Apartment Building with Private
New
For Sale
$393,000
3936 Lori Sue Ave, Dayton, OH 45406
Multi-unit property with updated roofing and tenant-paid heat and electric.
Property Size3,228 SF
Price / SF$121.75
Days on Market7
Property Features for 3936 Lori Sue Ave
General Information
Standard status
Active
Size
3,228 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Building Details
Year Built
1964
Listing Agency:
BHHS Professional Realty
(937) 626-4181
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Aug 26
Changed: Aug 31
Last Checked: Sep 1 at 6:19PM
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 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.
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 = 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
$31,709
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
8.07%
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%
$634,180
$634.2K
Cap Rate 7%
$452,986
$453.0K
Cap Rate 9%
$352,322
$352.3K
Market Conditions
NOI Build-Up for 3,228 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
$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 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%
$634,180
Cap Rate 7%
$452,986
Cap Rate 9%
$352,322
Alternative Uses
Best Use
Apartment 5plus
$453.0K
$396.4K – $528.5K
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
NOI $48,157 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
