Brick Duplex with Two
For Sale
$179,900
22 Mello Ave, Dayton, OH 45410
Two leased residences include appliances, laundry equipment, and designated parking behind the building.
Property Size1,161 SF
Price / SF$154.95
Days on Market13
Property Features for 22 Mello Ave
General Information
Standard status
Active
Size
1,161 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Amenities
washer and dryer
dedicated parking
Building Details
Year Built
1960
Buildings
1
Stories
1
Construction
brick
Tenancy
Multi
Listing Agency:
Local Roots Realty
(937) 308-1883
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Sep 11
Changed: Sep 21
Last Checked: Sep 22 at 5:32PM
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 Local Roots Realty
Investment Insights
Based on property information with market context.
Built in 1960, this one-story brick duplex contains two one-bedroom residences within 1,161 square feet. Each approximately 580-square-foot unit includes a living room, dining area, kitchen, bedroom, and utility room equipped with a washer and dryer. Appliances remain with both units, and each residence is currently leased. Tenants handle gas and electric service.
Dedicated parking is located behind the building off the alley, with additional street parking available. The property is near the University of Dayton, Miami Valley Hospital, shopping, dining, and major roadways. The sale also includes the neighboring property at 26–28 Mello Avenue.
Dedicated parking is located behind the building off the alley, with additional street parking available. The property is near the University of Dayton, Miami Valley Hospital, shopping, dining, and major roadways. The sale also includes the neighboring property at 26–28 Mello Avenue.
Key Highlights
- Two one‑bedroom units within a 1,161‑square‑foot duplex
- Each unit is approximately 580 square feet
- One‑story brick construction completed in 1960
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
$12,440
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
6.91%
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%
$248,800
$248.8K
Cap Rate 7%
$177,714
$177.7K
Cap Rate 9%
$138,222
$138.2K
Market Conditions
NOI Build-Up for 1,161 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
$18.8K $16.20/SF
− Vacancy
−$1.0K −$0.89/SF
EGI
$17.8K $15.31/SF
− OpEx
−$5.3K −$4.59/SF
NOI
$12.4K $10.72/SF
Area
Dayton, OH
Vacancy
5.51%
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%
$248,800
Cap Rate 7%
$177,714
Cap Rate 9%
$138,222
Alternative Uses
Best Use
Multifamily LT 5
$177.7K
$155.5K – $207.3K
NOI $12,440 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$162.9K
$142.6K – $190.1K
NOI $11,405 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$247.4K
$216.5K – $288.7K
NOI $17,320 @ 7.0% cap · market cap 9.63%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 45410, OH
15,758
Population
8,028
Households
2
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
6,566
Density / Sq Mi
$46,766
Median Household Income
$36,552
Median Earnings
$950
Median Rent
$97,800
Median Home Value
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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?
Duplex - Two leased residences include appliances, laundry equipment, and designated parking behind the building.
Where is this duplex located?
The property is located at 22 Mello Ave Dayton, OH.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two one‑bedroom units within a 1,161‑square‑foot duplex; Each unit is approximately 580 square feet; One‑story brick construction completed in 1960
