Updated Duplex With Two
For Sale
$344,900
906 Ellsworth Ave, Columbus, OH 43206
Each unit offers three bedrooms and one full bath, with multiple major systems updated between 2020 and 2021.
Property Size2,308 SF
Price / SF$149.44
Days on Market50
Property Features for 906 Ellsworth Ave
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Multi-Family
Occupancy
50%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Samuel Roper, Td Realty Ohio, LLC
Listed By:
Contact LOCAL Agent
(614) 291-1200
Source:
Realtyohio
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 7 at 7:12AM
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 Samuel Roper, Td Realty Ohio, LLC
Investment Insights
Based on property information with market context.
This updated duplex features two separate units, each with three bedrooms and one full bathroom. Unit 906 is currently leased through September, providing immediate rental income. Unit 908 is vacant and available to lease.
The property is located minutes from Downtown Columbus and near major highways, shopping, dining, and entertainment.
Recent improvements include new windows in 2021, new furnaces and AC in 2021, and new hot water tanks around 2020–2021. Additional upgrades include new electric work in 2020 and new plumbing in 2020, along with cosmetic improvements throughout completed between 2020 and 2024.
The property is located minutes from Downtown Columbus and near major highways, shopping, dining, and entertainment.
Recent improvements include new windows in 2021, new furnaces and AC in 2021, and new hot water tanks around 2020–2021. Additional upgrades include new electric work in 2020 and new plumbing in 2020, along with cosmetic improvements throughout completed between 2020 and 2024.
Key Highlights
- Updated duplex with 2 units; each unit has 3 bedrooms and 1 full bathroom
- Building size: 2,308 SF; Unit 906 is leased at $1,550/month through September
- Unit 908 is open to lease at $1,600/month
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
$19,653
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
5.70%
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%
$393,060
$393.1K
Cap Rate 7%
$280,757
$280.8K
Cap Rate 9%
$218,367
$218.4K
Market Conditions
NOI Build-Up for 2,308 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
$30.2K $13.08/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$28.1K $12.16/SF
− OpEx
−$8.4K −$3.65/SF
NOI
$19.7K $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%
$393,060
Cap Rate 7%
$280,757
Cap Rate 9%
$218,367
Alternative Uses
Best Use
Multifamily LT 5
$280.8K
$245.7K – $327.6K
NOI $19,653 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$225.8K
$197.6K – $263.5K
NOI $15,809 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$481.0K
$420.9K – $561.2K
NOI $33,670 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit offers three bedrooms and one full bath, with multiple major systems updated between 2020 and 2021.
Where is this duplex located?
The property is located at 906 Ellsworth Ave Columbus, OH.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: Updated duplex with 2 units; each unit has 3 bedrooms and 1 full bathroom; Building size: 2,308 SF; Unit 906 is leased at $1,550/month through September; Unit 908 is open to lease at $1,600/month
