Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2395 Summit Street Columbus, OH 43202

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Duplex in University District, currently rented, excellent growth prospects.

    Type:Multifamily
    Added:
    Sep 29, 2024
    Days on Market:
    570
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 2395 Summit Street

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    David E Barlow

    Listing agent David E Barlow License #2005001037

    Listing office Sell For One Percent

    Listing date Sep 29, 2024

    Source Crexi

    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 Sell For One Percent

    Overview

    University District Duplex Opportunity

    This is a duplex located in the University District area. Each side features 4 bedrooms and 1 1/2 baths. The property is currently a money-producing rental. Both sides are currently rented for a total of $3245. The owner pays for water and sewer. One side, 2395, was painted in February and the bathroom was recently updated. The property offers long-term growth prospects.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0006326
    Latitude
    40.0123505

    Nearby Similar for Sale

    • $675,000
      6,569 SF

      Spacious Multi-Unit Property in Columbus

      Four-unit property with renovation potential and modern architectural designs.
      143 S Garfield Ave, Columbus, OH 43205
      View Details
    • $548,000
      3,240 SF

      Minerva Park Office Building Opportunity

      Two-story office building in Minerva Park with dual-use flexibility.
      2505 Woodley Road, Columbus, OH 43231
      View Details
    • $499,900

      Turnkey Four-Unit Investment Opportunity

      Four-unit property with renovated units and value-add potential.
      1524 Genessee Avenue, Columbus, OH 43211
      View Details
    • $3,500,000
      30,746 SF

      Renovated Flex Building in Columbus

      31,656 SF renovated flex building near Downtown Columbus.
      1025 E 5th Avenue, Columbus, OH 43201
      View Details
    • $435,000

      Columbus Duplex with Buildable Lot

      Duplex near university, airport, and downtown with buildable lot.
      2263-2265 Leonard Avenue, Columbus, OH 43219
      View Details
    • $75,000
      6,320 SF

      Retail Space in Columbus, OH

      Retail space with full inventory in Columbus, Ohio.
      4996 Lindora Drive, Columbus, OH 43232
      View Details
    • $559,000

      Updated Duplex with Expansion Potential

      Updated Columbus duplex with fenced yard, parking, and expansion potential.
      59-59.5 W Fifth Avenue, Columbus, OH 43201
      View Details
    • $719,900

      Completely Rebuilt Two-Family Home

      Stunning, rebuilt two-family home near OSU and Short North.
      42 King Avenue, Columbus, OH 43201
      View Details
    • $370,000

      Updated Duplex in Southern Orchards

      Well-maintained, fully occupied duplex with recent updates and strong rental income.
      1150 S Ohio Avenue, Columbus, OH 43206
      View Details
    • $450,000

      Renovated Triplex in Columbus

      Turnkey triplex with renovated units, ideal for investors.
      1530 Genessee Avenue, Columbus, OH 43211
      View Details
    • $649,900

      Columbus Multifamily Investment Opportunity

      Multi-building property near Ohio State University with income potential.
      1810 Ashland Avenue, Columbus, OH 43212
      View Details
    • $675,000

      Historic German Village Duplex

      Updated historic duplex in German Village, ideal for various uses.
      623-625 S 6th Street, Columbus, OH 43206
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in University District, currently rented, excellent growth prospects.
    Where is this duplex located?
    The property is located at 2395 Summit Street Columbus, OH.
    What is the asking price?
    The asking price for this property is $499,888.
    What are key features of this property?
    This property features: Money‑producing rental property generating $3245/month.; Duplex in the University District area.; Each side features 4 bedrooms and 1 1/2 baths.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David E Barlow
    Real Estate License ID: 2005001037
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!