Two-Unit Duplex
For Sale
$195,000
201 Logan St, Circleville, OH 43113
Rental duplex offering separate one-bedroom and three-bedroom apartments with tenant-paid utilities.
Property Size1,704 SF
Price / SF$114.44
Days on Market48
Property Features for 201 Logan St
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Joellen Mapp, Signature Real Estate
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Aug 9
Changed: Sep 24
Last Checked: Sep 24 at 9:51AM
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 Joellen Mapp, Signature Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two residential units: a one-bedroom, one-bath apartment and a three-bedroom, one-bath apartment. The property was built in 1900 and is being offered in its current as-is condition. Tenants are responsible for their own utilities, providing separate utility obligations by unit.
The leasing profile includes one unit under a one-year lease and the other on a month-to-month arrangement. Showings require 48 hours’ notice. The duplex is located at 201 Logan Street in Circleville, Ohio, and may be purchased together with two additional duplex properties at 215 Mound and 212 Town.
The leasing profile includes one unit under a one-year lease and the other on a month-to-month arrangement. Showings require 48 hours’ notice. The duplex is located at 201 Logan Street in Circleville, Ohio, and may be purchased together with two additional duplex properties at 215 Mound and 212 Town.
Key Highlights
- Two‑unit duplex with one 1‑bedroom, 1‑bath unit and one 3‑bedroom, 1‑bath unit
- Built in 1900
- Tenants pay their own utilities
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
$17,608
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
9.03%
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%
$352,160
$352.2K
Cap Rate 7%
$251,543
$251.5K
Cap Rate 9%
$195,644
$195.6K
Market Conditions
NOI Build-Up for 1,704 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
$34.8K $20.40/SF
− Vacancy
−$2.7K −$1.61/SF
EGI
$32.0K $18.79/SF
− OpEx
−$14.4K −$8.45/SF
NOI
$17.6K $10.33/SF
Area
Pickaway County, OH
Vacancy
7.90%
Lease Rate
$20.40 /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%
$352,160
Cap Rate 7%
$251,543
Cap Rate 9%
$195,644
Alternative Uses
Best Use
Multifamily LT 5
$258.1K
$225.8K – $301.1K
NOI $18,067 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$251.5K
$220.1K – $293.5K
NOI $17,608 @ 7.0% cap · market cap 9.03%
Theoretical Best
Warehouse
$343.4K
$300.5K – $400.7K
NOI $24,041 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 43113, OH
24,165
Population
10,461
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
89%
High-School Grad
162.2 sq mi
ZIP Area
149
Density / Sq Mi
$63,715
Median Household Income
$39,174
Median Earnings
$935
Median Rent
$217,500
Median Home Value
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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?
Duplex - Rental duplex offering separate one-bedroom and three-bedroom apartments with tenant-paid utilities.
Where is this duplex located?
The property is located at 201 Logan St Circleville, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two‑unit duplex with one 1‑bedroom, 1‑bath unit and one 3‑bedroom, 1‑bath unit; Built in 1900; Tenants pay their own utilities
