Newly Built Duplex with Garage
For Sale
Contact for pricing
43 W Markison Ave, Columbus, OH 43207
Two furnished mirror-image units provide private outdoor areas and a distinctive short-term rental configuration.
Property Size4,536 SF
Price / SF$307.54
Days on Market696
Property Features for 43 W Markison Ave
General Information
Standard status
Active
Size
4,536 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
Residential
Net Operating Income
$176,517
Units
Unit Mix
2 x 4BR/3BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
floor to ceiling bookshelves with library ladders and 7,000+ hardcover books
12 ft ceilings
luxury appliances
custom ironwork and barn beams
video surveillance
private outdoor space
Building Details
Year Renovated
2024
Buildings
1
Stories
2
Units
2
Construction
masonry
Listing Agency:
Keller Williams Capital Partners
(614) 832-7139
Listed By:
Jeff Mahler · License #2007005702
Source:
Crexi
Added: Sep 26, 2024
Changed: Aug 21
Last Checked: Aug 22 at 8:26AM
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 Partners
Investment Insights
Based on property information with market context.
This newly built duplex contains 4,536 SF arranged as two substantially matching units. Each side offers four bedrooms, three full bathrooms, private outdoor space, and garage space. The property includes 12 beds overall, including 8 pull-down Murphy beds, along with furnishings and custom pieces designed for the interior. Distinctive construction details include 100% masonry, 12 ft ceilings, luxury appliances, custom ironwork, barn beams, and floor-to-ceiling bookshelves equipped with library ladders. More than 7,000 hardcover books remain with the property.
The property is zoned Residential and is located near Children's Hospital, German Village, and Downtown Columbus attractions. A property website and furnishings convey with the sale, supporting continued operation as a furnished short-term rental.
The property is zoned Residential and is located near Children's Hospital, German Village, and Downtown Columbus attractions. A property website and furnishings convey with the sale, supporting continued operation as a furnished short-term rental.
Key Highlights
- 4,536 SF duplex with two mirror‑image units
- Each unit includes 4 bedrooms and 3 full bathrooms
- 12 total beds, including 8 pull‑down Murphy beds
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
$51,105
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
3.66%
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%
$1,022,100
$1.0M
Cap Rate 7%
$730,071
$730.1K
Cap Rate 9%
$567,833
$567.8K
Market Conditions
NOI Build-Up for 4,536 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
$78.9K $17.40/SF
− Vacancy
−$5.9K −$1.31/SF
EGI
$73.0K $16.10/SF
− OpEx
−$21.9K −$4.83/SF
NOI
$51.1K $11.27/SF
Area
ZIP 43207
Vacancy
7.50%
Lease Rate
$17.40 /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%
$1,022,100
Cap Rate 7%
$730,071
Cap Rate 9%
$567,833
Alternative Uses
Best Use
Multifamily LT 5
$730.1K
$638.8K – $851.8K
NOI $51,105 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$669.6K
$585.9K – $781.2K
NOI $46,873 @ 7.0% cap · market cap 3.36%
Theoretical Best
Warehouse
$914.2K
$800.0K – $1.07M
NOI $63,997 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
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 - Two furnished mirror-image units provide private outdoor areas and a distinctive short-term rental configuration.
Where is this duplex located?
The property is located at 43 W Markison Ave Columbus, OH.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 4,536 SF duplex with two mirror‑image units; Each unit includes 4 bedrooms and 3 full bathrooms; 12 total beds, including 8 pull‑down Murphy beds
