Duplex Near Ohio Dominican
For Sale
$250,000
2306-2308 E 5th Avenue, Columbus, OH 43219
Fully occupied residential income property with functioning roof, HVAC, water heaters, and electrical systems.
Property Size2,352 SF
Price / SF$106.29
Days on Market22
Property Features for 2306-2308 E 5th Avenue
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Duplex
Occupancy
100%
Financials
Gross Income
$29,160
Average Monthly Rent
$1,215
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,681
Building Details
Year Built
1928
Listing Agency:
Reafco
(614) 541-8475
Listed By:
Remington Lyman · License #2022001862
(614) 541-8475
Source:
Camtaylor
Added: Aug 1
Changed: Aug 12
Last Checked: Aug 21 at 11:04AM
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 Reafco
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,352 square feet, with each residence configured as a 3-bedroom, 1-bath unit. Combined, the property offers 6 bedrooms and 2 bathrooms. Both units are fully occupied, providing an established operating profile for a residential income property. The roof, HVAC systems, water heaters, and electrical systems are reported to be functioning properly and in good condition. Constructed in 1928, the building offers a straightforward duplex layout suited to its existing residential use.
The property is positioned near Ohio Dominican University and within close proximity to Easton Town Center. Freeway access is also noted, with nearby employment, retail, and educational destinations contributing to the surrounding rental environment.
The property is positioned near Ohio Dominican University and within close proximity to Easton Town Center. Freeway access is also noted, with nearby employment, retail, and educational destinations contributing to the surrounding rental environment.
Key Highlights
- Two‑unit duplex with approximately 2,352 square feet
- Each unit includes 3 bedrooms and 1 bathroom
- Combined layout totals 6 bedrooms and 2 bathrooms
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
$20,027
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
8.01%
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%
$400,540
$400.5K
Cap Rate 7%
$286,100
$286.1K
Cap Rate 9%
$222,522
$222.5K
Market Conditions
NOI Build-Up for 2,352 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
$30.8K $13.08/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$28.6K $12.16/SF
− OpEx
−$8.6K −$3.65/SF
NOI
$20.0K $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 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%
$400,540
Cap Rate 7%
$286,100
Cap Rate 9%
$222,522
Alternative Uses
Best Use
Multifamily LT 5
$286.1K
$250.3K – $333.8K
NOI $20,027 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$230.2K
$201.4K – $268.5K
NOI $16,111 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$490.2K
$428.9K – $571.9K
NOI $34,312 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 43219, OH
30,457
Population
13,210
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
82%
High-School Grad
16.0 sq mi
ZIP Area
1,904
Density / Sq Mi
$51,860
Median Household Income
$32,459
Median Earnings
$1,191
Median Rent
$173,600
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 - Fully occupied residential income property with functioning roof, HVAC, water heaters, and electrical systems.
Where is this duplex located?
The property is located at 2306-2308 E 5th Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,352 square feet; Each unit includes 3 bedrooms and 1 bathroom; Combined layout totals 6 bedrooms and 2 bathrooms
