Duplex with Attached
For Sale
$199,900
403 Clyburn Ave, Washington Court House, OH 43160
Two residential units provide different bedroom configurations, eat-in kitchens, and washer/dryer connections.
Property Size1,907 SF
Price / SF$104.82
Days on Market13
Property Features for 403 Clyburn Ave
General Information
Standard status
Active
Size
1,907 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2 Bedroom, 1 x 3 Bedroom
Multifamily Units
2
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
Adam Woodring, Mainstay Brokerage LLC
(614) 291-1200
Listed By:
Contact LOCAL Agent
(614) 291-1200
Source:
Realtyohio
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 26 at 12:53PM
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 Adam Woodring, Mainstay Brokerage LLC
Investment Insights
Based on property information with market context.
Built in 2004, this duplex contains 1,907 square feet across two residential units. The floor plan includes one 2-bedroom unit and one 3-bedroom unit, giving the property a varied unit mix. Both residences feature eat-in kitchens, washer/dryer hookups, and generously sized living rooms.
Attached garages serve the units, and the building occupies a corner lot at 403 Clyburn Ave in Washington Court House, Ohio. The property is positioned at the edge of town and has tenants in place who may wish to remain.
Attached garages serve the units, and the building occupies a corner lot at 403 Clyburn Ave in Washington Court House, Ohio. The property is positioned at the edge of town and has tenants in place who may wish to remain.
Key Highlights
- 1,907‑square‑foot duplex built in 2004
- Unit mix includes one 2‑bedroom residence and one 3‑bedroom residence
- Attached garages serve the property
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
$17,110
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
8.56%
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%
$342,200
$342.2K
Cap Rate 7%
$244,429
$244.4K
Cap Rate 9%
$190,111
$190.1K
Market Conditions
NOI Build-Up for 1,907 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
$26.3K $13.80/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$24.4K $12.82/SF
− OpEx
−$7.3K −$3.85/SF
NOI
$17.1K $8.97/SF
Area
Fayette County, OH
Vacancy
7.12%
Lease Rate
$13.80 /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%
$342,200
Cap Rate 7%
$244,429
Cap Rate 9%
$190,111
Alternative Uses
Best Use
Multifamily LT 5
$244.4K
$213.9K – $285.2K
NOI $17,110 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$216.2K
$189.2K – $252.3K
NOI $15,135 @ 7.0% cap · market cap 7.57%
Theoretical Best
Specialty Retail
$531.9K
$465.4K – $620.6K
NOI $37,234 @ 7.0% cap · market cap 18.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 43160, OH
22,117
Population
10,012
Households
2.2
Avg Household Size
41
Median Age
14%
College-Educated
86%
High-School Grad
213.2 sq mi
ZIP Area
104
Density / Sq Mi
$57,475
Median Household Income
$38,296
Median Earnings
$802
Median Rent
$162,200
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 - Two residential units provide different bedroom configurations, eat-in kitchens, and washer/dryer connections.
Where is this duplex located?
The property is located at 403 Clyburn Ave Washington Court House, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,907‑square‑foot duplex built in 2004; Unit mix includes one 2‑bedroom residence and one 3‑bedroom residence; Attached garages serve the property
