Duplex with Bonus Lower
For Sale
$310,000
5639 Maple Canyon Ave, Columbus, OH 43229
Two residences provide a leased unit alongside a vacant side ready for occupancy.
Property Size2,368 SF
Price / SF$130.91
Days on Market9
Property Features for 5639 Maple Canyon Ave
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Ross Digiorgio, The Westwood Real Estate Co
(614) 226-1039
Listed By:
Rhiannon Ferrari
(614) 226-1039
Source:
Ferrarihomegroup
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 26 at 12:37PM
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 Ross Digiorgio, The Westwood Real Estate Co
Investment Insights
Based on property information with market context.
Located at 5639 Maple Canyon Ave in Columbus, Ohio, this 2,368-square-foot duplex was built in 1968 and contains two separate residences. One side offers three bedrooms, 1.5 baths, and a two-car garage. The other includes two bedrooms, 1.5 baths, and an additional lower-level bonus area.
The property is situated in the Forest Park East neighborhood. One residence is leased, while the second side is vacant and ready for occupancy, giving the next owner flexibility in how the two units are used. The configuration supports both sides being leased or one residence being occupied while the other remains available for rental use.
The property is situated in the Forest Park East neighborhood. One residence is leased, while the second side is vacant and ready for occupancy, giving the next owner flexibility in how the two units are used. The configuration supports both sides being leased or one residence being occupied while the other remains available for rental use.
Key Highlights
- 2,368 SF duplex constructed in 1968
- One unit features 3 bedrooms, 1.5 baths, and a two‑car garage
- Second unit offers 2 bedrooms, 1.5 baths, and a bonus lower level
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
$25,196
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
8.13%
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%
$503,920
$503.9K
Cap Rate 7%
$359,943
$359.9K
Cap Rate 9%
$279,956
$280.0K
Market Conditions
NOI Build-Up for 2,368 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
$38.4K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$36.0K $15.20/SF
− OpEx
−$10.8K −$4.56/SF
NOI
$25.2K $10.64/SF
Area
ZIP 43229
Vacancy
6.17%
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%
$503,920
Cap Rate 7%
$359,943
Cap Rate 9%
$279,956
Alternative Uses
Best Use
Multifamily LT 5
$359.9K
$315.0K – $419.9K
NOI $25,196 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,919 @ 7.0% cap · market cap 7.07%
Theoretical Best
Warehouse
$596.2K
$521.7K – $695.6K
NOI $41,737 @ 7.0% cap · market cap 13.46%
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
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 43229, OH
54,310
Population
23,290
Households
2.3
Avg Household Size
34
Median Age
24%
College-Educated
83%
High-School Grad
9.0 sq mi
ZIP Area
6,034
Density / Sq Mi
$53,430
Median Household Income
$35,181
Median Earnings
$1,082
Median Rent
$210,600
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 residences provide a leased unit alongside a vacant side ready for occupancy.
Where is this duplex located?
The property is located at 5639 Maple Canyon Ave Columbus, OH.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2,368 SF duplex constructed in 1968; One unit features 3 bedrooms, 1.5 baths, and a two‑car garage; Second unit offers 2 bedrooms, 1.5 baths, and a bonus lower level
