7-Unit Apartment
For Sale
$269,900
196 W Main St, Wilmington, OH 45177
Fully occupied rental property with on-site management, enclosed porch, fenced yard, and detached garage space.
Property Size2,600 SF
Price / SF$103.81
Days on Market66
Property Features for 196 W Main St
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
7
Amenities
on-site manager
front enclosed porch
fenced-in backyard
garage
Building Details
Year Built
1922
Listing Agency:
Here To Serve Real Estate Prof
Listed By:
Matthew Thompson
(937) 728-4222
Source:
Finn-team
Added: Aug 11
Changed: Sep 29
Last Checked: Oct 12 at 10:38PM
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 Here To Serve Real Estate Prof
Investment Insights
Based on property information with market context.
This apartment building contains 7 rental units and is fully occupied, with an on-site manager supporting day-to-day property operations. The improvements include an enclosed front porch, a fenced backyard, and a 28-by-19-foot garage that provides additional storage or tenant-use space.
Built in 1922, the property has a metal roof installed 2 years ago. The building is located at 196 W Main St in Wilmington, Ohio, and offers a defined multifamily configuration with existing occupancy and on-site management in place.
Built in 1922, the property has a metal roof installed 2 years ago. The building is located at 196 W Main St in Wilmington, Ohio, and offers a defined multifamily configuration with existing occupancy and on-site management in place.
Key Highlights
- 7 rental units with full occupancy
- On‑site manager supports property operations
- 28x19 garage provides additional storage or tenant‑use space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,451
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,020
$369.0K
Cap Rate 7%
$263,586
$263.6K
Cap Rate 9%
$205,011
$205.0K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$35.9K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$33.5K $12.90/SF
− OpEx
−$15.1K −$5.81/SF
NOI
$18.5K $7.10/SF
Area
Clinton County, OH
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,020
Cap Rate 7%
$263,586
Cap Rate 9%
$205,011
Alternative Uses
Best Use
Apartment 5plus
$263.6K
$230.6K – $307.5K
NOI $18,451 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$676.9K
$592.3K – $789.7K
NOI $47,381 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 45177, OH
22,349
Population
9,870
Households
2.3
Avg Household Size
40
Median Age
26%
College-Educated
94%
High-School Grad
170.0 sq mi
ZIP Area
131
Density / Sq Mi
$70,483
Median Household Income
$36,980
Median Earnings
$933
Median Rent
$209,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied rental property with on-site management, enclosed porch, fenced yard, and detached garage space.
Where is this apartment building located?
The property is located at 196 W Main St Wilmington, OH.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 7 rental units with full occupancy; On‑site manager supports property operations; 28x19 garage provides additional storage or tenant‑use space
