Renovated 4-Unit
For Sale
$565,000
644 South Hague Avenue Unit 644650, Columbus, OH 43204
Brick multifamily property with updated interiors, private fenced yards, off-street parking, and full basements for every residence.
Property Size5,976 SF
Price / SF$94.54
Days on Market145
Property Features for 644 South Hague Avenue Unit 644650
General Information
Standard status
Active
Size
5,976 SF
Property subtype
Multi-Family / Townhouse
Taxes and HOA fees
Annual Taxes
$3,517
Amenities
Window Unit(s)
Forced Air
Gas
Yes
Building Details
Year Built
1900
Listing Agency:
Red 1 Realty
(614) 560-7747
Listed By:
Roxy Ponce · License #2020006941
(614) 560-7747
Source:
Compass
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 31 at 2:08AM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
Located at 644 South Hague Avenue in Columbus, this 4-unit brick quadplex contains 5,976 square feet and was built in 1900. Each residence offers 2 bedrooms, 1 bathroom, a private fenced backyard, 2 off-street parking spaces, and a full basement. The property also includes forced-air gas heating and window units.
Three apartments have received extensive interior improvements, including LVP flooring, cabinetry, quartz countertops, kitchen and shower tile, lighting, plumbing fixtures, stainless steel appliances, and washer/dryers. Those three units share the same floor plan and finish package. Unit 646 remains available for cosmetic updating. A new roof was installed in 2026.
Three apartments have received extensive interior improvements, including LVP flooring, cabinetry, quartz countertops, kitchen and shower tile, lighting, plumbing fixtures, stainless steel appliances, and washer/dryers. Those three units share the same floor plan and finish package. Unit 646 remains available for cosmetic updating. A new roof was installed in 2026.
Key Highlights
- 4‑unit brick quadplex with 5,976 SF; built in 1900
- Three units feature matching renovated layouts and finishes
- Renovations include LVP flooring, cabinets, quartz counters, tile, fixtures, appliances, and washer/dryers
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
$50,886
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
9.01%
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%
$1,017,720
$1.0M
Cap Rate 7%
$726,943
$726.9K
Cap Rate 9%
$565,400
$565.4K
Market Conditions
NOI Build-Up for 5,976 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
$78.2K $13.08/SF
− Vacancy
−$5.5K −$0.92/SF
EGI
$72.7K $12.16/SF
− OpEx
−$21.8K −$3.65/SF
NOI
$50.9K $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%
$1,017,720
Cap Rate 7%
$726,943
Cap Rate 9%
$565,400
Alternative Uses
Best Use
Multifamily LT 5
$726.9K
$636.1K – $848.1K
NOI $50,886 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$584.8K
$511.7K – $682.2K
NOI $40,934 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,180 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 43204, OH
42,315
Population
19,286
Households
2.2
Avg Household Size
35
Median Age
25%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
4,502
Density / Sq Mi
$59,158
Median Household Income
$38,610
Median Earnings
$1,206
Median Rent
$170,900
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?
Quadplex - Brick multifamily property with updated interiors, private fenced yards, off-street parking, and full basements for every residence.
Where is this quadplex located?
The property is located at 644 South Hague Avenue Unit 644650 Columbus, OH.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 4‑unit brick quadplex with 5,976 SF; built in 1900; Three units feature matching renovated layouts and finishes; Renovations include LVP flooring, cabinets, quartz counters, tile, fixtures, appliances, and washer/dryers
