Tenant-Occupied
For Sale
$128,900
Pending
1810-1808 Stewart Blvd, Fairborn, OH 45324
Each side includes one bedroom and one bath, with one unit currently occupied.
Property Size1,296 SF
Days on Market14
Property Features for 1810-1808 Stewart Blvd
General Information
Standard status
Pending
Size
1,296 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Listing Agency:
Keller Williams Community Part
(937) 530-4904
Listed By:
Brandon Harris
(513) 438-0722
Source:
Exprealty
Added: Sep 12
Changed: Sep 19
Last Checked: Sep 24 at 11:46AM
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 Keller Williams Community Part
Investment Insights
Based on property information with market context.
This duplex contains two separate one-bedroom, one-bath units within 1,296 square feet. One unit is currently occupied, providing an existing tenant arrangement for the property. The building is positioned in Fairborn near shopping, dining, schools, and major roadways, offering convenient access to everyday services and transportation routes.
Key Highlights
- Two‑unit duplex totaling 1,296 square feet
- Each unit includes 1 bedroom and 1 bath
- One unit is currently tenant occupied
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
$11,039
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
8.56%
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%
$220,780
$220.8K
Cap Rate 7%
$157,700
$157.7K
Cap Rate 9%
$122,656
$122.7K
Market Conditions
NOI Build-Up for 1,296 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
$21.0K $16.20/SF
− Vacancy
−$924 −$0.71/SF
EGI
$20.1K $15.49/SF
− OpEx
−$9.0K −$6.97/SF
NOI
$11.0K $8.52/SF
Area
Greene County, OH
Vacancy
4.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$220,780
Cap Rate 7%
$157,700
Cap Rate 9%
$122,656
Alternative Uses
Best Use
Multifamily LT 5
$171.4K
$150.0K – $199.9K
NOI $11,996 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$157.7K
$138.0K – $184.0K
NOI $11,039 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office B
$243.7K
$213.2K – $284.3K
NOI $17,058 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 45324, OH
40,449
Population
19,729
Households
2.1
Avg Household Size
34
Median Age
30%
College-Educated
92%
High-School Grad
33.1 sq mi
ZIP Area
1,222
Density / Sq Mi
$59,861
Median Household Income
$37,348
Median Earnings
$989
Median Rent
$177,700
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?
Duplex - Each side includes one bedroom and one bath, with one unit currently occupied.
Where is this duplex located?
The property is located at 1810-1808 Stewart Blvd Fairborn, OH.
What is the asking price?
The asking price for this property is $128,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,296 square feet; Each unit includes 1 bedroom and 1 bath; One unit is currently tenant occupied
