Historic Duplex with Third-Story
New
For Sale
$749,900
4244 42-44 E Prescott St, Columbus, OH 43215
Separate utility metering and off-street parking support distinct residential use across both units.
Property Size2,600 SF
Price / SF$288.42
Days on Market2
Property Features for 4244 42-44 E Prescott St
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Ohio Broker Direct, LLC
Listed By:
Joan Elflein · License #386319
(614) 989-7215
Source:
Kwcore
Added: Sep 26
Last Checked: Sep 26 at 2:30PM
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 Ohio Broker Direct, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit property totals approximately 2,600 square feet, with about 1,300 square feet on each side. One unit has two bedrooms and a full bath; the other has one bedroom and a full bath. Each includes a third-story loft. Both units have updated kitchens and bathrooms, new HVAC systems and water heaters, wood flooring, and bright rooms. The one-bedroom unit also has a vaulted bedroom ceiling. Furnishings and artwork in the two-bedroom unit may be included. A concrete driveway accommodates up to four vehicles. Electric, gas, and other utilities are separately metered, while water is shared.
The property is within walking distance of High Street and the Greater Columbus Convention Center. John Glenn Columbus International Airport is approximately 10–15 minutes away. The units are described as suitable for owner occupancy, long-term rental, or short-term rental; conversion to separately deeded units may be possible subject to applicable approvals and requirements.
The property is within walking distance of High Street and the Greater Columbus Convention Center. John Glenn Columbus International Airport is approximately 10–15 minutes away. The units are described as suitable for owner occupancy, long-term rental, or short-term rental; conversion to separately deeded units may be possible subject to applicable approvals and requirements.
Key Highlights
- Two‑unit duplex with approximately 2,600 SF total and approximately 1,300 SF per side
- One side has 2 bedrooms and 1 full bath; the other has 1 bedroom and 1 full bath
- Third‑story loft in each unit; vaulted bedroom ceiling in the one‑bedroom unit
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
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,218
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
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 - Separate utility metering and off-street parking support distinct residential use across both units.
Where is this duplex located?
The property is located at 4244 42-44 E Prescott St 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: Two‑unit duplex with approximately 2,600 SF total and approximately 1,300 SF per side; One side has 2 bedrooms and 1 full bath; the other has 1 bedroom and 1 full bath; Third‑story loft in each unit; vaulted bedroom ceiling in the one‑bedroom unit
