Fully Remodeled
For Sale
$335,000
Pending
731-733 Seymour Avenue, Columbus, OH 43205
Two vacant, fully renovated units with new electrical and plumbing and modern LVP flooring throughout.
Property Size2,520 SF
Days on Market57
Property Features for 731-733 Seymour Avenue
General Information
Standard status
Pending
Size
2,520 SF
Property subtype
Multi-Family / Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,276
Amenities
Window Unit(s)
Forced Air
Gas
Yes
Building Details
Year Built
1922
Listing Agency:
Carleton Realty, LLC
(614) 580-4672
Listed By:
Diana L Kutschbach · License #434637
(614) 580-4672
Source:
Compass
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 8 at 4:44PM
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 Carleton Realty, LLC
Investment Insights
Based on property information with market context.
This fully remodeled duplex features two vacant units, each updated with new electrical and plumbing systems, modern LVP flooring throughout, and fresh contemporary finishes. The property is presented in move-in condition and is ready to occupy or rent out.
Located at 731–733 Seymour Avenue in Columbus, the duplex is described as being just minutes from Downtown, Olde Towne East, Nationwide Children’s Hospital, and Bexley, providing convenient access to major destinations.
With both sides vacant and completely renovated, the configuration supports flexible occupancy and streamlined management for a buyer seeking immediate use of the full property.
Located at 731–733 Seymour Avenue in Columbus, the duplex is described as being just minutes from Downtown, Olde Towne East, Nationwide Children’s Hospital, and Bexley, providing convenient access to major destinations.
With both sides vacant and completely renovated, the configuration supports flexible occupancy and streamlined management for a buyer seeking immediate use of the full property.
Key Highlights
- Fully remodeled duplex with both sides vacant, ready for owner‑occupant or investment use
- Both units were completely renovated with new electrical and plumbing systems
- Modern LVP flooring throughout both units
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
$21,458
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
6.41%
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%
$429,160
$429.2K
Cap Rate 7%
$306,543
$306.5K
Cap Rate 9%
$238,422
$238.4K
Market Conditions
NOI Build-Up for 2,520 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
$33.0K $13.08/SF
− Vacancy
−$2.3K −$0.92/SF
EGI
$30.7K $12.16/SF
− OpEx
−$9.2K −$3.65/SF
NOI
$21.5K $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%
$429,160
Cap Rate 7%
$306,543
Cap Rate 9%
$238,422
Alternative Uses
Best Use
Multifamily LT 5
$306.5K
$268.2K – $357.6K
NOI $21,458 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,262 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$525.2K
$459.5K – $612.7K
NOI $36,763 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
677
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 - Two vacant, fully renovated units with new electrical and plumbing and modern LVP flooring throughout.
Where is this duplex located?
The property is located at 731-733 Seymour Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Fully remodeled duplex with both sides vacant, ready for owner‑occupant or investment use; Both units were completely renovated with new electrical and plumbing systems; Modern LVP flooring throughout both units
