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    Turnkey Updated Duplex Investment Title is generated by Realmo AI

    1150 S Ohio Avenue, Columbus, OH 43206

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    For Sale
    $370,000

    MULTI_FAMILY - Columbus, OH

    Lot size:
    0.12 Acres
    Added:
    Mar 20, 2026
    Days on Market:
    77
    Last Refresh:
    Jun 4 at 9:06 am

    Property Features for 1150 S Ohio Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 6
    Parking
    4
    Standard status
    Active
    APN
    010-032327
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4402

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air

    Building Details

    Year built
    1926
    Number of units
    2

    We can help!

    Listing Contact
    Lacey D Wheeler
    Lacey D Wheeler

    Listing agent Lacey D Wheeler License #2014000586

    Listing office Red 1 Realty 921 Eastwind Dr Suite 102, Columbus, OH

    Listing date Mar 20, 2026

    MLS# 226008334 Listing URL

    Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully occupied duplex with rental income of $1,525/month (1152) and $1,475/month (1150)
    • Brand‑new bathrooms in both units with glass‑door stand‑up showers
    • Recent updates include fresh paint and new light fixtures throughout
    • Refinished hardwood floors plus exterior paint and new water heaters for both units
    • New roof installed in 2026
    • Forced air heating and public sewer

    Overview

    This turnkey duplex presents an immediately investable setup with both units currently occupied. The property has benefited from extensive recent updates, including brand-new bathrooms with glass-door stand-up showers in each unit, fresh paint throughout, new light fixtures, refinished hardwood floors, and exterior paint. Additional improvements include new water heaters for both units and a newly installed roof in 2026. Unit 1152 features a completely new kitchen with countertops, appliances, and new first-floor flooring, while unit 1150 includes painted kitchen cabinets and new appliances.

    Located in Southern Orchards within Columbus, this is a curb-appeal-focused rental opportunity offered with curb offers only; showings are scheduled after an accepted offer. The existing rental income is in place, supporting an investor seeking dependable cash flow alongside manageable upkeep.

    With both sides updated and ready to operate, the duplex is well-suited for buyers looking for a conservative, turn-key residential income holding. The combination of modernized finishes, reduced immediate maintenance needs, and current occupancy makes it a practical fit for an investor portfolio or an owner-operator adding a low-effort asset to their mix.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.971706
    Latitude
    39.941409

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    FAQs

    What type of property is this?
    Duplex - A fully occupied duplex with extensive recent interior and exterior upgrades, offering low near-term maintenance for investors.
    Where is this duplex located?
    The property is located at 1150 S Ohio Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: Fully occupied duplex with rental income of $1,525/month (1152) and $1,475/month (1150); Brand‑new bathrooms in both units with glass‑door stand‑up showers; Recent updates include fresh paint and new light fixtures throughout
    (614) 530-7617
    We can help!
    Listing Contact
    Lacey D Wheeler
    Lacey D Wheeler
    Real Estate License ID: 2014000586
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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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