Columbus Duplex: Investment
For Sale
$199,900
Pending
1418-1422 Miller Avenue, Columbus, OH 43206
Multi-unit property with investment potential in Columbus, Ohio.
Property Size1,792 SF
Days on Market770
Property Features for 1418-1422 Miller Avenue
General Information
Standard status
Pending
Size
1,792 SF
Property subtype
Multi-Family / Duplex
Taxes and HOA fees
Annual Taxes
$3,287
Amenities
Central Air
Forced Air
Electric
Yes
Building Details
Year Built
1950
Listing Agency:
Mainstay Brokerage LLC
Listed By:
Eva Marie Hockenberry · License #2022006228
(704) 859-2176
Source:
Compass
Added: Sep 12, 2024
Changed: Oct 13
Last Checked: Oct 20 at 11:31PM
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 Mainstay Brokerage LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-unit property presents a blend of comfortable living space and investment potential. The duplex features two units, each containing two bedrooms and one bathroom. One unit is currently occupied by a tenant, and the existing lease will transfer with the sale of the property. This property offers versatility, suitable for either homeownership with rental income or as a dedicated investment property.
Key Highlights
- Duplex offers both living space and investment opportunity.
- Each unit features two bedrooms and one bathroom.
- Existing tenant in one unit provides immediate rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,259
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,180
$305.2K
Cap Rate 7%
$217,986
$218.0K
Cap Rate 9%
$169,544
$169.5K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$23.4K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.8K $12.16/SF
− OpEx
−$6.5K −$3.65/SF
NOI
$15.3K $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 Rate 5%
$305,180
Cap Rate 7%
$217,986
Cap Rate 9%
$169,544
Alternative Uses
Best Use
Multifamily LT 5
$218.0K
$190.7K – $254.3K
NOI $15,259 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$175.4K
$153.4K – $204.6K
NOI $12,275 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$373.5K
$326.8K – $435.7K
NOI $26,142 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Location Intelligence
Trade Area within ½ mile
294
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Multi-unit property with investment potential in Columbus, Ohio.
Where is this duplex located?
The property is located at 1418-1422 Miller Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Duplex offers both living space and investment opportunity.; Each unit features **two bedrooms and one bathroom.**; Existing tenant in one unit provides **immediate rental income.**
