Duplex with Enclosed
For Sale
Contact for pricing
173 North Mecca Street, Cortland, OH 44410
Duplex for sale featuring two-bedroom units, a large enclosed porch, and a two-car garage with storage.
Property Size2,341 SF
Price / SF$106.79
Days on Market138
Property Features for 173 North Mecca Street
General Information
Standard status
Active
Size
2,341 SF
Class
B
Total Parking Spaces
2
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Amenities
enclosed porch
2 storage units
Building Details
Units
2
Listing Agency:
Platz Realty Group
Listed By:
Alicia Angelo · License #OH 2017002852
(740) 627-0431
Source:
Crexi
Added: Apr 24
Changed: Aug 14
Last Checked: Sep 6 at 11:26PM
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 Platz Realty Group
Investment Insights
Based on property information with market context.
This duplex investment property includes two separate two-bedroom units, for a total of four bedrooms and three full bathrooms. The upstairs unit features one bathroom, while the downstairs unit provides two bathrooms. Both units include kitchens, and the downstairs unit also offers a large enclosed porch. The property also includes a two-car garage with two storage units.
The seller’s remarks indicate the property could be managed as a duplex investment, or potentially configured as a single-occupant residence.
Overall, the layout provides separate unit functionality with multiple kitchens and a mix of bedroom and bathroom placement across the two levels, supported by the enclosed porch and attached garage and storage.
The seller’s remarks indicate the property could be managed as a duplex investment, or potentially configured as a single-occupant residence.
Overall, the layout provides separate unit functionality with multiple kitchens and a mix of bedroom and bathroom placement across the two levels, supported by the enclosed porch and attached garage and storage.
Key Highlights
- Duplex with two 2‑bedroom units (4 total bedrooms) and 3 total full baths
- Unit layout includes 1 bathroom upstairs and 2 bathrooms downstairs
- 2 kitchens across the duplex
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
$19,306
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
7.72%
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%
$386,120
$386.1K
Cap Rate 7%
$275,800
$275.8K
Cap Rate 9%
$214,511
$214.5K
Market Conditions
NOI Build-Up for 2,341 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
$29.5K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.6K $11.78/SF
− OpEx
−$8.3K −$3.53/SF
NOI
$19.3K $8.25/SF
Area
Trumbull County, OH
Vacancy
6.50%
Lease Rate
$12.60 /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%
$386,120
Cap Rate 7%
$275,800
Cap Rate 9%
$214,511
Alternative Uses
Best Use
Multifamily LT 5
$275.8K
$241.3K – $321.8K
NOI $19,306 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$255.7K
$223.8K – $298.4K
NOI $17,902 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$444.3K
$388.8K – $518.4K
NOI $31,103 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 44410, OH
16,824
Population
7,948
Households
2.1
Avg Household Size
49
Median Age
29%
College-Educated
95%
High-School Grad
65.4 sq mi
ZIP Area
257
Density / Sq Mi
$63,158
Median Household Income
$45,447
Median Earnings
$762
Median Rent
$174,600
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?
Duplex - Duplex for sale featuring two-bedroom units, a large enclosed porch, and a two-car garage with storage.
Where is this duplex located?
The property is located at 173 North Mecca Street Cortland, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom units (4 total bedrooms) and 3 total full baths; Unit layout includes 1 bathroom upstairs and 2 bathrooms downstairs; 2 kitchens across the duplex
