Duplex with Two-Car
For Sale
$285,000
Pending
39 S West Street, Norwalk, OH 44857
MULTI_FAMILY - Norwalk, OH
Property Size3,104 SF
Lot Size0.51 Acres
Days on Market46
Property Features for 39 S West Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 6, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4
Parking features
Garage, Open
Appliances
Range, Refrigerator
Elementary school district
Norwalk CSD - 3904
Middle school district
Norwalk CSD - 3904
High school district
Norwalk CSD - 3904
Directions
W Main St to S West St
Standard status
Pending
APN
33-0110-02-011-0100
Size
3,104 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 40 E PT OF S SD
Tax Annual Amount
2037
Legal Description
LOT 40 E PT OF S SD
Utilities
Sewer type
Septic Tank, Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
fireplace
in-unit laundry
patio areas
backyard
Building Details
Year built
1960
Floors in Building
2
Building materials
Brick, VinylSiding, WoodSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Kelsey M Wozniak · License #2015003539
(330) 690-0255
Added: Jun 25
Changed: Aug 1
Last Checked: Aug 9 at 6:06PM
MLS# 5220034
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex configured across two levels, each with its own living room, dining area, and kitchen. The property offers 5 bedrooms and 3 bathrooms, with an interior staircase currently connecting both levels for multigenerational living or an expansive single-family layout. If a true duplex setup is preferred, the staircase can be closed off to create two separate living spaces.
The lower unit includes knotty pine paneling, a sitting room, and a fireplace, while the upper unit provides a traditional layout with spacious bedrooms, a full bath, and in-unit laundry. Outside, the half-acre lot includes multiple patio areas and a large backyard.
The home is supported by natural gas heating and central air cooling. Construction includes brick with vinyl siding and wood siding. Water is public, and sewer includes both a septic tank and public sewer. Parking features a two-car attached garage, an additional two-car detached garage, and open parking/driveway space, providing flexibility for residents and guests.
The lower unit includes knotty pine paneling, a sitting room, and a fireplace, while the upper unit provides a traditional layout with spacious bedrooms, a full bath, and in-unit laundry. Outside, the half-acre lot includes multiple patio areas and a large backyard.
The home is supported by natural gas heating and central air cooling. Construction includes brick with vinyl siding and wood siding. Water is public, and sewer includes both a septic tank and public sewer. Parking features a two-car attached garage, an additional two-car detached garage, and open parking/driveway space, providing flexibility for residents and guests.
Key Highlights
- 0.514‑acre lot with multiple patio areas and a large backyard
- 3,104 SF duplex layout with 5 bedrooms and 3 bathrooms
- Two levels each feature a living room, dining area, and kitchen
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
$25,067
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
8.80%
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%
$501,340
$501.3K
Cap Rate 7%
$358,100
$358.1K
Cap Rate 9%
$278,522
$278.5K
Market Conditions
NOI Build-Up for 3,104 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
$49.5K $15.96/SF
− Vacancy
−$4.0K −$1.28/SF
EGI
$45.6K $14.68/SF
− OpEx
−$20.5K −$6.61/SF
NOI
$25.1K $8.08/SF
Area
Huron County, OH
Vacancy
8.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$501,340
Cap Rate 7%
$358,100
Cap Rate 9%
$278,522
Alternative Uses
Best Use
Multifamily LT 5
$388.9K
$340.3K – $453.7K
NOI $27,224 @ 7.0% cap · market cap 9.55%
Second Best
Apartment 5plus
$358.1K
$313.3K – $417.8K
NOI $25,067 @ 7.0% cap · market cap 8.80%
Theoretical Best
Specialty Retail
$645.1K
$564.5K – $752.7K
NOI $45,160 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 44857, OH
23,619
Population
10,579
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
93%
High-School Grad
81.6 sq mi
ZIP Area
289
Density / Sq Mi
$62,227
Median Household Income
$42,100
Median Earnings
$795
Median Rent
$170,400
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 - Duplex home with central air, in-unit laundry, and flexible layout featuring two garages and a shared stairway connection option.
Where is this duplex located?
The property is located at 39 S West Street Norwalk, OH.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 0.514‑acre lot with multiple patio areas and a large backyard; 3,104 SF duplex layout with 5 bedrooms and 3 bathrooms; Two levels each feature a living room, dining area, and kitchen
