Six-Unit Brick Apartment
For Sale
$565,000
Pending
105 N Maple Avenue, Fairborn, OH 45324
Residential Income, Fairborn, OH
Property Size4,914 SF
Lot Size0.21 Acres
Days on Market94
Property Features for 105 N Maple Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Patio and Porch features
Patio
Exterior features
Patio, Balcony
High school district
Fairborn City SD
Directions
I-675 to W on SR-235, 105 is on NW corner of Maple and 235
Subdivision
Greene-E31
Standard status
Pending
APN
A02-0001-0009-0-0171-00
Size
4,914 SF
Lot size
0.21 Acres
Utilities
Heating system
Forced Air, Natural Gas
Amenities
central air
washer and dryer hookups
private outdoor space
off-street parking
Building Details
Year built
1970
Number of units
6
Building materials
Brick
Roof type
Shingle
Listing Agency:
eXp Realty
(866) 212-4991
Listed By:
Andrew Gaydosh · License #2001008598
(937) 305-9570
Added: Jun 9
Changed: Sep 6
Last Checked: Sep 10 at 12:06PM
MLS# 1882171
Copyright © 2026 MLS of Greater Cincinnati, 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 4,914-square-foot apartment building contains six 2-bedroom, 1-bath units, including three upper apartments and three lower apartments. Built in 1970, the property has a brick exterior, shingle roof, forced-air natural gas heating, central air, and washer and dryer hookups within each unit. Private outdoor space is provided through balconies or patios, with driveway parking available for residents.
The property is located at 105 N Maple Avenue in Fairborn, near downtown Fairborn, Wright-Patterson Air Force Base, Wright State University, and SR 675. The 0.21-acre site provides a residential setting with established access to nearby employment, education, and community destinations.
The building is fully leased. Residents pay their own gas and electric, while ownership covers water, sewer, and trash.
The property is located at 105 N Maple Avenue in Fairborn, near downtown Fairborn, Wright-Patterson Air Force Base, Wright State University, and SR 675. The 0.21-acre site provides a residential setting with established access to nearby employment, education, and community destinations.
The building is fully leased. Residents pay their own gas and electric, while ownership covers water, sewer, and trash.
Key Highlights
- Six 2‑bedroom, 1‑bath units with three upper and three lower apartments
- 4,914 square feet on a 0.21‑acre site
- Brick apartment building built in 1970 with a shingle roof
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
$41,857
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
7.41%
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%
$837,140
$837.1K
Cap Rate 7%
$597,957
$598.0K
Cap Rate 9%
$465,078
$465.1K
Market Conditions
NOI Build-Up for 4,914 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
$79.6K $16.20/SF
− Vacancy
−$3.5K −$0.71/SF
EGI
$76.1K $15.49/SF
− OpEx
−$34.2K −$6.97/SF
NOI
$41.9K $8.52/SF
Area
Greene County, OH
Vacancy
4.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$837,140
Cap Rate 7%
$597,957
Cap Rate 9%
$465,078
Alternative Uses
Best Use
Apartment 5plus
$598.0K
$523.2K – $697.6K
NOI $41,857 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$924.0K
$808.5K – $1.08M
NOI $64,677 @ 7.0% cap · market cap 11.45%
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
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Explore this area
Business Placement
Demographics for 45324, OH
40,449
Population
19,729
Households
2.1
Avg Household Size
34
Median Age
30%
College-Educated
92%
High-School Grad
33.1 sq mi
ZIP Area
1,222
Density / Sq Mi
$59,861
Median Household Income
$37,348
Median Earnings
$989
Median Rent
$177,700
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with private outdoor areas, in-unit laundry hookups, central air, and off-street parking.
Where is this apartment building located?
The property is located at 105 N Maple Avenue Fairborn, OH.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Six 2‑bedroom, 1‑bath units with three upper and three lower apartments; 4,914 square feet on a 0.21‑acre site; Brick apartment building built in 1970 with a shingle roof
