3216-3218 Independence Street Grove City, OH 43123
Single-story duplex with attached garages, currently fully rented.
Property Features for 3216-3218 Independence Street
General Information
- Standard status
- Active
- Size
- 1,920 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1977
Listing office ERA Real Solutions Realty (614) 214-2522
Listing date May 25, 2026
Source Compass
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Investment Insights
Based on property information with market context.
Key Highlights
- Income‑generating property: Both units are currently rented for $1,175 each.
- Two units, each with an attached one‑car garage.
- Backs up to greenspace behind a school.
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 | $31.1k | $16.20 |
| − Vacancy | −$2.0k | −$1.05 |
| EGI | $29.1k | $15.15 |
| − OpEx | −$8.7k | −$4.54 |
| NOI | $20.4k | $10.60 |
