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    Historical Hayesville Multifamily Investment Property Title is generated by Realmo AI

    7 E Main Street, Hayesville, OH 44838

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    New
    For Sale
    $399,000

    MULTI_FAMILY - Hayesville, OH

    Property size:
    2,880 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $138/SF
    Added:
    May 21, 2026
    Days on Market:
    1
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 7 E Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Laundry Room, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 3, Basement, Bathroom 2, Bathroom 4
    Parking features
    Carport
    Appliances
    BuiltInOven, Cooktop, Dishwasher, Disposal, Microwave, Refrigerator
    Standard status
    Active
    APN
    O42-011-0-0079-00
    Size
    2,880 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    7 E MAIN ST R=11 LOT 95 ABATEMENT 75% FOR 10 YEARS FOR 1/1/2019 - 12/31/2028
    Tax Annual Amount
    871

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1882
    Floors in Building
    2
    Building materials
    Brick, Glass, Concrete
    Roof type
    Flat

    We can help!

    Listing Contact
    Dante DiBenedetto

    Listing agent Dante DiBenedetto License #2026001332

    Listing office RE/MAX Real Estate Group 186 Lear Road, Suite A, Cleveland, OH

    Listing date May 21, 2026

    MLS# 5211654 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

    • Fully rented 3‑unit historical building offering immediate investment income
    • Located in the heart of Hayesville, adjacent to key landmarks and amenities
    • Designated on the National Register of Historic Places, potentially offering preservation benefits and prestige
    • Each unit features modern kitchens with custom cabinets, granite countertops, and stainless steel appliances
    • Includes a 3‑car carport and deep drive on a 120‑foot property
    • Tax abatement included with the investment

    Overview

    This fully rented, all-brick historical building features three suites and presents a strong investment opportunity. Known as the Kelley Hardware/Odd Fellows Hall, the 2-story Italianate-style building, constructed in 1882, is situated in the center of Hayesville, adjacent to the restored Village Hall and Opera House. Nearby are a pizza parlor, restaurant, Village Point Market, and coffee shop. The building is listed on the National Register of Historic Places. Measuring 27x60 feet, it features brick bearing wall construction and heavy timber floors. Both floors have 14-foot ceilings. The property is divided into three apartments. The first floor contains front and back units that share the original hardware store shelves. Each of these units has one bedroom, one bath, and a mezzanine level, and they share a partially finished basement with a common hall and laundry. Each unit has its own central HVAC and electric. The second floor is a single large apartment, accessed by a grand stairway, featuring 2 bedrooms and 2 baths and a large south-facing balcony. This unit includes narrow 10-ft tall windows with restored interior shutters. Each unit has a modern kitchen with custom cabinets, granite countertops, and stainless steel appliances, including refrigerators, ranges, microwaves, and dishwashers. The 120-foot property includes a deep drive and a 3-car carport. The property has city water/sewer and cable. The property is less than 10 minutes from shopping, restaurants and freeway and close to Mohican State Park. The property also has a tax abatement.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $270.9K
    NOI $24,378 @ 9.00% cap · cautious / downside scenario
    Moderate
    $348.3K
    NOI $24,378 @ 7.00% cap · market / base-case scenario
    Aggressive
    $487.6K
    NOI $24,378 @ 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 Apartment 5plus

    Component $ $/SF
    Gross rent $46.7k $16.20
    − Vacancy −$2.3k −$0.81
    EGI $44.3k $15.39
    − OpEx −$19.9k −$6.93
    NOI $24.4k $8.46
    2,880 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $348.3K
    $304.7K – $406.3K (±1% cap)
    NOI $24,378 @ 7.0% cap · market cap 6.11%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $543.5K
    $475.6K – $634.1K (±1% cap)
    NOI $38,044 @ 7.0% cap · market cap 9.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    BREW'D Coffee & Donuts Cafe & Coffee Shop William Kelley Hardware ... Tour Operator

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hayesville
    County
    Ashland
    State
    Ohio
    Longitude
    -82.2618031
    Latitude
    40.7730155

    FAQs

    What type of property is this?
    Apartment building - Three-unit, fully rented, historical building in Hayesville, Ohio.
    Where is this apartment building located?
    The property is located at 7 E Main Street Hayesville, OH.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Fully rented 3‑unit historical building offering immediate investment income; Located in the heart of Hayesville, adjacent to key landmarks and amenities; Designated on the National Register of Historic Places, potentially offering preservation benefits and prestige
    (440) 822-0918
    We can help!
    Listing Contact
    Dante DiBenedetto
    Real Estate License ID: 2026001332
    Learn More
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    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
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