Four-Unit Multifamily
For Sale
$249,900
100 2nd St, Shelby, OH
A duplex and two manufactured homes provide four rental units on a single parcel.
Property Size1,328 SF
Price / SF$188.18
Days on Market19
Property Features for 100 2nd St
General Information
Standard status
Active
Size
1,328 SF
Property subtype
Residential Income
Financials
Gross Income
$39,600
Average Monthly Rent
$825
Units
Unit Mix
1BR/1BA, 1BR+additional room/1BA, 2BR/1BA, 3BR/1BA
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,030
Building Details
Buildings
3
Listing Agency:
Howard Hanna Real Estate Services Ashland Downtown
Listed By:
Hartley Team
(419) 903-0333
Source:
Exprealty
Added: Oct 6
Changed: Oct 23
Last Checked: Oct 23 at 4:32PM
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 Howard Hanna Real Estate Services Ashland Downtown
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Investment Insights
Based on property information with market context.
The property comprises four rental units on one parcel: a duplex and two manufactured homes. The duplex has two one-bedroom units. The lower unit includes a basement bathroom, laundry, and a detached one-car garage; the upper unit has one bedroom plus a separate room used as a second bedroom. One manufactured home offers two bedrooms, one bathroom, laundry, and a two-car garage. The other has three bedrooms, one bathroom, a dedicated laundry and mudroom, and a newer furnace.
Three separate electric meters serve the property. The current owner pays for water, septic, and electricity.
Three separate electric meters serve the property. The current owner pays for water, septic, and electricity.
Key Highlights
- Four rental units across a duplex and two manufactured homes on one parcel
- Duplex includes two one‑bedroom units; the upper unit has an additional room used as a second bedroom
- Lower duplex unit has a basement bathroom, laundry, and detached one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,035
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,700
$220.7K
Cap Rate 7%
$157,643
$157.6K
Cap Rate 9%
$122,611
$122.6K
Market Conditions
NOI Build-Up for 1,328 SF
Gross rent
$16.7K $12.60/SF
− Vacancy
−$969 −$0.73/SF
EGI
$15.8K $11.87/SF
− OpEx
−$4.7K −$3.56/SF
NOI
$11.0K $8.31/SF
Area
Richland County, OH
Vacancy
5.79%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,700
Cap Rate 7%
$157,643
Cap Rate 9%
$122,611
Alternative Uses
Best Use
Multifamily LT 5
$157.6K
$137.9K – $183.9K
NOI $11,035 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$141.1K
$123.5K – $164.6K
NOI $9,876 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$267.2K
$233.8K – $311.7K
NOI $18,702 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - A duplex and two manufactured homes provide four rental units on a single parcel.
Where is this multifamily property located?
The property is located at 100 2nd St Shelby, OH.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Four rental units across a duplex and two manufactured homes on one parcel; Duplex includes two one‑bedroom units; the upper unit has an additional room used as a second bedroom; Lower duplex unit has a basement bathroom, laundry, and detached one‑car garage
