Duplex Two-Bedroom Income
1244 South Ohio Avenue Unit A AND B Columbus, OH 43206
1244 South Ohio Avenue Unit A AND B, Columbus, OH, 43206
$250,000
Pending
For Sale
$250,000
Pending
Two 2-bedroom units with separate gas furnaces and a shared yard, offering one leased home and one ready for lease-up.
Property Size2,040 SF
Days on Market81
Property Features for 1244 South Ohio Avenue Unit A AND B
General Information
- Standard status
- Pending
- Size
- 2,040 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1925
Listing agency
Reafco
(614) 541-8475
Listed by
Remington Lyman · License #2022001862
(614) 541-8475
Source
Compass
Added: May 3 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 6:57AM
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 Reafco
Investment Insights
Based on property information with market context.
This duplex includes two 2-bedroom, 1-bath units arranged in a functional up-and-down layout with a shared entry. Unit A is currently rented and has a lease in place through 6/30/2026, while Unit B is vacant and ready for lease-up or for the next owner’s improvements. Tenants pay gas and electric, and water is billed back based on usage. Each unit is heated by its own gas furnace, and there is no central air conditioning.
The lower unit provides access to a full basement for storage and utility use, which can support day-to-day operating needs. The property also includes a shared yard and offers potential off-street parking accessed from the alley.
For an owner-occupant or investor, the mix of an in-place lease and a unit available for immediate positioning can simplify operational planning. With mechanical systems reported to be in stable condition and no significant capital expenditures noted in the past year, the property is positioned for continued management with clear, utility-billing responsibilities for residents.
The lower unit provides access to a full basement for storage and utility use, which can support day-to-day operating needs. The property also includes a shared yard and offers potential off-street parking accessed from the alley.
For an owner-occupant or investor, the mix of an in-place lease and a unit available for immediate positioning can simplify operational planning. With mechanical systems reported to be in stable condition and no significant capital expenditures noted in the past year, the property is positioned for continued management with clear, utility-billing responsibilities for residents.
Key Highlights
- Duplex built in 1925 with two 2‑bedroom, 1‑bath units in an up‑and‑down layout and shared entry
- Unit A is leased at $1,100/month with a lease in place through 6/30/2026
- Unit B is currently vacant and ready for lease‑up or the next owner’s improvements
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 | $26.7k | $13.08 |
| − Vacancy | −$1.9k | −$0.92 |
| EGI | $24.8k | $12.16 |
| − OpEx | −$7.4k | −$3.65 |
| NOI | $17.4k | $8.52 |
2,040 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$248.2K
$217.1K – $289.5K
NOI $17,371 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$199.6K
$174.7K – $232.9K
NOI $13,974 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$425.1K
$372.0K – $496.0K
NOI $29,760 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two 2-bedroom units with separate gas furnaces and a shared yard, offering one leased home and one ready for lease-up.
Where is this duplex located?
The property is located at 1244 South Ohio Avenue Unit A AND B Columbus, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex built in 1925 with two 2‑bedroom, 1‑bath units in an up‑and‑down layout and shared entry; Unit A is leased at $1,100/month with a lease in place through 6/30/2026; Unit B is currently vacant and ready for lease‑up or the next owner’s improvements
