Twin Single Home
For Sale
$359,900
Pending
289 Cobblestone Drive, Delaware, OH 43015
Each side features two bedrooms, one bathroom, and a one-car attached garage, near Sunnyview/PPG Park.
Property Size1,740 SF
Days on Market69
Property Features for 289 Cobblestone Drive
General Information
Standard status
Pending
Size
1,740 SF
Property subtype
Multi-Family / Twin Single
Net Operating Income
$19,209
Taxes and HOA fees
Annual Taxes
$4,728
Amenities
Other
Electric
Yes
Building Details
Year Built
1991
Listing Agency:
5812 Realty Group LLC
Listed By:
Christina Houghtaling · License #2020008294
(614) 783-9860
Source:
Compass
Added: Jul 1
Changed: Aug 8
Last Checked: Jul 24 at 12:18PM
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 5812 Realty Group LLC
Investment Insights
Based on property information with market context.
This twin single home duplex includes two separate sides, with each unit offering two bedrooms and one bathroom. Both sides are designed with generously sized living spaces and include a one-car attached garage.
The property is located just steps from Sunnyview/PPG Park. The seller notes this is the first time the home has entered the marketplace, originally built and maintained by the owners who have enjoyed positive income from the property since its inception.
For buyers seeking a low-maintenance residential income structure, the duplex configuration provides two mirrored residential spaces within one property offering.
The property is located just steps from Sunnyview/PPG Park. The seller notes this is the first time the home has entered the marketplace, originally built and maintained by the owners who have enjoyed positive income from the property since its inception.
For buyers seeking a low-maintenance residential income structure, the duplex configuration provides two mirrored residential spaces within one property offering.
Key Highlights
- Twin single home built in 1991 with electric heat and cooling available
- Each side offers 2 bedrooms and 1 bathroom
- Each side includes a one‑car attached garage
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
$15,130
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
4.20%
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%
$302,600
$302.6K
Cap Rate 7%
$216,143
$216.1K
Cap Rate 9%
$168,111
$168.1K
Market Conditions
NOI Build-Up for 1,740 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
$24.8K $14.28/SF
− Vacancy
−$3.2K −$1.86/SF
EGI
$21.6K $12.42/SF
− OpEx
−$6.5K −$3.73/SF
NOI
$15.1K $8.70/SF
Area
Delaware County, OH
Vacancy
13.01%
Lease Rate
$14.28 /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%
$302,600
Cap Rate 7%
$216,143
Cap Rate 9%
$168,111
Alternative Uses
Best Use
Multifamily LT 5
$216.1K
$189.1K – $252.2K
NOI $15,130 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 3.86%
Theoretical Best
Warehouse
$350.7K
$306.9K – $409.2K
NOI $24,549 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 43015, OH
57,563
Population
23,287
Households
2.5
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
127.9 sq mi
ZIP Area
450
Density / Sq Mi
$99,622
Median Household Income
$50,799
Median Earnings
$1,207
Median Rent
$311,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each side features two bedrooms, one bathroom, and a one-car attached garage, near Sunnyview/PPG Park.
Where is this duplex located?
The property is located at 289 Cobblestone Drive Delaware, OH.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Twin single home built in 1991 with electric heat and cooling available; Each side offers 2 bedrooms and 1 bathroom; Each side includes a one‑car attached garage
