Four-Unit Multifamily
For Sale
$124,900
Pending
420 E Rensselaer St, Bucyrus, OH 44820
Corner-lot multifamily property with a detached rear apartment and alley access.
Property Size1,576 SF
Days on Market19
Property Features for 420 E Rensselaer St
General Information
Standard status
Pending
Size
1,576 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
ready for updates
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,978
Amenities
enclosed porch
Listing Agency:
Sluss Realty
(419) 565-5184
Listed By:
Stacey Wampler · License #2017005923
(419) 565-5184
Source:
Exprealty
Added: Aug 3
Changed: Aug 20
Last Checked: Aug 20 at 12:51PM
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 quadplex contains four one-bedroom, one-bathroom apartments within a 1,576-square-foot property. The main building includes a large enclosed front porch, while a separate rear unit adds flexibility to the layout. The property is being sold as-is, with three apartments vacant and one currently occupied.
Positioned on a corner lot in an established neighborhood, the property offers off-street access from the alley and convenient proximity to downtown amenities, shopping, restaurants, and major roadways. Its location is 420 E Rensselaer St in Bucyrus, Ohio.
Positioned on a corner lot in an established neighborhood, the property offers off-street access from the alley and convenient proximity to downtown amenities, shopping, restaurants, and major roadways. Its location is 420 E Rensselaer St in Bucyrus, Ohio.
Key Highlights
- Four 1‑bedroom, 1‑bathroom apartments
- 1,576‑square‑foot quadplex on a corner lot
- Three vacant units and one occupied unit
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
$10,634
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
8.51%
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%
$212,680
$212.7K
Cap Rate 7%
$151,914
$151.9K
Cap Rate 9%
$118,156
$118.2K
Market Conditions
NOI Build-Up for 1,576 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
$16.1K $10.20/SF
− Vacancy
−$884 −$0.56/SF
EGI
$15.2K $9.64/SF
− OpEx
−$4.6K −$2.89/SF
NOI
$10.6K $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%
$212,680
Cap Rate 7%
$151,914
Cap Rate 9%
$118,156
Alternative Uses
Best Use
Multifamily LT 5
$151.9K
$132.9K – $177.2K
NOI $10,634 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$141.2K
$123.5K – $164.7K
NOI $9,882 @ 7.0% cap · market cap 7.91%
Theoretical Best
Specialty Retail
$308.9K
$270.3K – $360.4K
NOI $21,626 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 44820, OH
17,114
Population
7,982
Households
2.1
Avg Household Size
45
Median Age
14%
College-Educated
91%
High-School Grad
160.6 sq mi
ZIP Area
107
Density / Sq Mi
$56,942
Median Household Income
$38,073
Median Earnings
$742
Median Rent
$134,100
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?
Quadplex - Corner-lot multifamily property with a detached rear apartment and alley access.
Where is this quadplex located?
The property is located at 420 E Rensselaer St Bucyrus, OH.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bathroom apartments; 1,576‑square‑foot quadplex on a corner lot; Three vacant units and one occupied unit
