Renovated Duplex
For Sale
$299,900
1862 South 6th Street, Columbus, OH 43207
Renovated duplex with two 2-bedroom, 1-bath units, private basements with washer/dryer hookups, and a shared yard.
Property Size1,716 SF
Price / SF$174.77
Days on Market272
Property Features for 1862 South 6th Street
General Information
Standard status
Active
Size
1,716 SF
Property subtype
Multi-Family / Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,769
Amenities
shared yard
on-street parking
washer/dryer hookups
granite countertops
Window Unit(s)
Forced Air
Gas
Yes
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Rich Russo Realty & Co.
(614) 937-8699
Listed By:
Richard Russo · License #0700427811
(614) 937-8699
Source:
Compass
Added: Dec 1, 2025
Changed: Aug 23
Last Checked: Aug 29 at 2:56PM
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 Rich Russo Realty & Co.
Investment Insights
Based on property information with market context.
This renovated duplex offers two spacious units, each with two bedrooms and one full bath. Updated kitchens include granite countertops, and the full bath for each unit is located on the main level. Both units also include private basements with washer and dryer hookups for added storage and in-home convenience.
The property is fully occupied, providing immediate rental performance. Unit 1862 is leased through 1/31/27, while unit 1864 is on a month-to-month basis. Tenants pay their own utilities, and the duplex includes a shared yard and on-street parking.
With its south side location near everyday amenities and transportation, the property is positioned to support practical tenant access and neighborhood convenience.
The property is fully occupied, providing immediate rental performance. Unit 1862 is leased through 1/31/27, while unit 1864 is on a month-to-month basis. Tenants pay their own utilities, and the duplex includes a shared yard and on-street parking.
With its south side location near everyday amenities and transportation, the property is positioned to support practical tenant access and neighborhood convenience.
Key Highlights
- Renovated duplex built in 1900 with two 2‑bedroom, 1‑bath units
- Updated kitchens in each unit with granite countertops
- Private basements for each unit with washer/dryer hookups and additional 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
$19,333
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
6.45%
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%
$386,660
$386.7K
Cap Rate 7%
$276,186
$276.2K
Cap Rate 9%
$214,811
$214.8K
Market Conditions
NOI Build-Up for 1,716 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
$29.9K $17.40/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$27.6K $16.10/SF
− OpEx
−$8.3K −$4.83/SF
NOI
$19.3K $11.27/SF
Area
ZIP 43207
Vacancy
7.50%
Lease Rate
$17.40 /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%
$386,660
Cap Rate 7%
$276,186
Cap Rate 9%
$214,811
Alternative Uses
Best Use
Multifamily LT 5
$276.2K
$241.7K – $322.2K
NOI $19,333 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$253.3K
$221.7K – $295.5K
NOI $17,732 @ 7.0% cap · market cap 5.91%
Theoretical Best
Warehouse
$345.9K
$302.6K – $403.5K
NOI $24,210 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with two 2-bedroom, 1-bath units, private basements with washer/dryer hookups, and a shared yard.
Where is this duplex located?
The property is located at 1862 South 6th Street Columbus, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Renovated duplex built in 1900 with two 2‑bedroom, 1‑bath units; Updated kitchens in each unit with granite countertops; Private basements for each unit with washer/dryer hookups and additional storage
