Updated Two-Unit
For Sale
$147,900
Pending
538 Shoop Avenue, Dayton, OH 45402
ResidentialIncome, Dayton, OH
Property Size1,232 SF
Lot Size0.12 Acres
Days on Market53
Property Features for 538 Shoop Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Zoning description
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Basement
Parking features
Garage, On Street
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
City/Dayton Rev
Elementary school district
Dayton
Middle school district
Dayton
High school district
Dayton
Standard status
Pending
APN
R72-12209-0020
Size
1,232 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
50268
Legal Description
50268
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1926
Floors in Building
1
Building materials
Frame, VinylSiding
Listing Agency:
eXp Realty
(866) 212-4991
Listed By:
John Clark
(937) 369-7876
Added: Jul 11
Changed: Aug 31
Last Checked: Sep 1 at 4:06PM
MLS# 963925
Copyright © 2026 Dayton 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 Dayton duplex contains two separate units, each arranged with one bedroom and one full bathroom. The 1,232-square-foot property was built in 1926 and includes a basement, porch, frame construction, and vinyl siding. Major systems have been updated with a newer roof, plumbing, electrical service, and HVAC equipment. Heating is provided by natural gas and forced air, while central air serves the building.
Located at 538 Shoop Avenue in Dayton, the property uses public water and includes garage and on-street parking. Its Residential zoning and two-unit configuration provide a straightforward residential income property format, with separate living spaces within one building.
Located at 538 Shoop Avenue in Dayton, the property uses public water and includes garage and on-street parking. Its Residential zoning and two-unit configuration provide a straightforward residential income property format, with separate living spaces within one building.
Key Highlights
- Two‑unit duplex with 1,232 square feet
- Each unit includes 1 bedroom and 1 full bathroom
- Major updates include roof, plumbing, electrical, and HVAC systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,201
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,020
$264.0K
Cap Rate 7%
$188,586
$188.6K
Cap Rate 9%
$146,678
$146.7K
Market Conditions
NOI Build-Up for 1,232 SF
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.
Gross rent
$20.0K $16.20/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$18.9K $15.31/SF
− OpEx
−$5.7K −$4.59/SF
NOI
$13.2K $10.72/SF
Area
Dayton, OH
Vacancy
5.51%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,020
Cap Rate 7%
$188,586
Cap Rate 9%
$146,678
Alternative Uses
Best Use
Multifamily LT 5
$188.6K
$165.0K – $220.0K
NOI $13,201 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$172.9K
$151.3K – $201.7K
NOI $12,102 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$262.6K
$229.7K – $306.3K
NOI $18,379 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 45402, OH
10,735
Population
6,484
Households
1.7
Avg Household Size
37
Median Age
30%
College-Educated
88%
High-School Grad
4.4 sq mi
ZIP Area
2,440
Density / Sq Mi
$45,386
Median Household Income
$40,396
Median Earnings
$921
Median Rent
$105,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes one bedroom and one full bathroom, with central air and forced-air heating.
Where is this duplex located?
The property is located at 538 Shoop Avenue Dayton, OH.
What is the asking price?
The asking price for this property is $147,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,232 square feet; Each unit includes 1 bedroom and 1 full bathroom; Major updates include roof, plumbing, electrical, and HVAC systems
