Ranch Duplex with Attached
For Sale
$398,500
Pending
2380-2384 Deerfield Drive, Grove City, OH 43123
Ranch duplex with two 2-bed, 1-bath units, occupied by long-term tenants and featuring attached garages and private porches.
Property Size1,956 SF
Days on Market89
Property Features for 2380-2384 Deerfield Drive
General Information
Standard status
Pending
Size
1,956 SF
Property subtype
Multi-Family / Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,053
Amenities
Central Air
Forced Air
Gas
Yes
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
e-Merge Real Estate
Listed By:
Anthony R Diastello · License #2014002418
(614) 779-5732
Source:
Compass
Added: Jun 9
Changed: Aug 8
Last Checked: Jul 24 at 12:36PM
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 e-Merge Real Estate
Investment Insights
Based on property information with market context.
This duplex consists of two ranch-style units, each offering 2 bedrooms and 1 bathroom. The property is one-story and includes a functional layout with in-unit amenities such as air conditioning, ceiling fans, updated bathrooms, modern fixtures, and dishwashers. Each side also features a basement with vinyl vented windows, along with private entrance porches and concrete patios described as less than one year old. Attached garages support tenant convenience, and ongoing updates and maintenance have helped preserve the property’s condition.
The duplex is located at 2380-2384 Deerfield Drive in Grove City, Ohio, within the South Western City School District. The residences are occupied by established, long-term tenants.
Both units are described as well maintained and equipped with features intended to attract and retain renters, with residents on both sides also enjoying green space.
The duplex is located at 2380-2384 Deerfield Drive in Grove City, Ohio, within the South Western City School District. The residences are occupied by established, long-term tenants.
Both units are described as well maintained and equipped with features intended to attract and retain renters, with residents on both sides also enjoying green space.
Key Highlights
- Ranch duplex built in 1997 with two 2‑bed, 1‑bath units (one on each side)
- Central air and forced‑air gas heating in the duplex (Has Cooling: Yes)
- Occupied by long‑term tenants
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
$20,739
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
5.20%
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%
$414,780
$414.8K
Cap Rate 7%
$296,271
$296.3K
Cap Rate 9%
$230,433
$230.4K
Market Conditions
NOI Build-Up for 1,956 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
$31.7K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$29.6K $15.15/SF
− OpEx
−$8.9K −$4.54/SF
NOI
$20.7K $10.60/SF
Area
Franklin 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%
$414,780
Cap Rate 7%
$296,271
Cap Rate 9%
$230,433
Alternative Uses
Best Use
Multifamily LT 5
$296.3K
$259.2K – $345.7K
NOI $20,739 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$288.8K
$252.7K – $336.9K
NOI $20,213 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$398.8K
$348.9K – $465.2K
NOI $27,914 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 43123, OH
66,188
Population
27,876
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
91%
High-School Grad
59.7 sq mi
ZIP Area
1,109
Density / Sq Mi
$87,883
Median Household Income
$49,747
Median Earnings
$1,279
Median Rent
$262,400
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 - Ranch duplex with two 2-bed, 1-bath units, occupied by long-term tenants and featuring attached garages and private porches.
Where is this duplex located?
The property is located at 2380-2384 Deerfield Drive Grove City, OH.
What is the asking price?
The asking price for this property is $398,500.
What are key features of this property?
This property features: Ranch duplex built in 1997 with two 2‑bed, 1‑bath units (one on each side); Central air and forced‑air gas heating in the duplex (Has Cooling: Yes); Occupied by long‑term tenants
