Renovated Up-Down
For Sale
$239,900
445-447 Thurman Avenue, Columbus, OH 43206
Two renovated 1-bedroom units with shared laundry and a detached three-car garage.
Property Size1,800 SF
Price / SF$133.28
Days on Market128
Property Features for 445-447 Thurman Avenue
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
3
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Renovated
2025
Tenancy
Multi
Listing Agency:
Cutler Real Estate
(614) 610-1417
Listed By:
Eric W Gledhill · License #2005008010
(614) 679-2814
Source:
Maryhatem
Added: Jun 2
Changed: Oct 3
Last Checked: Oct 5 at 6:16PM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This up-and-down duplex at 445-447 Thurman Avenue offers two separate 1 bedroom, 1 bath units, each approximately 900 square feet. Unit 445 was renovated in June 2022, while unit 447 received a new bath in 2019, a new kitchen in 2021, and new flooring in 2025. Laundry is shared in the back on the lower level. Exterior and major system updates include new gutters installed in 2019 and basement waterproofing completed in 2023 with a lifetime transferable warranty ($75 per year). A detached 3-car garage with a new concrete floor (installed around 2018) adds practical storage and off-street parking.
The property is located at 445-447 Thurman Avenue in Columbus, Ohio 43206.
With two independently laid-out units, this building can work well for an owner-occupant seeking a house-hack setup, or for an investor looking for a straightforward duplex structure. The recent in-unit improvements and documented property updates may also be attractive to buyers who want to reduce near-term maintenance concerns while maintaining a simple rental configuration.
The property is located at 445-447 Thurman Avenue in Columbus, Ohio 43206.
With two independently laid-out units, this building can work well for an owner-occupant seeking a house-hack setup, or for an investor looking for a straightforward duplex structure. The recent in-unit improvements and documented property updates may also be attractive to buyers who want to reduce near-term maintenance concerns while maintaining a simple rental configuration.
Key Highlights
- Up/down duplex at 445‑447 Thurman Ave with two 1 bed, 1 bath units
- Approx. 900 SF per unit; shared laundry located on the lower level
- Unit 445 renovations include June 2022 updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,327
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,540
$306.5K
Cap Rate 7%
$218,957
$219.0K
Cap Rate 9%
$170,300
$170.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$23.5K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.9K $12.16/SF
− OpEx
−$6.6K −$3.65/SF
NOI
$15.3K $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 Rate 5%
$306,540
Cap Rate 7%
$218,957
Cap Rate 9%
$170,300
Alternative Uses
Best Use
Multifamily LT 5
$219.0K
$191.6K – $255.5K
NOI $15,327 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$176.1K
$154.1K – $205.5K
NOI $12,330 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$375.1K
$328.2K – $437.7K
NOI $26,259 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
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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 renovated 1-bedroom units with shared laundry and a detached three-car garage.
Where is this duplex located?
The property is located at 445-447 Thurman Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Up/down duplex at 445‑447 Thurman Ave with two 1 bed, 1 bath units; Approx. 900 SF per unit; shared laundry located on the lower level; Unit 445 renovations include June 2022 updates
