Renovated Triplex with Coin
For Sale
$359,900
1321 Laclede Rd, Toledo, OH 43612
Three-unit residential property with updated interiors, two occupied units, and one vacancy for lease-up or owner occupancy.
Property Size3,096 SF
Price / SF$116.25
Days on Market34
Property Features for 1321 Laclede Rd
General Information
Standard status
Active
Size
3,096 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
needing touch-ups
Additional Details
Multifamily Units
3
Amenities
on-site coin laundry
Listing Agency:
HillMcCarthy Real Estate LLC
(419) 764-4352
Listed By:
Case McCarthy
(419) 764-4352
Source:
Exprealty
Added: Jul 21
Changed: Aug 21
Last Checked: Aug 23 at 4:41AM
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 HillMcCarthy Real Estate LLC
Investment Insights
Based on property information with market context.
This 3,096-square-foot triplex includes two primary layouts of approximately 1,500 square feet each, along with a third unit. The upper residence has been refreshed with new LVP flooring in the kitchen, professionally re-stained hardwood floors, updated fixtures, and fresh paint. Another unit includes newer LVP flooring and paint but is vacant and requires touch-ups before leasing or occupancy. Two units are occupied under longer-term leases, while the vacant unit provides flexibility for a new resident or an owner-occupant.
Capital improvements completed in 2024 include a new roof and gutters, electrical panels, and boiler. On-site coin-operated laundry provides an additional property feature. The property is located at 1321 Laclede Rd in Toledo, Ohio.
Capital improvements completed in 2024 include a new roof and gutters, electrical panels, and boiler. On-site coin-operated laundry provides an additional property feature. The property is located at 1321 Laclede Rd in Toledo, Ohio.
Key Highlights
- 3,096‑square‑foot triplex with two primary layouts of approximately 1,500 square feet each
- Upper unit updated with kitchen LVP flooring, re‑stained hardwood floors, new fixtures, and fresh paint
- Two units occupied under longer‑term leases
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
$28,271
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
7.86%
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%
$565,420
$565.4K
Cap Rate 7%
$403,871
$403.9K
Cap Rate 9%
$314,122
$314.1K
Market Conditions
NOI Build-Up for 3,096 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
$42.0K $13.56/SF
− Vacancy
−$1.6K −$0.52/SF
EGI
$40.4K $13.04/SF
− OpEx
−$12.1K −$3.91/SF
NOI
$28.3K $9.13/SF
Area
Toledo, OH
Vacancy
3.80%
Lease Rate
$13.56 /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%
$565,420
Cap Rate 7%
$403,871
Cap Rate 9%
$314,122
Alternative Uses
Best Use
Multifamily LT 5
$403.9K
$353.4K – $471.2K
NOI $28,271 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$372.7K
$326.1K – $434.8K
NOI $26,090 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$515.2K
$450.8K – $601.1K
NOI $36,067 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Explore this area
Business Placement
Demographics for 43612, OH
29,718
Population
13,409
Households
2.2
Avg Household Size
35
Median Age
13%
College-Educated
90%
High-School Grad
11.5 sq mi
ZIP Area
2,584
Density / Sq Mi
$50,484
Median Household Income
$33,770
Median Earnings
$976
Median Rent
$89,700
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?
Triplex - Three-unit residential property with updated interiors, two occupied units, and one vacancy for lease-up or owner occupancy.
Where is this triplex located?
The property is located at 1321 Laclede Rd Toledo, OH.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 3,096‑square‑foot triplex with two primary layouts of approximately 1,500 square feet each; Upper unit updated with kitchen LVP flooring, re‑stained hardwood floors, new fixtures, and fresh paint; Two units occupied under longer‑term leases
