Updated Duplex With Detached
For Sale
$165,500
5798 N Humphrey Road, Oak Harbor, OH 43449
MULTI_FAMILY - Other - Oak Harbor, OH
Property Size924 SF
Lot Size1.07 Acres
Price / SF$179.11
Days on Market14
Property Features for 5798 N Humphrey Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage - Detached
Elementary school district
Benton-Carroll
Middle school district
Benton-Carroll
High school district
Benton-Carroll
Subdivision
Carroll
Standard status
Active
APN
0080930212407001
Size
924 SF
Lot size
1.07 Acres
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Building materials
Aluminum
Architectural style
Other
Listing Agency:
Weichert, Realtors-Morgan Realty Group
(419) 732-0941
Listed By:
Shelly L Schultz
(419) 732-0941
Added: Jul 27
Last Checked: Aug 9 at 12:06PM
MLS# 20262899
Copyright © 2026 Firelands MLS. 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 duplex property includes two separate residences on a 1.07-acre parcel, with each home offering 2 bedrooms and 1 bathroom. The primary residence features an open layout, cathedral ceilings, fenced yard, front deck, and rear deck. Improvements include a 2018 roof, 2016 windows, 2018 furnace, and 2023 electrical panel. The second residence is furnished and has been operated as a vacation rental, with a 2023 roof, 2023 AC system, 2023 hot water tank, and 2023 electrical panel. The property size is 924 square feet, with aluminum construction and forced-air heating.
Both homes have individual septic systems and public water connections. Additional improvements include an 18x24 detached garage and two storage sheds. The property is located in Oak Harbor near the lake and marinas, with the address at 5798 N Humphrey Road, Oak Harbor, OH 43449.
Both homes have individual septic systems and public water connections. Additional improvements include an 18x24 detached garage and two storage sheds. The property is located in Oak Harbor near the lake and marinas, with the address at 5798 N Humphrey Road, Oak Harbor, OH 43449.
Key Highlights
- Two residences on a 1.07‑acre parcel, each with 2 bedrooms and 1 bathroom
- Separate septic systems and public water connections for both homes
- Primary residence updated with 2018 roof, 2016 windows, 2018 furnace, and 2023 electrical panel
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
$8,346
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
5.04%
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%
$166,920
$166.9K
Cap Rate 7%
$119,229
$119.2K
Cap Rate 9%
$92,733
$92.7K
Market Conditions
NOI Build-Up for 924 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
$12.8K $13.80/SF
− Vacancy
−$829 −$0.90/SF
EGI
$11.9K $12.90/SF
− OpEx
−$3.6K −$3.87/SF
NOI
$8.3K $9.03/SF
Area
Ottawa County, OH
Vacancy
6.50%
Lease Rate
$13.80 /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%
$166,920
Cap Rate 7%
$119,229
Cap Rate 9%
$92,733
Alternative Uses
Best Use
Multifamily LT 5
$119.2K
$104.3K – $139.1K
NOI $8,346 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$110.3K
$96.5K – $128.7K
NOI $7,722 @ 7.0% cap · market cap 4.67%
Theoretical Best
Retail
$329.3K
$288.1K – $384.2K
NOI $23,050 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 43449, OH
8,057
Population
4,311
Households
1.9
Avg Household Size
47
Median Age
23%
College-Educated
95%
High-School Grad
83.8 sq mi
ZIP Area
96
Density / Sq Mi
$71,496
Median Household Income
$38,333
Median Earnings
$821
Median Rent
$174,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide separate septic systems, public water connections, and flexible occupancy options.
Where is this duplex located?
The property is located at 5798 N Humphrey Road Oak Harbor, OH.
What is the asking price?
The asking price for this property is $165,500.
What are key features of this property?
This property features: Two residences on a 1.07‑acre parcel, each with 2 bedrooms and 1 bathroom; Separate septic systems and public water connections for both homes; Primary residence updated with 2018 roof, 2016 windows, 2018 furnace, and 2023 electrical panel
