Updated Two-Unit
For Sale
$260,000
15981600 1598-1600 E Livingston Ave Unit 1600, Columbus, OH 43205
Two matching residential units provide a consistent layout for multifamily ownership.
Property Size2,240 SF
Price / SF$116.07
Days on Market8
Property Features for 15981600 1598-1600 E Livingston Ave Unit 1600
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Mainstay Brokerage LLC
(704) 859-2176
Listed By:
Eva Marie Hockenberry · License #367943
Source:
Thelorilynngroup
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 12:12PM
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
Investment Insights
Based on property information with market context.
This updated duplex contains 2,240 square feet across two matching units. Each residence includes three bedrooms and one-and-a-half bathrooms, providing the same configuration on both sides of the property. Built in 1920, the building offers an established residential format for a multifamily buyer.
The property is located on E Livingston Ave in Columbus, near downtown Columbus, German Village, and major employers. Its two-unit arrangement and uniform floor plans create a straightforward operating structure for residential income ownership.
The property is located on E Livingston Ave in Columbus, near downtown Columbus, German Village, and major employers. Its two-unit arrangement and uniform floor plans create a straightforward operating structure for residential income ownership.
Key Highlights
- 2,240‑square‑foot duplex with two matching units
- Each unit includes 3 bedrooms and 1.5 bathrooms
- Updated property built in 1920
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
$19,074
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
7.34%
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%
$381,480
$381.5K
Cap Rate 7%
$272,486
$272.5K
Cap Rate 9%
$211,933
$211.9K
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
$29.3K $13.08/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$27.2K $12.16/SF
− OpEx
−$8.2K −$3.65/SF
NOI
$19.1K $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%
$381,480
Cap Rate 7%
$272,486
Cap Rate 9%
$211,933
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.4K – $317.9K
NOI $19,074 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$219.2K
$191.8K – $255.7K
NOI $15,344 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$466.8K
$408.5K – $544.6K
NOI $32,678 @ 7.0% cap · market cap 12.57%
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
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
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 matching residential units provide a consistent layout for multifamily ownership.
Where is this duplex located?
The property is located at 15981600 1598-1600 E Livingston Ave Unit 1600 Columbus, OH.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2,240‑square‑foot duplex with two matching units; Each unit includes 3 bedrooms and 1.5 bathrooms; Updated property built in 1920
