Four-Property Multifamily
For Sale
$130,000
Pending
114 George St, Findlay, OH 45840
College-oriented rentals are operated across multiple residential properties, with most homes leased by the bedroom.
Property Size995 SF
Days on Market62
Property Features for 114 George St
General Information
Standard status
Pending
Size
995 SF
Property subtype
Residential Income
Additional Details
Asking Price
$630,000
Building Details
Buildings
4
Listing Agency:
Dye Real Estate & Land Company
(419) 516-4106
Listed By:
Seth Ciminillo
(419) 302-2159
Source:
Exprealty
Added: Jul 24
Changed: Sep 21
Last Checked: Sep 23 at 12:33AM
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 Dye Real Estate & Land Company
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises four residential properties offered together: 123 Garfield Ave., 119 Garfield Ave., 241 George St., and 114 George St. The properties are used as college rentals, creating a multi-asset residential holding within Findlay, Ohio.
Three properties are rented individually by the bedroom, while 241 George St. follows a different rental arrangement. The portfolio is presented as an established rental operation and includes multiple addresses in one acquisition.
Three properties are rented individually by the bedroom, while 241 George St. follows a different rental arrangement. The portfolio is presented as an established rental operation and includes multiple addresses in one acquisition.
Key Highlights
- Four‑property multifamily portfolio offered as one package
- Includes 123 Garfield Ave. and 119 Garfield Ave.
- Includes 241 George St. and 114 George St.
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
$9,122
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
7.02%
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%
$182,440
$182.4K
Cap Rate 7%
$130,314
$130.3K
Cap Rate 9%
$101,356
$101.4K
Market Conditions
NOI Build-Up for 995 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
$17.3K $17.40/SF
− Vacancy
−$727 −$0.73/SF
EGI
$16.6K $16.67/SF
− OpEx
−$7.5K −$7.50/SF
NOI
$9.1K $9.17/SF
Area
Hancock County, OH
Vacancy
4.20%
Lease Rate
$17.40 /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%
$182,440
Cap Rate 7%
$130,314
Cap Rate 9%
$101,356
Alternative Uses
Best Use
Apartment 5plus
$130.3K
$114.0K – $152.0K
NOI $9,122 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$277.5K
$242.8K – $323.8K
NOI $19,427 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
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 - College-oriented rentals are operated across multiple residential properties, with most homes leased by the bedroom.
Where is this multifamily property located?
The property is located at 114 George St Findlay, OH.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Four‑property multifamily portfolio offered as one package; Includes 123 Garfield Ave. and 119 Garfield Ave.; Includes 241 George St. and 114 George St.
