Renovated Duplex with Attached
For Sale
$289,900
Pending
4066 Greenery Dr, Columbus, OH 43207
Two-unit residential property with separate garages, tenant-paid utilities, and one side updated throughout in 2024.
Property Size1,968 SF
Days on Market24
Property Features for 4066 Greenery Dr
General Information
Standard status
Pending
Size
1,968 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1988
Buildings
1
Tenancy
Multi
Listing Agency:
Ashley Todaro, The Brokerage House
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Aug 13
Changed: Sep 4
Last Checked: Sep 4 at 5:31AM
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 Ashley Todaro, The Brokerage House
Investment Insights
Based on property information with market context.
This duplex, constructed in 1988, contains two residential units with matching layouts: each offers two bedrooms, one full bathroom, and a one-car attached garage. Unit 4066 underwent a complete renovation in 2024, with new components throughout. Unit 4068 is occupied by a long-term tenant and received HVAC replacement in 2026.
Tenants pay their own utilities and maintain the lawn, providing a straightforward operating arrangement. The property is in the Groveport area of Columbus with access to I-270. Both units are reported to have timely rent payments.
Tenants pay their own utilities and maintain the lawn, providing a straightforward operating arrangement. The property is in the Groveport area of Columbus with access to I-270. Both units are reported to have timely rent payments.
Key Highlights
- Two‑unit duplex built in 1988
- Each unit includes 2 bedrooms, 1 full bath, and a one‑car attached garage
- Unit 4066 was completely renovated in 2024
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
$22,172
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
7.65%
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%
$443,440
$443.4K
Cap Rate 7%
$316,743
$316.7K
Cap Rate 9%
$246,356
$246.4K
Market Conditions
NOI Build-Up for 1,968 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
$34.2K $17.40/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$31.7K $16.10/SF
− OpEx
−$9.5K −$4.83/SF
NOI
$22.2K $11.27/SF
Area
ZIP 43207
Vacancy
7.50%
Lease Rate
$17.40 /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%
$443,440
Cap Rate 7%
$316,743
Cap Rate 9%
$246,356
Alternative Uses
Best Use
Multifamily LT 5
$316.7K
$277.2K – $369.5K
NOI $22,172 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$290.5K
$254.2K – $339.0K
NOI $20,337 @ 7.0% cap · market cap 7.02%
Theoretical Best
Warehouse
$396.7K
$347.1K – $462.8K
NOI $27,766 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
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 - Two-unit residential property with separate garages, tenant-paid utilities, and one side updated throughout in 2024.
Where is this duplex located?
The property is located at 4066 Greenery Dr Columbus, OH.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1988; Each unit includes 2 bedrooms, 1 full bath, and a one‑car attached garage; Unit 4066 was completely renovated in 2024
