Duplex with Full
New
For Sale
$435,000
2422 N 4th St, Columbus, OH 43202
Two townhouse-style residences offer updated features, private storage, and an existing long-term tenancy on one side.
Property Size2,692 SF
Price / SF$161.59
Days on Market5
Property Features for 2422 N 4th St
General Information
Standard status
Active
Size
2,692 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
storage attic
full basement
attached mud room
hardwood floors
built-in bar
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Trenae Williams, Coldwell Banker Realty
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Aug 30
Changed: Sep 2
Last Checked: Sep 2 at 5:02PM
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 Trenae Williams, Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex contains two townhouse-style residences, each arranged with 7 rooms, 3 bedrooms, and 1 bath. Both sides include a storage attic and full basement, providing additional space beyond the primary living areas. Hardwood flooring and a built-in bar contribute distinctive interior features.
The 2422 side includes a beautiful new kitchen equipped with all appliances and an attached mud room. The 2424 side is occupied by a long-term tenant, creating an existing tenancy within the two-unit property. Located at 2422 N 4th Street in Columbus, Ohio, the configuration may accommodate an owner-occupant while retaining a separate residential unit.
The 2422 side includes a beautiful new kitchen equipped with all appliances and an attached mud room. The 2424 side is occupied by a long-term tenant, creating an existing tenancy within the two-unit property. Located at 2422 N 4th Street in Columbus, Ohio, the configuration may accommodate an owner-occupant while retaining a separate residential unit.
Key Highlights
- Two‑unit duplex with 7 rooms, 3 bedrooms, and 1 bath on each side
- Storage attic and full basement included with each townhouse‑style residence
- 2422 side features a new kitchen with all appliances and an attached mud room
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
$22,923
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
5.27%
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%
$458,460
$458.5K
Cap Rate 7%
$327,471
$327.5K
Cap Rate 9%
$254,700
$254.7K
Market Conditions
NOI Build-Up for 2,692 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
$35.2K $13.08/SF
− Vacancy
−$2.5K −$0.92/SF
EGI
$32.7K $12.16/SF
− OpEx
−$9.8K −$3.65/SF
NOI
$22.9K $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%
$458,460
Cap Rate 7%
$327,471
Cap Rate 9%
$254,700
Alternative Uses
Best Use
Multifamily LT 5
$327.5K
$286.5K – $382.1K
NOI $22,923 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$263.4K
$230.5K – $307.3K
NOI $18,440 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$561.0K
$490.9K – $654.5K
NOI $39,272 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 43202, OH
20,427
Population
10,055
Households
2
Avg Household Size
29
Median Age
62%
College-Educated
95%
High-School Grad
2.5 sq mi
ZIP Area
8,171
Density / Sq Mi
$65,689
Median Household Income
$36,412
Median Earnings
$1,170
Median Rent
$317,000
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 - Two townhouse-style residences offer updated features, private storage, and an existing long-term tenancy on one side.
Where is this duplex located?
The property is located at 2422 N 4th St Columbus, OH.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two‑unit duplex with 7 rooms, 3 bedrooms, and 1 bath on each side; Storage attic and full basement included with each townhouse‑style residence; 2422 side features a new kitchen with all appliances and an attached mud room
