Two-Unit
New
For Sale
$225,000
743 S Terrace Ave, Columbus, OH 43204
The residences provide different bedroom layouts, and both are currently rented.
Property Size2,290 SF
Price / SF$98.25
Days on Market2
Property Features for 743 S Terrace Ave
General Information
Standard status
Active
Size
2,290 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1928
Listing Agency:
Eric Looney, Coldwell Banker Realty
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Oct 7
Last Checked: Oct 7 at 11:08AM
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 Eric Looney, Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2,290-square-foot duplex, built in 1928, contains two residences. One has three bedrooms and one bathroom; the other offers two bedrooms and one bathroom. Both units are currently rented.
Key Highlights
- Two‑unit duplex totaling 2,290 square feet
- Three‑bedroom, one‑bathroom residence
- Two‑bedroom, one‑bathroom residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,500
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,000
$390.0K
Cap Rate 7%
$278,571
$278.6K
Cap Rate 9%
$216,667
$216.7K
Market Conditions
NOI Build-Up for 2,290 SF
Gross rent
$30.0K $13.08/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$27.9K $12.16/SF
− OpEx
−$8.4K −$3.65/SF
NOI
$19.5K $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 Rate 5%
$390,000
Cap Rate 7%
$278,571
Cap Rate 9%
$216,667
Alternative Uses
Best Use
Multifamily LT 5
$278.6K
$243.8K – $325.0K
NOI $19,500 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$224.1K
$196.1K – $261.4K
NOI $15,686 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$477.2K
$417.6K – $556.8K
NOI $33,407 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
320
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - The residences provide different bedroom layouts, and both are currently rented.
Where is this duplex located?
The property is located at 743 S Terrace Ave Columbus, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,290 square feet; Three‑bedroom, one‑bathroom residence; Two‑bedroom, one‑bathroom residence
