Two-Story Duplex with Detached
For Sale
$150,000
516 Boal Ave, Piqua, OH 45356
Duplex offering front porch space, upper-level exterior access, and a detached garage.
Property Size1,376 SF
Price / SF$109.01
Days on Market24
Property Features for 516 Boal Ave
General Information
Standard status
Active
Size
1,376 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Building Details
Year Built
1920
Stories
2
Listing Agency:
EB Real Estate
(937) 626-4181
Listed By:
Eric M Brown (937) 548-4663
Source:
Daytonhomesearcher
Added: Aug 9
Changed: Aug 30
Last Checked: Aug 31 at 5:22PM
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 EB Real Estate
Investment Insights
Based on property information with market context.
Built in 1920, this two-story duplex provides 1,376 square feet of living space with three bedrooms and two bathrooms. A private exterior staircase serves the upper level, while the front porch adds covered outdoor space at the entry.
A detached garage sits beside the property and has two individual garage doors. The grounds also include a grassy yard and a mature shade tree, providing additional outdoor features for the residence.
A detached garage sits beside the property and has two individual garage doors. The grounds also include a grassy yard and a mature shade tree, providing additional outdoor features for the residence.
Key Highlights
- 1,376 square feet of living space
- Three bedrooms and two bathrooms
- Two‑story layout with private exterior staircase to the upper level
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
$12,472
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
8.31%
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%
$249,440
$249.4K
Cap Rate 7%
$178,171
$178.2K
Cap Rate 9%
$138,578
$138.6K
Market Conditions
NOI Build-Up for 1,376 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
$19.0K $13.80/SF
− Vacancy
−$1.2K −$0.85/SF
EGI
$17.8K $12.95/SF
− OpEx
−$5.3K −$3.88/SF
NOI
$12.5K $9.06/SF
Area
Miami County, OH
Vacancy
6.17%
Lease Rate
$13.80 /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%
$249,440
Cap Rate 7%
$178,171
Cap Rate 9%
$138,578
Alternative Uses
Best Use
Multifamily LT 5
$178.2K
$155.9K – $207.9K
NOI $12,472 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$155.3K
$135.9K – $181.2K
NOI $10,869 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$280.4K
$245.4K – $327.2K
NOI $19,631 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 45356, OH
25,106
Population
11,353
Households
2.2
Avg Household Size
41
Median Age
15%
College-Educated
89%
High-School Grad
75.5 sq mi
ZIP Area
333
Density / Sq Mi
$66,134
Median Household Income
$38,323
Median Earnings
$900
Median Rent
$144,500
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?
Duplex - Duplex offering front porch space, upper-level exterior access, and a detached garage.
Where is this duplex located?
The property is located at 516 Boal Ave Piqua, OH.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,376 square feet of living space; Three bedrooms and two bathrooms; Two‑story layout with private exterior staircase to the upper level
