Remodeled Two-Unit
New
For Sale
$349,000
1321 Studer Ave, Columbus, OH 43206
Occupied duplex with updated interiors, major systems, fenced outdoor space, and a detached garage near German Village.
Property Size2,050 SF
Price / SF$170.24
Days on Market5
Property Features for 1321 Studer Ave
General Information
Standard status
Active
Size
2,050 SF
Property subtype
Multi-Family
Building Details
Year Built
1954
Listing Agency:
Eric Gute, Associates Realty
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 9:46AM
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 Eric Gute, Associates Realty
Investment Insights
Based on property information with market context.
This 2,050-square-foot duplex contains two separate units, each with 2 bedrooms, 1 bathroom, updated kitchens with stainless steel appliances, and refreshed flooring. The property was built in 1954 and comprehensively renovated in 2018, including replacement of the roof, HVAC systems, and windows. Both residences are currently occupied.
Exterior features include a fully fenced backyard and a detached 2-car garage, providing additional storage and parking capacity. The property is located at 1321 Studer Ave in Columbus, Ohio, within blocks of German Village and downtown Columbus. Its two-unit configuration, completed system updates, and existing occupancy support continued residential rental use.
Exterior features include a fully fenced backyard and a detached 2-car garage, providing additional storage and parking capacity. The property is located at 1321 Studer Ave in Columbus, Ohio, within blocks of German Village and downtown Columbus. Its two-unit configuration, completed system updates, and existing occupancy support continued residential rental use.
Key Highlights
- Two‑unit duplex totaling 2,050 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- 2018 updates include roof, HVAC systems, windows, and flooring
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
$17,456
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
5.00%
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%
$349,120
$349.1K
Cap Rate 7%
$249,371
$249.4K
Cap Rate 9%
$193,956
$194.0K
Market Conditions
NOI Build-Up for 2,050 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
$26.8K $13.08/SF
− Vacancy
−$1.9K −$0.92/SF
EGI
$24.9K $12.16/SF
− OpEx
−$7.5K −$3.65/SF
NOI
$17.5K $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%
$349,120
Cap Rate 7%
$249,371
Cap Rate 9%
$193,956
Alternative Uses
Best Use
Multifamily LT 5
$249.4K
$218.2K – $290.9K
NOI $17,456 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$200.6K
$175.5K – $234.0K
NOI $14,042 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$427.2K
$373.8K – $498.4K
NOI $29,906 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
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 - Occupied duplex with updated interiors, major systems, fenced outdoor space, and a detached garage near German Village.
Where is this duplex located?
The property is located at 1321 Studer Ave Columbus, OH.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,050 square feet; Each unit includes 2 bedrooms and 1 bathroom; 2018 updates include roof, HVAC systems, windows, and flooring
