2-Unit Duplex with Attached
For Sale
$269,000
Pending
1025/1029 Broad St, Ashland, OH 44805
Each residence has separate utilities, gas heating, and central air conditioning.
Property Size2,136 SF
Days on Market8
Property Features for 1025/1029 Broad St
General Information
Standard status
Pending
Size
2,136 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,358
Amenities
central air conditioning
fireplace
concrete patios
washer/dryer hookups
Building Details
Buildings
1
Construction
brick/vinyl sided
Listing Agency:
Coldwell Banker Ward Real Estate
(419) 281-2000
Listed By:
Rob Ward
(419) 651-9701
Source:
Exprealty
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 2:53PM
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 Coldwell Banker Ward Real Estate
Investment Insights
Based on property information with market context.
This 2,136-square-foot duplex contains two residences, each with an attached one-car garage. The 1025 unit has two bedrooms, a full bath, an eat-in kitchen, and a basement with storage and washer and dryer hookups. The 1029 unit offers two to three bedrooms, two full baths, an eat-in kitchen, pantry, and a finished basement with a family room, possible third bedroom, fireplace, and laundry hookups. Both units have separate utilities, gas furnaces and hot water heaters, and central air conditioning. The exterior combines brick and vinyl siding, with most windows updated.
The property is near Ashland University and within walking distance of restaurants and stores. A backyard with concrete patios serves both units.
The property is near Ashland University and within walking distance of restaurants and stores. A backyard with concrete patios serves both units.
Key Highlights
- Two‑unit duplex totaling 2,136 square feet
- Each unit has an attached one‑car garage and separate utilities
- 1025: two bedrooms, full bath, eat‑in kitchen, and basement storage
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
$19,499
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
7.25%
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%
$389,980
$390.0K
Cap Rate 7%
$278,557
$278.6K
Cap Rate 9%
$216,656
$216.7K
Market Conditions
NOI Build-Up for 2,136 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
$29.5K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$27.9K $13.04/SF
− OpEx
−$8.4K −$3.91/SF
NOI
$19.5K $9.13/SF
Area
Ashland County, OH
Vacancy
5.50%
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%
$389,980
Cap Rate 7%
$278,557
Cap Rate 9%
$216,656
Alternative Uses
Best Use
Multifamily LT 5
$278.6K
$243.7K – $325.0K
NOI $19,499 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$258.3K
$226.0K – $301.3K
NOI $18,080 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$403.1K
$352.7K – $470.3K
NOI $28,216 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 44805, OH
31,238
Population
13,248
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
92%
High-School Grad
151.1 sq mi
ZIP Area
207
Density / Sq Mi
$62,058
Median Household Income
$35,122
Median Earnings
$835
Median Rent
$165,000
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has separate utilities, gas heating, and central air conditioning.
Where is this duplex located?
The property is located at 1025/1029 Broad St Ashland, OH.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,136 square feet; Each unit has an attached one‑car garage and separate utilities; 1025: two bedrooms, full bath, eat‑in kitchen, and basement storage
