Listing Agency: Century 21 Bolte Real Estate - Bellevue p***@phillipbolte.com Show Phone

Listed By: Vivian Benedict Show Phone

Source: Exprealty

Added: Sep 11 Changed: Sep 30 Last Checked: Sep 30 at 3:20PM

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Investment Insights

Based on property information with market context.

This single-story triplex contains three units totaling 1,680 square feet. Each residence has two bedrooms, one full bathroom, an open kitchen and living area, and a separate laundry room. Interior features include LVP flooring in the kitchen-living areas, refreshed paint, and a range in each unit. Each bathroom has newer vanities and toilets, and each unit has its own water heater.

The property has concrete parking for 4+ vehicles and separate electric meters at the rear. The roof is approximately 10 years old; other improvements include newer attic vents and insulation, plus exterior lighting. A new water heater is noted in the left unit for '26.

Key Highlights

• Three‑unit property with 1,680 square feet total
• Each unit has 2 bedrooms and 1 full bathroom
• Separate laundry room and water heater in every unit

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

$14,735

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

8.93%

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%

$294,700 $294.7K

Cap Rate 7%

$210,500 $210.5K

Cap Rate 9%

$163,722 $163.7K

Market Conditions

NOI Build-Up for 1,680 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

$22.8K $13.56/SF

− Vacancy

−$1.7K −$1.03/SF

EGI

$21.0K $12.53/SF

− OpEx

−$6.3K −$3.76/SF

NOI

$14.7K $8.77/SF

Area

Huron County, OH

Vacancy

7.60%

Lease Rate

$13.56 /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%

$294,700

Cap Rate 7%

$210,500

Cap Rate 9%

$163,722

Alternative Uses

Best Use

Multifamily LT 5

$210.5K

$184.2K – $245.6K (±1% cap)

NOI $14,735 @ 7.0% cap · market cap 8.93%

Second Best

Apartment 5plus

$193.8K

$169.6K – $226.1K (±1% cap)

NOI $13,567 @ 7.0% cap · market cap 8.22%

Theoretical Best

Specialty Retail

$349.2K

$305.5K – $407.4K (±1% cap)

NOI $24,442 @ 7.0% cap · market cap 14.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Dental Office HVAC Service Electrical Service Real Estate Agency Plumbing Service Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

177

Businesses Nearby

Explore this area Business Placement

Demographics for 44890, OH

10,759

Population

4,705

Households

2.3

Avg Household Size

41

Median Age

16%

College-Educated

90%

High-School Grad

84.7 sq mi

ZIP Area

127

Density / Sq Mi

$64,971

Median Household Income

$39,490

Median Earnings

$834

Median Rent

$136,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three vacant residences feature separate laundry rooms and open kitchen-living areas.

Where is this triplex located?

The property is located at 26 Hayes St Willard, OH.

What is the asking price?

The asking price for this property is $165,000.

What are key features of this property?

This property features: Three‑unit property with 1,680 square feet total; Each unit has 2 bedrooms and 1 full bathroom; Separate laundry room and water heater in every unit