Four-Unit Residential Income
389-391 East 2nd Street Chillicothe, OH 45601
389-391 East 2nd Street, Chillicothe, OH, 45601
$215,000
For Sale
$215,000
Well-maintained four 1-bedroom, 1-bath units with a shared front porch in Chillicothe, Ohio.
Property Size3,020 SF
Price / SF$71.19
Days on Market90
Property Features for 389-391 East 2nd Street
General Information
- Standard status
- Active
- Size
- 3,020 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1910
Listing agency
e-Merge Real Estate Excellence
(740) 207-7556
Listed by
Dawn Renee Ingram · License #2024001747
(740) 207-7556
Source
Compass
Added: Apr 24 Updated: Jul 21 at 7:22AM Checked: Jul 21 at 7:22AM
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 e-Merge Real Estate Excellence
Investment Insights
Based on property information with market context.
This well-maintained multi-family duplex configuration offers four total 1-bedroom, 1-bath units. The property’s units are laid out to support long-term tenancy, and the building includes a shared front porch. It has been owned and cared for by the same landlord for the past 20 years.
The property is located in the 45601 area of Chillicothe, Ohio, close to restaurants on Bridge Street.
The building is presented as turnkey for ownership, with an emphasis on consistent maintenance and low-maintenance management.
The property is located in the 45601 area of Chillicothe, Ohio, close to restaurants on Bridge Street.
The building is presented as turnkey for ownership, with an emphasis on consistent maintenance and low-maintenance management.
Key Highlights
- Duplex built in 1910 with 4 total 1‑bedroom, 1‑bath units
- Total building size of 3,020 sq ft
- Units designed with thoughtful layouts for long‑term tenancy
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.2k | $12.00 |
| − Vacancy | −$2.1k | −$0.70 |
| EGI | $34.1k | $11.30 |
| − OpEx | −$15.4k | −$5.09 |
| NOI | $18.8k | $6.22 |
3,020 SF · lease $12.00/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$288.0K
$252.0K – $336.0K
NOI $20,161 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$268.2K
$234.7K – $312.9K
NOI $18,776 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$569.9K
$498.7K – $664.9K
NOI $39,893 @ 7.0% cap · market cap 18.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained four 1-bedroom, 1-bath units with a shared front porch in Chillicothe, Ohio.
Where is this quadplex located?
The property is located at 389-391 East 2nd Street Chillicothe, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Duplex built in 1910 with 4 total 1‑bedroom, 1‑bath units; Total building size of 3,020 sq ft; Units designed with thoughtful layouts for long‑term tenancy
