Rebuilt Duplex with Modern
308-310 Reber Avenue, Lancaster, OH 43130
Completely rebuilt duplex featuring modern updates and separate living spaces.
Type:Multifamily
Property size:
1,600 SFPrice / SF:
$186/SF- Added:
- Mar 20, 2026
- Days on Market:
- 72
- Last Refresh:
- Mar 23 at 8:21 pm
Property Features for 308-310 Reber Avenue
General Information
- Standard status
- Active
- Size
- 1,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agent David T Darfus License #2005009485
Listing office DarfusRealEstate andManagement
Listing date Mar 20, 2026
Source Crexi
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 DarfusRealEstate andManagement
HighLights
- Complete renovation down to the foundation with new electric, plumbing, insulation, drywall, windows, siding, and roof.
- Two separate units offering potential for rental income or multi‑generational living.
- Off‑street parking for both units.
- Unit 308 features 1600 sq. ft., 3 bedrooms (including a finished 3rd floor), and 1.5 baths.
- First‑floor laundry in both units.
- Unit 310 includes gas heat and A/C.
Overview
This duplex property has been rebuilt from the foundation up, including new electric, plumbing, insulation, drywall, windows, siding, and roof as of October 25th. One side of the duplex, unit 308, features 1600 square feet of living space with three bedrooms, including a finished third floor, and one and a half bathrooms. It also includes first-floor laundry, electric heat, front and rear porches, and off-street parking. The other side, unit 310, offers 1100 square feet with two bedrooms, one and a half bathrooms, a full kitchen, first-floor laundry, front and rear porches, gas heat and air conditioning, and off-street parking.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.0k | $15.00 |
| − Vacancy | −$1.7k | −$1.07 |
| EGI | $22.3k | $13.93 |
| − OpEx | −$6.7k | −$4.18 |
| NOI | $15.6k | $9.75 |
1,600 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$222.9K
$195.1K – $260.1K
NOI $15,604 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$202.3K
$177.1K – $236.1K
NOI $14,164 @ 7.0% cap · market cap 4.74%
Theoretical Best
Warehouse
$322.5K
$282.2K – $376.2K
NOI $22,574 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Fairfield
- State
- Ohio
- Longitude
- -82.6062877
- Latitude
- 39.7249266
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Completely rebuilt duplex featuring modern updates and separate living spaces.
Where is this duplex located?
The property is located at 308-310 Reber Avenue Lancaster, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Complete renovation down to the foundation with new electric, plumbing, insulation, drywall, windows, siding, and roof.; Two separate units offering potential for rental income or multi‑generational living.; Off‑street parking for both units.
