Vacant Duplex with Attached
557 Summit Street Marion, OH 43302
557 Summit Street, Marion, OH, 43302
$159,900
For Sale
$159,900
Vacant duplex with two separate units, each with private bedroom and bath counts, plus an attached two-car garage.
Property Size1,913 SF
Lot Size0.21 Acres
Price / SF$83.59
Days on Market46
Property Features for 557 Summit Street
General Information
- Standard status
- Active
- Size
- 1,913 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1910
Listing agency
RE/MAX Revealty
(740) 341-2636
Listed by
Joshua D Cooper · License #2021008773
(740) 341-2636
Source
Compass
Added: Jun 6 Updated: Jul 21 at 5:24PM Checked: Jul 21 at 5:24PM
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 RE/MAX Revealty
Investment Insights
Based on property information with market context.
This vacant, rent-ready duplex offers two separate units with a combined total of 1,913 square feet. The downstairs unit features 2 bedrooms and 1.5 baths, while the upstairs unit includes 1 bedroom and 1 bath. Both units are fully vacant, providing flexibility for new tenants, renovation, or owner occupancy. An attached two-car garage adds practical off-street parking and storage.
The property sits on a 0.21-acre lot and is served by public sewer. It is positioned in Marion with convenient access to Downtown Marion, shops, parks, and schools.
The unit configuration supports straightforward leasing and household flexibility, with each unit having its own bedroom and bath layout.
The property sits on a 0.21-acre lot and is served by public sewer. It is positioned in Marion with convenient access to Downtown Marion, shops, parks, and schools.
The unit configuration supports straightforward leasing and household flexibility, with each unit having its own bedroom and bath layout.
Key Highlights
- Vacant duplex in Marion with two separate units totaling 1,913 SF, ready for leasing or owner‑occupancy
- Downstairs unit: 2 bedrooms and 1.5 baths; upstairs unit: 1 bedroom and 1 bath
- Both units are fully vacant, offering a clean slate for new tenants and rent‑setting
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 | $10.1k | $5.28 |
| − Vacancy | −$825 | −$0.43 |
| EGI | $9.3k | $4.85 |
| − OpEx | −$2.8k | −$1.45 |
| NOI | $6.5k | $3.39 |
1,913 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$92.8K
$81.2K – $108.2K
NOI $6,493 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$80.4K
$70.3K – $93.8K
NOI $5,626 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$386.2K
$337.9K – $450.5K
NOI $27,031 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Vacant duplex with two separate units, each with private bedroom and bath counts, plus an attached two-car garage.
Where is this duplex located?
The property is located at 557 Summit Street Marion, OH.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Vacant duplex in Marion with two separate units totaling 1,913 SF, ready for leasing or owner‑occupancy; Downstairs unit: 2 bedrooms and 1.5 baths; upstairs unit: 1 bedroom and 1 bath; Both units are fully vacant, offering a clean slate for new tenants and rent‑setting
