Duplex with Second
For Sale
$150,000
132 E Reynolds Street, Urbana, OH 43078
Multi-Family, Urbana, OH
Property Size2,029 SF
Lot Size0.15 Acres
Price / SF$73.93
Days on Market47
Property Features for 132 E Reynolds Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking features
None
Patio and Porch features
Porch
Basement
Partial
Subdivision
On Gibbons Add
Lot features
Residential Lot
Elementary school district
1104 Urbana CSD
Middle school district
1104 Urbana CSD
High school district
1104 Urbana CSD
Directions
132 E Reynolds
Standard status
Active
APN
K482500021815400
Size
2,029 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Amenities
covered front porch
huge private backyard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Laminate, Vinyl
Building materials
Vinyl Siding
Listing Agency:
Key Realty
(877) 539-7589
Listed By:
Malia K. Hughes · License #2008001822
(937) 935-8008
Added: Jul 24
Changed: Sep 7
Last Checked: Sep 8 at 4:06PM
MLS# 1047266
Copyright © 2026 Western Regional Information System & Technology, 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 duplex property contains 2,029 square feet with four bedrooms, 2.5 bathrooms, two distinct living areas, and a second kitchen. The layout offers multiple residential configurations within a 1900-built home, while vinyl siding, laminate and vinyl flooring, forced-air natural-gas heat, and public sewer service are already in place. A covered front porch and private backyard add usable outdoor space.
The property sits on a 0.15-acre lot at 132 E Reynolds Street in Urbana, Ohio. Historic downtown Urbana is nearby, with access to local shopping, dining, and attractions. There is no designated parking on the property.
The property sits on a 0.15-acre lot at 132 E Reynolds Street in Urbana, Ohio. Historic downtown Urbana is nearby, with access to local shopping, dining, and attractions. There is no designated parking on the property.
Key Highlights
- 2,029 square feet with 4 bedrooms and 2.5 bathrooms
- Two separate living areas and a second kitchen
- 0.15‑acre lot with a private backyard
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
$7,012
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
4.67%
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%
$140,240
$140.2K
Cap Rate 7%
$100,171
$100.2K
Cap Rate 9%
$77,911
$77.9K
Market Conditions
NOI Build-Up for 2,029 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
$10.7K $5.28/SF
− Vacancy
−$696 −$0.34/SF
EGI
$10.0K $4.94/SF
− OpEx
−$3.0K −$1.48/SF
NOI
$7.0K $3.46/SF
Area
Champaign County, OH
Vacancy
6.50%
Lease Rate
$5.28 /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%
$140,240
Cap Rate 7%
$100,171
Cap Rate 9%
$77,911
Alternative Uses
Best Use
Multifamily LT 5
$100.2K
$87.7K – $116.9K
NOI $7,012 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$85.2K
$74.6K – $99.5K
NOI $5,967 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$565.9K
$495.2K – $660.3K
NOI $39,616 @ 7.0% cap · market cap 26.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 43078, OH
20,067
Population
8,904
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
133
Density / Sq Mi
$72,500
Median Household Income
$40,854
Median Earnings
$909
Median Rent
$176,300
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 - Versatile residential property with separate living areas, a covered porch, and a private backyard near downtown amenities.
Where is this duplex located?
The property is located at 132 E Reynolds Street Urbana, OH.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 2,029 square feet with 4 bedrooms and 2.5 bathrooms; Two separate living areas and a second kitchen; 0.15‑acre lot with a private backyard
