Three-Level Duplex with
For Sale
$375,000
250-252 N Monroe Ave, Columbus, OH 43203
Two flexible residences feature updated kitchens, bathrooms, hardwood floors, and extensive mechanical improvements.
Property Size3,751 SF
Price / SF$99.97
Days on Market33
Property Features for 250-252 N Monroe Ave
General Information
Standard status
Active
Size
3,751 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
remaining renovation work
Units
Unit Mix
2 x 3BR/3.5BA
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Larry Stefanitsis, Red 1 Realty
(614) 402-5212
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Jul 29
Changed: Aug 27
Last Checked: Aug 29 at 8:54AM
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 Larry Stefanitsis, Red 1 Realty
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex offers matching layouts across three finished levels. Each residence includes 3 bedrooms and 3.5 bathrooms, with two bedrooms on the second floor and an additional suite on the third. A private en-suite bathroom serves one second-floor bedroom in each unit, while first-floor laundry adds functional convenience. The property also includes a two-car garage and off-street parking.
Completed work includes kitchen and bathroom updates, refinished hardwood flooring, restored decorative fireplaces, replacement windows, updated lighting, and extensive mechanical improvements. Additional renovation remains, and the property is offered as-is, allowing the next owner to complete the interiors with selected finishes. The address is in Columbus's King-Lincoln Bronzeville neighborhood, near Downtown Columbus, Franklin Park Conservatory, East Market, Olde Towne East, parks, restaurants, local businesses, and cultural destinations.
Completed work includes kitchen and bathroom updates, refinished hardwood flooring, restored decorative fireplaces, replacement windows, updated lighting, and extensive mechanical improvements. Additional renovation remains, and the property is offered as-is, allowing the next owner to complete the interiors with selected finishes. The address is in Columbus's King-Lincoln Bronzeville neighborhood, near Downtown Columbus, Franklin Park Conservatory, East Market, Olde Towne East, parks, restaurants, local businesses, and cultural destinations.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 3.5 bathrooms in each residence
- Three finished levels per unit, including a third‑floor suite with full bathroom
- Updated kitchens and bathrooms, refinished hardwood floors, and replacement windows
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
$31,940
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
8.52%
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%
$638,800
$638.8K
Cap Rate 7%
$456,286
$456.3K
Cap Rate 9%
$354,889
$354.9K
Market Conditions
NOI Build-Up for 3,751 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
$49.1K $13.08/SF
− Vacancy
−$3.4K −$0.92/SF
EGI
$45.6K $12.16/SF
− OpEx
−$13.7K −$3.65/SF
NOI
$31.9K $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%
$638,800
Cap Rate 7%
$456,286
Cap Rate 9%
$354,889
Alternative Uses
Best Use
Multifamily LT 5
$456.3K
$399.3K – $532.3K
NOI $31,940 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$367.1K
$321.2K – $428.2K
NOI $25,694 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$781.7K
$684.0K – $912.0K
NOI $54,721 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,324
Businesses Nearby
Explore this area
Business Placement
Demographics for 43203, OH
8,726
Population
5,301
Households
1.6
Avg Household Size
32
Median Age
30%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
6,233
Density / Sq Mi
$44,099
Median Household Income
$36,918
Median Earnings
$930
Median Rent
$282,100
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 flexible residences feature updated kitchens, bathrooms, hardwood floors, and extensive mechanical improvements.
Where is this duplex located?
The property is located at 250-252 N Monroe Ave Columbus, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 3.5 bathrooms in each residence; Three finished levels per unit, including a third‑floor suite with full bathroom; Updated kitchens and bathrooms, refinished hardwood floors, and replacement windows
