Triplex with Updated
For Sale
$260,000
1464 Sunshine Street, Oregon, OH 43616
Neighboring properties include recent renovations, electrical work, roof improvements, and connected water, sewer, and electric service.
Property Size1,512 SF
Days on Market52
Property Features for 1464 Sunshine Street
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Triplex
Additional Details
Multifamily Units
4
Amenities
Propane
Radiator
Water Heater
Refrigerator
Electricity Connected, Water Connected, Sewer Connected, Shingles
Building Details
Building Size
1,512 SF
Year Built
1897
Buildings
2
Stories
1
Listing Agency:
The Danberry Co
(419) 283-9980
Listed By:
Andrew Grier
(419) 283-9980
Source:
Kw
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 11:37PM
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 The Danberry Co
Investment Insights
Based on property information with market context.
This triplex property at 1464 Sunshine Street includes a fully remodeled Unit 1, updated electrical components, and refreshed water-heater systems. Two new furnaces have been installed, and the roof work includes new sheeting, underlayment, and shingles. Interior features include propane service, radiator heat, a water heater, and a refrigerator.
The property is located in Oregon, Ohio, within the Oregon School District. A new water meter has been added, while electric, water, and sewer connections are in place. The record also references a neighboring property at 1466 Sunshine Street as part of the offering.
The property is located in Oregon, Ohio, within the Oregon School District. A new water meter has been added, while electric, water, and sewer connections are in place. The record also references a neighboring property at 1466 Sunshine Street as part of the offering.
Key Highlights
- Triplex property in Oregon School District
- Fully remodeled Unit 1
- 2 new furnaces installed
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
$12,175
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
4.68%
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%
$243,500
$243.5K
Cap Rate 7%
$173,929
$173.9K
Cap Rate 9%
$135,278
$135.3K
Market Conditions
NOI Build-Up for 1,512 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
$18.7K $12.36/SF
− Vacancy
−$1.3K −$0.86/SF
EGI
$17.4K $11.50/SF
− OpEx
−$5.2K −$3.45/SF
NOI
$12.2K $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%
$243,500
Cap Rate 7%
$173,929
Cap Rate 9%
$135,278
Alternative Uses
Best Use
Multifamily LT 5
$173.9K
$152.2K – $202.9K
NOI $12,175 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$152.0K
$133.0K – $177.3K
NOI $10,638 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$276.7K
$242.1K – $322.9K
NOI $19,371 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 43616, OH
20,480
Population
8,901
Households
2.3
Avg Household Size
45
Median Age
24%
College-Educated
94%
High-School Grad
38.4 sq mi
ZIP Area
533
Density / Sq Mi
$82,105
Median Household Income
$42,696
Median Earnings
$876
Median Rent
$190,500
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 - Neighboring properties include recent renovations, electrical work, roof improvements, and connected water, sewer, and electric service.
Where is this triplex located?
The property is located at 1464 Sunshine Street Oregon, OH.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Triplex property in Oregon School District; Fully remodeled Unit 1; 2 new furnaces installed
