Building Details

Year Built 1968

Buildings 2

Listing Agency: Agora Realty Group

Listed By: Craig D Kellogg (937) 901-8500 · License #BRKP.2014000983 Show Phone

Source: Daytonhomesearcher

Added: May 7 Changed: Oct 13 Last Checked: Oct 16 at 8:54AM

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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 Agora Realty Group

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Investment Insights

Based on property information with market context.

This 24-unit multifamily property consists of two buildings identified as 410 and 420 Cherrywood Ave. The buildings are arranged around a shared courtyard and include a spacious parking area, on-site laundry, and added security features. Constructed in 1968, the property offers a multi-building apartment configuration in Dayton, Ohio.

The location provides access to major highways, shopping, dining, and downtown Dayton. The asset combines residential units with shared outdoor space and practical resident amenities across both buildings.

Key Highlights

• 24‑unit multifamily property comprising two buildings
• Two‑building layout at 410 and 420 Cherrywood Ave
• Shared courtyard between the buildings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,690

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,633,800 $1.6M

Cap Rate 7%

$1,167,000 $1.2M

Cap Rate 9%

$907,667 $907.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,316 SF

Gross rent

$157.7K $18.96/SF

− Vacancy

−$9.1K −$1.10/SF

EGI

$148.5K $17.86/SF

− OpEx

−$66.8K −$8.04/SF

NOI

$81.7K $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%

$1,633,800

Cap Rate 7%

$1,167,000

Cap Rate 9%

$907,667

Alternative Uses

Best Use

Apartment 5plus

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,690 @ 7.0% cap · market cap 5.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.77M

$1.55M – $2.07M (±1% cap)

NOI $124,061 @ 7.0% cap · market cap 8.38%

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 Law Firm Dental Office Hair Salon Spa & Massage Center Nail 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

24

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

269

Businesses Nearby

Explore this area Business Placement

Demographics for 45403, OH

15,130

Population

7,429

Households

2

Avg Household Size

35

Median Age

11%

College-Educated

76%

High-School Grad

3.1 sq mi

ZIP Area

4,881

Density / Sq Mi

$36,250

Median Household Income

$33,438

Median Earnings

$742

Median Rent

$73,900

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 - Two buildings share a courtyard, parking area, on-site laundry, and security features.

Where is this apartment building located?

The property is located at 410 N Cherrywood Ave Dayton, OH.

What is the asking price?

The asking price for this property is $1,479,900.

What are key features of this property?

This property features: 24‑unit multifamily property comprising two buildings; Two‑building layout at 410 and 420 Cherrywood Ave; Shared courtyard between the buildings