Duplex Near Downtown
1656-1658 Forest Street Columbus, OH 43206
1656-1658 Forest Street, Columbus, OH, 43206
$245,000
For Sale
$245,000
Fully occupied duplex with recent updates and strong rental income.
Property Size1,612 SF
Price / SF$151.99
Days on Market261
Property Features for 1656-1658 Forest Street
General Information
- Standard status
- Active
- Size
- 1,612 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1941
Listing Agency
Red 1 Realty
(614) 665-5793
Listed by
Zeke Liston · License #2019005269
(614) 665-5793
Source
Compass
Added: Oct 29, 2025 Checked: Jul 16 at 7:44 am
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This fully occupied duplex is situated in a location near Downtown Columbus and Nationwide Children's Hospital. The property has been well maintained with recent updates including new windows in 2024 and new hot water tanks in both units in 2023. The hole in the kitchen ceiling is from a previous leak that has been remedied, and the ceiling is being patched and painted. Each unit consists of 2 bedrooms and 1 bathroom, a full separate basement, and yard space. Both units are occupied. Unit 1656 is rented at $980 per month until 7/31/2026, while unit 1658 is rented at $1,025 per month on a month-to-month lease. Tenants pay for all utilities. The property is professionally managed, and the manager is willing to stay in place. The property size is 1612 square feet.
Key Highlights
- Prime location near Downtown Columbus and Nationwide Children's Hospital.
- Fully occupied duplex generating immediate rental income.
- Recent updates including new windows (2024) and hot water tanks (2023).
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 | $21.1k | $13.08 |
| − Vacancy | −$1.5k | −$0.92 |
| EGI | $19.6k | $12.16 |
| − OpEx | −$5.9k | −$3.65 |
| NOI | $13.7k | $8.52 |
1,612 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$196.1K
$171.6K – $228.8K
NOI $13,726 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$157.7K
$138.0K – $184.0K
NOI $11,042 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$335.9K
$294.0K – $391.9K
NOI $23,516 @ 7.0% cap · market cap 9.60%
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 - Fully occupied duplex with recent updates and strong rental income.
Where is this duplex located?
The property is located at 1656-1658 Forest Street Columbus, OH.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Prime location near Downtown Columbus and Nationwide Children's Hospital.; Fully occupied duplex generating immediate rental income.; Recent updates including new windows (2024) and hot water tanks (2023).
