Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Duplex with Back Parking Title is generated by Realmo AI

    1586 Greenway Avenue Unit 1588, Columbus, OH 43203

    View on Map
    Claim this Listing
    For Sale
    $325,000

    Duplex offering two 3-bedroom units with back parking, ready for new ownership or lease-up plans.

    Type:Multi-Family / Duplex
    Property size:
    2,464 SF
    Price / SF:
    $131/SF
    Added:
    Dec 5, 2025
    Days on Market:
    183
    Last Refresh:
    Jun 6 at 4:14 am

    Property Features for 1586 Greenway Avenue Unit 1588

    General Information

    Standard status
    Active
    Size
    2,464 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Jodi E St Clair

    Listing agent Jodi E St Clair License #2023004190

    Listing office Home Station Realty

    Listing date Dec 5, 2025

    Source Compass

    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 Home Station Realty

    HighLights

    • Duplex with 2 units, each offering 3 bedrooms and 1 bathroom (upstairs)
    • Year built: 1910
    • Forced‑air gas heating
    • Parking available in back

    Overview

    This duplex includes two separate units, each with three bedrooms and one upstairs bathroom. The units are described as blank slates, giving a buyer flexibility to update finishes and tailor the spaces to the next tenant or owner-occupant’s needs. Parking is available in the back, supporting convenient day-to-day access.

    The property is located at 1586 Greenway Avenue, Unit 1588, in Columbus, Ohio (43203). The public remarks indicate the home is positioned in a neighborhood that is moving quickly, though no additional specific nearby amenities or traffic details are provided.

    For buyers looking for a straightforward residential income asset, the property’s duplex layout provides two dwelling units under one ownership structure. With both units currently presented as ready for new vision and updates, it may suit investors and owner-operators who want to complete renovations and establish a leasing or living plan around the existing 3-bedroom configuration and back parking.

    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 $32.2k $13.08
    − Vacancy −$2.3k −$0.92
    EGI $30.0k $12.16
    − OpEx −$9.0k −$3.65
    NOI $21.0k $8.52
    2,464 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $299.7K
    $262.3K – $349.7K (±1% cap)
    NOI $20,981 @ 7.0% cap · market cap 6.46%
    Second Best
    Apartment 5plus
    $241.1K
    $211.0K – $281.3K (±1% cap)
    NOI $16,878 @ 7.0% cap · market cap 5.19%
    Theoretical Best
    Office A
    $513.5K
    $449.3K – $599.1K (±1% cap)
    NOI $35,946 @ 7.0% cap · market cap 11.06%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9599962
    Latitude
    39.9742836

    Nearby Similar for Sale

    • $2,900,000
      30,746 SF

      Temperature-Controlled Flex Building

      Fully renovated, temperature-controlled flex building with heavy power, new sprinkler/roof, and three demised units.
      1025 E 5th Avenue, Columbus, OH 43201
      View Details
    • $700,000
      6,569 SF

      Spacious Four-Unit Property in Columbus

      Four-unit property with renovation potential and modern architectural designs.
      143 S Garfield Ave, Columbus, OH 43205
      View Details
    • $499,000
      3,240 SF

      Two-Story Office Building with Separate Entrances

      Well-maintained, ADA-accessible office building with ample parking and a layout designed for privacy or dual-use flexibility.
      2505 Woodley Road, Columbus, OH 43231
      View Details
    • $1,575,000
      13,200 SF

      High Street Commercial Building

      13,200 SF building on High Street with flexible layout.
      1885-1895 S High St, Columbus, OH 43207
      View Details
    • $165,000

      Fast-Casual Restaurant on Campus

      Fast-casual restaurant operating with dine-in, takeout, and delivery on a North High Street campus area.
      1762 N High Street, Columbus, OH 43201
      View Details
    • $1,100,000
      7,232 SF

      Historic Duplex in Dennison Place

      Rare opportunity: historic duplex near Short North, Downtown, and OSU.
      422-420 W 6th Avenue, Columbus, OH 43201
      View Details
    • Contact for pricing
      6,475 SF

      Commercial Condo Office Buildings

      Modern commercial condo office buildings suitable for various uses.
      3530 Snouffer Road, Columbus, OH 43235
      View Details
    • $1,650,000

      Renovated Multifamily Property in Columbus

      Turnkey 9-unit property with immediate income and upside potential.
      2080-2090 E 5th Avenue, Columbus, OH 43219
      View Details
    • $559,000

      Updated Duplex with Expansion Potential

      Updated Columbus duplex with fenced yard, parking, and expansion potential.
      59-59.5 W Fifth Avenue, Columbus, OH 43201
      View Details
    • $445,000

      All Brick Columbus Multi-Family Property

      Multi-family property with recent updates and long-term tenant.
      4714-4716 Arthur Court, Columbus, OH 43220
      View Details
    • $510,000

      Brick Duplex in Prime Location

      Investment opportunity: brick duplex near Italian Village and Short North.
      1374-1376 Indianola Avenue, Columbus, OH 43201
      View Details
    • $1,750,000
      40,763 SF

      Masonry Office Building with Parking

      A Columbus office building with 220 parking spaces, elevator service, and C-4 zoning, positioned for owner-user or conversion.
      6500-6500 Busch Blvd, Columbus, OH 43229
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex offering two 3-bedroom units with back parking, ready for new ownership or lease-up plans.
    Where is this duplex located?
    The property is located at 1586 Greenway Avenue Unit 1588 Columbus, OH.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Duplex with 2 units, each offering 3 bedrooms and 1 bathroom (upstairs); Year built: 1910; Forced‑air gas heating
    (740) 683-0178
    We can help!
    Listing Contact
    Jodi E St Clair
    Real Estate License ID: 2023004190
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1586 Greenway Avenue, Unit 1588, Columbus, OH 43203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!