Cash Flowing Duplex For
For Sale
$199,000
Pending
2663-2665 Avalon Place, Columbus, OH 43219
Duplex with renovated unit and potential for three rentals.
Property Size864 SF
Days on Market109
Property Features for 2663-2665 Avalon Place
General Information
Standard status
Pending
Size
864 SF
Property subtype
Multi-Family / Duplex
Taxes and HOA fees
Annual Taxes
$1,790
Amenities
Central Air
Forced Air
Gas
Yes
Building Details
Year Built
1951
Listing Agency:
e-Merge Real Estate Unlimited
(614) 589-7985
Listed By:
Victor Chidera Agbo · License #2022007950
(614) 589-7985
Source:
Compass
Added: May 15
Changed: Aug 8
Last Checked: Jul 24 at 1:36PM
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 e-Merge Real Estate Unlimited
Investment Insights
Based on property information with market context.
This duplex property, originally designed as a 1-bedroom, 1-bathroom unit on each side, offers a cash-flowing investment opportunity. One of the units has been renovated to include a lower level, creating the potential for three separate rental units. The current gross rental income is $2725 across all units. The property includes front parking and a fenced yard. The property is to be sold as-is.
Key Highlights
- Potential for 3 Rental Units: Originally a duplex, the renovated unit allows for a separate lower‑level rental, increasing income potential.
- Strong Rental Income: Current gross rents are $2725 across all units, indicating a solid cash flow.
- Both units have central air conditioning.
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
$7,357
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
3.70%
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%
$147,140
$147.1K
Cap Rate 7%
$105,100
$105.1K
Cap Rate 9%
$81,744
$81.7K
Market Conditions
NOI Build-Up for 864 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
$11.3K $13.08/SF
− Vacancy
−$791 −$0.92/SF
EGI
$10.5K $12.16/SF
− OpEx
−$3.2K −$3.65/SF
NOI
$7.4K $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%
$147,140
Cap Rate 7%
$105,100
Cap Rate 9%
$81,744
Alternative Uses
Best Use
Multifamily LT 5
$105.1K
$92.0K – $122.6K
NOI $7,357 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$84.5K
$74.0K – $98.6K
NOI $5,918 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$180.1K
$157.6K – $210.1K
NOI $12,604 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
340
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 - Duplex with renovated unit and potential for three rentals.
Where is this duplex located?
The property is located at 2663-2665 Avalon Place Columbus, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Potential for 3 Rental Units: Originally a duplex, the renovated unit allows for a separate lower‑level rental, increasing income potential.; Strong Rental Income: Current gross rents are $2725 across all units, indicating a solid cash flow.; Both units have central air conditioning.
