Updated Duplex with Off-Street
For Sale
$399,990
Pending
1306-1308 Wilson Ave, Columbus, OH 43206
Fully leased two-unit property with refreshed exterior systems and a rear parking area serving four vehicles.
Property Size2,352 SF
Days on Market35
Property Features for 1306-1308 Wilson Ave
General Information
Standard status
Pending
Size
2,352 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
Alicia Sweazy, RE/MAX Partners
(740) 389-2000
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 28 at 10:13AM
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 Alicia Sweazy, RE/MAX Partners
Investment Insights
Based on property information with market context.
This two-unit residential income property contains 2,352 square feet and was built in 1925. Both units are leased, offering an in-place occupancy profile for an owner seeking a maintained duplex. The property’s major improvements include a new roof, siding, windows, and updated mechanical systems, while the interiors have been carefully maintained.
A newly poured rear concrete parking pad provides off-street parking for 4 cars. Unit 1306 is leased through March 2027, and unit 1308 has a long-term tenancy extending through March 2027. Located in Southern Orchards at 1306-1308 Wilson Ave, Columbus, OH 43206, the building can support an owner-occupant strategy or continued portfolio ownership, as described for the property.
A newly poured rear concrete parking pad provides off-street parking for 4 cars. Unit 1306 is leased through March 2027, and unit 1308 has a long-term tenancy extending through March 2027. Located in Southern Orchards at 1306-1308 Wilson Ave, Columbus, OH 43206, the building can support an owner-occupant strategy or continued portfolio ownership, as described for the property.
Key Highlights
- 2,352‑square‑foot duplex built in 1925
- Both units are leased through March 2027
- New roof, siding, and windows
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
$20,027
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
5.01%
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%
$400,540
$400.5K
Cap Rate 7%
$286,100
$286.1K
Cap Rate 9%
$222,522
$222.5K
Market Conditions
NOI Build-Up for 2,352 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
$30.8K $13.08/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$28.6K $12.16/SF
− OpEx
−$8.6K −$3.65/SF
NOI
$20.0K $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%
$400,540
Cap Rate 7%
$286,100
Cap Rate 9%
$222,522
Alternative Uses
Best Use
Multifamily LT 5
$286.1K
$250.3K – $333.8K
NOI $20,027 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$230.2K
$201.4K – $268.5K
NOI $16,111 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$490.2K
$428.9K – $571.9K
NOI $34,312 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
347
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 - Fully leased two-unit property with refreshed exterior systems and a rear parking area serving four vehicles.
Where is this duplex located?
The property is located at 1306-1308 Wilson Ave Columbus, OH.
What is the asking price?
The asking price for this property is $399,990.
What are key features of this property?
This property features: 2,352‑square‑foot duplex built in 1925; Both units are leased through March 2027; New roof, siding, and windows
