Building Details

Year Built 1964

Listing Agency: Garden Gate Realty Inc. Show Phone

Listed By: Streetlight Realty Show Phone

Source: Streetlightrealtors

Added: Aug 26 Changed: Oct 16 Last Checked: Oct 16 at 9:13AM

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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 Garden Gate Realty Inc.

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Investment Insights

Based on property information with market context.

This Dayton apartment property contains six units: four two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. The building offers 3,228 square feet and was constructed in 1964. Tenants are responsible for heat and electric, while the owner covers water and trash service.

Roofing, gutters, and downspouts were replaced in 2019. The property includes a private off-street parking lot, with additional street parking available. Located at 3936 Lori Sue Ave in Dayton, Ohio, the apartments are near shopping, restaurants, and public transportation.

Key Highlights

• Six apartments: four 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
• 3,228 SF apartment property built in 1964
• Roof, gutters, and downspouts redone in 2019

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,709

Cap Rate

8.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$634,180 $634.2K

Cap Rate 7%

$452,986 $453.0K

Cap Rate 9%

$352,322 $352.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,228 SF

Gross rent

$61.2K $18.96/SF

− Vacancy

−$3.5K −$1.10/SF

EGI

$57.7K $17.86/SF

− OpEx

−$25.9K −$8.04/SF

NOI

$31.7K $9.82/SF

Area

Dayton, OH

Vacancy

5.80%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$634,180

Cap Rate 7%

$452,986

Cap Rate 9%

$352,322

Alternative Uses

Best Use

Apartment 5plus

$453.0K

$396.4K – $528.5K (±1% cap)

NOI $31,709 @ 7.0% cap · market cap 8.07%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$688.0K

$602.0K – $802.6K (±1% cap)

NOI $48,157 @ 7.0% cap · market cap 12.25%

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

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Dental Office Spa & Massage Center Building Supply Gym & Fitness Center Hair Salon

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

6

Residential units

Location Intelligence

Trade Area within ½ mile

240

Businesses Nearby

Explore this area Business Placement

Demographics for 45406, OH

20,622

Population

10,695

Households

1.9

Avg Household Size

39

Median Age

21%

College-Educated

88%

High-School Grad

5.0 sq mi

ZIP Area

4,124

Density / Sq Mi

$43,241

Median Household Income

$35,344

Median Earnings

$879

Median Rent

$82,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Multi-unit property with updated roofing and tenant-paid heat and electric.

Where is this apartment building located?

The property is located at 3936 Lori Sue Ave Dayton, OH.

What is the asking price?

The asking price for this property is $393,000.

What are key features of this property?

This property features: Six apartments: four 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; 3,228 SF apartment property built in 1964; Roof, gutters, and downspouts redone in 2019