Side-by-Side Duplex with
New
For Sale
$364,900
552 Boulder Dr, Delaware, OH 43015
Two residential units each include private living areas, basement storage, and off-street parking.
Property Size2,118 SF
Price / SF$172.29
Days on Market2
Property Features for 552 Boulder Dr
General Information
Standard status
Active
Size
2,118 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Amenities
partial basement
shared rear yard
Building Details
Year Built
1992
Buildings
1
Listing Agency:
Cindi Ann Watkins, E-Merge Real Estate Excellence
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:03AM
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 Cindi Ann Watkins, E-Merge Real Estate Excellence
Investment Insights
Based on property information with market context.
Built in 1992, this 2,118-square-foot duplex is arranged as two side-by-side residences. Each unit offers 2 bedrooms, 1 full bath, an attached 1-car garage, a partial basement, and separate living areas. The basements provide additional storage and laundry potential, while off-street parking supports resident convenience.
Outdoor amenities include a shared rear yard suitable for everyday use and entertaining. The property is located near schools, shopping, dining, parks, and other daily conveniences in Delaware, Ohio, offering a residential setting with access to surrounding services.
Outdoor amenities include a shared rear yard suitable for everyday use and entertaining. The property is located near schools, shopping, dining, parks, and other daily conveniences in Delaware, Ohio, offering a residential setting with access to surrounding services.
Key Highlights
- 2,118‑square‑foot side‑by‑side duplex
- Built in 1992
- Each unit has 2 bedrooms and 1 full bath
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
$18,417
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
5.05%
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%
$368,340
$368.3K
Cap Rate 7%
$263,100
$263.1K
Cap Rate 9%
$204,633
$204.6K
Market Conditions
NOI Build-Up for 2,118 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
$30.2K $14.28/SF
− Vacancy
−$3.9K −$1.86/SF
EGI
$26.3K $12.42/SF
− OpEx
−$7.9K −$3.73/SF
NOI
$18.4K $8.70/SF
Area
Delaware County, OH
Vacancy
13.01%
Lease Rate
$14.28 /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%
$368,340
Cap Rate 7%
$263,100
Cap Rate 9%
$204,633
Alternative Uses
Best Use
Multifamily LT 5
$263.1K
$230.2K – $307.0K
NOI $18,417 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$241.3K
$211.1K – $281.5K
NOI $16,889 @ 7.0% cap · market cap 4.63%
Theoretical Best
Warehouse
$426.9K
$373.5K – $498.0K
NOI $29,882 @ 7.0% cap · market cap 8.19%
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
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 43015, OH
57,563
Population
23,287
Households
2.5
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
127.9 sq mi
ZIP Area
450
Density / Sq Mi
$99,622
Median Household Income
$50,799
Median Earnings
$1,207
Median Rent
$311,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each include private living areas, basement storage, and off-street parking.
Where is this duplex located?
The property is located at 552 Boulder Dr Delaware, OH.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: 2,118‑square‑foot side‑by‑side duplex; Built in 1992; Each unit has 2 bedrooms and 1 full bath
