Four-Unit Multifamily
For Sale
$275,000
100 Second Street, Shelby, OH 44875
A duplex and two manufactured homes provide four separate rental units on one parcel.
Property Size1,328 SF
Price / SF$207.08
Days on Market10
Property Features for 100 Second Street
General Information
Standard status
Active
Size
1,328 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,030
Listing Agency:
Howard Hanna Real Estate Services Ashland Downtown
Listed By:
Hartley Team
(419) 903-0333
Source:
Exprealty
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 15 at 4:49AM
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
Investment Insights
Based on property information with market context.
The property combines a duplex with two manufactured homes, totaling four rental units on one parcel in Shelby. The duplex has two one-bedroom apartments; one includes a basement bathroom and laundry, while the upper apartment has an additional room used as a second bedroom. The manufactured homes offer two and three bedrooms, respectively, with laundry areas. One home also has a newer furnace.
Garage space includes a detached one-car garage at the duplex and a two-car garage at one manufactured home. Three separate electric meters serve the property. The owner currently pays for water, septic, and electricity.
Garage space includes a detached one-car garage at the duplex and a two-car garage at one manufactured home. Three separate electric meters serve the property. The owner currently pays for water, septic, and electricity.
Key Highlights
- Four rental units across a duplex and two manufactured homes
- Duplex includes two one‑bedroom apartments; upper unit has an additional room used as a second bedroom
- Manufactured homes have two and three bedrooms, respectively
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,035
Cap Rate
4.01%
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 4.01%
Second Best
Apartment 5plus
$141.1K
$123.5K – $164.6K
NOI $9,876 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$267.2K
$233.8K – $311.7K
NOI $18,702 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 44875, OH
13,900
Population
6,211
Households
2.2
Avg Household Size
42
Median Age
15%
College-Educated
93%
High-School Grad
81.5 sq mi
ZIP Area
171
Density / Sq Mi
$60,669
Median Household Income
$35,774
Median Earnings
$727
Median Rent
$146,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - A duplex and two manufactured homes provide four separate rental units on one parcel.
Where is this multifamily property located?
The property is located at 100 Second Street Shelby, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Four rental units across a duplex and two manufactured homes; Duplex includes two one‑bedroom apartments; upper unit has an additional room used as a second bedroom; Manufactured homes have two and three bedrooms, respectively
