Updated Duplex with Finished
For Sale
$400,000
2917-2919 United Ct, Reynoldsburg, OH 43068
Two spacious units offer private outdoor areas, attached garages, and recent kitchen and mechanical updates.
Property Size2,852 SF
Price / SF$140.25
Days on Market15
Property Features for 2917-2919 United Ct
General Information
Standard status
Active
Size
2,852 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Road Access
Yes
Amenities
first-floor laundry
decorative fireplace
finished basement rec room
fenced backyard
patio
Building Details
Year Built
1991
Tenancy
Single
Listing Agency:
Larry Stefanitsis, Red 1 Realty
(614) 402-5212
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 28 at 10:14AM
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.
The duplex at 2917-2919 United Ct includes 2,852 square feet across two approximately 1,426-square-foot units. Each side has three bedrooms, two-and-a-half bathrooms, first-floor laundry, generous living space, a decorative fireplace, a fenced backyard, patio, and one-car garage. Unit 2917 also includes a finished basement recreation room. Both kitchens received new cabinetry, granite countertops, and upgraded vinyl flooring in 2023. Additional improvements include a new roof and rear steps, along with newer water heaters, furnaces, and air conditioners with warranties in place.
The property sits on a cul-de-sac in Reynoldsburg, Ohio. Unit 2917 is occupied, while Unit 2919 is vacant and ready for occupancy. Residents are responsible for electric, water, sewer, lawn care, and snow removal. The configuration supports either owner occupancy with rental income from the second unit or continued use as a two-unit investment property.
The property sits on a cul-de-sac in Reynoldsburg, Ohio. Unit 2917 is occupied, while Unit 2919 is vacant and ready for occupancy. Residents are responsible for electric, water, sewer, lawn care, and snow removal. The configuration supports either owner occupancy with rental income from the second unit or continued use as a two-unit investment property.
Key Highlights
- 2,852‑square‑foot duplex built in 1991
- Each unit offers 3 bedrooms, 2.5 bathrooms, a 1‑car garage, patio, and fenced backyard
- Both kitchens updated in 2023 with new cabinetry, granite countertops, and upgraded vinyl flooring
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
$30,239
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
7.56%
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%
$604,780
$604.8K
Cap Rate 7%
$431,986
$432.0K
Cap Rate 9%
$335,989
$336.0K
Market Conditions
NOI Build-Up for 2,852 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
$46.2K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.2K $15.15/SF
− OpEx
−$13.0K −$4.54/SF
NOI
$30.2K $10.60/SF
Area
Franklin County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$604,780
Cap Rate 7%
$431,986
Cap Rate 9%
$335,989
Alternative Uses
Best Use
Multifamily LT 5
$432.0K
$378.0K – $504.0K
NOI $30,239 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$421.0K
$368.4K – $491.2K
NOI $29,471 @ 7.0% cap · market cap 7.37%
Theoretical Best
Specialty Retail
$581.4K
$508.8K – $678.4K
NOI $40,701 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
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 - Two spacious units offer private outdoor areas, attached garages, and recent kitchen and mechanical updates.
Where is this duplex located?
The property is located at 2917-2919 United Ct Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,852‑square‑foot duplex built in 1991; Each unit offers 3 bedrooms, 2.5 bathrooms, a 1‑car garage, patio, and fenced backyard; Both kitchens updated in 2023 with new cabinetry, granite countertops, and upgraded vinyl flooring
