Dual-Residence Residential Income
For Sale
$289,000
30180 Jug Run Road Frazeysburg, Frazeysburg, OH 43822
Two separate homes on 9+ acres with fields, woods, and private spring-fed water features.
Property Size1,568 SF
Lot Size9.10 Acres
Price / SF$184.31
Days on Market46
Property Features for 30180 Jug Run Road Frazeysburg
General Information
Standard status
Active
Size
1,568 SF
Lot size
9.10 Acres
Property subtype
Land
Net Operating Income
$1.00
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$969
Amenities
No
Stream On Lot,Wooded
9.08
Building Details
Year Built
1966
Listing Agency:
(614) 660-5959
Listed By:
Penny Ray
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 21 at 4:08AM
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 Penny Ray
Investment Insights
Based on property information with market context.
This 9.1-acre tract includes two distinct residences set up for dual living or rental income. Unit B is move-in-ready, featuring a spacious 896 sq. ft. layout with 2 bedrooms and an oversized bathroom with dual sinks. The home includes wide, deep soaking tub and a free-standing shower, brand new wall-to-wall carpeting, and a recently remodeled kitchen with floor-to-ceiling windows overlooking the meadow wildlife. New window treatments and blinds are included, along with central air conditioning and three ceiling fans. An expansive back deck provides open, panoramic views of the rolling acreage.
Unit A adds a second, separate home with 672 sq. ft., 2 bedrooms, and 1.5 bathrooms. It is being offered furnished, with a recently remodeled kitchen that includes a new propane stove and refrigerator. Cooling consists of two window A/C units (one new) and a ceiling fan. A hillside spring cascades into the meandering Jug Run stream that crosses the property, and the home also includes a full-sized washer and dryer in the bathroom. The oversized carport is sized for a vehicle and lawn equipment.
The property is complemented by multiple outbuildings, including an 8 x 10 utility shed with electric and water hookups, an 8 x 10 soft-sided shed, and a long metal container shed, plus two deer stands. With one home positioned for immediate occupancy and the second offering light TLC, this setting supports a practical multi-generational or income-focused arrangement.
Unit A adds a second, separate home with 672 sq. ft., 2 bedrooms, and 1.5 bathrooms. It is being offered furnished, with a recently remodeled kitchen that includes a new propane stove and refrigerator. Cooling consists of two window A/C units (one new) and a ceiling fan. A hillside spring cascades into the meandering Jug Run stream that crosses the property, and the home also includes a full-sized washer and dryer in the bathroom. The oversized carport is sized for a vehicle and lawn equipment.
The property is complemented by multiple outbuildings, including an 8 x 10 utility shed with electric and water hookups, an 8 x 10 soft-sided shed, and a long metal container shed, plus two deer stands. With one home positioned for immediate occupancy and the second offering light TLC, this setting supports a practical multi-generational or income-focused arrangement.
Key Highlights
- 9.08‑acre wooded property with stream on lot and spring‑fed water features, including a hillside spring and Jug Run stream crossing the land
- Two distinct residences for dual living: Unit B is a move‑in‑ready 896 SF home with 2 bedrooms and 1 oversized bathroom
- Unit B features central air plus three ceiling fans, recently remodeled kitchen with floor‑to‑ceiling windows, and brand new wall‑to‑wall carpeting
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
$10,468
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
3.62%
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%
$209,360
$209.4K
Cap Rate 7%
$149,543
$149.5K
Cap Rate 9%
$116,311
$116.3K
Market Conditions
NOI Build-Up for 1,568 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
$16.0K $10.20/SF
− Vacancy
−$1.0K −$0.66/SF
EGI
$15.0K $9.54/SF
− OpEx
−$4.5K −$2.86/SF
NOI
$10.5K $6.68/SF
Area
Muskingum County, OH
Vacancy
6.50%
Lease Rate
$10.20 /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%
$209,360
Cap Rate 7%
$149,543
Cap Rate 9%
$116,311
Alternative Uses
Best Use
Multifamily LT 5
$149.5K
$130.9K – $174.5K
NOI $10,468 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$134.8K
$118.0K – $157.3K
NOI $9,436 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$340.3K
$297.8K – $397.1K
NOI $23,823 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 43822, OH
4,668
Population
2,060
Households
2.3
Avg Household Size
41
Median Age
12%
College-Educated
92%
High-School Grad
88.5 sq mi
ZIP Area
53
Density / Sq Mi
$60,423
Median Household Income
$38,297
Median Earnings
$730
Median Rent
$177,800
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?
Duplex - Two separate homes on 9+ acres with fields, woods, and private spring-fed water features.
Where is this duplex located?
The property is located at 30180 Jug Run Road Frazeysburg Frazeysburg, OH.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 9.08‑acre wooded property with stream on lot and spring‑fed water features, including a hillside spring and Jug Run stream crossing the land; Two distinct residences for dual living: Unit B is a move‑in‑ready 896 SF home with 2 bedrooms and 1 oversized bathroom; Unit B features central air plus three ceiling fans, recently remodeled kitchen with floor‑to‑ceiling windows, and brand new wall‑to‑wall carpeting
