Updated Side-by-Side
New
For Sale
$585,000
1104-1106 Michigan Ave, Columbus, OH 43201
Two townhome-style residences offer open layouts, first-floor laundry, full bathrooms, and private fenced yards.
Property Size2,100 SF
Price / SF$278.57
Days on Market3
Property Features for 1104-1106 Michigan Ave
General Information
Standard status
Active
Size
2,100 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
first-floor laundry
fenced-in private backyards
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Mark Graham, Countrytyme Realty, LLC
(614) 226-1039
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 12:23AM
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 Mark Graham, Countrytyme Realty, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,100 square feet and was built in 1900. Both residences use a two-bedroom townhome layout with open-concept living areas, laundry and a full bathroom on the first floor. The units have been updated, with one residence receiving more extensive improvements. Each side also includes a fenced private backyard.
The property is fully occupied and includes a substantial off-street parking area. Three vehicles can park side by side, with tandem arrangements providing room for potentially up to 6 vehicles. A coffee shop is directly across Michigan Ave, while neighborhood restaurants are nearby. The property is also near The Ohio State University Wexner Medical Center, Short North, Grandview, and Downtown Columbus.
The property is fully occupied and includes a substantial off-street parking area. Three vehicles can park side by side, with tandem arrangements providing room for potentially up to 6 vehicles. A coffee shop is directly across Michigan Ave, while neighborhood restaurants are nearby. The property is also near The Ohio State University Wexner Medical Center, Short North, Grandview, and Downtown Columbus.
Key Highlights
- Side‑by‑side duplex with 2,100 square feet and two 2‑bedroom townhome‑style units
- Both units updated; one side includes more extensive improvements
- Open layouts with first‑floor laundry and a full bathroom in each unit
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
$17,882
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
3.06%
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%
$357,640
$357.6K
Cap Rate 7%
$255,457
$255.5K
Cap Rate 9%
$198,689
$198.7K
Market Conditions
NOI Build-Up for 2,100 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
$27.5K $13.08/SF
− Vacancy
−$1.9K −$0.92/SF
EGI
$25.5K $12.16/SF
− OpEx
−$7.7K −$3.65/SF
NOI
$17.9K $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%
$357,640
Cap Rate 7%
$255,457
Cap Rate 9%
$198,689
Alternative Uses
Best Use
Multifamily LT 5
$255.5K
$223.5K – $298.0K
NOI $17,882 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$205.5K
$179.8K – $239.8K
NOI $14,385 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$437.7K
$383.0K – $510.6K
NOI $30,636 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,460
Businesses Nearby
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
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 - Two townhome-style residences offer open layouts, first-floor laundry, full bathrooms, and private fenced yards.
Where is this duplex located?
The property is located at 1104-1106 Michigan Ave Columbus, OH.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,100 square feet and two 2‑bedroom townhome‑style units; Both units updated; one side includes more extensive improvements; Open layouts with first‑floor laundry and a full bathroom in each unit
