Residential Income Property with Short-Term
44 North 22nd Street Columbus, OH 43203
44 North 22nd Street, Columbus, OH, 43203
$549,900
For Sale
$549,900
Converted for short-term rentals with multiple units and two full baths each, with recent updates throughout.
Property Size3,174 SF
Price / SF$173.25
Days on Market76
Property Features for 44 North 22nd Street
General Information
- Standard status
- Active
- Size
- 3,174 SF
- Property subtype
- Multi-Family / Apartment
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Realty
(614) 206-5191
Listed by
Michael L Jones · License #416461
(614) 206-5191
Source
Compass
Added: May 9 Updated: Jul 10 at 1:51PM Checked: Jul 22 at 7:51AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This residential income property is currently operated as a short-term rental program, offering flexibility for future use as longer-term rentals or an owner-occupant setup. Each unit includes two full bathrooms, and the interiors feature updated kitchen cabinets and counters alongside original hardwood floors and character. Additional improvements include newer windows, fencing, and a deck. The basement has been professionally waterproofed with a fully transferable warranty.
The property is located in the King Lincoln District, just on the edge of Downtown Columbus and near the Columbus Museum of Art. A variety of services and entertainment are described as within a few blocks, including restaurants, a performance theater, and a pharmacy. The area is characterized as walkable, with public transportation convenience and three colleges within walking distance.
For buyers looking for a ready-to-operate short-term rental business, the property’s current unit configuration and unit-level bathroom count provide an immediate foundation. Alternatively, the layout and recent updates may support a transition to longer-term rental use or a comfortable owner-occupant arrangement, while the waterproofed basement and transferable warranty address below-grade concerns.
The property is located in the King Lincoln District, just on the edge of Downtown Columbus and near the Columbus Museum of Art. A variety of services and entertainment are described as within a few blocks, including restaurants, a performance theater, and a pharmacy. The area is characterized as walkable, with public transportation convenience and three colleges within walking distance.
For buyers looking for a ready-to-operate short-term rental business, the property’s current unit configuration and unit-level bathroom count provide an immediate foundation. Alternatively, the layout and recent updates may support a transition to longer-term rental use or a comfortable owner-occupant arrangement, while the waterproofed basement and transferable warranty address below-grade concerns.
Key Highlights
- Built in 1900 with original hardwood floors and added charm
- Central air cooling and forced‑air gas heating
- Currently operated as short‑term rentals with multiple units
Local Financial Insights For Apartment 5plus
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 | $42.3k | $13.32 |
| − Vacancy | −$2.7k | −$0.87 |
| EGI | $39.5k | $12.45 |
| − OpEx | −$17.8k | −$5.60 |
| NOI | $21.7k | $6.85 |
3,174 SF · lease $13.32/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$310.6K
$271.8K – $362.4K
NOI $21,741 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$661.5K
$578.8K – $771.7K
NOI $46,303 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
What type of property is this?
Short term rental property - Converted for short-term rentals with multiple units and two full baths each, with recent updates throughout.
Where is this short term rental property located?
The property is located at 44 North 22nd Street Columbus, OH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Built in 1900 with original hardwood floors and added charm; Central air cooling and forced‑air gas heating; Currently operated as short‑term rentals with multiple units
