Mansfield Multi-Family Investment
49 -51 Lind Avenue Mansfield, OH 44903
For Sale
$174,900
MULTI_FAMILY - Mansfield, OH
Property Size2,100 SF
Lot Size0.10 Acres
Price / SF$83.29
Days on Market140
Property Features for 49 -51 Lind Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 6, Bedroom 5, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
Parking
3
Standard status
Active
APN
0270111010000
Size
2,100 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
5462 & 5463 N PTS EA 50 X
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Sluss Realty Co.
(419) 529-3047
Listed By:
Erika Young
(419) 512-3573
Added: Mar 10
Changed: Jul 13
Last Checked: Jul 27 at 4:06PM
MLS# 230916
Copyright © 2026 Ashland Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit multi-family property in Mansfield, Ohio, presents an investment opportunity or potential for owner-occupancy with rental income. The property features upper and lower units, each with separate entrances and utilities. Both units offer spacious layouts with 3 bedrooms, living room, dining room, and kitchen, all with natural light. Located minutes from downtown on a quiet dead-end street, the property is also a few blocks from OhioHealth Mansfield Hospital and close to shopping and dining options. Public transportation is available. Off-street parking is included for several vehicles. The lot size is approximately 0.1019 acres and the property size is 2100 square feet. A one-year home warranty is included.
Key Highlights
- Two‑unit multi‑family with both upper and lower units, each with separate entrances and utilities
- Each unit offers 3 bedrooms plus living room (LR), dining room (DR), and kitchen (Kit)
- Forced‑air natural gas heating; asphalt roof
Financial Insights For Apartment 5plus
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 | $30.2k | $14.40 |
| − Vacancy | −$1.8k | −$0.88 |
| EGI | $28.4k | $13.52 |
| − OpEx | −$12.8k | −$6.08 |
| NOI | $15.6k | $7.44 |
2,100 SF · lease $14.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$249.3K
$218.1K – $290.8K
NOI $17,450 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$223.1K
$195.2K – $260.3K
NOI $15,617 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$422.5K
$369.7K – $492.9K
NOI $29,575 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near downtown Mansfield, ideal for investment or owner-occupancy.
Where is this duplex located?
The property is located at 49 -51 Lind Avenue Mansfield, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two‑unit multi‑family with both upper and lower units, each with separate entrances and utilities; Each unit offers 3 bedrooms plus living room (LR), dining room (DR), and kitchen (Kit); Forced‑air natural gas heating; asphalt roof
