Duplex with Updated Major
For Sale
$250,000
23062308 2306-2308 E 5th Ave, Columbus, OH 43219
Fully occupied duplex with two three-bedroom units and functioning roof, HVAC, water heaters, and electrical systems.
Property Size2,352 SF
Price / SF$106.29
Days on Market57
Property Features for 23062308 2306-2308 E 5th Ave
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
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
Building Details
Year Built
1928
Listing Agency:
Reafco
Listed By:
Remington Lyman · License #2022001862
(614) 541-8475
Source:
Thelorilynngroup
Added: Aug 20
Changed: Oct 6
Last Checked: Oct 15 at 12:41AM
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
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Investment Insights
Based on property information with market context.
This duplex contains approximately 2,352 square feet arranged as two three-bedroom, one-bath units, for a combined six bedrooms and two bathrooms. Built in 1928, the property is fully occupied, and the roof, HVAC, water heaters, and electrical systems are reported to be functioning properly and in good condition.
The property is located near Ohio Dominican University and within close proximity to Easton Town Center. Freeway access is convenient, with nearby employment, retail, and educational hubs contributing to the surrounding rental demand. Current rents and projected market rents are provided in the source information but are not included here.
The property is located near Ohio Dominican University and within close proximity to Easton Town Center. Freeway access is convenient, with nearby employment, retail, and educational hubs contributing to the surrounding rental demand. Current rents and projected market rents are provided in the source information but are not included here.
Key Highlights
- Approximately 2,352 square feet configured as two three‑bedroom, one‑bath units
- Six bedrooms and two bathrooms across the duplex
- Fully occupied at the time of listing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,027
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
211
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
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with two three-bedroom units and functioning roof, HVAC, water heaters, and electrical systems.
Where is this duplex located?
The property is located at 23062308 2306-2308 E 5th Ave 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: Approximately 2,352 square feet configured as two three‑bedroom, one‑bath units; Six bedrooms and two bathrooms across the duplex; Fully occupied at the time of listing
