Duplex Rental
For Sale
$159,900
3693 Lakepointe Dr, Northwood, OH 43615
Both residences are currently occupied, with roof and HVAC updates completed.
Property Size1,709 SF
Price / SF$93.56
Days on Market12
Property Features for 3693 Lakepointe Dr
General Information
Standard status
Active
Size
1,709 SF
Property subtype
Residential Income
Additional Details
Asking Price
$159,900
Multifamily Units
2
Building Details
Buildings
2
Listing Agency:
Serenity Realty LLC
(419) 887-9006
Listed By:
Isabella Heilner
(419) 386-6587
Source:
Exprealty
Added: Sep 25
Changed: Oct 3
Last Checked: Oct 5 at 10:26PM
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 Serenity Realty LLC
Investment Insights
Based on property information with market context.
Offered together, the two Lakepointe Drive residences form a rental property package in Northwood, Ohio. Both units are currently rented. Improvements include a new roof, updated HVAC, and additional work within each unit.
The properties are identified as 3692 and 3693 Lakepointe Dr and are being sold as one package.
The properties are identified as 3692 and 3693 Lakepointe Dr and are being sold as one package.
Key Highlights
- Two Lakepointe Drive properties offered as a package
- Both units are currently rented
- New roof and updated HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,762
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,240
$275.2K
Cap Rate 7%
$196,600
$196.6K
Cap Rate 9%
$152,911
$152.9K
Market Conditions
NOI Build-Up for 1,709 SF
Gross rent
$21.1K $12.36/SF
− Vacancy
−$1.5K −$0.86/SF
EGI
$19.7K $11.50/SF
− OpEx
−$5.9K −$3.45/SF
NOI
$13.8K $8.05/SF
Area
Lucas County, OH
Vacancy
6.93%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,240
Cap Rate 7%
$196,600
Cap Rate 9%
$152,911
Alternative Uses
Best Use
Multifamily LT 5
$196.6K
$172.0K – $229.4K
NOI $13,762 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$171.8K
$150.3K – $200.4K
NOI $12,024 @ 7.0% cap · market cap 7.52%
Theoretical Best
Specialty Retail
$312.8K
$273.7K – $364.9K
NOI $21,895 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 43615, OH
39,449
Population
19,620
Households
2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
16.5 sq mi
ZIP Area
2,391
Density / Sq Mi
$58,466
Median Household Income
$38,196
Median Earnings
$1,014
Median Rent
$137,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are currently occupied, with roof and HVAC updates completed.
Where is this duplex located?
The property is located at 3693 Lakepointe Dr Northwood, OH.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two Lakepointe Drive properties offered as a package; Both units are currently rented; New roof and updated HVAC
