Two-Story Duplex with
New
For Sale
$350,000
923925 923-925 Bluffway Dr, Columbus, OH 43235
Two residential units feature refreshed finishes, fireplaces, garage parking, and a spacious deck.
Property Size3,208 SF
Lot Size0.29 Acres
Price / SF$109.10
Days on Market5
Property Features for 923925 923-925 Bluffway Dr
General Information
Standard status
Active
Size
3,208 SF
Total Parking Spaces
2
Lot size
0.29 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Amenities
Full Basement
Fireplace
Deck
Building Details
Year Built
1976
Buildings
1
Stories
2
Listing Agency:
Auction Ohio
Listed By:
Brian G Davis · License #2013000654
(614) 499-3340
Source:
Kwcore
Added: Sep 16
Last Checked: Sep 19 at 10:54AM
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 Auction Ohio
Investment Insights
Based on property information with market context.
This two-story duplex contains approximately 3,208 square feet of finished living space across two residential units. Each unit offers 3 bedrooms and 1.5 baths, for a combined total of 6 bedrooms, 2 full baths, and 2 half baths. The property also includes a full basement, two fireplaces, two garage spaces, and a spacious deck.
Built in 1976 on approximately 0.29± acres, the duplex is located in the Worthington City School District. Recent work includes a new Furnace-A/C, new water heater, newer roof, fresh paint, and new carpet on the 923 side, along with new carpet on the 925 side.
Built in 1976 on approximately 0.29± acres, the duplex is located in the Worthington City School District. Recent work includes a new Furnace-A/C, new water heater, newer roof, fresh paint, and new carpet on the 923 side, along with new carpet on the 925 side.
Key Highlights
- Two‑story duplex with two residential units
- Approximately 3,208 square feet of finished living space
- Each unit includes 3 bedrooms and 1.5 baths
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
$30,710
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
8.77%
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%
$614,200
$614.2K
Cap Rate 7%
$438,714
$438.7K
Cap Rate 9%
$341,222
$341.2K
Market Conditions
NOI Build-Up for 3,208 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
$58.9K $18.36/SF
− Vacancy
−$3.1K −$0.95/SF
EGI
$55.8K $17.41/SF
− OpEx
−$25.1K −$7.83/SF
NOI
$30.7K $9.57/SF
Area
ZIP 43235
Vacancy
5.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$614,200
Cap Rate 7%
$438,714
Cap Rate 9%
$341,222
Alternative Uses
Best Use
Multifamily LT 5
$485.9K
$425.2K – $566.9K
NOI $34,014 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$438.7K
$383.9K – $511.8K
NOI $30,710 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$649.6K
$568.4K – $757.9K
NOI $45,475 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 43235, OH
45,561
Population
20,855
Households
2.2
Avg Household Size
36
Median Age
59%
College-Educated
96%
High-School Grad
14.2 sq mi
ZIP Area
3,209
Density / Sq Mi
$86,758
Median Household Income
$54,814
Median Earnings
$1,412
Median Rent
$346,500
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 residential units feature refreshed finishes, fireplaces, garage parking, and a spacious deck.
Where is this duplex located?
The property is located at 923925 923-925 Bluffway Dr 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: Two‑story duplex with two residential units; Approximately 3,208 square feet of finished living space; Each unit includes 3 bedrooms and 1.5 baths
