Fully Furnished
For Sale
$209,000
Pending
306-306 Warren St, Dayton, OH 45402
Updated two-unit property in downtown Dayton with central air, off-street parking, and furnishings in place.
Property Size1,599 SF
Days on Market358
Property Features for 306-306 Warren St
General Information
Standard status
Pending
Size
1,599 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
central air
off-street parking
washer/dryer
Listing Agency:
Endurance Realty & Investments
(513) 325-4403
Listed By:
John Harrison · License #205244
(513) 325-4403
Source:
Exprealty
Added: Sep 9, 2025
Changed: Aug 30
Last Checked: Aug 31 at 6:42PM
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 Endurance Realty & Investments
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with two bedrooms and one bathroom. The property is offered furnished and includes washers, dryers, and other household essentials. Interior updates include new flooring and fresh paint, while building improvements include a newer roof, chimney crowns, and blown-in wall insulation. Central air supports year-round comfort, and off-street parking is provided.
Positioned in downtown Dayton, the property offers a flexible two-unit configuration with updated interiors and existing furnishings. The layout can accommodate separate residential occupancy across both units, with each residence providing a two-bedroom, one-bathroom arrangement.
Positioned in downtown Dayton, the property offers a flexible two-unit configuration with updated interiors and existing furnishings. The layout can accommodate separate residential occupancy across both units, with each residence providing a two-bedroom, one-bathroom arrangement.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- Fully furnished with washers, dryers, and household essentials
- New flooring and fresh paint throughout the updated interiors
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
$17,134
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
8.20%
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%
$342,680
$342.7K
Cap Rate 7%
$244,771
$244.8K
Cap Rate 9%
$190,378
$190.4K
Market Conditions
NOI Build-Up for 1,599 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
$25.9K $16.20/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$24.5K $15.31/SF
− OpEx
−$7.3K −$4.59/SF
NOI
$17.1K $10.72/SF
Area
Dayton, OH
Vacancy
5.51%
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%
$342,680
Cap Rate 7%
$244,771
Cap Rate 9%
$190,378
Alternative Uses
Best Use
Multifamily LT 5
$244.8K
$214.2K – $285.6K
NOI $17,134 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$224.4K
$196.3K – $261.8K
NOI $15,707 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$340.8K
$298.2K – $397.6K
NOI $23,855 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 45402, OH
10,735
Population
6,484
Households
1.7
Avg Household Size
37
Median Age
30%
College-Educated
88%
High-School Grad
4.4 sq mi
ZIP Area
2,440
Density / Sq Mi
$45,386
Median Household Income
$40,396
Median Earnings
$921
Median Rent
$105,900
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 - Updated two-unit property in downtown Dayton with central air, off-street parking, and furnishings in place.
Where is this duplex located?
The property is located at 306-306 Warren St Dayton, OH.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; Fully furnished with washers, dryers, and household essentials; New flooring and fresh paint throughout the updated interiors
