Brick Two-Unit
New
For Sale
$525,000
622 Neil Ave, Columbus, OH 43215
Both residences offer three bedrooms and one-and-a-half bathrooms, with separate 200-amp breaker panels.
Property Size2,000 SF
Price / SF$262.50
Days on Market3
Property Features for 622 Neil Ave
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1900
Construction
Classic Brick
Listing Agency:
Sonji Cooke, Realty One Elements
Listed By:
Rhiannon Ferrari
(614) 226-1039
Source:
Ferrarihomegroup
Added: Oct 4
Last Checked: Oct 5 at 6:42PM
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 Sonji Cooke, Realty One Elements
Investment Insights
Based on property information with market context.
This brick duplex has a townhouse-style layout with two residences, each featuring 3 bedrooms and 1.5 bathrooms. Each unit has a 200-amp breaker panel. Most windows have been replaced with insulated, pull-in models, and most kitchen appliances are newer stainless steel. The roof was replaced 6 years ago.
The property is on Neil Avenue in Columbus, next to Goodale Park and within the Victorian Village area.
The property is on Neil Avenue in Columbus, next to Goodale Park and within the Victorian Village area.
Key Highlights
- Two brick townhouse‑style residences, each with 3 bedrooms and 1.5 bathrooms
- Separate 200‑amp breaker panels in both units
- Roof replaced 6 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,030
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,600
$340.6K
Cap Rate 7%
$243,286
$243.3K
Cap Rate 9%
$189,222
$189.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$26.2K $13.08/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$24.3K $12.16/SF
− OpEx
−$7.3K −$3.65/SF
NOI
$17.0K $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%
$340,600
Cap Rate 7%
$243,286
Cap Rate 9%
$189,222
Alternative Uses
Best Use
Multifamily LT 5
$243.3K
$212.9K – $283.8K
NOI $17,030 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$195.7K
$171.3K – $228.3K
NOI $13,700 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$416.8K
$364.7K – $486.3K
NOI $29,177 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences offer three bedrooms and one-and-a-half bathrooms, with separate 200-amp breaker panels.
Where is this duplex located?
The property is located at 622 Neil Ave Columbus, OH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two brick townhouse‑style residences, each with 3 bedrooms and 1.5 bathrooms; Separate 200‑amp breaker panels in both units; Roof replaced 6 years ago
