Updated Brick
For Sale
$134,900
309-311 Leland Ave, Dayton, OH 45417
Two one-bedroom units feature separate utility services and refreshed interiors.
Property Size1,170 SF
Price / SF$115.30
Days on Market52
Property Features for 309-311 Leland Ave
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1956
Buildings
1
Construction
brick
Listing Agency:
Collins Real Estate Services
(937) 626-4181
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 10:54AM
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 Collins Real Estate Services
Investment Insights
Based on property information with market context.
This 1,170-square-foot duplex contains two approximately 600-square-foot residences, each arranged with one bedroom and one bathroom. The brick building was constructed in 1956 on a slab foundation, and both units have received interior updates including new flooring, refreshed kitchens, remodeled bathrooms, and fresh paint.
Separate gas, electric, and water services serve each residence, allowing utility responsibility to remain with the individual occupants. The property is located at 309-311 Leland Ave in Dayton, Ohio, and offers a two-unit residential income configuration with updated interiors and durable exterior construction.
Separate gas, electric, and water services serve each residence, allowing utility responsibility to remain with the individual occupants. The property is located at 309-311 Leland Ave in Dayton, Ohio, and offers a two-unit residential income configuration with updated interiors and durable exterior construction.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom in each residence
- 1,170 square feet across two approximately 600‑square‑foot units
- Separate gas, electric, and water services for each unit
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
$11,493
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
8.52%
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%
$229,860
$229.9K
Cap Rate 7%
$164,186
$164.2K
Cap Rate 9%
$127,700
$127.7K
Market Conditions
NOI Build-Up for 1,170 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
$22.2K $18.96/SF
− Vacancy
−$1.3K −$1.10/SF
EGI
$20.9K $17.86/SF
− OpEx
−$9.4K −$8.04/SF
NOI
$11.5K $9.82/SF
Area
Dayton, OH
Vacancy
5.80%
Lease Rate
$18.96 /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%
$229,860
Cap Rate 7%
$164,186
Cap Rate 9%
$127,700
Alternative Uses
Best Use
Multifamily LT 5
$179.1K
$156.7K – $209.0K
NOI $12,537 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$164.2K
$143.7K – $191.6K
NOI $11,493 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$249.4K
$218.2K – $290.9K
NOI $17,455 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 45417, OH
28,079
Population
14,987
Households
1.9
Avg Household Size
38
Median Age
12%
College-Educated
81%
High-School Grad
32.2 sq mi
ZIP Area
872
Density / Sq Mi
$35,027
Median Household Income
$29,550
Median Earnings
$861
Median Rent
$73,000
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 - Two one-bedroom units feature separate utility services and refreshed interiors.
Where is this duplex located?
The property is located at 309-311 Leland Ave Dayton, OH.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bathroom in each residence; 1,170 square feet across two approximately 600‑square‑foot units; Separate gas, electric, and water services for each unit
