Vacant Duplex with Updated
For Sale
$212,000
104-106 N Hague Ave, Columbus, OH 43204
Vacant 3-bedroom units with updated flooring and fixtures, plus basements and attic space for potential expansion.
Property Size2,576 SF
Price / SF$82.30
Days on Market93
Property Features for 104-106 N Hague Ave
General Information
Standard status
Active
Size
2,576 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Adam Woodring, Mainstay Brokerage LLC
Listed By:
Contact LOCAL Agent
(614) 291-1200
Source:
Realtyohio
Added: Jun 4
Changed: Sep 3
Last Checked: Sep 4 at 5:57AM
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 Adam Woodring, Mainstay Brokerage LLC
Investment Insights
Based on property information with market context.
This duplex includes two separate residential units, with both now vacant and ready for a new owner. Each unit offers three bedrooms and one bathroom, along with updated LVP flooring, fresh paint, and modern kitchen and bath fixtures. The layout also includes a basement for additional storage, and each unit has attic space that may be finished to create an additional bedroom and bathroom.
The property is located at 104-106 North Hague Avenue in the North Hilltop neighborhood of Columbus, Ohio. The current owner is completing turnover work, and updated photos are expected to be available soon, which can help prospective buyers review the finishes as the property comes together.
For investors or owner-occupants looking for a duplex with immediate move-in/turnover readiness, the combination of vacancy and interior updates can simplify the early steps of stabilizing the property. The included basements provide practical storage, and the attic space offers a potential route to add living area through additional finished bedrooms and a second bath, subject to the buyer’s plans and approvals.
The property is located at 104-106 North Hague Avenue in the North Hilltop neighborhood of Columbus, Ohio. The current owner is completing turnover work, and updated photos are expected to be available soon, which can help prospective buyers review the finishes as the property comes together.
For investors or owner-occupants looking for a duplex with immediate move-in/turnover readiness, the combination of vacancy and interior updates can simplify the early steps of stabilizing the property. The included basements provide practical storage, and the attic space offers a potential route to add living area through additional finished bedrooms and a second bath, subject to the buyer’s plans and approvals.
Key Highlights
- Duplex built in 1920 with both units currently vacant
- Each unit features 3 bedrooms and 1 bathroom
- Updates include updated LVP flooring, fresh paint, and modern kitchen and bath fixtures
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
$17,645
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
8.32%
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%
$352,900
$352.9K
Cap Rate 7%
$252,071
$252.1K
Cap Rate 9%
$196,056
$196.1K
Market Conditions
NOI Build-Up for 2,576 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
$34.3K $13.32/SF
− Vacancy
−$2.2K −$0.87/SF
EGI
$32.1K $12.45/SF
− OpEx
−$14.4K −$5.60/SF
NOI
$17.6K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$352,900
Cap Rate 7%
$252,071
Cap Rate 9%
$196,056
Alternative Uses
Best Use
Multifamily LT 5
$313.4K
$274.2K – $365.6K
NOI $21,935 @ 7.0% cap · market cap 10.35%
Second Best
Apartment 5plus
$252.1K
$220.6K – $294.1K
NOI $17,645 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$536.9K
$469.8K – $626.3K
NOI $37,580 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Explore this area
Business Placement
Demographics for 43204, OH
42,315
Population
19,286
Households
2.2
Avg Household Size
35
Median Age
25%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
4,502
Density / Sq Mi
$59,158
Median Household Income
$38,610
Median Earnings
$1,206
Median Rent
$170,900
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 - Vacant 3-bedroom units with updated flooring and fixtures, plus basements and attic space for potential expansion.
Where is this duplex located?
The property is located at 104-106 N Hague Ave Columbus, OH.
What is the asking price?
The asking price for this property is $212,000.
What are key features of this property?
This property features: Duplex built in 1920 with both units currently vacant; Each unit features 3 bedrooms and 1 bathroom; Updates include updated LVP flooring, fresh paint, and modern kitchen and bath fixtures
