF
− Vacancy
−$3.7K −$0.92/SF
EGI
$48.5K $12.16/SF
− OpEx
−$14.6K −$3.65/SF
NOI
$34.0K $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%
$679,500
Cap Rate 7%
$485,357
Cap Rate 9%
$377,500
Alternative Uses
Best Use
Multifamily LT 5
$485.4K
$424.7K – $566.3K
NOI $33,975 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,331 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$831.5K
$727.6K – $970.1K
NOI $58,208 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
886
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 - Turnkey duplex with strong rental demand and convenient downtown access.
Where is this duplex located?
The property is located at 1001-1003 Linwood Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully renovated duplex totaling almost 4,000 SF with two spacious 4 bed / 2.5 bath units.; Turnkey asset in an improving South Columbus market near downtown.; Major 2026 updates include new furnaces, central A/C units, hot water tanks, updated Romex wiring with new electrical panels, and updated PEX plumbing.
