Updated 12-Unit Apartment
For Sale
$425,000
511 East Temple Street, Washington Court House, OH 43160
Income-producing multifamily property with a mix of private shower facilities and landlord-paid utilities.
Property Size2,594 SF
Price / SF$163.84
Days on Market327
Property Features for 511 East Temple Street
General Information
Standard status
Active
Size
2,594 SF
Property subtype
Multi-Family / Duplex
Net Operating Income
$1.00
Additional Details
Average Monthly Rent
$725
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$2,416
Amenities
Window Unit(s)
Forced Air
Yes
Building Details
Year Built
1850
Listing Agency:
Langley, Realtors&Auctioneers
(740) 572-1120
Listed By:
Jason N Langley · License #2013000983
(740) 572-1120
Source:
Compass
Added: Oct 8, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:15PM
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 Langley, Realtors&Auctioneers
Investment Insights
Based on property information with market context.
This multifamily property contains 12 apartment units and dates to 1850. Select units include individual shower facilities. Interior systems include window air-conditioning units and forced-air heating.
The landlord pays all utilities for the property. The building is located at 511 East Temple Street in Washington Court House, Ohio, with an address in the 43160 ZIP code.
The landlord pays all utilities for the property. The building is located at 511 East Temple Street in Washington Court House, Ohio, with an address in the 43160 ZIP code.
Key Highlights
- 12‑unit apartment building
- Landlord pays all utilities
- Some units include private showers
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
$20,587
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
4.84%
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%
$411,740
$411.7K
Cap Rate 7%
$294,100
$294.1K
Cap Rate 9%
$228,744
$228.7K
Market Conditions
NOI Build-Up for 2,594 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
$40.5K $15.60/SF
− Vacancy
−$3.0K −$1.17/SF
EGI
$37.4K $14.43/SF
− OpEx
−$16.8K −$6.49/SF
NOI
$20.6K $7.94/SF
Area
Fayette County, OH
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$411,740
Cap Rate 7%
$294,100
Cap Rate 9%
$228,744
Alternative Uses
Best Use
Apartment 5plus
$294.1K
$257.3K – $343.1K
NOI $20,587 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$723.5K
$633.1K – $844.1K
NOI $50,648 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 43160, OH
22,117
Population
10,012
Households
2.2
Avg Household Size
41
Median Age
14%
College-Educated
86%
High-School Grad
213.2 sq mi
ZIP Area
104
Density / Sq Mi
$57,475
Median Household Income
$38,296
Median Earnings
$802
Median Rent
$162,200
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?
Apartment building - Income-producing multifamily property with a mix of private shower facilities and landlord-paid utilities.
Where is this apartment building located?
The property is located at 511 East Temple Street Washington Court House, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 12‑unit apartment building; Landlord pays all utilities; Some units include private showers
