Value-Add Triplex
942 North Cassady Avenue Columbus, OH 43219
For Sale
$250,000
Pending
Triplex with three 2-bedroom, 1-bath units on flexible month-to-month leases.
Property Size2,295 SF
Days on Market47
Property Features for 942 North Cassady Avenue
General Information
- Standard status
- Pending
- Size
- 2,295 SF
- Property subtype
- Multi-Family / Apartment
Building Details
- Year Built
- 1962
Listing Agency:
Red 1 Realty
(614) 665-5793
Listed By:
Zeke Liston · License #2019005269
(614) 665-5793
Source:
Compass
Added: Jun 7
Changed: Jul 23
Last Checked: Jul 23 at 11:12AM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This value-add triplex includes three separate units, each offering a functional 2-bedroom, 1-bath layout. All three units are currently on flexible month-to-month leases. Unit A is rented at $990 per month, Unit B at $1,000 per month, and Unit C at $500 per month.
The property is located at 942 North Cassady Avenue in Columbus, Ohio, near downtown Columbus, within a high-demand rental pocket.
For buyers seeking a residential income asset with immediate repositioning opportunities, the staggered current rents provide a clear path to aligning income with market levels through updated leasing and unit performance.
The property is located at 942 North Cassady Avenue in Columbus, Ohio, near downtown Columbus, within a high-demand rental pocket.
For buyers seeking a residential income asset with immediate repositioning opportunities, the staggered current rents provide a clear path to aligning income with market levels through updated leasing and unit performance.
Key Highlights
- Triplex with 3 units, each offering a 2‑bedroom, 1‑bath layout
- All units are on flexible month‑to‑month leases
- Current rents: Unit A $990/mo, Unit B $1,000/mo, Unit C $500/mo
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.0k | $13.08 |
| − Vacancy | −$2.1k | −$0.92 |
| EGI | $27.9k | $12.16 |
| − OpEx | −$8.4k | −$3.65 |
| NOI | $19.5k | $8.52 |
2,295 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$279.2K
$244.3K – $325.7K
NOI $19,542 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$224.6K
$196.5K – $262.0K
NOI $15,720 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,480 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex with three 2-bedroom, 1-bath units on flexible month-to-month leases.
Where is this triplex located?
The property is located at 942 North Cassady Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Triplex with 3 units, each offering a 2‑bedroom, 1‑bath layout; All units are on flexible month‑to‑month leases; Current rents: Unit A $990/mo, Unit B $1,000/mo, Unit C $500/mo
