Two-Unit
New
For Sale
$375,000
2778-2780 Blossom Ave, Columbus, OH 43231
Each residence includes a private basement and an attached one-car garage.
Property Size2,034 SF
Price / SF$184.37
Days on Market4
Property Features for 2778-2780 Blossom Ave
General Information
Standard status
Active
Size
2,034 SF
Property subtype
Multi-Family
Building Details
Year Built
1984
Listing Agency:
Ryan Ruehle, Exp Realty, LLC
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 2 at 8:09PM
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 Ryan Ruehle, Exp Realty, LLC
Investment Insights
Based on property information with market context.
This 1984 duplex contains two townhome-style residences, each with two bedrooms, an eat-in kitchen, a partially finished basement, and an attached one-car garage. Each unit measures just over 1,000 SF. Both are occupied under month-to-month leases. Water is sub-metered and billed to residents, who also cover utilities, lawn care, 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 duplex may be bundled with three other nearby duplexes. Showings are arranged after an accepted contract; tenant rights apply.
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 duplex may be bundled with three other nearby duplexes. Showings are arranged after an accepted contract; tenant rights apply.
Key Highlights
- Two townhome‑style units, each just over 1,000 SF
- Both residences have 2 bedrooms, an eat‑in kitchen, and a partially finished private basement
- 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
$17,320
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
4.62%
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%
$346,400
$346.4K
Cap Rate 7%
$247,429
$247.4K
Cap Rate 9%
$192,444
$192.4K
Market Conditions
NOI Build-Up for 2,034 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
$26.6K $13.08/SF
− Vacancy
−$1.9K −$0.92/SF
EGI
$24.7K $12.16/SF
− OpEx
−$7.4K −$3.65/SF
NOI
$17.3K $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%
$346,400
Cap Rate 7%
$247,429
Cap Rate 9%
$192,444
Alternative Uses
Best Use
Multifamily LT 5
$247.4K
$216.5K – $288.7K
NOI $17,320 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$199.0K
$174.2K – $232.2K
NOI $13,933 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$423.9K
$370.9K – $494.6K
NOI $29,673 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a private basement and an attached one-car garage.
Where is this duplex located?
The property is located at 2778-2780 Blossom 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 townhome‑style units, each just over 1,000 SF; Both residences have 2 bedrooms, an eat‑in kitchen, and a partially finished private basement; Attached 1‑car garage for each unit
