Historic Duplex with Fenced
For Sale
$174,900
139 Columbus Street, Dayton, OH 45403
ResidentialIncome, Dayton, OH
Property Size1,464 SF
Lot Size0.03 Acres
Price / SF$119.47
Days on Market72
Property Features for 139 Columbus Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multiple
Zoning description
Multiple
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Garage
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Appliances
Dryer, Range, Refrigerator, Washer, GasWaterHeater
Subdivision
City/Dayton
Elementary school district
Dayton
Middle school district
Dayton
High school district
Dayton
Standard status
Active
APN
R72-01210-0079
Size
1,464 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
5484 PT
Legal Description
5484 PT
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
fenced yard
front porch
Building Details
Year built
1919
Floors in Building
2
Number of units
2
Building materials
WoodSiding
Listing Agency:
Comey & Shepherd REALTORS
(937) 689-1013
Listed By:
Miranda K Biedenharn
(513) 319-4103
Added: Jul 6
Changed: Sep 14
Last Checked: Sep 15 at 7:06PM
MLS# 963454
Copyright © 2026 Dayton Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1919, this 1,464-square-foot duplex in Dayton’s Huffman Historic District offers a two-level residential layout with separate apartments. The lower unit contains two bedrooms, one bathroom, laundry, high ceilings, and distinctive checkered flooring. The upper apartment includes one bedroom and one bathroom and is subject to a one-year lease.
The property includes a fenced yard, front porch, garage, wood siding, public water, forced-air natural-gas heating, and window-unit cooling. Updates include windows installed approximately 5 years ago, a furnace approximately 5 years old, and a new furnace flue pipe. The owner currently pays the water bill. Showings require 24-hour notice, and surveillance equipment is present but does not convey.
The property includes a fenced yard, front porch, garage, wood siding, public water, forced-air natural-gas heating, and window-unit cooling. Updates include windows installed approximately 5 years ago, a furnace approximately 5 years old, and a new furnace flue pipe. The owner currently pays the water bill. Showings require 24-hour notice, and surveillance equipment is present but does not convey.
Key Highlights
- 1,464‑square‑foot duplex built in 1919
- Located in Dayton’s Huffman Historic District
- Lower unit includes 2 bedrooms, 1 bathroom, laundry, high ceilings, and checkered 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
$15,687
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
8.97%
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%
$313,740
$313.7K
Cap Rate 7%
$224,100
$224.1K
Cap Rate 9%
$174,300
$174.3K
Market Conditions
NOI Build-Up for 1,464 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
$23.7K $16.20/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$22.4K $15.31/SF
− OpEx
−$6.7K −$4.59/SF
NOI
$15.7K $10.72/SF
Area
Dayton, OH
Vacancy
5.51%
Lease Rate
$16.20 /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%
$313,740
Cap Rate 7%
$224,100
Cap Rate 9%
$174,300
Alternative Uses
Best Use
Multifamily LT 5
$224.1K
$196.1K – $261.5K
NOI $15,687 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$205.4K
$179.8K – $239.7K
NOI $14,381 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$312.0K
$273.0K – $364.0K
NOI $21,841 @ 7.0% cap · market cap 12.49%
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
823
Businesses Nearby
Explore this area
Business Placement
Demographics for 45403, OH
15,130
Population
7,429
Households
2
Avg Household Size
35
Median Age
11%
College-Educated
76%
High-School Grad
3.1 sq mi
ZIP Area
4,881
Density / Sq Mi
$36,250
Median Household Income
$33,438
Median Earnings
$742
Median Rent
$73,900
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 - Two-unit property with a leased upper apartment, updated mechanical systems, porch, garage, and fenced outdoor space.
Where is this duplex located?
The property is located at 139 Columbus Street Dayton, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: 1,464‑square‑foot duplex built in 1919; Located in Dayton’s Huffman Historic District; Lower unit includes 2 bedrooms, 1 bathroom, laundry, high ceilings, and checkered flooring
