Updated Duplex Near
For Sale
$350,000
908-906 Ellsworth Ave, Columbus, OH 43206
Two residential units offer refreshed interiors and flexible occupancy options.
Property Size2,308 SF
Price / SF$151.65
Days on Market56
Property Features for 908-906 Ellsworth Ave
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Residential Income
Occupancy
50%
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,158
Building Details
Buildings
1
Listing Agency:
RE/MAX Connection
(614) 570-1352
Listed By:
Lory Kim · License #2023001372
(614) 570-1352
Source:
Exprealty
Added: Jun 28
Changed: Aug 21
Last Checked: Aug 21 at 1:09PM
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 RE/MAX Connection
Investment Insights
Based on property information with market context.
This two-unit residential property contains 2,308 square feet, with each unit arranged with 3 bedrooms and 1 full bathroom. Interior and building improvements include replacement windows installed in 2021, new furnaces and AC from 2021, hot water tanks updated around 2020-2021, electrical work completed in 2020, plumbing updated in 2020, and cosmetic improvements completed between 2020-2024. One unit is leased through September, while the other is vacant for a future occupant or lease arrangement.
Located at 908-906 Ellsworth Ave in Columbus, the duplex is minutes from Downtown Columbus, major highways, shopping, dining, and entertainment. The combination of a two-unit layout, recent system updates, and differing occupancy status provides a range of residential ownership and leasing configurations.
Located at 908-906 Ellsworth Ave in Columbus, the duplex is minutes from Downtown Columbus, major highways, shopping, dining, and entertainment. The combination of a two-unit layout, recent system updates, and differing occupancy status provides a range of residential ownership and leasing configurations.
Key Highlights
- Duplex with 2,308 square feet
- Each unit includes 3 bedrooms and 1 full bathroom
- One unit leased through September; the other unit is vacant
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
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer refreshed interiors and flexible occupancy options.
Where is this duplex located?
The property is located at 908-906 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: Duplex with 2,308 square feet; Each unit includes 3 bedrooms and 1 full bathroom; One unit leased through September; the other unit is vacant
