Remodeled Duplex with Off-Street
For Sale
$450,000
547 N Broadway Street, Spencerville, OH 45887
MULTI_FAMILY - Other - Spencerville, OH
Property Size2,842 SF
Price / SF$158.34
Days on Market95
Property Features for 547 N Broadway Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 2, Basement, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Parking features
Off Street
Patio and Porch features
Deck, Patio, Porch
Basement
Partially Finished
Elementary school district
Spencerville
Middle school district
Spencerville
High school district
Spencerville
Standard status
Active
APN
44-1206-01-017.001
Size
2,842 SF
Taxes and HOA fees
Tax Description
PLAT OF THE VILLAGE OF SPENCERVILLE PTS OL 3 & 4 RTS 04-04-12 FF 154.18
Legal Description
PLAT OF THE VILLAGE OF SPENCERVILLE PTS OL 3 & 4 RTS 04-04-12 FF 154.18
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Separate Meters
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Metal
Architectural style
Other
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Maria Sanko
(419) 303-8495
Added: May 7
Changed: Aug 2
Last Checked: Aug 9 at 2:06PM
MLS# 310177
Copyright © 2026 West Central Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This completely remodeled two-story duplex at 547 N Broadway Street offers brick construction and a metal roof, with a layout that includes a basement and multiple bedrooms and bathrooms across the two units. Each unit has washer and dryer hook-ups. Heating is provided by forced air natural gas, and cooling is supported by central air with separate meters.
The property includes off-street parking with a paved area for vehicles, plus outdoor living space featuring a deck, patio, and porch. Utilities include public water and public sewer, and cable is available.
Showings require 24 hours notice for all appointments. The property is described as close to the Charles River.
The property includes off-street parking with a paved area for vehicles, plus outdoor living space featuring a deck, patio, and porch. Utilities include public water and public sewer, and cable is available.
Showings require 24 hours notice for all appointments. The property is described as close to the Charles River.
Key Highlights
- Completely remodeled two‑story duplex with brick construction
- 2,842 SF total property size with basement
- Central air with separate meters
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
$23,815
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
5.29%
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%
$476,300
$476.3K
Cap Rate 7%
$340,214
$340.2K
Cap Rate 9%
$264,611
$264.6K
Market Conditions
NOI Build-Up for 2,842 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
$37.5K $13.20/SF
− Vacancy
−$3.5K −$1.23/SF
EGI
$34.0K $11.97/SF
− OpEx
−$10.2K −$3.59/SF
NOI
$23.8K $8.38/SF
Area
Allen County, OH
Vacancy
9.31%
Lease Rate
$13.20 /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%
$476,300
Cap Rate 7%
$340,214
Cap Rate 9%
$264,611
Alternative Uses
Best Use
Multifamily LT 5
$340.2K
$297.7K – $396.9K
NOI $23,815 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$314.2K
$274.9K – $366.6K
NOI $21,995 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$684.5K
$599.0K – $798.6K
NOI $47,917 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 45887, OH
4,688
Population
1,863
Households
2.5
Avg Household Size
40
Median Age
12%
College-Educated
91%
High-School Grad
69.7 sq mi
ZIP Area
67
Density / Sq Mi
$62,838
Median Household Income
$46,667
Median Earnings
$808
Median Rent
$185,400
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 - Completely remodeled 2-story brick duplex with off-street paved parking, central air, and washer/dryer hookups in each unit.
Where is this duplex located?
The property is located at 547 N Broadway Street Spencerville, OH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Completely remodeled two‑story duplex with brick construction; 2,842 SF total property size with basement; Central air with separate meters
