Hilltop Duplex with Long-Term
For Sale
$209,900
Pending
189-191 S Highland Ave, Columbus, OH 43223
Stabilized duplex in Columbus submarket with long-term tenants.
Property Size1,760 SF
Lot Size0.14 Acres
Days on Market145
Property Features for 189-191 S Highland Ave
General Information
Standard status
Pending
Size
1,760 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Building Details
Year Built
1969
Listing Agency:
Nicholas Huscroft, Chosen Real Estate Group
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: May 16
Changed: Oct 4
Last Checked: Oct 7 at 12:46PM
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 Nicholas Huscroft, Chosen Real Estate Group
Investment Insights
Based on property information with market context.
This stabilized duplex, constructed in 1969, is located in a stable Columbus submarket. The masonry building features two 3-bedroom, 1-bathroom units with efficient floor plans. The property is fully occupied with active leases extending through April 1, 2027. Tenants are described as professional and long-term, managing minor upkeep and day-to-day maintenance, contributing to a low expense ratio. Tenants are responsible for all utilities. The property includes a 6,222 sq. ft. lot with off-street parking. Each unit has access to a large unfinished basement with high ceilings, currently used for laundry and storage. These basements offer potential for future finishing or additional utility under the 2026 Columbus building codes. The durable masonry/brick exterior walls minimize structural upkeep, making this property suitable for investors seeking consistent cash flow or buyers looking for a property with significant future finishing potential. The total monthly rent is $2,000, with each side generating $1,000.
Key Highlights
- Fully occupied with long‑term, professional tenants and leases active through April 1, 2027, providing immediate and stable income.
- Durable 1969 masonry/brick construction minimizes structural upkeep and ensures long‑term stability.
- Tenants pay all utilities, resulting in a low expense ratio for the owner.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,987
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,740
$299.7K
Cap Rate 7%
$214,100
$214.1K
Cap Rate 9%
$166,522
$166.5K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$23.0K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.4K $12.16/SF
− OpEx
−$6.4K −$3.65/SF
NOI
$15.0K $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 Rate 5%
$299,740
Cap Rate 7%
$214,100
Cap Rate 9%
$166,522
Alternative Uses
Best Use
Multifamily LT 5
$214.1K
$187.3K – $249.8K
NOI $14,987 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$366.8K
$320.9K – $427.9K
NOI $25,675 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Stabilized duplex in Columbus submarket with long-term tenants.
Where is this duplex located?
The property is located at 189-191 S Highland Ave Columbus, OH.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Fully occupied with long‑term, professional tenants and leases active through April 1, 2027, providing immediate and stable income.; Durable 1969 masonry/brick construction minimizes structural upkeep and ensures long‑term stability.; Tenants pay all utilities, resulting in a low expense ratio for the owner.
