Two-Unit Duplex with Parking
New
For Sale
$300,000
132 Dakota Ave, Columbus, OH 43222
The ground-floor residence is vacant and ready for occupancy, while the upstairs home is already occupied.
Property Size2,294 SF
Price / SF$130.78
Days on Market2
Property Features for 132 Dakota Ave
General Information
Standard status
Active
Size
2,294 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA (972 sf), 1 x 4BR/2BA (1322 sf)
Multifamily Units
2
Building Details
Year Built
1903
Listing Agency:
Linda Altomare, Cutler Real Estate
Listed By:
Rhiannon Ferrari
(614) 226-1039
Source:
Ferrarihomegroup
Added: Sep 26
Last Checked: Sep 26 at 6:22AM
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 Linda Altomare, Cutler Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,294 square feet and was built in 1903. The ground-floor residence offers 972 square feet with two bedrooms and one bathroom; its kitchen has wood-tone cabinetry, laminate counters, and stainless steel appliances, including a range, dishwasher, and over-range microwave. Wood-look flooring extends throughout. The 1,322-square-foot upstairs unit has four bedrooms and two bathrooms and is occupied. A concrete parking pad at the rear provides off-street parking, and a covered porch faces the street.
At 132 Dakota Ave in Columbus, the property is minutes from downtown Columbus.
At 132 Dakota Ave in Columbus, the property is minutes from downtown Columbus.
Key Highlights
- Two residences: 972 square feet with 2 bedrooms and 1 bathroom downstairs; 1,322 square feet with 4 bedrooms and 2 bathrooms upstairs
- The ground‑floor unit is vacant; the upstairs residence is occupied
- Kitchen includes a range, dishwasher, and over‑range microwave
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
$19,534
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
6.51%
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%
$390,680
$390.7K
Cap Rate 7%
$279,057
$279.1K
Cap Rate 9%
$217,044
$217.0K
Market Conditions
NOI Build-Up for 2,294 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
$30.0K $13.08/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$27.9K $12.16/SF
− OpEx
−$8.4K −$3.65/SF
NOI
$19.5K $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%
$390,680
Cap Rate 7%
$279,057
Cap Rate 9%
$217,044
Alternative Uses
Best Use
Multifamily LT 5
$279.1K
$244.2K – $325.6K
NOI $19,534 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$224.5K
$196.4K – $261.9K
NOI $15,713 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$478.1K
$418.3K – $557.8K
NOI $33,466 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 43222, OH
4,124
Population
2,311
Households
1.8
Avg Household Size
34
Median Age
16%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
2,946
Density / Sq Mi
$36,440
Median Earnings
$752
Median Rent
$215,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - The ground-floor residence is vacant and ready for occupancy, while the upstairs home is already occupied.
Where is this duplex located?
The property is located at 132 Dakota Ave Columbus, OH.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two residences: 972 square feet with 2 bedrooms and 1 bathroom downstairs; 1,322 square feet with 4 bedrooms and 2 bathrooms upstairs; The ground‑floor unit is vacant; the upstairs residence is occupied; Kitchen includes a range, dishwasher, and over‑range microwave
