Two-Unit Duplex with Detached
For Sale
$275,000
320 Pleasant St, Lebanon, OH
Duplex offers shared common space, laundry, on-site parking, and a separate detached garage.
Property Size2,402 SF
Price / SF$114.49
Days on Market43
Property Features for 320 Pleasant St
General Information
Standard status
Active
Size
2,402 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
common area
laundry
detached garage
Listing Agency:
Keller Williams Advisors
(513) 535-7215
Listed By:
John Alley
(513) 535-7215
Source:
Exprealty
Added: Jul 10
Changed: Aug 20
Last Checked: Aug 20 at 11:19AM
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 Keller Williams Advisors
Investment Insights
Based on property information with market context.
This 2,402-square-foot duplex at 320 Pleasant St includes two residential units: one with two bedrooms and another with one bedroom. The property also provides shared common space, shared laundry, a detached garage, and on-site parking.
The duplex is near downtown Lebanon, with restaurants and shopping nearby. Its configuration combines distinct unit layouts with shared practical amenities in a single residential property.
The duplex is near downtown Lebanon, with restaurants and shopping nearby. Its configuration combines distinct unit layouts with shared practical amenities in a single residential property.
Key Highlights
- 2,402‑square‑foot duplex at 320 Pleasant St
- One 2‑bedroom unit and one 1‑bedroom unit
- Shared common area and laundry
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
$22,190
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
8.07%
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%
$443,800
$443.8K
Cap Rate 7%
$317,000
$317.0K
Cap Rate 9%
$246,556
$246.6K
Market Conditions
NOI Build-Up for 2,402 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
$33.7K $14.04/SF
− Vacancy
−$2.0K −$0.84/SF
EGI
$31.7K $13.20/SF
− OpEx
−$9.5K −$3.96/SF
NOI
$22.2K $9.24/SF
Area
Warren County, OH
Vacancy
6.00%
Lease Rate
$14.04 /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%
$443,800
Cap Rate 7%
$317,000
Cap Rate 9%
$246,556
Alternative Uses
Best Use
Multifamily LT 5
$317.0K
$277.4K – $369.8K
NOI $22,190 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$283.4K
$248.0K – $330.7K
NOI $19,841 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$536.5K
$469.5K – $626.0K
NOI $37,557 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Explore this area
Business Placement
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 - Duplex offers shared common space, laundry, on-site parking, and a separate detached garage.
Where is this duplex located?
The property is located at 320 Pleasant St Lebanon, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,402‑square‑foot duplex at 320 Pleasant St; One 2‑bedroom unit and one 1‑bedroom unit; Shared common area and laundry
