Updated Duplex with Long-Term
631-633 Thurman Avenue Columbus, OH 43206
631-633 Thurman Avenue, Columbus, OH, 43206
$299,999
For Sale
$299,999
Meticulously maintained duplex with long-term rental income and modern updates.
Property Size2,016 SF
Price / SF$148.81
Days on Market57
Property Features for 631-633 Thurman Avenue
General Information
- Standard status
- Active
- Size
- 2,016 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1947
Listing Agency
Real Estate Opportunity
(740) 361-4839
Listed by
Brett Gregory · License #2023001914
(740) 361-4839
Source
Compass
Added: May 21 Checked: Jul 16 at 5:58 am
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 Real Estate Opportunity
Investment Insights
Based on property information with market context.
The property at 631-633 Thurman Ave is a meticulously maintained and extensively updated duplex. It offers long-term rental income and modern comfort throughout. Both units have been thoughtfully improved. Major updates include kitchen appliances, washers and dryers in each unit, hot water tanks, a roof on the house and garage, and fresh interior paint throughout. The units feature large main bedrooms, offering comfortable living space. A two-car garage provides off-street parking and storage. Unit 631 Thurman is rented at $1,250 per month, leased through April 30, 2027. Unit 633 Thurman is rented at $1,300 per month, leased through July 31, 2026. The property size is 2,016 square feet.
Key Highlights
- Strong, long‑term rental income from two units.
- Both units are leased through 2027 and 2026 respectively, providing immediate cash flow.
- Meticulously maintained and extensively updated duplex.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.4k | $13.08 |
| − Vacancy | −$1.8k | −$0.92 |
| EGI | $24.5k | $12.16 |
| − OpEx | −$7.4k | −$3.65 |
| NOI | $17.2k | $8.52 |
2,016 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$245.2K
$214.6K – $286.1K
NOI $17,166 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,809 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$420.1K
$367.6K – $490.2K
NOI $29,410 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Meticulously maintained duplex with long-term rental income and modern updates.
Where is this duplex located?
The property is located at 631-633 Thurman Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Strong, long‑term rental income from two units.; Both units are leased through 2027 and 2026 respectively, providing immediate cash flow.; Meticulously maintained and extensively updated duplex.
