Italian Village Occupied
For Sale
$525,250
Pending
143 East 3rd Avenue, Columbus, OH 43201
Italian Village duplex with front porch and fenced backyard.
Property Size2,464 SF
Days on Market117
Property Features for 143 East 3rd Avenue
General Information
Standard status
Pending
Size
2,464 SF
Property subtype
Multi-Family / Duplex
Taxes and HOA fees
Annual Taxes
$7,525
Amenities
Central Air
Forced Air
Gas
Yes
Building Details
Year Built
1900
Listing Agency:
Cutler Real Estate
(614) 679-2814
Listed By:
Eric W Gledhill · License #2005008010
(614) 679-2814
Source:
Compass
Added: May 7
Changed: Aug 8
Last Checked: Jul 24 at 3:15PM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This is a duplex located in Italian Village. Each side features 3 bedrooms and 1.5 baths. The property includes a front porch and a fenced-in backyard. Each unit has access to a single-car garage. The property is 100% occupied, with tenants responsible for all utilities. The property generates an annual income of $51,600. The property size is 2464 square feet.
Key Highlights
- Annual income of $51,600
- 100% Occupied
- Italian Village Double
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
$20,981
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
3.99%
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%
$419,620
$419.6K
Cap Rate 7%
$299,729
$299.7K
Cap Rate 9%
$233,122
$233.1K
Market Conditions
NOI Build-Up for 2,464 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
$32.2K $13.08/SF
− Vacancy
−$2.3K −$0.92/SF
EGI
$30.0K $12.16/SF
− OpEx
−$9.0K −$3.65/SF
NOI
$21.0K $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%
$419,620
Cap Rate 7%
$299,729
Cap Rate 9%
$233,122
Alternative Uses
Best Use
Multifamily LT 5
$299.7K
$262.3K – $349.7K
NOI $20,981 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$241.1K
$211.0K – $281.3K
NOI $16,878 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$513.5K
$449.3K – $599.1K
NOI $35,946 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Italian Village duplex with front porch and fenced backyard.
Where is this duplex located?
The property is located at 143 East 3rd Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $525,250.
What are key features of this property?
This property features: Annual income of $51,600; 100% Occupied; Italian Village Double
