Renovated Duplex with Full
For Sale
$299,900
660 Rhoads Ave, Columbus, OH 43205
Updated two-unit property with separate decks, contemporary finishes, and one vacant residence ready for occupancy.
Property Size1,677 SF
Price / SF$178.83
Days on Market50
Property Features for 660 Rhoads Ave
General Information
Standard status
Active
Size
1,677 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
front and rear decks
full basements
Building Details
Year Built
1941
Buildings
1
Listing Agency:
Ross Digiorgio, The Westwood Real Estate Co
(614) 226-1039
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 29 at 8:59AM
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.
This two-unit residential income property contains 1,677 square feet and was built in 1941. Each residence offers 3 bedrooms, a full basement, and front and rear decks. Recent improvements include a new roof, siding, and HVAC systems, along with refreshed kitchens featuring granite countertops, new cabinetry, tile backsplashes, and updated appliances. Renovated bathrooms, flooring, lighting, fixtures, and other interior finishes complete the updates.
One unit is leased through July 2027, while the second residence is vacant and available for occupancy. The full basements provide additional storage or functional space, and the property is located at 660 Rhoads Ave in Columbus, OH 43205.
One unit is leased through July 2027, while the second residence is vacant and available for occupancy. The full basements provide additional storage or functional space, and the property is located at 660 Rhoads Ave in Columbus, OH 43205.
Key Highlights
- Two‑unit duplex with 1,677 SF, built in 1941
- Each unit includes 3 bedrooms and a full basement
- New roof, siding, and HVAC systems
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
$14,280
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
4.76%
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%
$285,600
$285.6K
Cap Rate 7%
$204,000
$204.0K
Cap Rate 9%
$158,667
$158.7K
Market Conditions
NOI Build-Up for 1,677 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
$21.9K $13.08/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$20.4K $12.16/SF
− OpEx
−$6.1K −$3.65/SF
NOI
$14.3K $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%
$285,600
Cap Rate 7%
$204,000
Cap Rate 9%
$158,667
Alternative Uses
Best Use
Multifamily LT 5
$204.0K
$178.5K – $238.0K
NOI $14,280 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$164.1K
$143.6K – $191.5K
NOI $11,487 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$349.5K
$305.8K – $407.8K
NOI $24,465 @ 7.0% cap · market cap 8.16%
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
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
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 - Updated two-unit property with separate decks, contemporary finishes, and one vacant residence ready for occupancy.
Where is this duplex located?
The property is located at 660 Rhoads Ave Columbus, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,677 SF, built in 1941; Each unit includes 3 bedrooms and a full basement; New roof, siding, and HVAC systems
