Two-Unit
New
For Sale
$180,000
1222-24 E 26th Ave, Columbus, OH 43211
Each residence offers a two-bedroom, one-bathroom layout, and both are currently occupied.
Property Size1,792 SF
Price / SF$100.45
Days on Market6
Property Features for 1222-24 E 26th Ave
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$24,000
Average Monthly Rent
$1,000
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1951
Tenancy
Multi
Listing Agency:
Tonya Fisher, Key Realty
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 2 at 8:28PM
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 Tonya Fisher, Key Realty
Investment Insights
Based on property information with market context.
This 1,792-square-foot duplex, built in 1951, contains two residences with two bedrooms and one full bathroom apiece. LVP and wood flooring are present throughout. The property is being sold as-is and comprises two separate parcels. A newer hot water tank serves 1222.
Both units are occupied. The lease at 1222 expires 11/26, while the lease at 1224 expires 6/27.
Both units are occupied. The lease at 1222 expires 11/26, while the lease at 1224 expires 6/27.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1,792 square feet across two separate parcels
- Both units occupied; 1222 lease expires 11/26 and 1224 lease expires 6/27
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
$15,259
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
8.48%
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%
$305,180
$305.2K
Cap Rate 7%
$217,986
$218.0K
Cap Rate 9%
$169,544
$169.5K
Market Conditions
NOI Build-Up for 1,792 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
$23.4K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.8K $12.16/SF
− OpEx
−$6.5K −$3.65/SF
NOI
$15.3K $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%
$305,180
Cap Rate 7%
$217,986
Cap Rate 9%
$169,544
Alternative Uses
Best Use
Multifamily LT 5
$218.0K
$190.7K – $254.3K
NOI $15,259 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$175.4K
$153.4K – $204.6K
NOI $12,275 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$373.5K
$326.8K – $435.7K
NOI $26,142 @ 7.0% cap · market cap 14.52%
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
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 43211, OH
23,160
Population
9,956
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
77%
High-School Grad
4.7 sq mi
ZIP Area
4,928
Density / Sq Mi
$38,715
Median Household Income
$28,601
Median Earnings
$1,057
Median Rent
$91,600
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 - Each residence offers a two-bedroom, one-bathroom layout, and both are currently occupied.
Where is this duplex located?
The property is located at 1222-24 E 26th Ave Columbus, OH.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 1,792 square feet across two separate parcels; Both units occupied; 1222 lease expires 11/26 and 1224 lease expires 6/27
