Six-Unit Brick Apartment
For Sale
$565,000
Pending
105 North Maple Avenue, Fairborn, OH 45324
Leased residential property with central air, in-unit laundry hookups, and private balconies or patios.
Property Size4,914 SF
Days on Market83
Property Features for 105 North Maple Avenue
General Information
Standard status
Pending
Size
4,914 SF
Property subtype
Residential Income / Multi Family
Zoning
Residential
Occupancy
100%
Net Operating Income
$42,401
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Amenities
central air
washer and dryer hookups
private outdoor space
off-street parking
Ceiling Fan(s), Central Air
Forced Air, Natural Gas
Crawl Space
Dishwasher, Disposal, Microwave, Range, Refrigerator, Electric Water Heater
Yes
6
12
Double Hung
Ceiling Fan(s), Laminate Counters
Balcony
Patio
Building Details
Year Built
1970
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
eXp Realty
(937) 305-9570
Listed By:
Andrew Gaydosh · License #2001008598
(937) 305-9570
Source:
Compass
Added: Jun 9
Changed: Aug 30
Last Checked: Aug 30 at 11:07AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 4,914-square-foot apartment property contains six two-bedroom, one-bath units arranged as three upper apartments and three lower apartments. Built in 1970, the building has a brick exterior, central air, forced-air natural gas heating, and private outdoor space for each unit through a balcony or patio. Washer and dryer hookups are located within the apartments, which also include kitchens equipped with dishwashers, disposals, microwaves, ranges, refrigerators, and electric water heaters.
The property is at 105 North Maple Avenue in Fairborn, Ohio, near downtown Fairborn, Wright-Patterson Air Force Base, Wright State University, and SR 675. Off-street parking serves residents. Tenants pay their own gas and electric expenses, while ownership pays for water, sewer, and trash. The building is fully leased and zoned Residential.
The property is at 105 North Maple Avenue in Fairborn, Ohio, near downtown Fairborn, Wright-Patterson Air Force Base, Wright State University, and SR 675. Off-street parking serves residents. Tenants pay their own gas and electric expenses, while ownership pays for water, sewer, and trash. The building is fully leased and zoned Residential.
Key Highlights
- Six 2‑bedroom, 1‑bath apartments with three upper and three lower units
- 4,914 SF brick apartment building built in 1970
- Fully leased six‑unit property
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
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Leased residential property with central air, in-unit laundry hookups, and private balconies or patios.
Where is this apartment building located?
The property is located at 105 North 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 apartments with three upper and three lower units; 4,914 SF brick apartment building built in 1970; Fully leased six‑unit property
