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    Turnkey Rented Duplex Investment Title is generated by Realmo AI

    358-360 East Markison Avenue, Columbus, OH 43207

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    For Sale
    $440,000

    Fully leased duplex with two-car garage, fenced yard, and first-floor laundry in renovated, low-maintenance condition.

    Type:Multi-Family / Duplex
    Property size:
    2,550 SF
    Price / SF:
    $172/SF
    Added:
    Nov 16, 2025
    Days on Market:
    202
    Last Refresh:
    Jun 6 at 2:21 am

    Property Features for 358-360 East Markison Avenue

    General Information

    Standard status
    Active
    Size
    2,550 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1895

    We can help!

    Listing Contact
    Rhiannon M Ferrari
    Rhiannon M Ferrari

    Listing agent Rhiannon M Ferrari License #2009003178

    Listing office EXP Realty, LLC

    Listing date Nov 16, 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 EXP Realty, LLC

    HighLights

    • Duplex built in 1895 with both sides fully leased through Sept 2026 and July 2027
    • Leases in place for $1,600 and $1,450 per month
    • Each unit features 3 bedrooms, including a finished third‑floor attic space on the 3rd floor
    • 360 side offers 1.5 baths; both units include first‑floor laundry
    • Central air and forced‑air gas heating; durable solid‑surface flooring throughout with no carpet
    • Fenced‑in yard plus a two‑car garage for off‑street parking

    Overview

    This turnkey duplex offers two fully leased units configured with three bedrooms each, including a finished third-floor attic space for added living flexibility. The property has been renovated and features durable solid surface flooring throughout, with no carpet. Each unit includes convenient first-floor laundry, and the 360 side includes 1.5 baths. Outside, the duplex provides a fenced-in yard and a two-car garage, supporting tenant convenience with off-street parking.

    The property is located in Merion Village, just seconds from High Street, Schiller Park, and German Village. The listing indicates strong day-to-day walkable access to area amenities and neighborhood destinations.

    For buyers seeking a stabilized, ready-to-manage residential income property, this duplex is positioned for straightforward operations with both sides currently leased through the noted lease terms. The unit mix, first-floor laundry, and low-maintenance flooring can help simplify resident turnover and routine upkeep, while the fenced yard and garage support tenant appeal and practical day-to-day living.

    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 $44.4k $17.40
    − Vacancy −$3.3k −$1.31
    EGI $41.0k $16.10
    − OpEx −$12.3k −$4.83
    NOI $28.7k $11.27
    2,550 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $410.4K
    $359.1K – $478.8K (±1% cap)
    NOI $28,730 @ 7.0% cap · market cap 6.53%
    Second Best
    Apartment 5plus
    $376.4K
    $329.4K – $439.2K (±1% cap)
    NOI $26,351 @ 7.0% cap · market cap 5.99%
    Theoretical Best
    Warehouse
    $514.0K
    $449.7K – $599.6K (±1% cap)
    NOI $35,977 @ 7.0% cap · market cap 8.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9861239
    Latitude
    39.9312832

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    FAQs

    What type of property is this?
    Duplex - Fully leased duplex with two-car garage, fenced yard, and first-floor laundry in renovated, low-maintenance condition.
    Where is this duplex located?
    The property is located at 358-360 East Markison Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $440,000.
    What are key features of this property?
    This property features: Duplex built in 1895 with both sides fully leased through Sept 2026 and July 2027; Leases in place for $1,600 and $1,450 per month; Each unit features 3 bedrooms, including a finished third‑floor attic space on the 3rd floor
    (614) 226-1039
    We can help!
    Listing Contact
    Rhiannon M Ferrari
    Rhiannon M Ferrari
    Real Estate License ID: 2009003178
    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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