This big duplex in the desirable Olde Towne East neighbor-hood of Columbus is listed for $9,900. Just a block away from Franklin Park, this REO is in a location that makes it a great place for an investor or owner-occupant. The last owner paid $84,000 for it several years ago (5/22/2002), and Zillow.com estimates this duplex to be worth $160,000 currently (yes, its current listing price is about 6% of its Zestimate).This duplex will require some thorough renovation work, likely costing $30,000 to $40,000. Even with this expense, this place could prove to be a great long-term investment. The Olde Towne East neighborhood is one of the most up-and-coming neighborhoods in Columbus, and Columbus has a strong economy despite the fact that it’s in a state with a particularly troubled economy. Each unit of this duplex could be rented for $550 to $700 per month after renovation, delivering fantastic cash flow potential. A property like this is perfect for a beginning investor --- after paying cash for a property like this, a new investor can work on the property at his or her own pace, one unit at a time until both units are fully renovated and rented. This one is a hot buy and is worth a look for anyone in this region.
The basics...
Address: 1527/1529 Oak Street, Columbus, OH 43205
Current Listing Price: $9,900
PREVIOUS Sale Price: $84,000 (5/22/2002)
Size: 4 Bedrooms, 2 Bathrooms; 2,254 square feet (total for 2 units)
Lot: .13 acres
http://www.realtor.com/realestate/columbus-oh-43205-1094641723/
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