Vacant-Ready 3BR
1157-1159 East 18th Avenue Columbus, OH 43211
1157-1159 East 18th Avenue, Columbus, OH, 43211
$229,900
Pending
For Sale
$229,900
Pending
Duplex with two 3-bedroom units, one vacant and ready, plus basements with laundry and storage.
Property Size2,352 SF
Days on Market115
Property Features for 1157-1159 East 18th Avenue
General Information
- Standard status
- Pending
- Size
- 2,352 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1923
Listing agency
Vision Realty, Inc.
(614) 414-2062
Listed by
Donald A Payne · License #2017001048
(614) 414-2062
Source
Compass
Added: Mar 30 Updated: Jul 10 at 1:53PM Checked: Jul 22 at 8:17AM
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 Vision Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex consists of two separate 3-bedroom, 1-bath units. The seller describes one unit as vacant and ready for an owner-occupant or new resident, while the other unit is currently rented. Each unit features a layout that includes living and dining areas, a kitchen, and bedrooms described as spacious. Basements are included for additional utility, with laundry and room for storage, and the property also offers outdoor space including a front patio and a large yard at the rear.
The property is located at 1157-1159 East 18th Avenue in Columbus, Ohio, and the seller notes it is minutes from the highway and close to shopping and local dining options.
From an operator or owner-occupant standpoint, the configuration supports either renting both sides or occupying one unit while leasing the other. The presence of basements with laundry and storage can help reduce tenant friction, and the vacancy allows for immediate occupancy planning. The currently rented unit is described as $1,400 per month, and the seller notes a market rate closer to $1,625.
The property is located at 1157-1159 East 18th Avenue in Columbus, Ohio, and the seller notes it is minutes from the highway and close to shopping and local dining options.
From an operator or owner-occupant standpoint, the configuration supports either renting both sides or occupying one unit while leasing the other. The presence of basements with laundry and storage can help reduce tenant friction, and the vacancy allows for immediate occupancy planning. The currently rented unit is described as $1,400 per month, and the seller notes a market rate closer to $1,625.
Key Highlights
- Duplex built in 1923 with two 3‑bedroom, 1‑bath units
- One unit is vacant and ready for an owner‑occupant or resident
- Second unit is rented for $1,400/month; market rate stated as closer to $1,625/month
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 | $30.8k | $13.08 |
| − Vacancy | −$2.2k | −$0.92 |
| EGI | $28.6k | $12.16 |
| − OpEx | −$8.6k | −$3.65 |
| NOI | $20.0k | $8.52 |
2,352 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.1K
$250.3K – $333.8K
NOI $20,027 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$230.2K
$201.4K – $268.5K
NOI $16,111 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$490.2K
$428.9K – $571.9K
NOI $34,312 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with two 3-bedroom units, one vacant and ready, plus basements with laundry and storage.
Where is this duplex located?
The property is located at 1157-1159 East 18th Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Duplex built in 1923 with two 3‑bedroom, 1‑bath units; One unit is vacant and ready for an owner‑occupant or resident; Second unit is rented for $1,400/month; market rate stated as closer to $1,625/month
