Brick Ranch
New
For Sale
$389,900
1938-1940 Hampstead Dr, Columbus, OH 43229
Side-by-side units offer attached garages, full basements, and a fenced backyard on a quiet residential street.
Property Size2,260 SF
Price / SF$172.52
Days on Market5
Property Features for 1938-1940 Hampstead Dr
General Information
Standard status
Active
Size
2,260 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
50%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Amenities
fenced backyard
Building Details
Year Built
1971
Buildings
1
Construction
brick ranch
Tenancy
Single
Listing Agency:
Natalie Washington-Williams, Home Network
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 8 at 5:22AM
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 Natalie Washington-Williams, Home Network
Investment Insights
Based on property information with market context.
This brick ranch duplex contains two side-by-side units with matching layouts. Each residence includes 2 bedrooms, 1.5 baths, an owner's suite arrangement, an attached garage, and a full basement. The property totals 2260 square feet and was built in 1971.
One unit is occupied, while the other is vacant and ready for immediate use. Recent improvements to the vacant side include new flooring, fresh paint, and updated kitchen and bath finishes. Both basements provide additional unfinished space, and the fenced backyard adds outdoor utility for residents. Located at 1938-1940 Hampstead Dr in Columbus, the property combines separate living quarters with the flexibility to occupy one unit and lease the other or operate both as rentals.
One unit is occupied, while the other is vacant and ready for immediate use. Recent improvements to the vacant side include new flooring, fresh paint, and updated kitchen and bath finishes. Both basements provide additional unfinished space, and the fenced backyard adds outdoor utility for residents. Located at 1938-1940 Hampstead Dr in Columbus, the property combines separate living quarters with the flexibility to occupy one unit and lease the other or operate both as rentals.
Key Highlights
- Two side‑by‑side duplex units, each with 2 beds and 1.5 baths
- 2260 square feet across a brick ranch duplex built in 1971
- One unit rented; the second is vacant and updated with new flooring, paint, kitchen, and bath finishes
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
$24,047
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
6.17%
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%
$480,940
$480.9K
Cap Rate 7%
$343,529
$343.5K
Cap Rate 9%
$267,189
$267.2K
Market Conditions
NOI Build-Up for 2,260 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
$36.6K $16.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$34.4K $15.20/SF
− OpEx
−$10.3K −$4.56/SF
NOI
$24.0K $10.64/SF
Area
ZIP 43229
Vacancy
6.17%
Lease Rate
$16.20 /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%
$480,940
Cap Rate 7%
$343,529
Cap Rate 9%
$267,189
Alternative Uses
Best Use
Multifamily LT 5
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$298.9K
$261.5K – $348.7K
NOI $20,920 @ 7.0% cap · market cap 5.37%
Theoretical Best
Warehouse
$569.1K
$497.9K – $663.9K
NOI $39,834 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 43229, OH
54,310
Population
23,290
Households
2.3
Avg Household Size
34
Median Age
24%
College-Educated
83%
High-School Grad
9.0 sq mi
ZIP Area
6,034
Density / Sq Mi
$53,430
Median Household Income
$35,181
Median Earnings
$1,082
Median Rent
$210,600
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 - Side-by-side units offer attached garages, full basements, and a fenced backyard on a quiet residential street.
Where is this duplex located?
The property is located at 1938-1940 Hampstead Dr Columbus, OH.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Two side‑by‑side duplex units, each with 2 beds and 1.5 baths; 2260 square feet across a brick ranch duplex built in 1971; One unit rented; the second is vacant and updated with new flooring, paint, kitchen, and bath finishes
