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    University District Duplex with Vacant Unit Title is generated by Realmo AI

    292-294 Wyandotte Avenue, Columbus, OH 43202

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    For Sale
    $375,000

    Two-unit duplex with one vacant, updated roof and remodeled baths, offering immediate rental income potential.

    Type:Multi-Family / Duplex
    Property size:
    2,509 SF
    Price / SF:
    $149/SF
    Added:
    May 4, 2026
    Days on Market:
    35
    Last Refresh:
    Jun 6 at 3:50 am

    Property Features for 292-294 Wyandotte Avenue

    General Information

    Standard status
    Active
    Size
    2,509 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1915

    We can help!

    Listing Contact
    Joseph C Jackson
    Joseph C Jackson

    Listing agent Joseph C Jackson License #2014000204

    Listing office Keller Williams Capital Ptnrs

    Listing date May 4, 2026

    Source Compass

    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 Keller Williams Capital Ptnrs

    HighLights

    • Duplex at 292‑294 Wyandotte Avenue in the University District (2 units; 294 is vacant and move‑in ready).
    • 294 side includes living room, dining area, kitchen with eating space, two bedrooms, full bath, and walk‑up third floor flex space.
    • 292 side is leased at $1,400/month through January 31, 2027 for immediate rental income.
    • Both units have similar layouts with living room, dining area, kitchen, full basement, two bedrooms on the second floor, and additional finished third‑floor space.
    • Recent updates include a brand‑new roof (2026), remodeled bathrooms, and exterior painting.
    • Heat fuel is gas; residents pay for gas, electric, and water.

    Overview

    This two-unit duplex at 292–294 Wyandotte Avenue offers two similar layouts with living room, dining area, kitchen with eating space, and full bathrooms. Each unit includes two bedrooms on the second floor along with additional finished space on a walk-up third floor that can function as a third bedroom, office, or flex area. A full basement is included for both sides. The 294 side is currently vacant and move-in ready.

    The 292 side is leased at $1,400 per month through January 31, 2027, providing immediate, in-place rental income. The building was recently improved with a brand-new roof completed in 2026, along with remodeled bathrooms and exterior painting. Residents are responsible for gas, electric, and water.

    Designed for an owner-occupant or investor, this property combines a tenant-occupied unit with a separate move-in ready option. Updates to key items such as the roof and bathrooms can help reduce near-term capital concerns, while the third-floor flexibility supports a range of household needs for tenants or for owner use.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $32.8k $13.08
    − Vacancy −$2.3k −$0.92
    EGI $30.5k $12.16
    − OpEx −$9.2k −$3.65
    NOI $21.4k $8.52
    2,509 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $305.2K
    $267.1K – $356.1K (±1% cap)
    NOI $21,364 @ 7.0% cap · market cap 5.70%
    Second Best
    Apartment 5plus
    $245.5K
    $214.8K – $286.4K (±1% cap)
    NOI $17,186 @ 7.0% cap · market cap 4.58%
    Theoretical Best
    Office A
    $522.9K
    $457.5K – $610.0K (±1% cap)
    NOI $36,602 @ 7.0% cap · market cap 9.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.002125
    Latitude
    40.0104033

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    FAQs

    What type of property is this?
    Duplex - Two-unit duplex with one vacant, updated roof and remodeled baths, offering immediate rental income potential.
    Where is this duplex located?
    The property is located at 292-294 Wyandotte Avenue 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: Duplex at 292‑294 Wyandotte Avenue in the University District (2 units; 294 is vacant and move‑in ready).; 294 side includes living room, dining area, kitchen with eating space, two bedrooms, full bath, and walk‑up third floor flex space.; 292 side is leased at $1,400/month through January 31, 2027 for immediate rental income.
    (614) 431-1220
    We can help!
    Listing Contact
    Joseph C Jackson
    Joseph C Jackson
    Real Estate License ID: 2014000204
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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