Waterville Multi-Family
For Sale
$275,000
132 Wilkshire Drive, Waterville, OH 43566
Well-maintained multi-family home near Conrad Park and library.
Property Size2,117 SF
Lot Size0.25 Acres
Days on Market329
Property Features for 132 Wilkshire Drive
General Information
Standard status
Active
Size
2,117 SF
Lot size
0.25 Acres
Property subtype
Duplex
Amenities
Natural Gas
Boiler
Dishwasher
Water Heater
Disposal
Electric Range Connection
Electricity Connected, Shingles
Building Details
Building Size
2,117 SF
Year Built
1945
Stories
1
Listing Agency:
Assist2Sell Buy & Sell Realty
(419) 601-1261
Listed By:
Cindy Morlock
(419) 601-1261
Source:
Kw
Added: Oct 9, 2025
Changed: Aug 31
Last Checked: Sep 1 at 2:40PM
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 Assist2Sell Buy & Sell Realty
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 = 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
$17,047
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
6.20%
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%
$340,940
$340.9K
Cap Rate 7%
$243,529
$243.5K
Cap Rate 9%
$189,411
$189.4K
Market Conditions
NOI Build-Up for 2,117 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
$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 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%
$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
NOI $17,047 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$212.8K
$186.2K – $248.3K
NOI $14,895 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$387.5K
$339.0K – $452.0K
NOI $27,122 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 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.
