Duplex with Detached
For Sale
$239,900
1820 Rice Blvd, Fairborn, OH 45324
Two-unit residential property with one vacant unit, existing tenancy, and private off-street parking.
Property Size1,733 SF
Price / SF$138.43
Days on Market11
Property Features for 1820 Rice Blvd
General Information
Standard status
Active
Size
1,733 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1951
Listing Agency:
Collins Real Estate Services
(937) 626-4181
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 10:58PM
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 Collins Real Estate Services
Investment Insights
Based on property information with market context.
This 1,733-square-foot duplex, built in 1951, includes two distinct residential units with separate driveways. Unit 1820 is vacant and offers 2 bedrooms, 1 full bathroom, wood-look flooring through much of the living area, a neutral interior, and a kitchen with ample cabinetry and counter space. Its bathroom includes a tub and shower combination. Unit 1824 is a 1.5-story residence with an unfinished basement and a detached 2-car garage. The unit is tenant occupied and provides ongoing rental income.
Located in Fairborn, the property offers access to area shopping, dining, schools, and major roadways. The combination of a vacant residence, established occupancy, private parking, and garage space supports both investment and owner-occupant considerations.
Located in Fairborn, the property offers access to area shopping, dining, schools, and major roadways. The combination of a vacant residence, established occupancy, private parking, and garage space supports both investment and owner-occupant considerations.
Key Highlights
- 1,733 SF duplex built in 1951
- Unit 1820 is vacant with 2 bedrooms and 1 full bathroom
- Unit 1824 is a 1.5‑story tenant‑occupied unit
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
$16,041
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
6.69%
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%
$320,820
$320.8K
Cap Rate 7%
$229,157
$229.2K
Cap Rate 9%
$178,233
$178.2K
Market Conditions
NOI Build-Up for 1,733 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
$23.9K $13.80/SF
− Vacancy
−$1,000 −$0.58/SF
EGI
$22.9K $13.22/SF
− OpEx
−$6.9K −$3.97/SF
NOI
$16.0K $9.26/SF
Area
Greene County, OH
Vacancy
4.18%
Lease Rate
$13.80 /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%
$320,820
Cap Rate 7%
$229,157
Cap Rate 9%
$178,233
Alternative Uses
Best Use
Multifamily LT 5
$229.2K
$200.5K – $267.4K
NOI $16,041 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$210.9K
$184.5K – $246.0K
NOI $14,762 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office B
$325.9K
$285.1K – $380.2K
NOI $22,810 @ 7.0% cap · market cap 9.51%
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
216
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 - Two-unit residential property with one vacant unit, existing tenancy, and private off-street parking.
Where is this duplex located?
The property is located at 1820 Rice Blvd Fairborn, OH.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 1,733 SF duplex built in 1951; Unit 1820 is vacant with 2 bedrooms and 1 full bathroom; Unit 1824 is a 1.5‑story tenant‑occupied unit
