Two-Unit Duplex with
153 Lake St, Lancaster, OH 43130
For Sale
$159,000
Residential income property with flexible two-unit layout, alley-accessed parking, covered porches, and a rear yard.
Property Size1,315 SF
Price / SF$120.91
Days on Market53
Property Features for 153 Lake St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
off street parking
covered front porches
Building Details
Year Built
Buildings
Listing Agency:
Suzanne Smith, Howard Hanna Real Estate Svcs
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Sep 16
Changed: Nov 6
Last Checked: Nov 6 at 7:46AM
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 Suzanne Smith, Howard Hanna Real Estate Svcs
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Investment Insights
Based on property information with market context.
This duplex contains 1,315 square feet and was built in 1900. The configuration includes one two-bedroom, one-bath residence and a separate one-bedroom, one-bath residence, providing distinct living spaces within the same building.
Off-street parking is available from the alley. Covered front porches serve both units, and the property includes a sizable backyard. The unit mix, outdoor areas, and parking arrangement are the primary physical features of this two-unit residential income property.
Off-street parking is available from the alley. Covered front porches serve both units, and the property includes a sizable backyard. The unit mix, outdoor areas, and parking arrangement are the primary physical features of this two-unit residential income property.
Key Highlights
- Two‑unit duplex with 1,315 square feet
- Unit mix includes one 2 BR/1 Bath and one 1 BR/1 Bath residence
- Off‑street parking accessed from the alley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,824
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,480
$256.5K
Cap Rate 7%
$183,200
$183.2K
Cap Rate 9%
$142,489
$142.5K
Market Conditions
NOI Build-Up for 1,315 SF
Gross rent
$19.7K $15.00/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$18.3K $13.93/SF
− OpEx
−$5.5K −$4.18/SF
NOI
$12.8K $9.75/SF
Area
Fairfield County, OH
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,480
Cap Rate 7%
$183,200
Cap Rate 9%
$142,489
Alternative Uses
Best Use
Multifamily LT 5
$183.2K
$160.3K – $213.7K
NOI $12,824 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$166.3K
$145.5K – $194.0K
NOI $11,641 @ 7.0% cap · market cap 7.32%
Theoretical Best
Warehouse
$265.0K
$231.9K – $309.2K
NOI $18,553 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
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Business Placement
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with flexible two-unit layout, alley-accessed parking, covered porches, and a rear yard.
Where is this duplex located?
The property is located at 153 Lake St Lancaster, OH.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,315 square feet; Unit mix includes one 2 BR/1 Bath and one 1 BR/1 Bath residence; Off‑street parking accessed from the alley
