Duplex Investment
685-687 Gilbert Street Columbus, OH 43205
685-687 Gilbert Street, Columbus, OH, 43205
$475,000
For Sale
$475,000
Two connected units provide in-unit laundry, fenced yard space, and off-street parking with recent interior updates.
Property Size2,688 SF
Price / SF$176.71
Days on Market274
Property Features for 685-687 Gilbert Street
General Information
- Standard status
- Active
- Size
- 2,688 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1915
Listing agency
Team Results Realty
(614) 382-2124
Listed by
Scott A Marvin · License #2018003245
(614) 382-2124
Source
Compass
Added: Oct 23, 2025 Updated: Jul 22 at 4:12PM Checked: Jul 22 at 4:12PM
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 Team Results Realty
Investment Insights
Based on property information with market context.
This duplex contains two side-by-side units at 685 and 687 Gilbert Street. Both units include in-unit laundry and have dedicated outdoor space, with a private backyard on 685 and a private fenced yard on 687. Unit 685 features 3 bedrooms and 2.5 bathrooms and includes a detached two-car garage and a third-floor owner’s suite with a private bath and clawfoot tub. Unit 687 offers 3 bedrooms and 1 bathroom and includes in-unit laundry plus a dedicated off-street parking space.
The property is described in the remarks as being located just two streets from Nationwide Children’s Hospital. Unit 685 is one year into a three-year lease, and unit 687 is on a month-to-month lease, providing two distinct rental situations.
Recent updates noted for the duplex include a new furnace (2026), LVP flooring (2022), and new kitchen appliances (2022) for unit 685, along with new LVP flooring (2024) for unit 687.
The property is described in the remarks as being located just two streets from Nationwide Children’s Hospital. Unit 685 is one year into a three-year lease, and unit 687 is on a month-to-month lease, providing two distinct rental situations.
Recent updates noted for the duplex include a new furnace (2026), LVP flooring (2022), and new kitchen appliances (2022) for unit 685, along with new LVP flooring (2024) for unit 687.
Key Highlights
- Duplex built in 1915 with central air and gas forced‑air heating
- Unit 685: 3BR/2.5BA, private backyard, detached 2‑car garage; currently on 3‑year lease at $1,850/month
- Unit 687: 3BR/1BA with in‑unit laundry, private fenced yard, dedicated off‑street parking; month‑to‑month tenant at $1,250/month
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 | $35.2k | $13.08 |
| − Vacancy | −$2.5k | −$0.92 |
| EGI | $32.7k | $12.16 |
| − OpEx | −$9.8k | −$3.65 |
| NOI | $22.9k | $8.52 |
2,688 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$327.0K
$286.1K – $381.5K
NOI $22,889 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$263.0K
$230.2K – $306.9K
NOI $18,412 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$560.2K
$490.2K – $653.6K
NOI $39,213 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Two connected units provide in-unit laundry, fenced yard space, and off-street parking with recent interior updates.
Where is this duplex located?
The property is located at 685-687 Gilbert Street Columbus, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex built in 1915 with central air and gas forced‑air heating; Unit 685: 3BR/2.5BA, private backyard, detached 2‑car garage; currently on 3‑year lease at $1,850/month; Unit 687: 3BR/1BA with in‑unit laundry, private fenced yard, dedicated off‑street parking; month‑to‑month tenant at $1,250/month
