Updated Duplex with New
For Sale
$162,000
538 Shoop Ave, Dayton, OH 45402
Two separate one-bedroom residences with recently replaced core building systems and flexible owner-occupant or rental use.
Property Size1,232 SF
Price / SF$131.49
Days on Market59
Property Features for 538 Shoop Ave
General Information
Standard status
Active
Size
1,232 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1926
Buildings
1
Listing Agency:
eXp Realty
(937) 626-4181
Listed By:
John Clark (937) 369-7876
Source:
Daytonhomesearcher
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 25 at 6:04AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with one bedroom and one full bathroom. The property offers 1,232 square feet overall, with major building systems addressed through a new roof, plumbing, electrical system, and HVAC. Built in 1926, the asset combines established construction with substantial system updates.
Located at 538 Shoop Ave in Dayton, the property is near shopping, restaurants, parks, schools, and major highways. The two-unit configuration supports separate living arrangements and may accommodate an owner-occupant or rental strategy, subject to applicable requirements.
Located at 538 Shoop Ave in Dayton, the property is near shopping, restaurants, parks, schools, and major highways. The two-unit configuration supports separate living arrangements and may accommodate an owner-occupant or rental strategy, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with one bedroom and one full bathroom per unit
- 1,232 square feet of total property size
- New roof, plumbing, electrical system, and HVAC
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
$13,201
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
8.15%
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%
$264,020
$264.0K
Cap Rate 7%
$188,586
$188.6K
Cap Rate 9%
$146,678
$146.7K
Market Conditions
NOI Build-Up for 1,232 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
$20.0K $16.20/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$18.9K $15.31/SF
− OpEx
−$5.7K −$4.59/SF
NOI
$13.2K $10.72/SF
Area
Dayton, OH
Vacancy
5.51%
Lease Rate
$16.20 /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%
$264,020
Cap Rate 7%
$188,586
Cap Rate 9%
$146,678
Alternative Uses
Best Use
Multifamily LT 5
$188.6K
$165.0K – $220.0K
NOI $13,201 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$172.9K
$151.3K – $201.7K
NOI $12,102 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$262.6K
$229.7K – $306.3K
NOI $18,379 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 45402, OH
10,735
Population
6,484
Households
1.7
Avg Household Size
37
Median Age
30%
College-Educated
88%
High-School Grad
4.4 sq mi
ZIP Area
2,440
Density / Sq Mi
$45,386
Median Household Income
$40,396
Median Earnings
$921
Median Rent
$105,900
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 - Two separate one-bedroom residences with recently replaced core building systems and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 538 Shoop Ave Dayton, OH.
What is the asking price?
The asking price for this property is $162,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one full bathroom per unit; 1,232 square feet of total property size; New roof, plumbing, electrical system, and HVAC
