Updated Duplex with Private
For Sale
$625,000
4786 Drayton Rd, Hilliard, OH 43026
Two leased units offer updated kitchens, private outdoor space, and individual garage access.
Property Size2,678 SF
Price / SF$233.38
Days on Market18
Property Features for 4786 Drayton Rd
General Information
Standard status
Active
Size
2,678 SF
Property subtype
Multi-Family
Building Details
Year Built
1986
Listing Agency:
Alicia Sweazy, RE/MAX Partners
(740) 389-2000
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 8:53AM
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 Alicia Sweazy, RE/MAX Partners
Investment Insights
Based on property information with market context.
This 1986-built duplex contains 2678 square feet and two currently rented units. Each residence includes 3 bedrooms, 1.5 bathrooms, an updated kitchen with stainless steel appliances, tile backsplash, and cabinet storage. Interior improvements include luxury vinyl plank flooring, fresh paint, and upgraded fixtures. The upper-level primary bedroom in each unit features a vaulted ceiling and walk-in closet.
Each unit has a private one-car garage and deck, while both residences share access to a large fenced backyard. The property is in the Hilliard School District and is located steps from Hilliard Davidson High School on Drayton Rd in Hilliard, Ohio.
Each unit has a private one-car garage and deck, while both residences share access to a large fenced backyard. The property is in the Hilliard School District and is located steps from Hilliard Davidson High School on Drayton Rd in Hilliard, Ohio.
Key Highlights
- Two‑unit duplex with both residences currently rented
- Each unit offers 3 bedrooms and 1.5 bathrooms
- 2678 SF property built in 1986
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
$28,395
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
4.54%
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%
$567,900
$567.9K
Cap Rate 7%
$405,643
$405.6K
Cap Rate 9%
$315,500
$315.5K
Market Conditions
NOI Build-Up for 2,678 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
$43.4K $16.20/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$40.6K $15.15/SF
− OpEx
−$12.2K −$4.54/SF
NOI
$28.4K $10.60/SF
Area
Franklin County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$567,900
Cap Rate 7%
$405,643
Cap Rate 9%
$315,500
Alternative Uses
Best Use
Multifamily LT 5
$405.6K
$354.9K – $473.3K
NOI $28,395 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$395.3K
$345.9K – $461.2K
NOI $27,673 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$546.0K
$477.7K – $637.0K
NOI $38,218 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 43026, OH
64,607
Population
25,671
Households
2.5
Avg Household Size
35
Median Age
55%
College-Educated
96%
High-School Grad
35.3 sq mi
ZIP Area
1,830
Density / Sq Mi
$110,369
Median Household Income
$59,770
Median Earnings
$1,430
Median Rent
$324,300
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 - Two leased units offer updated kitchens, private outdoor space, and individual garage access.
Where is this duplex located?
The property is located at 4786 Drayton Rd Hilliard, OH.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently rented; Each unit offers 3 bedrooms and 1.5 bathrooms; 2678 SF property built in 1986
