Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Philadelphia Duplex Investment Opportunity Title is generated by Realmo AI

    623 11th Drive NW, New Philadelphia, OH 44663

    View on Map
    Claim this Listing
    Picture of Duplexes at 623 11th Drive NW, New Philadelphia, OH
    For Sale
    $589,900

    MULTI_FAMILY - New Philadelphia, OH

    Property size:
    3,840 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $153/SF
    Added:
    Apr 8, 2026
    Days on Market:
    48
    Last Refresh:
    May 25 at 11:06 am

    Property Features for 623 11th Drive NW

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bedroom 8, Basement, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Laundry Room, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 4
    Parking features
    Garage, Open, Parking Lot
    Interior features
    OpenFloorplan
    Appliances
    Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    4304857002
    Size
    3,840 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    W PR 1248 SE PR 1249 .175A (TRACT 3)
    Tax Annual Amount
    5957

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2018
    Floors in Building
    1
    Building materials
    VinylSiding
    Roof type
    Fiberglass, Asphalt

    We can help!

    Listing Contact
    Vera (Jane) Sulzener

    Listing agent Vera (Jane) Sulzener License #374743

    Listing office RE/MAX Crossroads Properties 313 Canal Avenue SE Unit C, Strongsville, OH

    Listing date Apr 8, 2026

    MLS# 5200029 Listing URL

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Built in 2018: Modern construction.
    • Four Units (Two Duplexes): Ideal investment with multiple income streams.
    • Separate Utilities & No Shared Walls: Increased privacy and ease of tenant management.
    • Each Unit: 2 Bedrooms, First Floor Laundry, Attached 1 Car Garage: Desirable features.
    • Open Floor Plan: Modern and appealing living space.
    • Full Unfinished Basements: Potential for additional living space or storage.

    Overview

    This property features two duplexes, comprising a total of four units, constructed in 2018. Each unit is designed with separate utilities and without shared walls. The single-story, open-concept layout includes two bedrooms, first-floor laundry facilities, and an attached one-car garage. Full, unfinished basements are included. The property is situated on a 0.34-acre lot. The total property size is 3840 square feet. The location is in New Philadelphia, Ohio. The property may be a suitable investment.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $352.9K
    NOI $31,757 @ 9.00% cap · cautious / downside scenario
    Moderate
    $453.7K
    NOI $31,757 @ 7.00% cap · market / base-case scenario
    Aggressive
    $635.1K
    NOI $31,757 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $48.8k $12.72
    − Vacancy −$3.5k −$0.91
    EGI $45.4k $11.81
    − OpEx −$13.6k −$3.54
    NOI $31.8k $8.27
    3,840 SF · lease $12.72/SF/yr · vacancy 7.12% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $453.7K
    $397.0K – $529.3K (±1% cap)
    NOI $31,757 @ 7.0% cap · market cap 5.38%
    Second Best
    Apartment 5plus
    $401.9K
    $351.7K – $468.9K (±1% cap)
    NOI $28,132 @ 7.0% cap · market cap 4.77%
    Theoretical Best
    Office A
    $715.6K
    $626.1K – $834.9K (±1% cap)
    NOI $50,091 @ 7.0% cap · market cap 8.49%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile 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 Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    New Philadelphia
    County
    Tuscarawas
    State
    Ohio
    Longitude
    -81.467012
    Latitude
    40.499014

    Nearby Similar for Sale

    • $899,900
      2,835 SF

      Profitable Restaurant in New Philadelphia

      Turn-key restaurant with D-1 liquor license in high-traffic location.
      110 S Broadway Street, New Philadelphia, OH 44663
      View Details
    • $1,500,000
      14,947 SF

      Thriving Restaurant and Bar Opportunity

      Well-maintained restaurant and bar with expansion potential in New Philadelphia.
      127 S Broadway Street, New Philadelphia, OH 44663
      View Details
    • $4,150,000
      112,586 SF

      Mixed-Use Investment Opportunity

      Retail, office, and warehouse spaces available for lease or sale.
      1109-1139 Bowers NW, New Philadelphia, OH
      View Details
    • $2,400,000

      COMMERCIAL - New Philadelphia, OH

      341 Graff Road SE, New Philadelphia, OH 44663
      View Details
    • $1,700,000
      45,000 SF

      Versatile Industrial Buildings on Acreage

      Five industrial buildings totaling 45,000+ SF on 21.8 acres.
      1490 Truss SW Road, New Philadelphia, OH 44663
      View Details
    • $1,500,000
      14,947 SF

      Thriving Broadway Brewhouse Landmark

      Well-maintained bar and restaurant with expansion potential.
      127 S Broadway St, New Philadelphia, OH 44663
      View Details
    • Contact for pricing
      1,656 SF

      Tillable Land in New Philadelphia, OH

      4.6 acre parcel of tillable land near New Philadelphia.
      3967 Crooked Run Road NW, New Philadelphia, OH 44663
      View Details
    • $899,900
      10,334 SF

      Profitable Restaurant in High-Traffic Location

      Well-established restaurant with loyal customer base and D-1 liquor license.
      110 S Broadway St, New Philadelphia, OH 44663
      View Details
    • $359,000

      Turnkey Triplex Investment Property

      Fully occupied triplex in New Philadelphia, offering immediate rental income.
      837 2nd Street SE, New Philadelphia, OH 44663
      View Details
    • $700,000
      10,500 SF

      Multi-Tenant Warehouse in New Philadelphia

      Multi-tenant warehouse with I-77 and Route 250 access.
      1127 Front St SW, New Philadelphia, OH 44663
      View Details
    • $200,000
      4,250 SF

      Turnkey Bar and Grill Opportunity

      Fully furnished bar and grill with D5 liquor license for sale.
      2959 Brightwood Rd Se, New Philadelphia, OH, 44663-7728
      View Details
    • $1,700,000

      Industrial Buildings on 21+ Acres

      Five industrial buildings totaling 45,000+ sqft on 21.8 acres.
      1490 Truss Road SW, New Philadelphia, OH 44663
      View Details

    FAQs

    What type of property is this?
    Duplex - Two duplexes, four units, built in 2018, separate utilities.
    Where is this duplex located?
    The property is located at 623 11th Drive NW New Philadelphia, OH.
    What is the asking price?
    The asking price for this property is $589,900.
    What are key features of this property?
    This property features: Built in 2018: Modern construction.; Four Units (Two Duplexes): Ideal investment with multiple income streams.; Separate Utilities & No Shared Walls: Increased privacy and ease of tenant management.
    (330) 260-8855
    We can help!
    Listing Contact
    Vera (Jane) Sulzener
    Real Estate License ID: 374743
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    623 11th Drive NW, New Philadelphia, OH 44663
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!