Vacant Duplex Near Linden
For Sale
$200,000
1477-1479 Republic Ave, Columbus, OH 43211
Two vacant units provide a renovation candidate with access to nearby amenities and public transportation.
Property Size2,240 SF
Price / SF$89.29
Days on Market18
Property Features for 1477-1479 Republic Ave
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs some work
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1928
Buildings
1
Listing Agency:
Ross Digiorgio, The Westwood Real Estate Co
(614) 226-1039
Listed By:
Rhiannon Ferrari
(614) 226-1039
Source:
Ferrarihomegroup
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 28 at 10:15AM
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 Ross Digiorgio, The Westwood Real Estate Co
Investment Insights
Based on property information with market context.
Located at 1477-1479 Republic Ave in Columbus, this duplex contains 2,240 square feet and was built in 1928. Both units are vacant, allowing a new owner to address the property’s renovation needs without an existing occupancy schedule.
The interior layout includes three bedrooms and two living room areas. Linden Park is located nearby, with access to amenities and public transportation in the surrounding area. The property offers a duplex configuration in a residential setting with existing space to rework and improve.
The interior layout includes three bedrooms and two living room areas. Linden Park is located nearby, with access to amenities and public transportation in the surrounding area. The property offers a duplex configuration in a residential setting with existing space to rework and improve.
Key Highlights
- 2,240‑square‑foot duplex in Columbus
- Both units are vacant
- Three bedrooms and two living room areas
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
$15,344
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
7.67%
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%
$306,880
$306.9K
Cap Rate 7%
$219,200
$219.2K
Cap Rate 9%
$170,489
$170.5K
Market Conditions
NOI Build-Up for 2,240 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
$29.8K $13.32/SF
− Vacancy
−$1.9K −$0.87/SF
EGI
$27.9K $12.45/SF
− OpEx
−$12.6K −$5.60/SF
NOI
$15.3K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$306,880
Cap Rate 7%
$219,200
Cap Rate 9%
$170,489
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.4K – $317.9K
NOI $19,074 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$219.2K
$191.8K – $255.7K
NOI $15,344 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$466.8K
$408.5K – $544.6K
NOI $32,678 @ 7.0% cap · market cap 16.34%
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
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 43211, OH
23,160
Population
9,956
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
77%
High-School Grad
4.7 sq mi
ZIP Area
4,928
Density / Sq Mi
$38,715
Median Household Income
$28,601
Median Earnings
$1,057
Median Rent
$91,600
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 - Two vacant units provide a renovation candidate with access to nearby amenities and public transportation.
Where is this duplex located?
The property is located at 1477-1479 Republic Ave Columbus, OH.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 2,240‑square‑foot duplex in Columbus; Both units are vacant; Three bedrooms and two living room areas
