Two-Unit
For Sale
$299,000
10 N Lancaster St, Athens, OH 45701
A rental permit allows six occupants across the upper and main-level apartments.
Property Size2,988 SF
Price / SF$100.07
Days on Market15
Property Features for 10 N Lancaster St
General Information
Standard status
Active
Size
2,988 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,698
Listing Agency:
Ohio Realty
Listed By:
John Wharton
(740) 594-6637
Source:
Exprealty
Added: Sep 22
Changed: Oct 4
Last Checked: Oct 6 at 12:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ohio Realty
Investment Insights
Based on property information with market context.
The duplex contains an upper-level apartment and a separate apartment on the main level. Its rental permit allows six occupants: four in the upper unit and two in the main-level unit.
The property is in an area described as serving people who attend or work at Ohio University.
The property is in an area described as serving people who attend or work at Ohio University.
Key Highlights
- Rental permit allows 6 occupants
- Upper apartment is permitted for 4 people
- Main‑level apartment is permitted for 2 people
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,275
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,500
$525.5K
Cap Rate 7%
$375,357
$375.4K
Cap Rate 9%
$291,944
$291.9K
Market Conditions
NOI Build-Up for 2,988 SF
Gross rent
$44.1K $14.76/SF
− Vacancy
−$6.6K −$2.20/SF
EGI
$37.5K $12.56/SF
− OpEx
−$11.3K −$3.77/SF
NOI
$26.3K $8.79/SF
Area
Athens County, OH
Vacancy
14.89%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,500
Cap Rate 7%
$375,357
Cap Rate 9%
$291,944
Alternative Uses
Best Use
Multifamily LT 5
$375.4K
$328.4K – $437.9K
NOI $26,275 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$344.5K
$301.4K – $401.9K
NOI $24,114 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$682.4K
$597.1K – $796.2K
NOI $47,769 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 45701, OH
33,705
Population
13,230
Households
2.5
Avg Household Size
27
Median Age
57%
College-Educated
95%
High-School Grad
148.6 sq mi
ZIP Area
227
Density / Sq Mi
$49,604
Median Household Income
$13,495
Median Earnings
$1,018
Median Rent
$217,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - A rental permit allows six occupants across the upper and main-level apartments.
Where is this duplex located?
The property is located at 10 N Lancaster St Athens, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Rental permit allows 6 occupants; Upper apartment is permitted for 4 people; Main‑level apartment is permitted for 2 people
