Historic Duplex in Columbus,
For Sale
Contact for pricing
1532 Clifton Avenue, Columbus, OH 43203
Charming 1919 duplex with renovation potential.
Property Size2,688 SF
Price / SF$107.51
Days on Market114
Property Features for 1532 Clifton Avenue
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multifamily
Building Details
Year Built
1919
Units
2
Listing Agency:
Chosen Real Estate Group
(330) 249-3499
Listed By:
Nicholas Huscroft · License #2022001015
Source:
Crexi
Added: May 10
Changed: Aug 27
Last Checked: Aug 28 at 11:15PM
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 Chosen Real Estate Group
Investment Insights
Based on property information with market context.
Located at 1532 & 1534 Clifton Ave in Columbus, OH, this historic duplex, constructed in 1919, presents an opportunity for owner-occupancy or investment. The property, suitable for potential conversion into condominiums, features a double side-by-side townhome layout. Each unit includes 2 bedrooms, 2 full bathrooms, and 2 half bathrooms, totaling 2,688 square feet of space. One side of the duplex has been renovated and is currently rented. The other side is vacant and requires cosmetic renovation. The property is being sold As Is.
Key Highlights
- Great investment opportunity with potential for owner‑occupancy or condominium conversion.
- Each unit features 2 bedrooms, 2 full bathrooms, and 2 half bathrooms.
- Renovated unit is currently rented, providing immediate income.
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
$22,889
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
7.92%
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%
$457,780
$457.8K
Cap Rate 7%
$326,986
$327.0K
Cap Rate 9%
$254,322
$254.3K
Market Conditions
NOI Build-Up for 2,688 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
$35.2K $13.08/SF
− Vacancy
−$2.5K −$0.92/SF
EGI
$32.7K $12.16/SF
− OpEx
−$9.8K −$3.65/SF
NOI
$22.9K $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%
$457,780
Cap Rate 7%
$326,986
Cap Rate 9%
$254,322
Alternative Uses
Best Use
Multifamily LT 5
$327.0K
$286.1K – $381.5K
NOI $22,889 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$263.0K
$230.2K – $306.9K
NOI $18,412 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$560.2K
$490.2K – $653.6K
NOI $39,213 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,143
Businesses Nearby
Explore this area
Business Placement
Demographics for 43203, OH
8,726
Population
5,301
Households
1.6
Avg Household Size
32
Median Age
30%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
6,233
Density / Sq Mi
$44,099
Median Household Income
$36,918
Median Earnings
$930
Median Rent
$282,100
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 - Charming 1919 duplex with renovation potential.
Where is this duplex located?
The property is located at 1532 Clifton Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Great investment opportunity with potential for owner‑occupancy or condominium conversion.; Each unit features 2 bedrooms, 2 full bathrooms, and 2 half bathrooms.; Renovated unit is currently rented, providing immediate income.
