Columbus Duplex: Investment
For Sale
$199,900
Pending
1418-1422 Miller Avenue, Columbus, OH 43206
Multi-unit property with investment potential in Columbus, Ohio.
Property Size1,792 SF
Days on Market770
Property Features for 1418-1422 Miller Avenue
General Information
Standard status
Pending
Size
1,792 SF
Property subtype
Multi-Family / Duplex
Taxes and HOA fees
Annual Taxes
$3,287
Amenities
Central Air
Forced Air
Electric
Yes
Building Details
Year Built
1950
Listing Agency:
Mainstay Brokerage LLC
Listed By:
Eva Marie Hockenberry · License #2022006228
(704) 859-2176
Source:
Compass
Added: Sep 12, 2024
Changed: Oct 13
Last Checked: Oct 20 at 11:31PM
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 Mainstay Brokerage LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-unit property presents a blend of comfortable living space and investment potential. The duplex features two units, each containing two bedrooms and one bathroom. One unit is currently occupied by a tenant, and the existing lease will transfer with the sale of the property. This property offers versatility, suitable for either homeownership with rental income or as a dedicated investment property.
Key Highlights
- Duplex offers both living space and investment opportunity.
- Each unit features two bedrooms and one bathroom.
- Existing tenant in one unit provides immediate rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,259
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,180
$305.2K
Cap Rate 7%
$217,986
$218.0K
Cap Rate 9%
$169,544
$169.5K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$23.4K $13.08/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$21.8K $12.16/SF
− OpEx
−$6.5K −$3.65/SF
NOI
$15.3K $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 Rate 5%
$305,180
Cap Rate 7%
$217,986
Cap Rate 9%
$169,544
Alternative Uses
Best Use
Multifamily LT 5
$218.0K
$190.7K – $254.3K
NOI $15,259 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$175.4K
$153.4K – $204.6K
NOI $12,275 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$373.5K
$326.8K – $435.7K
NOI $26,142 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
294
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Multi-unit property with investment potential in Columbus, Ohio.
Where is this duplex located?
The property is located at 1418-1422 Miller Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Duplex offers both living space and investment opportunity.; Each unit features **two bedrooms and one bathroom.**; Existing tenant in one unit provides **immediate rental income.**
