Renovated Duplex with Two
New
For Sale
$399,000
10851087 1085-1087 E Sycamore St, Columbus, OH 43206
Both units are occupied, with current leases ending at the end of September.
Property Size2,356 SF
Price / SF$169.35
Days on Market2
Property Features for 10851087 1085-1087 E Sycamore St
General Information
Standard status
Active
Size
2,356 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1919
Year Renovated
2023
Buildings
1
Tenancy
Multi
Listing Agency:
Red 1 Realty
Listed By:
Ines Hilaman
(740) 972-2192
Source:
Thelorilynngroup
Added: Sep 6
Last Checked: Sep 7 at 1:07PM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This duplex was rebuilt from the studs in 2023 and contains approximately 2,356 total square feet. Each unit offers 3 bedrooms and 1.5 bathrooms, creating a matched two-unit configuration within the property originally built in 1919.
Both residences are currently tenant occupied, with leases scheduled to end at the end of September. A 15-year tax abatement remains in place through approximately 2039, adding a significant property-specific operating consideration for a new owner.
Both residences are currently tenant occupied, with leases scheduled to end at the end of September. A 15-year tax abatement remains in place through approximately 2039, adding a significant property-specific operating consideration for a new owner.
Key Highlights
- Renovated from the studs in 2023
- Approximately 2,356 total square feet
- Each unit includes 3 bedrooms and 1.5 bathrooms
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
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
420
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied, with current leases ending at the end of September.
Where is this duplex located?
The property is located at 10851087 1085-1087 E Sycamore St 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: Renovated from the studs in 2023; Approximately 2,356 total square feet; Each unit includes 3 bedrooms and 1.5 bathrooms
