Up-Down Duplex Income
For Sale
$154,900
500 E Chillicothe Avenue, Bellefontaine, OH 43311
MULTI_FAMILY - Bellefontaine, OH
Property Size1,456 SF
Lot Size0.08 Acres
Price / SF$106.39
Days on Market50
Property Features for 500 E Chillicothe Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multiple
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
None
Basement
Block
Lot features
Residential Lot
Elementary school district
4601 Bellefontaine CSD
Middle school district
4601 Bellefontaine CSD
High school district
4601 Bellefontaine CSD
Directions
Main to Chillicothe to Address
Subdivision
901 Bellefontaine
Standard status
Active
APN
170921303002000
Size
1,456 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Listing Agency:
Zimmerman Realty Ltd.
(937) 592-4896
Listed By:
Kyle Springs · License #2005015645
(937) 592-4896
Added: Jun 13
Changed: Jul 28
Last Checked: Aug 1 at 2:06AM
MLS# 1046381
Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This up-down duplex offers two separate residential units under one roof. The lower unit includes 2 bedrooms and 1 bathroom and is currently rented. The upper unit includes 1 bedroom and 1 bathroom and is currently vacant. The property has updated electric and gas meters, providing a straightforward setup for tenant service management.
The duplex is located near downtown Bellefontaine in Logan County, Ohio. The property sits on a small lot and is presented as a residential income asset suitable for ownership with a focus on maintaining separate unit tenancy.
For investors or owner-operators, the current configuration supports immediate rental activity with the lower unit while the upper unit provides flexibility for an incoming tenant. The clear unit mix—2 bed/1 bath below and 1 bed/1 bath above—may appeal to a range of household needs, depending on how the upper unit is prepared for occupancy.
The duplex is located near downtown Bellefontaine in Logan County, Ohio. The property sits on a small lot and is presented as a residential income asset suitable for ownership with a focus on maintaining separate unit tenancy.
For investors or owner-operators, the current configuration supports immediate rental activity with the lower unit while the upper unit provides flexibility for an incoming tenant. The clear unit mix—2 bed/1 bath below and 1 bed/1 bath above—may appeal to a range of household needs, depending on how the upper unit is prepared for occupancy.
Key Highlights
- Up/down duplex close to downtown Bellefontaine with two separate units
- Lower unit has 2 bedrooms and 1 bath; currently rented for $750/month
- Upper unit has 1 bedroom and 1 bath; currently vacant (last rented for $375)
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 | $7.7k | $5.28 |
| − Vacancy | −$628 | −$0.43 |
| EGI | $7.1k | $4.85 |
| − OpEx | −$2.1k | −$1.45 |
| NOI | $4.9k | $3.39 |
1,456 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$70.6K
$61.8K – $82.4K
NOI $4,942 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$61.2K
$53.5K – $71.4K
NOI $4,282 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$293.9K
$257.2K – $342.9K
NOI $20,574 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Up-down duplex with two-bedroom lower unit and vacant one-bedroom upper, plus updated electric and gas meters.
Where is this duplex located?
The property is located at 500 E Chillicothe Avenue Bellefontaine, OH.
What is the asking price?
The asking price for this property is $154,900.
What are key features of this property?
This property features: Up/down duplex close to downtown Bellefontaine with two separate units; Lower unit has 2 bedrooms and 1 bath; currently rented for $750/month; Upper unit has 1 bedroom and 1 bath; currently vacant (last rented for $375)
