Renovated Townhouse
New
For Sale
$449,900
4947-4949 Kilconnel Dr, Columbus, OH 43221
Two townhouse residences feature basements, attached garages, decks, driveways, and enclosed rear yards.
Property Size2,690 SF
Price / SF$167.25
Days on Market5
Property Features for 4947-4949 Kilconnel Dr
General Information
Standard status
Active
Size
2,690 SF
Property subtype
Multi-Family
Building Details
Year Built
1988
Listing Agency:
Alicia Sweazy, RE/MAX Partners
(740) 389-2000
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 26 at 12:54PM
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 townhouse-style duplex contains two residences, each configured with 3 bedrooms, 2.5 baths, a basement, an attached garage, driveway parking, a deck, and a fenced backyard. The property was built in 1988. One unit has undergone extensive renovation, including a remodeled kitchen with stainless steel appliances, updated baths, new carpeting, fresh paint, luxury vinyl plank flooring, replacement windows and doors, updated lighting, a new deck, and mechanical improvements. Its crawl space has also been encapsulated.
The second residence is occupied on a month-to-month basis. The property sits at the edge of Hilliard, with access to Hilliard schools and Columbus taxes and amenities. Davidson Run, Dexter Falls Park, Mill Run, Dublin, Upper Arlington, I-270, Route 33, parks, schools, restaurants, and shopping are identified in the surrounding area.
The second residence is occupied on a month-to-month basis. The property sits at the edge of Hilliard, with access to Hilliard schools and Columbus taxes and amenities. Davidson Run, Dexter Falls Park, Mill Run, Dublin, Upper Arlington, I-270, Route 33, parks, schools, restaurants, and shopping are identified in the surrounding area.
Key Highlights
- Two‑unit townhouse duplex with 3 bedrooms and 2.5 baths per unit
- One residence recently renovated with updated kitchen, baths, flooring, windows, doors, lighting, and mechanicals
- Basement, attached garage, driveway parking, deck, and fenced backyard for each 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
$22,906
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
5.09%
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%
$458,120
$458.1K
Cap Rate 7%
$327,229
$327.2K
Cap Rate 9%
$254,511
$254.5K
Market Conditions
NOI Build-Up for 2,690 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
$35.2K $13.08/SF
− Vacancy
−$2.5K −$0.92/SF
EGI
$32.7K $12.16/SF
− OpEx
−$9.8K −$3.65/SF
NOI
$22.9K $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%
$458,120
Cap Rate 7%
$327,229
Cap Rate 9%
$254,511
Alternative Uses
Best Use
Multifamily LT 5
$327.2K
$286.3K – $381.8K
NOI $22,906 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$263.2K
$230.3K – $307.1K
NOI $18,426 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$560.6K
$490.5K – $654.1K
NOI $39,243 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Explore this area
Business Placement
Demographics for 43221, OH
33,844
Population
15,462
Households
2.2
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
9.5 sq mi
ZIP Area
3,563
Density / Sq Mi
$115,393
Median Household Income
$65,082
Median Earnings
$1,441
Median Rent
$419,200
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 townhouse residences feature basements, attached garages, decks, driveways, and enclosed rear yards.
Where is this duplex located?
The property is located at 4947-4949 Kilconnel Dr Columbus, OH.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑unit townhouse duplex with 3 bedrooms and 2.5 baths per unit; One residence recently renovated with updated kitchen, baths, flooring, windows, doors, lighting, and mechanicals; Basement, attached garage, driveway parking, deck, and fenced backyard for each unit
