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    Ranch Duplex with Finished Basements Title is generated by Realmo AI

    659-661 South Champion Avenue, Columbus, OH 43205

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    For Sale
    $450,000

    Two separate 2-bedroom units with finished basements and a 3-car garage, suited to flexible owner-occupant or investor strategies.

    Type:Multi-Family / Duplex
    Property size:
    2,764 SF
    Price / SF:
    $162/SF
    Added:
    May 28, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 3:30 am

    Property Features for 659-661 South Champion Avenue

    General Information

    Standard status
    Active
    Size
    2,764 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    David E Tweet
    David E Tweet

    Listing agent David E Tweet License #2017000756

    Listing office MODERN OHIO REALTY

    Listing date May 28, 2026

    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 MODERN OHIO REALTY

    HighLights

    • Ranch double on separate parcels in the historic Old Oaks neighborhood, offering two 2‑bedroom units (659 and 661).
    • Each side has finished basements; 1350+ SF per side, with interior photos and floorplan provided for the 659 side.
    • 659 unit: 2 bedrooms and 1.5 bathrooms.
    • 661 unit: 2 bedrooms and 1 bathroom.
    • Cooling is central air and heating is forced air gas; year built is 1964.
    • 3‑car garage, covered back porch, and huge fenced yard.

    Overview

    This ranch double features two units, each with finished basements. Unit 659 includes 2 bedrooms and 1.5 bathrooms, while unit 661 includes 2 bedrooms and 1 bathroom. The property is presented as two separate sides for shows, and the interior photos and floorplan provided are for the 659 side. A 3-car garage and a covered back porch are part of the improvements, and there is a huge fenced yard.

    The property is located in the historic Old Oaks neighborhood of Columbus, Ohio, at 659–661 South Champion Avenue. The 659 side is available for showings per the remarks, with the 661 side noted as vacant for showings.

    The layout can fit different ownership approaches, including an owner occupant living in one unit while the other unit provides rental support, or a house-hacker scenario where buyers can have their own separate home on its own parcel. Investors may also consider the current gross rents figure cited in the remarks for 2025. With the flexible two-side configuration, the duplex is designed to support practical, income-oriented use or multi-home occupancy within one property.

    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 $36.2k $13.08
    − Vacancy −$2.5k −$0.92
    EGI $33.6k $12.16
    − OpEx −$10.1k −$3.65
    NOI $23.5k $8.52
    2,764 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $336.2K
    $294.2K – $392.3K (±1% cap)
    NOI $23,536 @ 7.0% cap · market cap 5.23%
    Second Best
    Apartment 5plus
    $270.5K
    $236.7K – $315.6K (±1% cap)
    NOI $18,933 @ 7.0% cap · market cap 4.21%
    Theoretical Best
    Office A
    $576.0K
    $504.0K – $672.0K (±1% cap)
    NOI $40,322 @ 7.0% cap · market cap 8.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.970135
    Latitude
    39.9519374

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    FAQs

    What type of property is this?
    Duplex - Two separate 2-bedroom units with finished basements and a 3-car garage, suited to flexible owner-occupant or investor strategies.
    Where is this duplex located?
    The property is located at 659-661 South Champion Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Ranch double on separate parcels in the historic Old Oaks neighborhood, offering two 2‑bedroom units (659 and 661).; Each side has finished basements; 1350+ SF per side, with interior photos and floorplan provided for the 659 side.; 659 unit: 2 bedrooms and 1.5 bathrooms.
    (614) 571-2314
    We can help!
    Listing Contact
    David E Tweet
    David E Tweet
    Real Estate License ID: 2017000756
    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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