Duplex with
New
For Sale
$185,000
229 E State St, Newcomerstown, OH 43832
Each apartment has its own laundry area, and the property also includes a garage.
Property Size2,100 SF
Price / SF$88.10
Days on Market7
Property Features for 229 E State St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$644
Amenities
laundry area
Building Details
Buildings
1
Listing Agency:
RE/MAX Crossroads Properties
(330) 308-9278
Listed By:
Ron A Hickman · License #397385
(330) 204-1025
Source:
Exprealty
Added: Oct 18
Changed: Oct 23
Last Checked: Oct 23 at 4:37PM
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 RE/MAX Crossroads Properties
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Investment Insights
Based on property information with market context.
This 2,100-square-foot duplex is configured as two apartments. The ground-floor unit has three bedrooms and one bathroom; the upper unit has two bedrooms and one bathroom. Each apartment has a dedicated laundry area. A 36-by-32-foot garage is also part of the property, with new doors, siding, and roof.
Grocery stores, banks, and schools are nearby.
Grocery stores, banks, and schools are nearby.
Key Highlights
- Two‑apartment duplex with 3 bedrooms and 1 bathroom on the ground floor and 2 bedrooms and 1 bathroom upstairs
- Each apartment has its own laundry area
- 2,100 square feet of property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,385
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,700
$307.7K
Cap Rate 7%
$219,786
$219.8K
Cap Rate 9%
$170,944
$170.9K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$30.2K $14.40/SF
− Vacancy
−$2.3K −$1.08/SF
EGI
$28.0K $13.32/SF
− OpEx
−$12.6K −$5.99/SF
NOI
$15.4K $7.33/SF
Area
Tuscarawas County, OH
Vacancy
7.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,700
Cap Rate 7%
$219,786
Cap Rate 9%
$170,944
Alternative Uses
Best Use
Multifamily LT 5
$248.1K
$217.1K – $289.5K
NOI $17,367 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$219.8K
$192.3K – $256.4K
NOI $15,385 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$391.3K
$342.4K – $456.6K
NOI $27,393 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 43832, OH
7,341
Population
3,349
Households
2.2
Avg Household Size
43
Median Age
12%
College-Educated
84%
High-School Grad
101.0 sq mi
ZIP Area
73
Density / Sq Mi
$50,941
Median Household Income
$35,790
Median Earnings
$822
Median Rent
$121,900
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
Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has its own laundry area, and the property also includes a garage.
Where is this duplex located?
The property is located at 229 E State St Newcomerstown, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑apartment duplex with 3 bedrooms and 1 bathroom on the ground floor and 2 bedrooms and 1 bathroom upstairs; Each apartment has its own laundry area; 2,100 square feet of property
