Two-Unit Duplex with
New
For Sale
$236,000
710 Kelton Ave, Columbus, OH 43205
Residential property with wood floors, laundry hookups, porch areas, backyard space, and a garage with opener.
Property Size1,774 SF
Price / SF$133.03
Days on Market7
Property Features for 710 Kelton Ave
General Information
Standard status
Active
Size
1,774 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
front porch
sun porch
ceiling fans
glass block windows
backyard
laundry hookup
garage
Building Details
Year Built
1900
Listing Agency:
Larry Stefanitsis, Red 1 Realty
(614) 402-5212
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 8:58AM
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 Larry Stefanitsis, Red 1 Realty
Investment Insights
Based on property information with market context.
This two-unit duplex was built in 1900 and includes one bedroom and one bathroom in each residence. Wood flooring runs throughout both units, and each has a laundry hookup. The property also features a covered front porch, sun porch, ceiling fans, basement glass block windows, and a backyard. A 2.5 garage with opener provides additional on-site utility.
The upstairs residence is vacant and has A/C, while the first-floor unit is occupied and does not have A/C. The property is being offered in as-is condition, with updates identified in the listing documents.
The upstairs residence is vacant and has A/C, while the first-floor unit is occupied and does not have A/C. The property is being offered in as-is condition, with updates identified in the listing documents.
Key Highlights
- Duplex with two one‑bedroom, one‑bathroom units
- Upstairs unit is vacant and includes A/C
- First‑floor unit is occupied and does not have A/C
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
$15,106
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
6.40%
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%
$302,120
$302.1K
Cap Rate 7%
$215,800
$215.8K
Cap Rate 9%
$167,844
$167.8K
Market Conditions
NOI Build-Up for 1,774 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
$23.2K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.6K $12.16/SF
− OpEx
−$6.5K −$3.65/SF
NOI
$15.1K $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%
$302,120
Cap Rate 7%
$215,800
Cap Rate 9%
$167,844
Alternative Uses
Best Use
Multifamily LT 5
$215.8K
$188.8K – $251.8K
NOI $15,106 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$173.6K
$151.9K – $202.5K
NOI $12,152 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$369.7K
$323.5K – $431.3K
NOI $25,880 @ 7.0% cap · market cap 10.97%
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
688
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 - Residential property with wood floors, laundry hookups, porch areas, backyard space, and a garage with opener.
Where is this duplex located?
The property is located at 710 Kelton Ave Columbus, OH.
What is the asking price?
The asking price for this property is $236,000.
What are key features of this property?
This property features: Duplex with two one‑bedroom, one‑bathroom units; Upstairs unit is vacant and includes A/C; First‑floor unit is occupied and does not have A/C
