Listing Agency: Ring Real Estate Co., Georgeto Show Phone

Listed By: Christopher T Stratton Show Phone

Source: Exprealty

Added: Sep 28 Changed: Oct 1 Last Checked: Oct 5 at 8:59PM

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Investment Insights

Based on property information with market context.

This 3,438-square-foot apartment property contains six units and a detached garage, with off-street parking. Apartment 5 has been remodeled, and select units received new cabinetry and flooring. Interior work also included painting and drywall repairs throughout the building. New decks, exterior improvements, gravel, lighting, and ceiling fans are among the other updates.

Building systems have been updated with a new roof, replacement exterior siding, conversion to gas heating, and new plumbing and water heaters. HVAC units were installed in four apartments, with a hotel-style unit serving the studio.

Key Highlights

• Six apartment units in a 3,438‑square‑foot building
• Apartment 5 has been completely remodeled
• Detached garage and off‑street parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,139

Cap Rate

2.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$282,780 $282.8K

Cap Rate 7%

$201,986 $202.0K

Cap Rate 9%

$157,100 $157.1K

Market Conditions

NOI Build-Up for 3,438 SF

Gross rent

$27.6K $8.04/SF

− Vacancy

−$1.9K −$0.56/SF

EGI

$25.7K $7.48/SF

− OpEx

−$11.6K −$3.36/SF

NOI

$14.1K $4.11/SF

Area

Brown County, OH

Vacancy

7.00%

Lease Rate

$8.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$282,780

Cap Rate 7%

$201,986

Cap Rate 9%

$157,100

Alternative Uses

Best Use

Apartment 5plus

$202.0K

$176.7K – $235.7K (±1% cap)

NOI $14,139 @ 7.0% cap · market cap 2.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$679.8K

$594.8K – $793.1K (±1% cap)

NOI $47,583 @ 7.0% cap · market cap 10.02%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Plumbing Service Bakery Big Box & Wholesale Store Garden Center HVAC Service

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

Lease Details

6

Residential units

Location Intelligence

Trade Area within ½ mile

354

Businesses Nearby

Explore this area Business Placement

Demographics for 45121, OH

8,927

Population

4,243

Households

2.1

Avg Household Size

43

Median Age

19%

College-Educated

86%

High-School Grad

106.8 sq mi

ZIP Area

84

Density / Sq Mi

$57,274

Median Household Income

$34,907

Median Earnings

$680

Median Rent

$150,800

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 apartment buildings 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?

Apartment building - Recent building work includes system upgrades, remodeled interiors, off-street parking, and a detached garage.

Where is this apartment building located?

The property is located at 306 S Green St Georgetown, OH.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Six apartment units in a 3,438‑square‑foot building; Apartment 5 has been completely remodeled; Detached garage and off‑street parking