Side-by-Side Townhouse
For Sale
$250,000
625-627 Wrexham Ave, Columbus, OH 43223
Vacant two-unit property with private basements, fenced yards, and dedicated off-street parking.
Property Size1,740 SF
Price / SF$143.68
Days on Market39
Property Features for 625-627 Wrexham Ave
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
2
Amenities
basement
fenced backyard
Building Details
Year Built
1963
Buildings
1
Construction
stucco
Listing Agency:
Alicia Sweazy, RE/MAX Partners
(740) 389-2000
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 29 at 9:05AM
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 1,740-square-foot duplex contains two matching townhouse-style units within a stucco building constructed in 1963. Each residence has two bedrooms, one full bathroom, a main-level living room, and a kitchen, with the bedrooms and bath arranged upstairs. Both units have been freshly painted and are currently vacant.
Each side includes a full unfinished basement, offering storage space and laundry hookups, along with a fenced backyard and two dedicated off-street parking spaces. The property is located at 625-627 Wrexham Ave in Columbus, Ohio, with separate layouts that support owner occupancy or leasing of both units.
Each side includes a full unfinished basement, offering storage space and laundry hookups, along with a fenced backyard and two dedicated off-street parking spaces. The property is located at 625-627 Wrexham Ave in Columbus, Ohio, with separate layouts that support owner occupancy or leasing of both units.
Key Highlights
- Two‑unit side‑by‑side townhouse duplex at 625‑627 Wrexham Ave, Columbus, OH 43223
- Each unit includes 2 bedrooms and 1 bathroom
- 1,740 SF building constructed in 1963
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
$14,816
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
5.93%
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%
$296,320
$296.3K
Cap Rate 7%
$211,657
$211.7K
Cap Rate 9%
$164,622
$164.6K
Market Conditions
NOI Build-Up for 1,740 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
$22.8K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.2K $12.16/SF
− OpEx
−$6.3K −$3.65/SF
NOI
$14.8K $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%
$296,320
Cap Rate 7%
$211,657
Cap Rate 9%
$164,622
Alternative Uses
Best Use
Multifamily LT 5
$211.7K
$185.2K – $246.9K
NOI $14,816 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$170.3K
$149.0K – $198.7K
NOI $11,919 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$362.6K
$317.3K – $423.1K
NOI $25,384 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
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 two-unit property with private basements, fenced yards, and dedicated off-street parking.
Where is this duplex located?
The property is located at 625-627 Wrexham Ave Columbus, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side townhouse duplex at 625‑627 Wrexham Ave, Columbus, OH 43223; Each unit includes 2 bedrooms and 1 bathroom; 1,740 SF building constructed in 1963
