Two-Unit Rental
435 Ray Ave, Circleville, OH 43113
For Sale
$170,000
Pending
Both residences have two bedrooms and are leased on month-to-month terms.
Property Size1,344 SF
Days on Market11
Property Features for 435 Ray Ave
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Amenities
range
refrigerator
washer and dryer hookups
one-car garage
metal storage unit
Building Details
Year Built
Listing Agency:
Suzanne Smith, Howard Hanna Real Estate Svcs
Listed By:
The Daniel Team
(614) 402-5212
Source:
Newdirectionsrealtyltd
Added: Oct 28
Changed: Nov 6
Last Checked: Nov 6 at 8:42AM
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 Suzanne Smith, Howard Hanna Real Estate Svcs
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Investment Insights
Based on property information with market context.
Built in 1951, this 1,344-square-foot duplex contains two residences, each with two bedrooms, one full bathroom, a range, a refrigerator and washer and dryer hookups. Both units are occupied under month-to-month rental agreements.
The property is near Circleville shopping, dining and amenities, with access to US Route 23. One residence has a one-car garage; the other includes a metal storage unit.
The property is near Circleville shopping, dining and amenities, with access to US Route 23. One residence has a one-car garage; the other includes a metal storage unit.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1,344 square feet; built in 1951
- Both units rented month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,250
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,000
$285.0K
Cap Rate 7%
$203,571
$203.6K
Cap Rate 9%
$158,333
$158.3K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$21.8K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$20.4K $15.15/SF
− OpEx
−$6.1K −$4.54/SF
NOI
$14.3K $10.60/SF
Area
Pickaway County, OH
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,000
Cap Rate 7%
$203,571
Cap Rate 9%
$158,333
Alternative Uses
Best Use
Multifamily LT 5
$203.6K
$178.1K – $237.5K
NOI $14,250 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$198.4K
$173.6K – $231.5K
NOI $13,888 @ 7.0% cap · market cap 8.17%
Theoretical Best
Warehouse
$270.9K
$237.0K – $316.0K
NOI $18,962 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 43113, OH
24,165
Population
10,461
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
89%
High-School Grad
162.2 sq mi
ZIP Area
149
Density / Sq Mi
$63,715
Median Household Income
$39,174
Median Earnings
$935
Median Rent
$217,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and are leased on month-to-month terms.
Where is this duplex located?
The property is located at 435 Ray Ave Circleville, OH.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 1,344 square feet; built in 1951; Both units rented month‑to‑month
