Four-Unit Mixed-Layout
For Sale
$425,000
403 W Main St, Lebanon, OH
Fully rented for several years, with a combination of one- and two-bedroom residences near downtown Lebanon.
Property Size1,747 SF
Price / SF$243.27
Days on Market28
Property Features for 403 W Main St
General Information
Standard status
Active
Size
1,747 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$51,900
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams Advisors
(513) 535-7215
Listed By:
John Alley
(513) 535-7215
Source:
Exprealty
Added: Jul 10
Changed: Aug 3
Last Checked: Aug 3 at 7:16AM
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 Keller Williams Advisors
Investment Insights
Based on property information with market context.
This four-unit quadplex offers a documented mix of two two-bedroom residences and two one-bedroom residences. The property has remained fully rented for several years, providing an established occupancy history across the unit mix.
Located at 403 W Main St in Lebanon, the property is near the downtown area, restaurants, and shopping. Its four-unit configuration and varied bedroom layouts provide a clear residential income-property profile.
Located at 403 W Main St in Lebanon, the property is near the downtown area, restaurants, and shopping. Its four-unit configuration and varied bedroom layouts provide a clear residential income-property profile.
Key Highlights
- Four‑unit quadplex with two two‑bedroom units and two one‑bedroom units
- Fully rented for several years
- Near downtown Lebanon, restaurants, and shopping
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.5k | $14.04 |
| − Vacancy | −$1.5k | −$0.84 |
| EGI | $23.1k | $13.20 |
| − OpEx | −$6.9k | −$3.96 |
| NOI | $16.1k | $9.24 |
1,747 SF · lease $14.04/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$230.6K
$201.7K – $269.0K
NOI $16,139 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$206.1K
$180.4K – $240.5K
NOI $14,430 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$390.2K
$341.4K – $455.3K
NOI $27,315 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented for several years, with a combination of one- and two-bedroom residences near downtown Lebanon.
Where is this quadplex located?
The property is located at 403 W Main St Lebanon, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit quadplex with two two‑bedroom units and two one‑bedroom units; Fully rented for several years; Near downtown Lebanon, restaurants, and shopping
