Vacant Duplex with Attached
557 Summit Street Marion, OH 43302
557 Summit Street, Marion, OH, 43302
$159,900
For Sale
$159,900
MULTI_FAMILY - Marion, OH
Property Size1,913 SF
Lot Size0.20 Acres
Price / SF$83.59
Days on Market25
Property Features for 557 Summit Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Rooms
- Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 3
- Standard status
- Active
- APN
- 12-4320001.900
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1906
Utilities
- Utilities
- Electricity Available
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1910
- Number of units
- 2
Listing agency
RE/MAX Revealty
(614) 505-7438
Listed by
Joshua D Cooper · License #2021008773
(740) 341-2636
Added: Jun 28 Updated: Jul 22 at 12:08AM Checked: Jul 22 at 8:06AM
MLS# 226023944
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.
Investment Insights
Based on property information with market context.
This vacant, rent-ready duplex offers two separate living units under one roof, with a combined total of 1,913 square feet. The downstairs unit features 2 bedrooms and 1.5 baths, while the upstairs unit has 1 bedroom and 1 bath. Both units are fully vacant, providing a clean slate for leasing, renovation, or owner occupancy. The property also includes a 2-car attached garage, adding practical covered parking to the mix. Set on a 0.21-acre lot with public sewer, the duplex is positioned for straightforward management and clear unit separation.
Located in Marion, this property provides convenient access to downtown Marion, as well as nearby shops, parks, and schools, supporting day-to-day tenant needs. With both units available immediately, there is no waiting for move-ins or turnover.
The layout is well suited for an owner-occupant seeking to live in one unit while renting the other, or for an investor looking to place new tenants in both spaces. The prior tenants paid a combined $1,100 per month and covered all utilities, which can help guide budgeting as you set new lease terms. With the property already vacant and available, this duplex can support a prompt leasing plan once new agreements are in place.
Located in Marion, this property provides convenient access to downtown Marion, as well as nearby shops, parks, and schools, supporting day-to-day tenant needs. With both units available immediately, there is no waiting for move-ins or turnover.
The layout is well suited for an owner-occupant seeking to live in one unit while renting the other, or for an investor looking to place new tenants in both spaces. The prior tenants paid a combined $1,100 per month and covered all utilities, which can help guide budgeting as you set new lease terms. With the property already vacant and available, this duplex can support a prompt leasing plan once new agreements are in place.
Key Highlights
- Vacant duplex in Marion with 1,913 total SF and both units fully ready for new leasing or owner occupancy
- Two separate units: downstairs has 2 beds and 1.5 baths; upstairs has 1 bed and 1 bath
- Utilities available include electricity; services include public water and public sewer
Local 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 | $10.1k | $5.28 |
| − Vacancy | −$825 | −$0.43 |
| EGI | $9.3k | $4.85 |
| − OpEx | −$2.8k | −$1.45 |
| NOI | $6.5k | $3.39 |
1,913 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$92.8K
$81.2K – $108.2K
NOI $6,493 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$80.4K
$70.3K – $93.8K
NOI $5,626 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$386.2K
$337.9K – $450.5K
NOI $27,031 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit, fully vacant duplex with attached two-car garage, offering flexible owner-occupant or rental options.
Where is this duplex located?
The property is located at 557 Summit Street Marion, OH.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Vacant duplex in Marion with 1,913 total SF and both units fully ready for new leasing or owner occupancy; Two separate units: downstairs has 2 beds and 1.5 baths; upstairs has 1 bed and 1 bath; Utilities available include electricity; services include public water and public sewer
