500 Eastern Avenue, New Lexington, OH 43764
MULTI_FAMILY - New Lexington, OH
- Added:
- Aug 22, 2025
- Days on Market:
- 320
- Last Refresh:
- Jul 7 at 5:06 am
Property Features for 500 Eastern Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Basement, Bedroom 4, Bedroom 6, Laundry Room, Bathroom 1
- Interior features
- CeilingFans
- Appliances
- Dryer, Refrigerator, Washer
- Standard status
- Active
- APN
- 270003010000
- Size
- 2,500 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- WHOLE LOT 1847VANATTAS FI RST ADD SEC 09
- Tax Annual Amount
- 1238
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1991
- Floors in Building
- 2
- Building materials
- VinylSiding
- Roof type
- Metal
Listing agent Joan Elflein License #386319 (614) 989-7215
Listing office Ohio Broker Direct 2665 Spangler Road, Columbus, OH (614) 989-7215
Listing date Aug 22, 2025
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully renovated 3‑unit property (duplex plus rear cottage‑style unit); renovated about two years ago
- All units have brand‑new HVAC systems, with natural gas heating and central air plus window A/C units
- Each unit is individually metered for gas, water, and electric to simplify expense management
- Three active leases in place and all three units have been continuously leased since the renovation
- Side A of the duplex will become available at the end of August
- Two parcels: one for the duplex and one for the cottage, offering flexibility for future development or resale
Overview
Local 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 | $40.5k | $16.20 |
| − Vacancy | −$2.6k | −$1.05 |
| EGI | $37.9k | $15.15 |
| − OpEx | −$11.4k | −$4.54 |
| NOI | $26.5k | $10.60 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Lexington
- County
- Perry
- State
- Ohio
- Longitude
- -82.200463
- Latitude
- 39.712082
