Updated Duplex with Attached
New
For Sale
$315,000
825 Comanche Lane, Tipp City, OH 45371
Multi-Family, Tipp City, OH
Property Size2,190 SF
Lot Size0.23 Acres
Price / SF$143.84
Days on Market3
Property Features for 825 Comanche Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 1
Patio and Porch features
Patio, Porch
Interior features
Walk-In Closet(s)
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Tippecanoe Village Sec 3
Lot features
Residential Lot
Elementary school district
5508 Tipp City EVSD
Middle school district
5508 Tipp City EVSD
High school district
5508 Tipp City EVSD
Directions
From the N Hyatt St and W Main St/571 Intersection, head North on N Hyatt St Toward W Walnut St, Turn left unto Comanche Lane and the property is on your right
Standard status
Active
APN
G15019520
Size
2,190 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1977
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Brick, Vinyl Siding
Listing Agency:
Howard Hanna Real Estate Services
(937) 435-1177
Listed By:
Jonathan Murray
(937) 654-7355
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 16 at 3:06AM
MLS# 1048446
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 2,190-square-foot duplex on a 0.23-acre lot includes two distinct living spaces. The primary residence offers 3 bedrooms, 2.5 baths, an attached 2-car garage, a renovated kitchen with new cabinetry and granite countertops, updated baths, and new luxury vinyl flooring. A walk-in closet, central air, forced-air and heat-pump heating, patio, and porch add to the property’s physical features.
The second residence is a 1-bedroom, 1-bath shotgun-style apartment with its own entrance and driveway. The property also includes a dishwasher, microwave, range, and refrigerator, along with public sewer service. Built in 1977, the duplex is located at 825 Comanche Lane in Tipp City, near downtown, I-75, and local schools.
The second residence is a 1-bedroom, 1-bath shotgun-style apartment with its own entrance and driveway. The property also includes a dishwasher, microwave, range, and refrigerator, along with public sewer service. Built in 1977, the duplex is located at 825 Comanche Lane in Tipp City, near downtown, I-75, and local schools.
Key Highlights
- 2,190‑square‑foot duplex on a 0.23‑acre lot
- Primary residence includes 3 bedrooms, 2.5 baths, and an attached 2‑car garage
- Second unit offers 1 bedroom, 1 bath, a private entrance, and its own driveway
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
$19,850
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
6.30%
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%
$397,000
$397.0K
Cap Rate 7%
$283,571
$283.6K
Cap Rate 9%
$220,556
$220.6K
Market Conditions
NOI Build-Up for 2,190 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
$30.2K $13.80/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$28.4K $12.95/SF
− OpEx
−$8.5K −$3.88/SF
NOI
$19.9K $9.06/SF
Area
Miami County, OH
Vacancy
6.17%
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%
$397,000
Cap Rate 7%
$283,571
Cap Rate 9%
$220,556
Alternative Uses
Best Use
Multifamily LT 5
$283.6K
$248.1K – $330.8K
NOI $19,850 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$247.1K
$216.2K – $288.3K
NOI $17,299 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$446.3K
$390.6K – $520.7K
NOI $31,244 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 45371, OH
23,205
Population
9,301
Households
2.5
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
51.2 sq mi
ZIP Area
453
Density / Sq Mi
$89,425
Median Household Income
$53,051
Median Earnings
$1,154
Median Rent
$272,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate units provide private entrances and driveways, with refreshed finishes in the primary residence.
Where is this duplex located?
The property is located at 825 Comanche Lane Tipp City, OH.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,190‑square‑foot duplex on a 0.23‑acre lot; Primary residence includes 3 bedrooms, 2.5 baths, and an attached 2‑car garage; Second unit offers 1 bedroom, 1 bath, a private entrance, and its own driveway
