Building Details

Building Size 2,117 SF

Year Built 1945

Stories 1

Listing Agency: Assist2Sell Buy & Sell Realty

Listed By: Cindy Morlock Show Phone

Source: Kw

Added: Oct 9, 2025 Changed: Oct 18 Last Checked: Oct 19 at 3:51AM

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Investment Insights

Based on property information with market context.

This Waterville multi-family home is located adjacent to Conrad Park and the library. The main part of the house features 3 bedrooms and 1 bathroom. Additionally, there is an apartment with a living room, kitchen, 1 bedroom, 1 bathroom, plus stackable washer and dryer. The spacious living room has refinished hardwood flooring. There is storage space on either side of the upstairs bedroom with walk-in attic space. Updates include 3 new mini split units in the main home and a new roof this year. The windows were replaced in 2011 and have a transferable warranty. The property offers a setting with privacy and a spacious rear yard.

Key Highlights

• New roof installed this year.
• Multi‑family home with a separate apartment featuring 1 bed, 1 bath, kitchen, living room, and stackable W&D.
• Three new mini‑split units in the main home.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,047

Cap Rate

6.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$340,940 $340.9K

Cap Rate 7%

$243,529 $243.5K

Cap Rate 9%

$189,411 $189.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,117 SF

Gross rent

$26.2K $12.36/SF

− Vacancy

−$1.8K −$0.86/SF

EGI

$24.4K $11.50/SF

− OpEx

−$7.3K −$3.45/SF

NOI

$17.0K $8.05/SF

Area

Lucas County, OH

Vacancy

6.93%

Lease Rate

$12.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$340,940

Cap Rate 7%

$243,529

Cap Rate 9%

$189,411

Alternative Uses

Best Use

Multifamily LT 5

$243.5K

$213.1K – $284.1K (±1% cap)

NOI $17,047 @ 7.0% cap · market cap 6.20%

Second Best

Apartment 5plus

$212.8K

$186.2K – $248.3K (±1% cap)

NOI $14,895 @ 7.0% cap · market cap 5.42%

Theoretical Best

Specialty Retail

$387.5K

$339.0K – $452.0K (±1% cap)

NOI $27,122 @ 7.0% cap · market cap 9.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Location Intelligence

Trade Area within ½ mile

270

Businesses Nearby

Explore this area Business Placement

Demographics for 43566, OH

8,371

Population

3,594

Households

2.3

Avg Household Size

43

Median Age

46%

College-Educated

98%

High-School Grad

18.4 sq mi

ZIP Area

455

Density / Sq Mi

$108,497

Median Household Income

$57,413

Median Earnings

$1,378

Median Rent

$283,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained multi-family home near Conrad Park and library.

Where is this duplex located?

The property is located at 132 Wilkshire Drive Waterville, OH.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: New roof installed this year.; Multi‑family home with a separate apartment featuring 1 bed, 1 bath, kitchen, living room, and stackable W&D.; Three new mini‑split units in the main home.