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    Versatile Multi-Home Property with Barns Title is generated by Realmo AI

    5188 State Route 775, Patriot, OH 45658

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    Claim this Listing
    For Sale
    $425,000

    Multi-Unit - Patriot, OH

    Property size:
    3,934 SF
    Lot size:
    7.00 Acres
    Price / SF:
    $108/SF
    Added:
    Aug 5, 2025
    Days on Market:
    291
    Last Refresh:
    May 22 at 9:06 am

    Property Features for 5188 State Route 775

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    11
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Garage
    Standard status
    Active
    Size
    3,934 SF
    Lot size
    7.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Wood (Heating), Wood Stove

    Building Details

    Building materials
    Vinyl Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Brian Whitt

    Listing agent Brian Whitt

    Listing office Arrowhead Land Company 311 Elm Street, Cincinnati, OH

    Listing date Aug 5, 2025

    MLS# 11549533 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two homes on the property, one with 11 rooms/2 bathrooms and the other with 5 rooms/1 bathroom, offering living space and rental income potential.
    • Three barns suitable for manufacturing, livestock, storage, or event rental, providing versatile income opportunities.
    • Open and scenic land with existing fencing, ideal for a horse farm, wedding venue, or homestead.
    • Both homes have chimneys ready for wood burners/stoves and are serviced by public water and septic, with plumbing in place.
    • Oil, gas, and mineral rights convey with the property.
    • Located in the desirable community of Patriot, Ohio, offering rural charm with access to amenities.

    Overview

    Located in Gallia County, Ohio, this property features two homes and three barns. The main home includes eleven rooms and two bathrooms. A porch offers views of the surroundings, and a chimney is ready for a woodburner or stove. The second home includes five rooms and one bathroom and also has a chimney ready for a woodburner or stove. Both homes are serviced by public water and septic, and have plumbing in place. The land is open and scenic, with existing fencing. The barns are located near the homes and are functional and versatile. The infrastructure supports housing livestock, hay storage, vehicle repair, woodworking, or creating rental income through storage or events. The property is suited for a horse farm, wedding venue, vacation rental, or homestead. The property is located in Patriot, Ohio. Electric is available at the road. The seller's oil, gas, and mineral rights convey. The property size is 3934 square feet on a 7-acre lot.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $276.4K
    NOI $24,874 @ 9.00% cap · cautious / downside scenario
    Moderate
    $355.3K
    NOI $24,874 @ 7.00% cap · market / base-case scenario
    Aggressive
    $497.5K
    NOI $24,874 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $47.2k $12.00
    − Vacancy −$2.0k −$0.50
    EGI $45.2k $11.50
    − OpEx −$20.4k −$5.17
    NOI $24.9k $6.32
    3,934 SF · lease $12.00/SF/yr · vacancy 4.20% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $355.3K
    $310.9K – $414.6K (±1% cap)
    NOI $24,874 @ 7.0% cap · market cap 5.85%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $792.4K
    $693.4K – $924.5K (±1% cap)
    NOI $55,469 @ 7.0% cap · market cap 13.05%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wedding venues

    Map

    City
    Patriot
    County
    Gallia
    State
    Ohio
    Longitude
    -82.364909
    Latitude
    38.747952

    FAQs

    What type of property is this?
    Horse & equestrian property - Two homes and three barns on 7 acres in Patriot, Ohio.
    Where is this horse & equestrian property located?
    The property is located at 5188 State Route 775 Patriot, 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: Two homes on the property, one with 11 rooms/2 bathrooms and the other with 5 rooms/1 bathroom, offering living space and rental income potential.; Three barns suitable for manufacturing, livestock, storage, or event rental, providing versatile income opportunities.; Open and scenic land with existing fencing, ideal for a horse farm, wedding venue, or homestead.
    (833) 873-2452
    We can help!
    Listing Contact
    Brian Whitt
    Real Estate License ID: 2021008878
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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