Two-Unit Duplex with
New
For Sale
$219,900
711-713 S Terrace Ave, Columbus, OH 43204
Both residences have hardwood floors and dedicated basement space.
Property Size2,528 SF
Price / SF$86.99
Days on Market3
Property Features for 711-713 S Terrace Ave
General Information
Standard status
Active
Size
2,528 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$26,400
Average Monthly Rent
$1,100
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
hardwood floors
basement
Building Details
Year Built
1928
Listing Agency:
Joellen Mapp, Signature Real Estate
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Sep 24
Last Checked: Sep 24 at 8:39AM
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 Joellen Mapp, Signature Real Estate
Investment Insights
Based on property information with market context.
This 2,528-square-foot duplex contains two 3-bedroom, 1-bathroom residences, each with its own basement and hardwood flooring. Built in 1928, the property is tenant-occupied, with professional management in place.
At 711-713 S Terrace Ave in Columbus, the property sits just north of Mound Street near a bus line. Downtown Columbus, major roadways, shopping, and employment centers are accessible from the area.
At 711-713 S Terrace Ave in Columbus, the property sits just north of Mound Street near a bus line. Downtown Columbus, major roadways, shopping, and employment centers are accessible from the area.
Key Highlights
- 2,528‑square‑foot duplex with two 3‑bedroom, 1‑bathroom residences
- Separate basement for each unit
- Hardwood flooring in both residences
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
$17,316
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
7.87%
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%
$346,320
$346.3K
Cap Rate 7%
$247,371
$247.4K
Cap Rate 9%
$192,400
$192.4K
Market Conditions
NOI Build-Up for 2,528 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
$33.7K $13.32/SF
− Vacancy
−$2.2K −$0.87/SF
EGI
$31.5K $12.45/SF
− OpEx
−$14.2K −$5.60/SF
NOI
$17.3K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$346,320
Cap Rate 7%
$247,371
Cap Rate 9%
$192,400
Alternative Uses
Best Use
Multifamily LT 5
$307.5K
$269.1K – $358.8K
NOI $21,526 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$247.4K
$216.5K – $288.6K
NOI $17,316 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$526.8K
$461.0K – $614.7K
NOI $36,879 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
367
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?
Duplex - Both residences have hardwood floors and dedicated basement space.
Where is this duplex located?
The property is located at 711-713 S Terrace Ave Columbus, OH.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 2,528‑square‑foot duplex with two 3‑bedroom, 1‑bathroom residences; Separate basement for each unit; Hardwood flooring in both residences
