Remodeled Furnished
New
For Sale
$519,000
266 Miller Ave, Columbus, OH 43205
Two distinct residential sides combine remodeled interiors with furnishings, appliances, linens, and decor.
Property Size2,256 SF
Price / SF$230.05
Days on Market2
Property Features for 266 Miller Ave
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Multi-Family
Net Operating Income
$60,000
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Kellie Barter, Weichert, Realtors - R.E. 1790
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Sep 5
Last Checked: Sep 5 at 6:29AM
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 Kellie Barter, Weichert, Realtors - R.E. 1790
Investment Insights
Based on property information with market context.
This duplex presents two separately styled residential sides, including a garden townhome-style layout on one side and an OSU-themed interior on the other. Both sides have been remodeled within the last 3 years, and the property includes furniture, tableware, appliances, sheets, linens, and decor.
Built in 1900, the property is located at 266 Miller Avenue and 268 in Columbus, Ohio. Its two-unit configuration supports residential occupancy on both sides, with the existing furnished setup offering a defined approach for an owner-occupant or investor. The property is classified as a duplex and is offered for sale.
Built in 1900, the property is located at 266 Miller Avenue and 268 in Columbus, Ohio. Its two-unit configuration supports residential occupancy on both sides, with the existing furnished setup offering a defined approach for an owner-occupant or investor. The property is classified as a duplex and is offered for sale.
Key Highlights
- Two‑unit duplex at 266 Miller Avenue and 268, Columbus, OH 43205
- Both sides remodeled within the last 3 years
- Garden townhome‑style design on one side
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
$19,210
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
3.70%
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%
$384,200
$384.2K
Cap Rate 7%
$274,429
$274.4K
Cap Rate 9%
$213,444
$213.4K
Market Conditions
NOI Build-Up for 2,256 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
$29.5K $13.08/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$27.4K $12.16/SF
− OpEx
−$8.2K −$3.65/SF
NOI
$19.2K $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%
$384,200
Cap Rate 7%
$274,429
Cap Rate 9%
$213,444
Alternative Uses
Best Use
Multifamily LT 5
$274.4K
$240.1K – $320.2K
NOI $19,210 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$220.8K
$193.2K – $257.6K
NOI $15,453 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$470.2K
$411.4K – $548.5K
NOI $32,911 @ 7.0% cap · market cap 6.34%
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
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
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 distinct residential sides combine remodeled interiors with furnishings, appliances, linens, and decor.
Where is this duplex located?
The property is located at 266 Miller Ave Columbus, OH.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two‑unit duplex at 266 Miller Avenue and 268, Columbus, OH 43205; Both sides remodeled within the last 3 years; Garden townhome‑style design on one side
