Spacious Duplex Investment
For Sale
Contact for pricing
1437 S High Street, Columbus, OH 43207
Well-maintained duplex with steady income in desirable location.
Property Size2,760 SF
Price / SF$152.17
Days on Market791
Property Features for 1437 S High Street
General Information
Standard status
Active
Size
2,760 SF
Total Parking Spaces
4
Property subtype
Multifamily
Net Operating Income
$27,000
Building Details
Year Built
1900
Units
2
Listing Agency:
Coldwell Banker Realty
Listed By:
Emily Tarter · License #2022004929
Source:
Crexi
Added: Jul 23, 2024
Changed: Sep 13
Last Checked: Sep 20 at 6:21AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex presents an investment opportunity, featuring two units. Each unit includes 3 bedrooms, 1 bathroom, and 1,380 sq. ft. of living space. Both units have private, fenced yards and full basements. The property is currently generating rental income of $1,285 and $1,325 per month. The property is fully leased with tenants. The location provides access to local shops, parks, and public transit.
Key Highlights
- Turnkey Investment: Fully leased with reliable tenants, ensuring immediate rental income.
- Strong Rental Income: Generating $1,285 and $1,325 per month, providing steady cash flow.
- Two Spacious Units: Each unit features 3 bedrooms and 1,380 sq. ft. of living space.
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
$31,096
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
7.40%
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%
$621,920
$621.9K
Cap Rate 7%
$444,229
$444.2K
Cap Rate 9%
$345,511
$345.5K
Market Conditions
NOI Build-Up for 2,760 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
$48.0K $17.40/SF
− Vacancy
−$3.6K −$1.31/SF
EGI
$44.4K $16.10/SF
− OpEx
−$13.3K −$4.83/SF
NOI
$31.1K $11.27/SF
Area
ZIP 43207
Vacancy
7.50%
Lease Rate
$17.40 /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%
$621,920
Cap Rate 7%
$444,229
Cap Rate 9%
$345,511
Alternative Uses
Best Use
Multifamily LT 5
$444.2K
$388.7K – $518.3K
NOI $31,096 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$407.4K
$356.5K – $475.4K
NOI $28,521 @ 7.0% cap · market cap 6.79%
Theoretical Best
Warehouse
$556.3K
$486.8K – $649.0K
NOI $38,940 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
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 - Well-maintained duplex with steady income in desirable location.
Where is this duplex located?
The property is located at 1437 S High Street Columbus, OH.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Turnkey Investment: Fully leased with reliable tenants, ensuring immediate rental income.; Strong Rental Income: Generating $1,285 and $1,325 per month, providing steady cash flow.; Two Spacious Units: Each unit features 3 bedrooms and 1,380 sq. ft. of living space.
