Brick
For Sale
$375,000
Pending
5490 Bellefontaine Rd, Dayton, OH 45424
Four mirrored apartments offer a consistent two-bedroom, one-bathroom layout in a low-maintenance masonry building.
Property Size2,987 SF
Days on Market15
Property Features for 5490 Bellefontaine Rd
General Information
Standard status
Pending
Size
2,987 SF
Property subtype
Residential Income
Occupancy
100%
Property Condition
Severity
Minor
Evidence
need varying degrees of improvements
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1968
Buildings
1
Construction
brick ranch-style
Listing Agency:
Streetlight Realty LLC
(937) 829-1710
Listed By:
Jesse Doyle
(937) 829-1710
Source:
Exprealty
Added: Aug 6
Changed: Aug 20
Last Checked: Aug 20 at 11:52AM
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 Streetlight Realty LLC
Investment Insights
Based on property information with market context.
This quadplex is a brick ranch-style property constructed in 1968 with four matching apartments. Each unit contains 2 bedrooms and 1 full bathroom, creating a uniform layout across the building. All 4 apartments are currently rented. One unit has been updated, while the remaining 3 units require varying levels of improvement. Tenants are responsible for electric and gas service.
The property provides access to schools, parks, shopping, and highways. Its all-brick exterior offers a durable building envelope and straightforward maintenance profile. The consistent unit configuration may support a practical approach to managing the four-apartment asset.
The property provides access to schools, parks, shopping, and highways. Its all-brick exterior offers a durable building envelope and straightforward maintenance profile. The consistent unit configuration may support a practical approach to managing the four-apartment asset.
Key Highlights
- Four‑unit quadplex built in 1968
- Each apartment includes 2 bedrooms and 1 full bathroom
- All 4 units are currently rented
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
$32,006
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
8.53%
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%
$640,120
$640.1K
Cap Rate 7%
$457,229
$457.2K
Cap Rate 9%
$355,622
$355.6K
Market Conditions
NOI Build-Up for 2,987 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
$48.4K $16.20/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$45.7K $15.31/SF
− OpEx
−$13.7K −$4.59/SF
NOI
$32.0K $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%
$640,120
Cap Rate 7%
$457,229
Cap Rate 9%
$355,622
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.1K – $533.4K
NOI $32,006 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.0K
NOI $29,342 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$636.6K
$557.0K – $742.7K
NOI $44,561 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 45424, OH
50,920
Population
21,557
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
31.5 sq mi
ZIP Area
1,617
Density / Sq Mi
$78,566
Median Household Income
$45,827
Median Earnings
$1,096
Median Rent
$169,000
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 - Four mirrored apartments offer a consistent two-bedroom, one-bathroom layout in a low-maintenance masonry building.
Where is this quadplex located?
The property is located at 5490 Bellefontaine Rd Dayton, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1968; Each apartment includes 2 bedrooms and 1 full bathroom; All 4 units are currently rented
