Quadplex with Barn-Style
For Sale
$285,000
527 W Sandusky Street, Findlay, OH 45840
Tenant-occupied four-unit property with connected utilities and landlord-owned appliances.
Property Size2,816 SF
Days on Market186
Property Features for 527 W Sandusky Street
General Information
Standard status
Active
Size
2,816 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Amenities
Window Unit(s)
Baseboard
Electric
Natural Gas
Central
Forced Air
Water Heater
Electric Range
Refrigerator
Porch, Water Connected, Natural Gas Connected, Electricity Connected, Sewer Connected, Asphalt
Building Details
Building Size
2,816 SF
Year Built
1900
Stories
2
Listing Agency:
BHHS Koehler Realty
(419) 722-0582
Listed By:
Kim Leeper
(419) 722-0582
Source:
Kw
Added: Feb 26
Changed: Aug 29
Last Checked: Aug 29 at 4:53PM
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 BHHS Koehler Realty
Investment Insights
Based on property information with market context.
Built in 1900, this four-unit residential income property includes updated electrical and plumbing systems, replacement windows installed approximately 3 years ago, and a mix of baseboard, forced-air, and window-unit heating and cooling. The upper apartments share a furnace, while landlord-owned appliances include 3 refrigerators and 4 ranges. Current rent includes all utilities.
The property also features a 560 square foot barn-style garage with a loft, half-concrete and half-stone flooring, and connected water, natural gas, electricity, and sewer service. The garage is not available for tenant use. The property is occupied, and showings require 24-hour notice.
The property also features a 560 square foot barn-style garage with a loft, half-concrete and half-stone flooring, and connected water, natural gas, electricity, and sewer service. The garage is not available for tenant use. The property is occupied, and showings require 24-hour notice.
Key Highlights
- Four‑unit property built in 1900
- Updated electrical and plumbing systems
- Replacement windows approximately 3 years old
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
$25,817
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
9.06%
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%
$516,340
$516.3K
Cap Rate 7%
$368,814
$368.8K
Cap Rate 9%
$286,856
$286.9K
Market Conditions
NOI Build-Up for 2,816 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
$49.0K $17.40/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$46.9K $16.67/SF
− OpEx
−$21.1K −$7.50/SF
NOI
$25.8K $9.17/SF
Area
Hancock County, OH
Vacancy
4.20%
Lease Rate
$17.40 /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%
$516,340
Cap Rate 7%
$368,814
Cap Rate 9%
$286,856
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.4K – $481.9K
NOI $28,915 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$368.8K
$322.7K – $430.3K
NOI $25,817 @ 7.0% cap · market cap 9.06%
Theoretical Best
Specialty Retail
$785.5K
$687.3K – $916.4K
NOI $54,983 @ 7.0% cap · market cap 19.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
Explore this area
Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
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?
Quadplex - Tenant-occupied four-unit property with connected utilities and landlord-owned appliances.
Where is this quadplex located?
The property is located at 527 W Sandusky Street Findlay, OH.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Four‑unit property built in 1900; Updated electrical and plumbing systems; Replacement windows approximately 3 years old
