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    Stacked Duplex With In-Unit Laundry Title is generated by Realmo AI

    105 North Terrace Avenue, Columbus, OH 43204

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    For Sale
    $198,900

    Updated stacked duplex with in-unit laundry and shared basement access, offering separate upstairs and downstairs living spaces.

    Type:Multi-Family / Twin Single
    Property size:
    1,898 SF
    Price / SF:
    $104/SF
    Added:
    Sep 23, 2025
    Days on Market:
    257
    Last Refresh:
    Jun 6 at 3:03 am

    Property Features for 105 North Terrace Avenue

    General Information

    Standard status
    Active
    Size
    1,898 SF
    Property subtype
    Multi-Family / Twin Single

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Aimee C Calvert
    Aimee C Calvert

    Listing agent Aimee C Calvert License #325405

    Listing office RE/MAX Premier Choice

    Listing date Sep 23, 2025

    Source Compass

    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 RE/MAX Premier Choice

    HighLights

    • Updated stacked duplex (Year Built 1910) with separate upstairs and downstairs living areas
    • $850/month rent up and $800/month rent down
    • In‑unit W/D on the 2nd floor; W/D hookups in the basement
    • Basement is accessible by both units
    • Roof is about 5 years old; furnaces (3 and 8); water heaters (5 and new)

    Overview

    This stacked duplex provides two separate units with a practical layout for rental use. The downstairs unit has two bedrooms and includes a generous living area. The second floor is also configured with two bedrooms and features in-unit washer and dryer. Both units benefit from basement washer and dryer hookups, and the basement can be accessed from either unit. Updates have been completed on both units, and multiple major systems have been replaced or refreshed, including a roof approximately 5 years old, furnaces about 3 and 8 years old, and water heaters about 5 years old with new added as noted.

    Located at 105 North Terrace Avenue in Columbus, this property sits north of Broad, placing it in an established area. The listed asking rents in the area are described as being in the $1,200 range.

    From an owner-operator or investor perspective, the duplex configuration supports two independent rents with shared access to laundry hookups in the basement. Current rents are listed as $850 for the upstairs unit and $800 for the downstairs unit, with both units positioned to appeal to tenants looking for updated interiors and convenient laundry options.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $24.8k $13.08
    − Vacancy −$1.7k −$0.92
    EGI $23.1k $12.16
    − OpEx −$6.9k −$3.65
    NOI $16.2k $8.52
    1,898 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $230.9K
    $202.0K – $269.4K (±1% cap)
    NOI $16,162 @ 7.0% cap · market cap 8.13%
    Second Best
    Apartment 5plus
    $185.7K
    $162.5K – $216.7K (±1% cap)
    NOI $13,001 @ 7.0% cap · market cap 6.54%
    Theoretical Best
    Office A
    $395.6K
    $346.1K – $461.5K (±1% cap)
    NOI $27,689 @ 7.0% cap · market cap 13.92%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0685082
    Latitude
    39.9575881

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    FAQs

    What type of property is this?
    Duplex - Updated stacked duplex with in-unit laundry and shared basement access, offering separate upstairs and downstairs living spaces.
    Where is this duplex located?
    The property is located at 105 North Terrace Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $198,900.
    What are key features of this property?
    This property features: Updated stacked duplex (Year Built 1910) with separate upstairs and downstairs living areas; $850/month rent up and $800/month rent down; In‑unit W/D on the 2nd floor; W/D hookups in the basement
    (614) 581-6900
    We can help!
    Listing Contact
    Aimee C Calvert
    Aimee C Calvert
    Real Estate License ID: 325405
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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