Stone-and-Stucco
New
For Sale
$219,900
Pending
892-894 Salisbury Rd, Columbus, OH 43204
Separate layouts, full basements, and a detached garage support the property’s two-unit configuration.
Property Size1,988 SF
Days on Market5
Property Features for 892-894 Salisbury Rd
General Information
Standard status
Pending
Size
1,988 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1956
Construction
stone and stucco
Listing Agency:
Eric Gute, Associates Realty
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 9:44AM
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 Gute, Associates Realty
Investment Insights
Based on property information with market context.
Built in 1956, this stone-and-stucco duplex contains two residences: 892 has 3BR/1BA, while 894 has 2BR/1BA. Both units have full basements, hardwood floors, newer vinyl replacement windows, gas heat, central A/C, and city water and sewer. A detached two-car garage serves the property, with additional on-street and off-street parking. The 892 unit has an updated full bath, freshly painted bedrooms, and new kitchen vinyl flooring. Unit 894 includes a wooden deck and fenced backyard and is occupied.
Key Highlights
- Two units: 892 is 3BR/1BA; 894 is 2BR/1BA
- Full basements in both residences
- Detached two‑car garage, plus on‑street and off‑street parking
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
$16,928
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
7.70%
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%
$338,560
$338.6K
Cap Rate 7%
$241,829
$241.8K
Cap Rate 9%
$188,089
$188.1K
Market Conditions
NOI Build-Up for 1,988 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
$26.0K $13.08/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$24.2K $12.16/SF
− OpEx
−$7.3K −$3.65/SF
NOI
$16.9K $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%
$338,560
Cap Rate 7%
$241,829
Cap Rate 9%
$188,089
Alternative Uses
Best Use
Multifamily LT 5
$241.8K
$211.6K – $282.1K
NOI $16,928 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$194.5K
$170.2K – $227.0K
NOI $13,617 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$414.3K
$362.5K – $483.4K
NOI $29,002 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
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 - Separate layouts, full basements, and a detached garage support the property’s two-unit configuration.
Where is this duplex located?
The property is located at 892-894 Salisbury Rd 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: Two units: 892 is 3BR/1BA; 894 is 2BR/1BA; Full basements in both residences; Detached two‑car garage, plus on‑street and off‑street parking
