Well-Maintained Brick Multi-Family
For Sale
$559,000
Pending
15-19 Rodgers Avenue, Columbus, OH 43222
Four single-story units, each with 2 bedrooms and 1 bath.
Property Size4,847 SF
Days on Market103
Property Features for 15-19 Rodgers Avenue
General Information
Standard status
Pending
Size
4,847 SF
Property subtype
Multi-Family / Apartment
Net Operating Income
$26,795
Taxes and HOA fees
Annual Taxes
$8,778
Building Details
Year Built
1900
Listing Agency:
Beacon Property Mgmt & Realty
(614) 753-7535
Listed By:
Rosa O'Bannon · License #2017005507
(614) 753-7535
Source:
Compass
Added: May 20
Changed: Aug 8
Last Checked: Jul 24 at 1:38PM
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 Beacon Property Mgmt & Realty
Investment Insights
Based on property information with market context.
This well-maintained brick multi-family property features four single-story units. Each unit includes 2 bedrooms, 1 full bath, and a fireplace. The property offers shared basement access, providing convenient laundry facilities and additional storage space. The property is of solid brick construction and has practical layouts. The property size is 4847 square feet. This income-producing property is an excellent investment opportunity for both seasoned and first-time investors, with long-term upside potential.
Key Highlights
- Four single‑story units, each with 2 bedrooms and 1 full bath.
- Strong tenant appeal and income‑producing potential.
- Shared basement with laundry facilities and storage.
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
$41,273
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
7.38%
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%
$825,460
$825.5K
Cap Rate 7%
$589,614
$589.6K
Cap Rate 9%
$458,589
$458.6K
Market Conditions
NOI Build-Up for 4,847 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
$63.4K $13.08/SF
− Vacancy
−$4.4K −$0.92/SF
EGI
$59.0K $12.16/SF
− OpEx
−$17.7K −$3.65/SF
NOI
$41.3K $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 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%
$825,460
Cap Rate 7%
$589,614
Cap Rate 9%
$458,589
Alternative Uses
Best Use
Multifamily LT 5
$589.6K
$515.9K – $687.9K
NOI $41,273 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$474.3K
$415.0K – $553.4K
NOI $33,201 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.01M
$883.9K – $1.18M
NOI $70,710 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
Explore this area
Business Placement
Demographics for 43222, OH
4,124
Population
2,311
Households
1.8
Avg Household Size
34
Median Age
16%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
2,946
Density / Sq Mi
$36,440
Median Earnings
$752
Median Rent
$215,900
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?
Quadplex - Four single-story units, each with 2 bedrooms and 1 bath.
Where is this quadplex located?
The property is located at 15-19 Rodgers Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Four single‑story units, each with 2 bedrooms and 1 full bath.; Strong tenant appeal and income‑producing potential.; Shared basement with laundry facilities and storage.
