Fully Occupied
New
For Sale
$319,900
1144 Oakwood Ave, Columbus, OH 43206
Two leased residences offer spacious kitchens, central air, hardwood floors, and convenient access to major Columbus destinations.
Property Size2,220 SF
Price / SF$144.10
Days on Market3
Property Features for 1144 Oakwood Ave
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
covered front porch
rear privacy fence
central air
hardwood flooring
original solid wood doors
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Jacob Silvermetz, Silvermetz Real Estate Corp
Listed By:
Contact LOCAL Agent
(614) 291-1200
Source:
Realtyohio
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 20 at 8:54AM
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 Jacob Silvermetz, Silvermetz Real Estate Corp
Investment Insights
Based on property information with market context.
Built in 1925, this 2,220-square-foot duplex includes two three-bedroom residences, each with a large eat-in kitchen, central air, hardwood flooring, and original solid wood doors. One unit also includes an additional half bath in a partially finished basement. Both residences are currently leased, and tenants pay gas and electric. Professional management is in place.
The property occupies a large corner lot with a covered front porch and fenced rear area. Its Columbus location provides access to Nationwide Children's Hospital, Downtown Columbus, German Village, nearby employment, dining, and entertainment. The combination of two established residential units, period character, and existing occupancy creates a practical multifamily configuration.
The property occupies a large corner lot with a covered front porch and fenced rear area. Its Columbus location provides access to Nationwide Children's Hospital, Downtown Columbus, German Village, nearby employment, dining, and entertainment. The combination of two established residential units, period character, and existing occupancy creates a practical multifamily configuration.
Key Highlights
- 2,220 SF duplex built in 1925
- Two 3‑bedroom units, both currently rented
- Large eat‑in kitchens, central air, and hardwood flooring in both units
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
$18,903
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
5.91%
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%
$378,060
$378.1K
Cap Rate 7%
$270,043
$270.0K
Cap Rate 9%
$210,033
$210.0K
Market Conditions
NOI Build-Up for 2,220 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
$29.0K $13.08/SF
− Vacancy
−$2.0K −$0.92/SF
EGI
$27.0K $12.16/SF
− OpEx
−$8.1K −$3.65/SF
NOI
$18.9K $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%
$378,060
Cap Rate 7%
$270,043
Cap Rate 9%
$210,033
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.1K
NOI $18,903 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$217.2K
$190.1K – $253.5K
NOI $15,207 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$462.7K
$404.8K – $539.8K
NOI $32,386 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
370
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 leased residences offer spacious kitchens, central air, hardwood floors, and convenient access to major Columbus destinations.
Where is this duplex located?
The property is located at 1144 Oakwood Ave Columbus, OH.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 2,220 SF duplex built in 1925; Two 3‑bedroom units, both currently rented; Large eat‑in kitchens, central air, and hardwood flooring in both units
