Ranch-Style
New
For Sale
$350,000
2737-2739 Blossom Ave, Columbus, OH 43231
Both residences have private basements, attached garages, and current leases extending through 2026.
Property Size1,760 SF
Price / SF$198.86
Days on Market4
Property Features for 2737-2739 Blossom Ave
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$24,480
Average Monthly Rent
$1,020
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1977
Buildings
1
Construction
ranch-style
Tenancy
Multi
Listing Agency:
Tonya Fisher, Key Realty
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 2 at 8:38PM
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 Tonya Fisher, Key Realty
Investment Insights
Based on property information with market context.
This 1977 ranch-style duplex contains two residences, each with two bedrooms, one full bath, an eat-in kitchen, a private basement, and an attached one-car garage. Both units are leased through December 31, 2026. Tenants pay their own utilities; water is sub-metered and billed back monthly. They also take care of lawn maintenance and snow removal.
The property is in an established neighborhood with sidewalks and access to freeways, retail, office space, schools, and hospitals. Mount Carmel St. Ann's Hospital, JPMorgan Chase offices, Uptown Westerville, and Easton Town Center are within a few miles.
The property is in an established neighborhood with sidewalks and access to freeways, retail, office space, schools, and hospitals. Mount Carmel St. Ann's Hospital, JPMorgan Chase offices, Uptown Westerville, and Easton Town Center are within a few miles.
Key Highlights
- Two‑unit ranch‑style property built in 1977
- Each residence has 2 bedrooms, 1 full bath, and an eat‑in kitchen
- Private basement and attached 1‑car garage for each unit
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
$14,987
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
4.28%
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%
$299,740
$299.7K
Cap Rate 7%
$214,100
$214.1K
Cap Rate 9%
$166,522
$166.5K
Market Conditions
NOI Build-Up for 1,760 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
$23.0K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.4K $12.16/SF
− OpEx
−$6.4K −$3.65/SF
NOI
$15.0K $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 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%
$299,740
Cap Rate 7%
$214,100
Cap Rate 9%
$166,522
Alternative Uses
Best Use
Multifamily LT 5
$214.1K
$187.3K – $249.8K
NOI $14,987 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$366.8K
$320.9K – $427.9K
NOI $25,675 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Explore this area
Business Placement
Demographics for 43231, OH
22,126
Population
9,005
Households
2.5
Avg Household Size
34
Median Age
31%
College-Educated
90%
High-School Grad
4.2 sq mi
ZIP Area
5,268
Density / Sq Mi
$75,096
Median Household Income
$37,882
Median Earnings
$1,127
Median Rent
$222,500
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 - Both residences have private basements, attached garages, and current leases extending through 2026.
Where is this duplex located?
The property is located at 2737-2739 Blossom Ave Columbus, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit ranch‑style property built in 1977; Each residence has 2 bedrooms, 1 full bath, and an eat‑in kitchen; Private basement and attached 1‑car garage for each unit
