Duplex with Shared Basement
For Sale
Under Contract
$275,000
58 Lorene Ave, Athens, OH 45701
Multi Family, Duplex, Athens, OH
Property Size1,747 SF
Lot Size0.12 Acres
Price / SF$157.41
Days on Market38
Property Features for 58 Lorene Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family, Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Interior features
Flooring- Wood, Sump Pump
Appliances
Refrigerator, W/D Hookups, Washer, Water Heater- Electric, Water Heater- Nat. Gas, Oven/Range- Gas, Dryer
Lot features
Gutters & Downspouts, Porch- Covered
Standard status
Active Under Contract
APN
A027190004100
Size
1,747 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6907
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s)
Amenities
shared laundry
Building Details
Year built
1929
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
e-Merge Real Estate
(614) 678-5505
Listed By:
Erin Carter · License #BRKA.2024000315
(740) 591-2925
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 21 at 10:06AM
MLS# 2434692
Copyright © 2026 Athens County Board 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.
Duplex at 58 Lorene Ave in Athens, OH featuring two separate units. The ground-floor unit offers one bedroom and one full bathroom, and the upstairs unit offers two bedrooms and one full bathroom. Tenants share laundry facilities located in the basement. The home is currently rented through the end of June.
The property sits on a 0.12-acre lot. Built in 1929 with a shingle roof, it totals 1,747 square feet. Heating is provided by natural gas, and cooling is via window unit(s). Interior features include flooring described as wood, and a sump pump.
The property is positioned on the east side of Athens, minutes from Ohio University, and close to shopping, dining, and in-town amenities. The lot size also provides additional building potential, including the possibility of future development or expansion of the investment footprint.
The property sits on a 0.12-acre lot. Built in 1929 with a shingle roof, it totals 1,747 square feet. Heating is provided by natural gas, and cooling is via window unit(s). Interior features include flooring described as wood, and a sump pump.
The property is positioned on the east side of Athens, minutes from Ohio University, and close to shopping, dining, and in-town amenities. The lot size also provides additional building potential, including the possibility of future development or expansion of the investment footprint.
Key Highlights
- Currently rented through the end of June
- Ground‑floor unit: one bedroom and one full bathroom
- Upstairs unit: two bedrooms and one full bathroom
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
$15,362
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
5.59%
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%
$307,240
$307.2K
Cap Rate 7%
$219,457
$219.5K
Cap Rate 9%
$170,689
$170.7K
Market Conditions
NOI Build-Up for 1,747 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
$25.8K $14.76/SF
− Vacancy
−$3.8K −$2.20/SF
EGI
$21.9K $12.56/SF
− OpEx
−$6.6K −$3.77/SF
NOI
$15.4K $8.79/SF
Area
Athens County, OH
Vacancy
14.89%
Lease Rate
$14.76 /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%
$307,240
Cap Rate 7%
$219,457
Cap Rate 9%
$170,689
Alternative Uses
Best Use
Multifamily LT 5
$219.5K
$192.0K – $256.0K
NOI $15,362 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$201.4K
$176.2K – $235.0K
NOI $14,099 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 10.16%
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
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 45701, OH
33,705
Population
13,230
Households
2.5
Avg Household Size
27
Median Age
57%
College-Educated
95%
High-School Grad
148.6 sq mi
ZIP Area
227
Density / Sq Mi
$49,604
Median Household Income
$13,495
Median Earnings
$1,018
Median Rent
$217,700
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-unit duplex with one- and two-bedroom layouts and shared basement laundry, currently rented through end of June.
Where is this duplex located?
The property is located at 58 Lorene Ave Athens, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Currently rented through the end of June; Ground‑floor unit: one bedroom and one full bathroom; Upstairs unit: two bedrooms and one full bathroom
