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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    256 Rumsey Rd, Unit 258 Columbus, OH 43207

    • Small apartment buildings
    For Sale
    View listing
    $324,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0598651
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 256 Rumsey Rd

    Year built
    1938
    Property type
    Small apartment buildings

    Description

    This Columbus, Ohio investment property presents a remarkable opportunity. Priced at $449,000, this 1938-built duplex offers two units on a substantial 30,056.4 square foot lot. The property boasts two units: one with 3 bedrooms, 2 full baths, and 1128 square feet, featuring a full basement, new furnace, air conditioning, new carpet, vinyl flooring, updated kitchen cabinets, and appliances

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9889131
    Latitude
    39.8942971

    Comparable in this City

    • $565,000

      High Street Multifamily Investment

      Four-unit Columbus apartment building with upside.
      1470 High St, Columbus, OH 43207
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    • $475,000

      Merion Village Duplex Investment

      Updated Columbus Duplex, 2 Units, 50% Occupancy
      73-75 Markison Ave, Columbus, OH 43207
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    • $420,000

      High Street Duplex Investment

      Columbus duplex, two units, strong cash flow.
      1437 High St, Columbus, OH 43207
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    • $1,100,000

      Columbus Development Opportunity

      4.37 Acres, Multifamily Potential
      2000 Lockbourne Rd, Columbus, OH 43207
      View Details
    • $345,000
      3,750 SF

      Mixed-Use Building with Apartment

      3,750 SF building with retail/restaurant and apartment.
      181 E Innis Ave, Columbus, OH 43207
      View Details
    • $274,900
      0.20 Acres

      All-Brick Ranch Duplex Opportunity

      Columbus duplex: updated systems, spacious units, investment potential.
      1564 Smith Rd, Columbus, OH 43207
      View Details

    Similar Nearby for Sale

    • $565,000

      High Street Multifamily Investment

      Four-unit Columbus apartment building with upside.
      1470 High St, Columbus, OH 43207
      View Details
    • $475,000

      Merion Village Duplex Investment

      Updated Columbus Duplex, 2 Units, 50% Occupancy
      73-75 Markison Ave, Columbus, OH 43207
      View Details
    • $420,000

      High Street Duplex Investment

      Columbus duplex, two units, strong cash flow.
      1437 High St, Columbus, OH 43207
      View Details
    • $1,100,000

      Columbus Development Opportunity

      4.37 Acres, Multifamily Potential
      2000 Lockbourne Rd, Columbus, OH 43207
      View Details
    • $345,000
      3,750 SF

      Mixed-Use Building with Apartment

      3,750 SF building with retail/restaurant and apartment.
      181 E Innis Ave, Columbus, OH 43207
      View Details
    • $274,900
      0.20 Acres

      All-Brick Ranch Duplex Opportunity

      Columbus duplex: updated systems, spacious units, investment potential.
      1564 Smith Rd, Columbus, OH 43207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,351 SF

      Restaurant Space on High Street

      Restaurant space for lease in high-traffic Columbus retail corridor.
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      30,592 SF

      Columbus Warehouse Space For Lease

      Industrial and distribution space available in Columbus, Ohio.
      2215 Parsons Ave, Columbus, OH 43207
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    • Contact for pricing
      1,396 SF

      Prime Retail Space Near OSU

      Retail space in the heart of Ohio State's off-campus district.
      2020 North High St, Columbus, OH 43207
      View Details
    • Contact for pricing
      19,764 SF

      Columbus Warehouse: 19,764 SF

      Prime Columbus warehouse, 19,764 sq ft.
      1663 Watkins Rd, Columbus, OH 43207
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    • $3 SF/Yr
      87,641 SF

      Columbus Industrial Distribution Center Space

      Industrial space for lease in Columbus distribution center.
      1695 Williams Rd, Columbus, OH 43207
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    • Contact for pricing
      244,800 SF

      Columbus Industrial Portfolio Opportunity

      Three-building portfolio near I-270 and CSX intermodal yard.
      1580 Williams Rd, Columbus, OH 43207
      View Details
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    256 Rumsey Rd, Unit 258
    Columbus, OH 43207
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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