Powell Duplex: Income
For Sale
$405,000
Pending
2087-2089 Summit Row Boulevard, Powell, OH 43065
Income-producing duplex in Powell with Columbus taxes and Worthington Schools.
Property Size2,016 SF
Days on Market102
Property Features for 2087-2089 Summit Row Boulevard
General Information
Standard status
Pending
Size
2,016 SF
Property subtype
Multi-Family / Duplex
Taxes and HOA fees
Annual Taxes
$6,377
Amenities
Central Air
Heat Pump
Electric
Yes
Building Details
Year Built
1986
Listing Agency:
Howard Hanna Real Estate Svcs
(614) 309-6197
Listed By:
Benjamin Thomas Hemmert · License #2002020344
(614) 309-6197
Source:
Compass
Added: May 20
Changed: Aug 8
Last Checked: Jul 24 at 1:09PM
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 Howard Hanna Real Estate Svcs
Investment Insights
Based on property information with market context.
This income-producing duplex is located in the Powell area, offering a Powell address, Columbus taxes, and Worthington Schools. Situated at 2087-2089 Summit Row Blvd, it provides convenient access to Downtown Powell, Liberty Township, Polaris, and the Northwest Columbus corridor. The location offers proximity to parks, walking trails, golf courses, shopping, restaurants, coffee shops, and everyday amenities, within an established community. Quick access to SR-315 and I-270 facilitates commuting while maintaining the charm and convenience of Powell living. Each unit includes 2 bedrooms, 1.5 baths, spacious living areas, functional kitchens, and partially finished basements that provide additional flexible living space. The property presents potential as a long-term investment, an owner-occupant opportunity, or for future upside in a high-demand rental area. The property size is 2016 square feet.
Key Highlights
- Income‑producing duplex in the Powell area.
- Located in Powell with Columbus taxes and Worthington Schools.
- Convenient access to Downtown Powell, Liberty Township, Polaris, SR‑315, and I‑270.
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
$19,661
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
4.85%
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%
$393,220
$393.2K
Cap Rate 7%
$280,871
$280.9K
Cap Rate 9%
$218,456
$218.5K
Market Conditions
NOI Build-Up for 2,016 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
$30.2K $15.00/SF
− Vacancy
−$2.2K −$1.07/SF
EGI
$28.1K $13.93/SF
− OpEx
−$8.4K −$4.18/SF
NOI
$19.7K $9.75/SF
Area
Butler County, OH
Vacancy
7.12%
Lease Rate
$15.00 /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%
$393,220
Cap Rate 7%
$280,871
Cap Rate 9%
$218,456
Alternative Uses
Best Use
Multifamily LT 5
$280.9K
$245.8K – $327.7K
NOI $19,661 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$258.5K
$226.2K – $301.5K
NOI $18,092 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$398.6K
$348.8K – $465.0K
NOI $27,902 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 43065, OH
44,829
Population
17,468
Households
2.6
Avg Household Size
41
Median Age
68%
College-Educated
98%
High-School Grad
28.1 sq mi
ZIP Area
1,595
Density / Sq Mi
$154,797
Median Household Income
$83,357
Median Earnings
$1,811
Median Rent
$451,700
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 - Income-producing duplex in Powell with Columbus taxes and Worthington Schools.
Where is this duplex located?
The property is located at 2087-2089 Summit Row Boulevard Powell, OH.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Income‑producing duplex in the Powell area.; Located in Powell with Columbus taxes and Worthington Schools.; Convenient access to Downtown Powell, Liberty Township, Polaris, SR‑315, and I‑270.
