Brick
New
For Sale
$174,900
356-358 Morris Dr, Fairborn, OH 45324
Two occupied residences feature updated interiors, separate tenant storage areas, and off-street parking.
Property Size1,584 SF
Price / SF$110.42
Days on Market5
Property Features for 356-358 Morris Dr
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$21,000
Building Details
Year Built
1944
Buildings
1
Construction
all-brick
Listing Agency:
BHHS Professional Realty
(937) 547-0064
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Oct 11
Changed: Oct 15
Last Checked: Oct 14 at 10:37PM
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 BHHS Professional Realty
Investment Insights
Based on property information with market context.
This 1,584-square-foot duplex contains two tenant-occupied residences, each arranged with two bedrooms and one full bathroom. Interior work includes LVP flooring, updated kitchens, refreshed bathrooms, and neutral finishes. Both units have central air conditioning and forced-air heat. The 1944-built property has an all-brick exterior, off-street parking, and a full unfinished basement with separate storage areas for the residents. A new dimensional-shingle roof and replacement gutters are among the exterior improvements.
The tenants pay their own utilities. The two-unit configuration and existing occupancy provide a clear overview of the property's current residential rental setup.
The tenants pay their own utilities. The two-unit configuration and existing occupancy provide a clear overview of the property's current residential rental setup.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- 1,584 square feet of living space
- Both units are tenant‑occupied; tenants pay all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,662
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,240
$293.2K
Cap Rate 7%
$209,457
$209.5K
Cap Rate 9%
$162,911
$162.9K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$21.9K $13.80/SF
− Vacancy
−$914 −$0.58/SF
EGI
$20.9K $13.22/SF
− OpEx
−$6.3K −$3.97/SF
NOI
$14.7K $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%
$293,240
Cap Rate 7%
$209,457
Cap Rate 9%
$162,911
Alternative Uses
Best Use
Multifamily LT 5
$209.5K
$183.3K – $244.4K
NOI $14,662 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$192.7K
$168.7K – $224.9K
NOI $13,492 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office B
$297.8K
$260.6K – $347.5K
NOI $20,848 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 45324, OH
40,449
Population
19,729
Households
2.1
Avg Household Size
34
Median Age
30%
College-Educated
92%
High-School Grad
33.1 sq mi
ZIP Area
1,222
Density / Sq Mi
$59,861
Median Household Income
$37,348
Median Earnings
$989
Median Rent
$177,700
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 occupied residences feature updated interiors, separate tenant storage areas, and off-street parking.
Where is this duplex located?
The property is located at 356-358 Morris Dr Fairborn, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; 1,584 square feet of living space; Both units are tenant‑occupied; tenants pay all utilities
