Updated Historic Duplex with
New
For Sale
$749,900
42-44 E Prescott Street, Columbus, OH 43215
Multi-Family, Columbus, OH
Property Size2,600 SF
Lot Size0.08 Acres
Price / SF$288.42
Days on Market3
Property Features for 42-44 E Prescott Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 1
Elementary school district
COLUMBUS CSD 2503 FRA CO.
Middle school district
COLUMBUS CSD 2503 FRA CO.
High school district
COLUMBUS CSD 2503 FRA CO.
Standard status
Active
APN
010-030618
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7172
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
2
Listing Agency:
Ohio Broker Direct, LLC
Listed By:
Joan Elflein · License #386319
(614) 989-7215
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 23 at 11:06AM
MLS# 226036063
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1900, this approximately 2,600 SF duplex provides two distinct residences of approximately 1,300 SF per side. The 42 side includes two bedrooms, one full bath, and a third-story loft; the 44 side offers one bedroom, one full bath, and its own loft, along with a vaulted bedroom ceiling. Both units have updated kitchens and bathrooms, new HVAC systems, new water heaters, wood floors, and bright interiors. Furnishings, artwork, and furniture in the 42 side may be included.
A new concrete driveway accommodates off-street parking for up to 4 vehicles. Electric and gas are separately metered, while water is shared; the property also has public water and public sewer. The duplex sits on a 0.08-acre parcel along a quiet one-way street at 42-44 E Prescott Street in Columbus. High Street and the Greater Columbus Convention Center are within walking distance, and John Glenn Columbus International Airport is approximately 10-15 minutes away. The property is described as suitable for owner occupancy, long-term rental, or short-term rental use, with potential condominium conversion subject to applicable requirements.
A new concrete driveway accommodates off-street parking for up to 4 vehicles. Electric and gas are separately metered, while water is shared; the property also has public water and public sewer. The duplex sits on a 0.08-acre parcel along a quiet one-way street at 42-44 E Prescott Street in Columbus. High Street and the Greater Columbus Convention Center are within walking distance, and John Glenn Columbus International Airport is approximately 10-15 minutes away. The property is described as suitable for owner occupancy, long-term rental, or short-term rental use, with potential condominium conversion subject to applicable requirements.
Key Highlights
- Approximately 2,600 SF duplex with approximately 1,300 SF per side
- 42 side: 2 bedrooms, 1 full bath, and a third‑story loft
- 44 side: 1 bedroom, 1 full bath, vaulted bedroom ceiling, and third‑story loft
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
$22,139
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
2.95%
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%
$442,780
$442.8K
Cap Rate 7%
$316,271
$316.3K
Cap Rate 9%
$245,989
$246.0K
Market Conditions
NOI Build-Up for 2,600 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
$34.0K $13.08/SF
− Vacancy
−$2.4K −$0.92/SF
EGI
$31.6K $12.16/SF
− OpEx
−$9.5K −$3.65/SF
NOI
$22.1K $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%
$442,780
Cap Rate 7%
$316,271
Cap Rate 9%
$245,989
Alternative Uses
Best Use
Multifamily LT 5
$316.3K
$276.7K – $369.0K
NOI $22,139 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$254.4K
$222.6K – $296.8K
NOI $17,810 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$541.9K
$474.1K – $632.2K
NOI $37,930 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-unit property with updated kitchens, baths, HVAC systems, and separate electric and gas metering.
Where is this duplex located?
The property is located at 42-44 E Prescott Street Columbus, OH.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Approximately 2,600 SF duplex with approximately 1,300 SF per side; 42 side: 2 bedrooms, 1 full bath, and a third‑story loft; 44 side: 1 bedroom, 1 full bath, vaulted bedroom ceiling, and third‑story loft
