255 S State St Marion, OH 43302
Marion AreaEstimated payment $2,399/month
About This Home
Excellent investment opportunity featuring six apartment units across two buildings. The main building offers four 2-bedroom units, while the separate building includes two 1-bedroom units, providing a desirable unit mix for a variety of tenants. The property has seen numerous updates in recent years, including a new roof and renovations throughout the majority of the units. Currently, 4 of the 6 units are occupied, providing immediate rental income, while 2 vacant units offer convenient access for showings and the opportunity for a new owner to lease at current market rates. One vacant unit is move-in ready, while the other presents a value-add opportunity with cosmetic improvements. Whether you're looking to expand your portfolio or purchase your first multifamily investment, this property offers an excellent combination of current cash flow, recent improvements, and upside potential. Schedule your showing today and explore the possibilities this versatile income-producing property has to offer.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,872
Year Built
- Built in 1900
Parking
- Detached Garage
Home Design
- 5,312 Sq Ft Home
- Mixed Use
- Frame Construction
Additional Features
- Washer and Dryer Hookup
- 6,970 Sq Ft Lot
- Heating System Uses Gas
- Basement
Listing and Financial Details
- The owner pays for sewer
- Assessor Parcel Number 12-4020002.900
Community Details
Overview
- 2 Buildings
- 6 Units
Building Details
- Operating Expense $16,750
- Gross Income $31,683
- Net Operating Income $14,933
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,872 | $52,860 | $5,210 | $47,650 |
| 2024 | $2,872 | $42,590 | $4,690 | $37,900 |
| 2023 | $2,872 | $42,590 | $4,690 | $37,900 |
| 2022 | $2,317 | $42,590 | $4,690 | $37,900 |
| 2021 | $2,838 | $38,230 | $4,690 | $33,540 |
| 2020 | $2,263 | $38,230 | $4,690 | $33,540 |
| 2019 | $1,890 | $38,230 | $4,690 | $33,540 |
| 2018 | $2,051 | $41,840 | $4,690 | $37,150 |
| 2017 | $2,229 | $41,840 | $4,690 | $37,150 |
| 2016 | $1,987 | $41,840 | $4,690 | $37,150 |
| 2015 | $1,973 | $41,110 | $4,690 | $36,420 |
| 2014 | $2,411 | $41,110 | $4,690 | $36,420 |
| 2012 | $1,776 | $36,520 | $6,080 | $30,440 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/16/2026 07/16/26 | For Sale | $399,900 | +128.5% | $75 / Sq Ft | |
| 09/28/2023 09/28/23 | Sold | $175,000 | -22.2% | $33 / Sq Ft | View Prior Sale |
| 08/23/2023 08/23/23 | For Sale | $225,000 | +28.6% | $42 / Sq Ft | |
| 08/20/2023 08/20/23 | Off Market | $175,000 | -- | -- | |
| 08/08/2023 08/08/23 | For Sale | $225,000 | -- | $42 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Fiduciary Deed | $175,000 | None Listed On Document |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $245,500 | Construction |
Source: Columbus and Central Ohio Regional MLS
MLS Number: 226026615
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Information is deemed reliable but not guaranteed.
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