Brand-New Duplex with Two
For Sale
Contact for pricing
Pending
961-963 Heyl Avenue, Columbus, OH 43206
Newly built 2026 duplex offering two three-level units, each with three bedrooms, private baths, and fenced rear yards.
Property Size3,125 SF
Days on Market139
Property Features for 961-963 Heyl Avenue
General Information
Standard status
Pending
Size
3,125 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
fenced rear yards
concrete patios
garages
driveways
landscaped front yards
radon mitigation systems
Building Details
Year Built
2026
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams Capital Ptnrs
(614) 402-9451
Listed By:
Ric Smith · License #2009002512
Source:
Crexi
Added: Apr 6
Changed: Aug 8
Last Checked: Jul 25 at 8:19AM
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 Keller Williams Capital Ptnrs
Investment Insights
Based on property information with market context.
This brand-new 2026-built duplex includes two three-level homes, with each unit offering 3 bedrooms and 3.5 bathrooms. Interiors feature luxury vinyl plank flooring, recessed lighting, and modern finishes. Each kitchen is equipped with upgraded stainless steel appliances, including gas ranges, granite countertops, and bar seating with designer pendant lighting, plus pop-up outlets with USB ports. Both units include a first-floor half bath with a space-saving pocket door, two second-floor bedroom suites with private full bathrooms, and a nearby laundry room. The lower level provides a third large bedroom suite with a private bath and an egress window.
Outside, each home has a fenced rear yard with a concrete patio. Garages and driveways provide off-street parking, and the property also includes landscaped front yards. Additional in-unit features include ceiling fans in living areas and bedrooms, designer lighting fixtures, and radon mitigation systems in both units.
The builder indicates approximately 3,125 total square feet of living space across the duplex.
Outside, each home has a fenced rear yard with a concrete patio. Garages and driveways provide off-street parking, and the property also includes landscaped front yards. Additional in-unit features include ceiling fans in living areas and bedrooms, designer lighting fixtures, and radon mitigation systems in both units.
The builder indicates approximately 3,125 total square feet of living space across the duplex.
Key Highlights
- Brand‑new 2026‑built duplex with two three‑level units, each offering 3 bedrooms and 3.5 bathrooms.
- Each unit includes luxury vinyl plank flooring, recessed lighting, and upgraded stainless steel appliances with gas ranges.
- Kitchens feature granite countertops, bar seating with designer pendant lighting, and pop‑up outlets with USB ports.
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
$26,610
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
4.33%
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%
$532,200
$532.2K
Cap Rate 7%
$380,143
$380.1K
Cap Rate 9%
$295,667
$295.7K
Market Conditions
NOI Build-Up for 3,125 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
$40.9K $13.08/SF
− Vacancy
−$2.9K −$0.92/SF
EGI
$38.0K $12.16/SF
− OpEx
−$11.4K −$3.65/SF
NOI
$26.6K $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%
$532,200
Cap Rate 7%
$380,143
Cap Rate 9%
$295,667
Alternative Uses
Best Use
Multifamily LT 5
$380.1K
$332.6K – $443.5K
NOI $26,610 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$305.8K
$267.6K – $356.8K
NOI $21,406 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$651.3K
$569.9K – $759.8K
NOI $45,589 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,535
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 - Newly built 2026 duplex offering two three-level units, each with three bedrooms, private baths, and fenced rear yards.
Where is this duplex located?
The property is located at 961-963 Heyl Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Brand‑new 2026‑built duplex with two three‑level units, each offering 3 bedrooms and 3.5 bathrooms.; Each unit includes luxury vinyl plank flooring, recessed lighting, and upgraded stainless steel appliances with gas ranges.; Kitchens feature granite countertops, bar seating with designer pendant lighting, and pop‑up outlets with USB ports.
