Brick Duplex with Full
For Sale
$190,000
2657 117th St, Toledo, OH 43611
Each residence contains two bedrooms, separate basement storage, and one unit is rented month to month.
Property Size2,052 SF
Price / SF$92.59
Days on Market25
Property Features for 2657 117th St
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
basement storage
enclosed porch
Building Details
Construction
brick
Listing Agency:
The Danberry Co
(419) 340-7368
Listed By:
John A. Fesh · License #Sal335608
(419) 340-7368
Source:
Exprealty
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 21 at 11:03AM
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 The Danberry Co
Investment Insights
Based on property information with market context.
This 2,052-square-foot brick duplex contains two two-bedroom residences. The full basement is divided to provide storage for each unit, and an enclosed porch is positioned off the garage. Recent improvements include a newer roof and awnings.
The upper residence is available to show, while the lower unit is occupied under a month-to-month rental arrangement. The property is located in Point Place near a library and parks.
The upper residence is available to show, while the lower unit is occupied under a month-to-month rental arrangement. The property is located in Point Place near a library and parks.
Key Highlights
- 2,052‑square‑foot brick duplex with two two‑bedroom units
- Full basement divided with storage assigned to each unit
- Newer roof and awnings
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
$17,292
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
9.10%
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%
$345,840
$345.8K
Cap Rate 7%
$247,029
$247.0K
Cap Rate 9%
$192,133
$192.1K
Market Conditions
NOI Build-Up for 2,052 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
$32.7K $15.96/SF
− Vacancy
−$1.3K −$0.64/SF
EGI
$31.4K $15.32/SF
− OpEx
−$14.1K −$6.89/SF
NOI
$17.3K $8.43/SF
Area
Toledo, OH
Vacancy
4.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$345,840
Cap Rate 7%
$247,029
Cap Rate 9%
$192,133
Alternative Uses
Best Use
Multifamily LT 5
$267.7K
$234.2K – $312.3K
NOI $18,737 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$247.0K
$216.2K – $288.2K
NOI $17,292 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$341.5K
$298.8K – $398.4K
NOI $23,905 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 43611, OH
18,505
Population
8,854
Households
2.1
Avg Household Size
41
Median Age
16%
College-Educated
88%
High-School Grad
7.3 sq mi
ZIP Area
2,535
Density / Sq Mi
$58,135
Median Household Income
$36,185
Median Earnings
$832
Median Rent
$117,400
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 - Each residence contains two bedrooms, separate basement storage, and one unit is rented month to month.
Where is this duplex located?
The property is located at 2657 117th St Toledo, OH.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 2,052‑square‑foot brick duplex with two two‑bedroom units; Full basement divided with storage assigned to each unit; Newer roof and awnings
