Historic Duplex with
For Sale
$230,000
739 Maple Street, Columbus, IN 47201
Residential Income, Columbus, IN
Property Size2,296 SF
Lot Size0.14 Acres
Price / SF$100.17
Days on Market48
Property Features for 739 Maple Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RESIDENTIAL - 2 FAMILY DW
Rooms
Basement
Subdivision
Original Town Of Columbus
Elementary school
Lillian Schmitt Elementary School
Middle school
Central Middle School
High school
Columbus North High School
Elementary school district
Bartholomew Con School Corp
Middle school district
Bartholomew Con School Corp
High school district
Bartholomew Con School Corp
Directions
GPS Friendly
Standard status
Active
APN
039619310012000005
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Irwin Maple Grove Lot 22
Legal Description
Irwin Maple Grove Lot 22
Utilities
Heating system
Electric (Heating), Natural Gas, Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1905
Floors in Building
2
Number of units
2
Building materials
Aluminum Siding
Architectural style
Split Level
Listing Agency:
RE/MAX Tower · RE/MAX International
(812) 662-7878
Listed By:
Douglas Orr · License #RB17001806
(812) 662-7878
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 29 at 12:06AM
MLS# 22114116
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1905, this duplex contains 2,296 square feet of living space on a 6,000-square-foot lot. The 1.5-story layout includes a basement and split-level architectural design, providing a distinctive configuration for a two-family residential property. Aluminum siding forms the exterior, while heating is provided by forced air with natural gas and electric heating sources. Window units provide cooling.
Key Highlights
- 1905 construction with 2,296 square feet of living space
- Duplex configuration on a 6,000‑square‑foot lot
- 1.5‑story split‑level design
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
$15,328
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
6.66%
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%
$306,560
$306.6K
Cap Rate 7%
$218,971
$219.0K
Cap Rate 9%
$170,311
$170.3K
Market Conditions
NOI Build-Up for 2,296 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
$23.4K $10.20/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$21.9K $9.54/SF
− OpEx
−$6.6K −$2.86/SF
NOI
$15.3K $6.68/SF
Area
Bartholomew County, IN
Vacancy
6.50%
Lease Rate
$10.20 /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%
$306,560
Cap Rate 7%
$218,971
Cap Rate 9%
$170,311
Alternative Uses
Best Use
Multifamily LT 5
$219.0K
$191.6K – $255.5K
NOI $15,328 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$203.9K
$178.4K – $237.9K
NOI $14,275 @ 7.0% cap · market cap 6.21%
Theoretical Best
Healthcare Medical
$443.9K
$388.4K – $517.8K
NOI $31,070 @ 7.0% cap · market cap 13.51%
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
539
Businesses Nearby
Explore this area
Business Placement
Demographics for 47201, IN
45,969
Population
20,924
Households
2.2
Avg Household Size
36
Median Age
36%
College-Educated
92%
High-School Grad
201.2 sq mi
ZIP Area
228
Density / Sq Mi
$82,667
Median Household Income
$46,243
Median Earnings
$1,159
Median Rent
$217,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with split-level design, natural gas forced-air heat, and window-unit cooling.
Where is this duplex located?
The property is located at 739 Maple Street Columbus, IN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 1905 construction with 2,296 square feet of living space; Duplex configuration on a 6,000‑square‑foot lot; 1.5‑story split‑level design
