Listing Agency: eXp Realty O***@exprealty.net Show Phone

Listed By: Cheryl Buettell Show Phone

Source: Exprealty

Added: Aug 20 Changed: Oct 5 Last Checked: Oct 15 at 4:26AM

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Investment Insights

Based on property information with market context.

This renovated triplex contains three distinct rental units with varied layouts. The 1,800-square-foot main-floor residence includes three bedrooms, two full baths, a dining room, large living room, kitchen, and office or storage area. The upper unit offers two bedrooms, one bath, an eat-in kitchen, flex space, and living room. A rear unit adds another two-bedroom, one-bath layout with an oversized living area, kitchen, and pantry. Each unit has private laundry facilities.

The property is located in Cedarville near Cedarville University and is leased through May 2027. Off-alley parking accommodates up to 12 vehicles, and the property also includes a detached one-car garage. Interior and exterior updates have been completed throughout.

Key Highlights

• Three rental units with distinct floor plans
• 1,800‑square‑foot main‑floor unit with 3 bedrooms and 2 full baths
• All units include private laundry facilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,428

Cap Rate

8.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,028,560 $1.0M

Cap Rate 7%

$734,686 $734.7K

Cap Rate 9%

$571,422 $571.4K

Market Conditions

NOI Build-Up for 5,556 SF

Gross rent

$76.7K $13.80/SF

− Vacancy

−$3.2K −$0.58/SF

EGI

$73.5K $13.22/SF

− OpEx

−$22.0K −$3.97/SF

NOI

$51.4K $9.26/SF

Area

Greene County, OH

Vacancy

4.18%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,028,560

Cap Rate 7%

$734,686

Cap Rate 9%

$571,422

Alternative Uses

Best Use

Multifamily LT 5

$734.7K

$642.9K – $857.1K (±1% cap)

NOI $51,428 @ 7.0% cap · market cap 8.23%

Second Best

Apartment 5plus

$676.1K

$591.6K – $788.8K (±1% cap)

NOI $47,326 @ 7.0% cap · market cap 7.57%

Theoretical Best

Office B

$1.04M

$914.1K – $1.22M (±1% cap)

NOI $73,127 @ 7.0% cap · market cap 11.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Massie Creek Antiques Home Decor Store

Suggested Use

Top Pick Law Firm Bakery Furniture & Home Goods Garden Center Nail Salon Auto Repair Shop

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

3

Residential units

Location Intelligence

Trade Area within ½ mile

212

Businesses Nearby

Explore this area Business Placement

Demographics for 45314, OH

6,261

Population

1,460

Households

4.3

Avg Household Size

25

Median Age

47%

College-Educated

96%

High-School Grad

51.4 sq mi

ZIP Area

122

Density / Sq Mi

$87,366

Median Household Income

$10,056

Median Earnings

$829

Median Rent

$276,900

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 triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Three-unit property near Cedarville University with updated interiors, individual laundry, and off-alley parking.

Where is this triplex located?

The property is located at 33 Xenia Ave Cedarville, OH.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Three rental units with distinct floor plans; 1,800‑square‑foot main‑floor unit with 3 bedrooms and 2 full baths; All units include private laundry facilities