Duplex with New Metal
New
For Sale
$199,900
315 Elm St, Findlay, OH 45840
One-bedroom unit is leased, while the second unit offers occupancy flexibility.
Property Size1,840 SF
Price / SF$108.64
Days on Market7
Property Features for 315 Elm St
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Residential Income
Listing Agency:
The Property Collective
(419) 306-6015
Listed By:
Blaine Wells
(419) 722-6769
Source:
Exprealty
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 1:45PM
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 The Property Collective
Investment Insights
Based on property information with market context.
This 1,840-square-foot duplex includes a leased one-bedroom unit and a second unit that can support owner occupancy or additional leasing. A new metal roof covers the rear portion of the property, providing a recent physical improvement.
The property is located in Findlay’s historic south end, near local schools, downtown Findlay, shopping, dining, and everyday amenities. Its two-unit layout accommodates several ownership approaches, including living in one unit while leasing the other or operating both as rental units.
The property is located in Findlay’s historic south end, near local schools, downtown Findlay, shopping, dining, and everyday amenities. Its two-unit layout accommodates several ownership approaches, including living in one unit while leasing the other or operating both as rental units.
Key Highlights
- 1,840‑square‑foot duplex in Findlay’s historic south end
- One‑bedroom unit is currently leased
- Second unit supports owner occupancy or additional leasing
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
$16,869
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
8.44%
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%
$337,380
$337.4K
Cap Rate 7%
$240,986
$241.0K
Cap Rate 9%
$187,433
$187.4K
Market Conditions
NOI Build-Up for 1,840 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
$32.0K $17.40/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$30.7K $16.67/SF
− OpEx
−$13.8K −$7.50/SF
NOI
$16.9K $9.17/SF
Area
Hancock County, OH
Vacancy
4.20%
Lease Rate
$17.40 /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%
$337,380
Cap Rate 7%
$240,986
Cap Rate 9%
$187,433
Alternative Uses
Best Use
Multifamily LT 5
$269.9K
$236.2K – $314.9K
NOI $18,893 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.2K
NOI $16,869 @ 7.0% cap · market cap 8.44%
Theoretical Best
Specialty Retail
$513.2K
$449.1K – $598.8K
NOI $35,926 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Explore this area
Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - One-bedroom unit is leased, while the second unit offers occupancy flexibility.
Where is this duplex located?
The property is located at 315 Elm St Findlay, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,840‑square‑foot duplex in Findlay’s historic south end; One‑bedroom unit is currently leased; Second unit supports owner occupancy or additional leasing
