Renovated Duplex with Shared
For Sale
$199,999
402 Bucyrus St, Crestline, OH 44827
The two units feature updated kitchens and bathrooms, with a shared laundry room.
Property Size2,692 SF
Price / SF$74.29
Days on Market18
Property Features for 402 Bucyrus St
General Information
Standard status
Active
Size
2,692 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,125
Amenities
shared laundry room
Building Details
Year Renovated
2025
Listing Agency:
Sluss Realty
(419) 529-3047
Listed By:
Marc Sleeckx
(419) 571-4909
Source:
Exprealty
Added: Aug 21
Changed: Sep 6
Last Checked: Sep 7 at 2:37PM
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 Sluss Realty
Investment Insights
Based on property information with market context.
This 2,692-square-foot duplex contains two separate living units and was extensively renovated in 2025. Improvements include new plumbing, electrical systems, windows, drywall, flooring, kitchens, and bathrooms. Each unit has a new furnace and central A/C system, while a shared laundry room serves both residences.
One unit is occupied, and the second is vacant. The vacant residence can accommodate a new tenant or an owner-occupant, while the existing occupancy provides an established rental arrangement. The property is located at 402 Bucyrus St in Crestline, Ohio.
One unit is occupied, and the second is vacant. The vacant residence can accommodate a new tenant or an owner-occupant, while the existing occupancy provides an established rental arrangement. The property is located at 402 Bucyrus St in Crestline, Ohio.
Key Highlights
- 2,692‑square‑foot duplex with two separate living units
- Extensively remodeled in 2025
- New plumbing, electrical, windows, drywall, flooring, kitchens, and bathrooms
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
$18,164
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
9.08%
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%
$363,280
$363.3K
Cap Rate 7%
$259,486
$259.5K
Cap Rate 9%
$201,822
$201.8K
Market Conditions
NOI Build-Up for 2,692 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
$27.5K $10.20/SF
− Vacancy
−$1.5K −$0.56/SF
EGI
$25.9K $9.64/SF
− OpEx
−$7.8K −$2.89/SF
NOI
$18.2K $6.75/SF
Area
Crawford County, OH
Vacancy
5.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$363,280
Cap Rate 7%
$259,486
Cap Rate 9%
$201,822
Alternative Uses
Best Use
Multifamily LT 5
$259.5K
$227.1K – $302.7K
NOI $18,164 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$241.1K
$211.0K – $281.3K
NOI $16,879 @ 7.0% cap · market cap 8.44%
Theoretical Best
Specialty Retail
$527.7K
$461.8K – $615.7K
NOI $36,940 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 44827, OH
6,973
Population
3,564
Households
2
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
48.5 sq mi
ZIP Area
144
Density / Sq Mi
$53,089
Median Household Income
$32,334
Median Earnings
$744
Median Rent
$111,800
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 - The two units feature updated kitchens and bathrooms, with a shared laundry room.
Where is this duplex located?
The property is located at 402 Bucyrus St Crestline, OH.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: 2,692‑square‑foot duplex with two separate living units; Extensively remodeled in 2025; New plumbing, electrical, windows, drywall, flooring, kitchens, and bathrooms
