Harvard Terrace Duplex For
For Sale
$214,900
127 University Boulevard, Toledo, OH 43614
Well-maintained duplex in Harvard Terrace with stable rental history.
Property Size2,321 SF
Lot Size0.14 Acres
Days on Market311
Property Features for 127 University Boulevard
General Information
Standard status
Active
Size
2,321 SF
Lot size
0.14 Acres
Property subtype
Duplex
Amenities
Forced Air
Natural Gas
Dishwasher
Dryer
Refrigerator
Washer
Patio, Internet Available, Sewer Connected, Natural Gas Available, Asphalt
Building Details
Building Size
2,321 SF
Year Built
1907
Stories
2
Listing Agency:
Kerber Real Estate
(419) 874-9100
Listed By:
Nathan Kerber
(419) 874-9100
Source:
Kw
Added: Oct 16, 2025
Changed: Aug 21
Last Checked: Aug 21 at 2:26PM
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 Kerber Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex is located in Harvard Terrace and features a stable rental history. Garage parking is available, presenting a potential investment opportunity.
Key Highlights
- Stable rental history: Proven income potential.
- Garage parking: Provides secure and convenient vehicle storage.
- Patio: Offers outdoor space for relaxation and entertainment.
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
$19,559
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
9.10%
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%
$391,180
$391.2K
Cap Rate 7%
$279,414
$279.4K
Cap Rate 9%
$217,322
$217.3K
Market Conditions
NOI Build-Up for 2,321 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
$37.0K $15.96/SF
− Vacancy
−$1.5K −$0.64/SF
EGI
$35.6K $15.32/SF
− OpEx
−$16.0K −$6.89/SF
NOI
$19.6K $8.43/SF
Area
Toledo, OH
Vacancy
4.00%
Lease Rate
$15.96 /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%
$391,180
Cap Rate 7%
$279,414
Cap Rate 9%
$217,322
Alternative Uses
Best Use
Multifamily LT 5
$302.8K
$264.9K – $353.2K
NOI $21,194 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$279.4K
$244.5K – $326.0K
NOI $19,559 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$386.3K
$338.0K – $450.7K
NOI $27,039 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 43614, OH
29,866
Population
14,651
Households
2
Avg Household Size
42
Median Age
32%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
3,318
Density / Sq Mi
$57,253
Median Household Income
$38,463
Median Earnings
$887
Median Rent
$160,600
Median Home Value
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 - Well-maintained duplex in Harvard Terrace with stable rental history.
Where is this duplex located?
The property is located at 127 University Boulevard Toledo, OH.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Stable rental history: Proven income potential.; Garage parking: Provides secure and convenient vehicle storage.; Patio: Offers outdoor space for relaxation and entertainment.
