Updated Duplex with Two Three-Bedroom
For Sale
$350,000
906 Ellsworth Ave, Columbus, OH 43206
Two-unit residential property with renovated systems and convenient access to downtown, highways, shopping, dining, and entertainment.
Property Size2,308 SF
Price / SF$151.65
Days on Market19
Property Features for 906 Ellsworth Ave
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Adam Woodring, Mainstay Brokerage LLC
(614) 291-1200
Listed By:
Contact LOCAL Agent · License #2009003178
(614) 291-1200
Source:
Realtyohio
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 26 at 12:53PM
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 Adam Woodring, Mainstay Brokerage LLC
Investment Insights
Based on property information with market context.
This 2,308-square-foot duplex, built in 1900, contains two three-bedroom, one-bathroom units. The property has undergone substantial improvements, including window replacement in 2021, new furnaces and air-conditioning systems in 2021, and hot water tank updates around 2020–2021. Electrical and plumbing systems were replaced in 2020, while additional cosmetic work was completed between 2020 and 2024.
The property is located at 906 Ellsworth Ave in Columbus, Ohio, near Downtown Columbus, major highways, shopping, dining, and entertainment. One unit is leased, while the second is vacant, providing flexibility for an owner occupant or a new tenant arrangement.
The property is located at 906 Ellsworth Ave in Columbus, Ohio, near Downtown Columbus, major highways, shopping, dining, and entertainment. One unit is leased, while the second is vacant, providing flexibility for an owner occupant or a new tenant arrangement.
Key Highlights
- 2,308 SF duplex with two three‑bedroom, one‑bathroom units
- New windows installed in 2021
- New furnaces and AC installed in 2021
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
5.62%
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 5.62%
Second Best
Apartment 5plus
$225.8K
$197.6K – $263.5K
NOI $15,809 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$481.0K
$420.9K – $561.2K
NOI $33,670 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
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 - Two-unit residential property with renovated systems and convenient access to downtown, highways, shopping, dining, and entertainment.
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 $350,000.
What are key features of this property?
This property features: 2,308 SF duplex with two three‑bedroom, one‑bathroom units; New windows installed in 2021; New furnaces and AC installed in 2021
