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    Versatile Duplex with Conversion Option Title is generated by Realmo AI

    16 High School Avenue, Shelby, OH 44875

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    For Sale
    $169,900

    Two-unit duplex with flexible upstairs layout, offering rental income opportunities or conversion to a single-family home.

    Type:Multi-Family / Duplex
    Property size:
    3,287 SF
    Price / SF:
    $51/SF
    Added:
    Oct 15, 2025
    Days on Market:
    235
    Last Refresh:
    Jun 6 at 2:00 am

    Property Features for 16 High School Avenue

    General Information

    Standard status
    Active
    Size
    3,287 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Waynette S Chase

    Listing agent Waynette S Chase License #0000367985

    Listing office Sluss Realty Company

    Listing date Oct 15, 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 Sluss Realty Company

    HighLights

    • Duplex with 3,287 SF total living space, built in 1920
    • Downstairs unit has 3 bedrooms and 2 full bathrooms plus kitchen, family room, living room, and dedicated laundry area
    • Upstairs unit includes a living room, kitchen, full bath, 1 bedroom, and an additional room for flexible use
    • Interior heating includes steam heat and hot water; heat fuel is gas
    • Bonus option to convert the duplex back into a single‑family home

    Overview

    This property is a duplex totaling 3,287 square feet of living space, currently configured as two separate units. The downstairs unit offers three bedrooms and two full bathrooms, along with a kitchen, dedicated laundry area, a family room, and a living room. The upstairs unit includes a living room, kitchen, one full bathroom, and one bedroom plus an additional room that can function as a walk-in closet, home office, or second bedroom.

    The home is offered for sale as-is, with the seller indicating no repairs will be made. A key feature is the ability to maintain it as a duplex or convert it back into a single-family home to create one larger residence tailored to a buyer’s needs.

    For owner-occupants, the layout supports living in one unit while renting the other. For investors, the existing two-unit configuration provides rental income flexibility with clearly defined spaces and separate living areas. For multi-generational households or buyers seeking adaptability, the upstairs additional room and the option to reconfigure the property into a single-family home offer practical ways to match changing needs over time.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Shelby
    County
    Richland
    State
    Ohio
    Longitude
    -82.6515
    Latitude
    40.8848

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    FAQs

    What type of property is this?
    Duplex - Two-unit duplex with flexible upstairs layout, offering rental income opportunities or conversion to a single-family home.
    Where is this duplex located?
    The property is located at 16 High School Avenue Shelby, OH.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: Duplex with 3,287 SF total living space, built in 1920; Downstairs unit has 3 bedrooms and 2 full bathrooms plus kitchen, family room, living room, and dedicated laundry area; Upstairs unit includes a living room, kitchen, full bath, 1 bedroom, and an additional room for flexible use
    (419) 544-9707
    We can help!
    Listing Contact
    Waynette S Chase
    Real Estate License ID: 0000367985
    Learn More
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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.

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