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    Income Duplex with Large Basements Title is generated by Realmo AI

    411-415 East 13th Avenue, Columbus, OH 43201

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    For Sale
    $450,000

    Duplex offers flexible living or rental options with basements, off-street parking, and a shared fenced backyard.

    Type:Multi-Family / Duplex
    Property size:
    2,952 SF
    Price / SF:
    $152/SF
    Added:
    Oct 15, 2025
    Days on Market:
    235
    Last Refresh:
    Jun 6 at 2:32 am

    Property Features for 411-415 East 13th Avenue

    General Information

    Standard status
    Active
    Size
    2,952 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Austin E Steed

    Listing agent Austin E Steed License #2016002609

    Listing office Lim Realty Group

    Listing date Oct 15, 2025

    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 Lim Realty Group

    HighLights

    • Duplex with 4 bedrooms and 1 bathroom per unit, plus an additional room that leads to the attic (could be used as a 5th bedroom, office, or flex space).
    • Rental flexibility: one unit available at end of July; the other unit is leased through July 2029.
    • Large basements for storage: 411 unit includes an additional full bathroom in the basement.
    • Shared fenced‑in backyard.
    • 4 off‑street parking spots.
    • Central air and forced‑air gas heating.

    Overview

    This spacious duplex contains two units, each with four bedrooms and one bathroom, along with generous living space throughout. Each side also includes an additional room that leads to the attic, which may be used as a fifth bedroom, office, or flex space. The property features large basements for storage, with the 411 unit also offering an additional full bathroom in the basement. A shared fenced-in backyard and four off-street parking spots round out the home’s day-to-day functionality.

    The address is 411-415 East 13th Avenue in Columbus, OH 43201, and the property is described as being close to Campus, the Short North, and Downtown Columbus. One unit is available at the end of July, while the other unit is leased through July of 2029.

    For owner-occupants, the mid-summer availability supports moving into one side while renting the other. For investors, the long-term in-place lease on one unit provides established occupancy, while the other side offers an opportunity to set new tenant terms following the stated availability. Both units’ basement storage and off-street parking make the property well-suited to tenant day-to-day needs.

    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 $38.6k $13.08
    − Vacancy −$2.7k −$0.92
    EGI $35.9k $12.16
    − OpEx −$10.8k −$3.65
    NOI $25.1k $8.52
    2,952 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $359.1K
    $314.2K – $419.0K (±1% cap)
    NOI $25,137 @ 7.0% cap · market cap 5.59%
    Second Best
    Apartment 5plus
    $288.9K
    $252.8K – $337.0K (±1% cap)
    NOI $20,221 @ 7.0% cap · market cap 4.49%
    Theoretical Best
    Office A
    $615.2K
    $538.3K – $717.8K (±1% cap)
    NOI $43,065 @ 7.0% cap · market cap 9.57%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9962535
    Latitude
    39.9970567

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    FAQs

    What type of property is this?
    Duplex - Duplex offers flexible living or rental options with basements, off-street parking, and a shared fenced backyard.
    Where is this duplex located?
    The property is located at 411-415 East 13th Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Duplex with 4 bedrooms and 1 bathroom per unit, plus an additional room that leads to the attic (could be used as a 5th bedroom, office, or flex space).; Rental flexibility: one unit available at end of July; the other unit is leased through July 2029.; Large basements for storage: 411 unit includes an additional full bathroom in the basement.
    (614) 531-5455
    We can help!
    Listing Contact
    Austin E Steed
    Real Estate License ID: 2016002609
    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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