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    Historic Triplex in Caldwell District Title is generated by Realmo AI

    205 W Greene Street, Piqua, OH 45356

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    Claim this Listing
    For Sale
    Under Contract
    $239,900

    MULTI_FAMILY - Piqua, OH

    Property size:
    3,237 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $74/SF
    Added:
    Apr 13, 2026
    Days on Market:
    34
    Last Refresh:
    May 16 at 1:06 pm

    Property Features for 205 W Greene Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1
    Parking features
    Garage
    Window features
    Window Coverings
    Patio and Porch features
    Porch
    Interior features
    Ceiling Fan(s)
    Fireplace
    1
    Basement
    Walk-Out Access, Full
    Appliances
    Dryer, Range, Refrigerator, Washer
    Standard status
    Active Under Contract
    APN
    N44002290
    Size
    3,237 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2025

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    3
    Building materials
    Stucco, Wood Siding

    We can help!

    Listing Contact
    Jeanie J. Bates

    Listing agent Jeanie J. Bates

    Listing office McVety Realty 222 W Ash St., Piqua, OH

    Listing date Apr 13, 2026

    MLS# 1044982 Listing URL

    Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey investment property with three units
    • Located in the historic Caldwell District, walking distance to downtown amenities
    • Recent updates include a new roof (2024), new GFA furnaces (2021), and updated electric service/panels
    • Features original character and charm with stunning woodwork, pocket doors, open stairway, and hardwood floors
    • Each unit has its own utility hookups and access to the full walk‑out basement for storage
    • Tenants pay for gas, electric, and trash, simplifying owner expenses

    Overview

    This triplex, known as The Biltmore House, is located in the Historic Caldwell District on a corner lot. It is within walking distance of downtown shopping, amenities, the YMCA, bike path, and parks. The property has been impeccably maintained, retaining its original character and charm, showcasing woodwork, pocket doors, an open stairway, and hardwood floors. A beautiful foyer provides a shared entry area to the three units. There are two one-bedroom units on the first floor, and a large two-bedroom unit occupies the second floor. Each unit has utility hook-ups in the full walk-out basement, which also provides additional storage. Tenants are responsible for gas, electric, and trash, while the owner pays for water and sewer. The property is a turnkey investment opportunity. The roof was replaced in 2024, new GFA furnaces were installed in 2021, unit A's kitchen and bath were remodeled in 2022, and the electric service and panels have been updated. The property size is 3237 square feet and the lot size is 0.05 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Piqua
    County
    Miami
    State
    Ohio
    Longitude
    -84.241224
    Latitude
    40.15062

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    FAQs

    What type of property is this?
    Triplex - Impeccably maintained triplex with original charm in historic district.
    Where is this triplex located?
    The property is located at 205 W Greene Street Piqua, 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: Turnkey investment property with three units; Located in the historic Caldwell District, walking distance to downtown amenities; Recent updates include a new roof (2024), new GFA furnaces (2021), and updated electric service/panels
    (937) 773-8215
    We can help!
    Listing Contact
    Jeanie J. Bates
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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