Two-Unit Duplex with
For Sale
$195,000
212 Town St, Circleville, OH 43113
Both residences are month-to-month, with tenants paying their own utilities.
Property Size1,654 SF
Price / SF$117.90
Days on Market23
Property Features for 212 Town St
General Information
Standard status
Active
Size
1,654 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Alicia Sweazy, RE/MAX Partners
(740) 389-2000
Listed By:
Real Estate Showcase RES · License #2009003178
(740) 389-2000
Source:
Resmarion
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 29 at 9:07AM
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 Alicia Sweazy, RE/MAX Partners
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,654 square feet and was built in 1900. The unit mix includes one two-bedroom, one-bath residence and one one-bedroom, one-bath residence. Each apartment is equipped with a refrigerator and stove. The property is being offered in its current as-is condition.
Both units are leased month to month, and occupants pay their own utilities. Property access requires 48 hours’ notice, and visitors should not disturb the tenants. The duplex is located at 212 Town St in Circleville, Ohio.
Both units are leased month to month, and occupants pay their own utilities. Property access requires 48 hours’ notice, and visitors should not disturb the tenants. The duplex is located at 212 Town St in Circleville, Ohio.
Key Highlights
- 1,654‑square‑foot duplex built in 1900
- Unit mix includes one 2BR/1BA and one 1BR/1BA residence
- Each unit includes a refrigerator and stove
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
$17,537
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
8.99%
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%
$350,740
$350.7K
Cap Rate 7%
$250,529
$250.5K
Cap Rate 9%
$194,856
$194.9K
Market Conditions
NOI Build-Up for 1,654 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
$26.8K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$25.1K $15.15/SF
− OpEx
−$7.5K −$4.54/SF
NOI
$17.5K $10.60/SF
Area
Pickaway County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$350,740
Cap Rate 7%
$250,529
Cap Rate 9%
$194,856
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,537 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$244.2K
$213.7K – $284.9K
NOI $17,092 @ 7.0% cap · market cap 8.77%
Theoretical Best
Warehouse
$333.4K
$291.7K – $388.9K
NOI $23,336 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Both residences are month-to-month, with tenants paying their own utilities.
Where is this duplex located?
The property is located at 212 Town 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: 1,654‑square‑foot duplex built in 1900; Unit mix includes one 2BR/1BA and one 1BR/1BA residence; Each unit includes a refrigerator and stove
