Remodeled Duplex with Front
New
For Sale
$195,000
501 East Auglaize Street, Wapakoneta, OH 45895
Two separate units offer flexible occupancy, with one side recently updated and the other featuring adaptable living space.
Property Size1,624 SF
Price / SF$120.07
Days on Market7
Property Features for 501 East Auglaize Street
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,136
Amenities
Window Unit(s)
Baseboard, Forced Air, Natural Gas
Partial, Unfinished
Carpet, Laminate
Yes
2
Ceiling Fan(s)
2.0
Porch
Building Details
Year Built
1910
Listing Agency:
Binkley Real Estate, LLC
Listed By:
Maisie Tyler · License #2014002061
(419) 738-3232
Source:
Compass
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 22 at 3:51PM
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 Binkley Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex contains 1,624 square feet across two residential units, each with its own utilities. The South unit, identified as 501 1/2, has 1 bedroom and 1 bathroom and received extensive remodeling from late 2024 into early 2025, including new flooring, cabinetry, countertops, bathroom finishes, trim, outlets, switches, paint, and doors. The North unit at 501 includes 1 bedroom plus a front room that can serve as an additional bedroom or flexible space, along with an open living area and front porch.
The property also includes a washer and dryer area with additional storage space. A water heater was replaced in 2025, while the garage roof and garage door were replaced in 2026. Built in 1910, the property has window unit cooling, baseboard and forced-air heating, natural gas, two bathrooms, and two covered porch areas. The current arrangement has the owner occupying one unit and renting the other, with the option to continue that setup or lease both units.
The property also includes a washer and dryer area with additional storage space. A water heater was replaced in 2025, while the garage roof and garage door were replaced in 2026. Built in 1910, the property has window unit cooling, baseboard and forced-air heating, natural gas, two bathrooms, and two covered porch areas. The current arrangement has the owner occupying one unit and renting the other, with the option to continue that setup or lease both units.
Key Highlights
- 1,624‑square‑foot duplex with two separate units
- South unit remodeled from late 2024 into early 2025
- South unit includes 1 bedroom and 1 bathroom
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
$11,133
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
5.71%
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%
$222,660
$222.7K
Cap Rate 7%
$159,043
$159.0K
Cap Rate 9%
$123,700
$123.7K
Market Conditions
NOI Build-Up for 1,624 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
$16.6K $10.20/SF
− Vacancy
−$661 −$0.41/SF
EGI
$15.9K $9.79/SF
− OpEx
−$4.8K −$2.94/SF
NOI
$11.1K $6.86/SF
Area
Auglaize County, OH
Vacancy
3.99%
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%
$222,660
Cap Rate 7%
$159,043
Cap Rate 9%
$123,700
Alternative Uses
Best Use
Multifamily LT 5
$159.0K
$139.2K – $185.6K
NOI $11,133 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$139.4K
$121.9K – $162.6K
NOI $9,755 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$327.1K
$286.2K – $381.6K
NOI $22,898 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 45895, OH
17,974
Population
7,963
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
187.0 sq mi
ZIP Area
96
Density / Sq Mi
$72,965
Median Household Income
$44,392
Median Earnings
$846
Median Rent
$181,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units offer flexible occupancy, with one side recently updated and the other featuring adaptable living space.
Where is this duplex located?
The property is located at 501 East Auglaize Street Wapakoneta, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,624‑square‑foot duplex with two separate units; South unit remodeled from late 2024 into early 2025; South unit includes 1 bedroom and 1 bathroom
