Well-Maintained Duplex Income
235-237 Avondale Avenue Columbus, OH 43223
235-237 Avondale Avenue, Columbus, OH, 43223
$305,000
For Sale
$305,000
Duplex with two 3-bedroom, 1-bath units, one currently rented and the other rent-ready.
Property Size2,576 SF
Price / SF$118.40
Days on Market89
Property Features for 235-237 Avondale Avenue
General Information
- Standard status
- Active
- Size
- 2,576 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1810
Listing agency
Reafco
(614) 541-8475
Listed by
Remington Lyman · License #2022001862
(614) 541-8475
Source
Compass
Added: Apr 25 Updated: Jul 22 at 2:09AM Checked: Jul 22 at 2:09AM
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 well-maintained duplex features two separate sides, each with 3 bedrooms and 1 bathroom. One unit is currently rented for $1,200 per month plus a $85 water fee, providing ongoing income. The other side has recently turned and is ready for a new tenant.
Located on Avondale Avenue in Franklinton, the property is positioned for immediate occupancy options given the availability of one rent-ready unit.
For investors or owner-occupants seeking a straightforward residential income setup, this property offers an existing tenant in one unit and the flexibility to place a new tenant in the other unit without delay.
Located on Avondale Avenue in Franklinton, the property is positioned for immediate occupancy options given the availability of one rent-ready unit.
For investors or owner-occupants seeking a straightforward residential income setup, this property offers an existing tenant in one unit and the flexibility to place a new tenant in the other unit without delay.
Key Highlights
- Duplex built in 1810 with 2 units, each offering 3 bedrooms and 1 bathroom
- One unit is currently rented for $1,200 per month plus a $85 water fee
- Second unit just turned and is rent‑ready for new occupancy
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.7k | $13.08 |
| − Vacancy | −$2.4k | −$0.92 |
| EGI | $31.3k | $12.16 |
| − OpEx | −$9.4k | −$3.65 |
| NOI | $21.9k | $8.52 |
2,576 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$313.4K
$274.2K – $365.6K
NOI $21,935 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$252.1K
$220.6K – $294.1K
NOI $17,645 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$536.9K
$469.8K – $626.3K
NOI $37,580 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with two 3-bedroom, 1-bath units, one currently rented and the other rent-ready.
Where is this duplex located?
The property is located at 235-237 Avondale Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Duplex built in 1810 with 2 units, each offering 3 bedrooms and 1 bathroom; One unit is currently rented for $1,200 per month plus a $85 water fee; Second unit just turned and is rent‑ready for new occupancy
