Well-Maintained Duplex with Two
For Sale
$195,900
605 North Detroit Street, Bellefontaine, OH 43311
Two occupied rental units with in-unit kitchens and laundry hookups provide straightforward income potential for an investor.
Property Size1,872 SF
Price / SF$104.65
Days on Market266
Property Features for 605 North Detroit Street
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,397
Amenities
Window Unit(s)
Forced Air, Natural Gas
Full, Unfinished
Hardwood, Linoleum, Vinyl
Yes
2
3
Ceiling Fan(s), Attic
2.0
Porch
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Bell Hankins Realty Group, LLC
(937) 210-6156
Listed By:
Stanleigh Penhorwood · License #2026000062
(937) 210-6156
Source:
Compass
Added: Nov 16, 2025
Changed: Aug 8
Last Checked: Aug 8 at 11:29AM
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 Bell Hankins Realty Group, LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two income-producing units. Unit A offers two bedrooms and one bathroom, along with a full kitchen, a comfortable living room, and convenient laundry hookups. Unit B offers one bedroom and one bathroom and is similarly appointed with a full kitchen, living room, and laundry hookups.
Both units are currently leased on yearly terms. With Unit A and Unit B occupied, the property produces a combined monthly rental income of $1,900 based on the current leases. The listing discloses that the agent is the property owner.
For buyers seeking a simple residential income setup, this duplex provides two separate units within one property, each with its own kitchen and laundry hookups for everyday tenant convenience. The two different layouts, a 2-bedroom unit and a 1-bedroom unit, may support a broader tenant mix while keeping operations consolidated under a single ownership structure.
Both units are currently leased on yearly terms. With Unit A and Unit B occupied, the property produces a combined monthly rental income of $1,900 based on the current leases. The listing discloses that the agent is the property owner.
For buyers seeking a simple residential income setup, this duplex provides two separate units within one property, each with its own kitchen and laundry hookups for everyday tenant convenience. The two different layouts, a 2-bedroom unit and a 1-bedroom unit, may support a broader tenant mix while keeping operations consolidated under a single ownership structure.
Key Highlights
- Duplex with 2 occupied rental units: one 2BD/1BA and one 1BD/1BA
- Unit A is leased for $1,050/month on a yearly lease (2 bed, 1 bath)
- Unit B is leased for $850/month on a yearly lease (1 bed, 1 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
$6,354
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
3.24%
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%
$127,080
$127.1K
Cap Rate 7%
$90,771
$90.8K
Cap Rate 9%
$70,600
$70.6K
Market Conditions
NOI Build-Up for 1,872 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
$9.9K $5.28/SF
− Vacancy
−$808 −$0.43/SF
EGI
$9.1K $4.85/SF
− OpEx
−$2.7K −$1.45/SF
NOI
$6.4K $3.39/SF
Area
Logan County, OH
Vacancy
8.17%
Lease Rate
$5.28 /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%
$127,080
Cap Rate 7%
$90,771
Cap Rate 9%
$70,600
Alternative Uses
Best Use
Multifamily LT 5
$90.8K
$79.4K – $105.9K
NOI $6,354 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$78.6K
$68.8K – $91.8K
NOI $5,505 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$377.9K
$330.7K – $440.9K
NOI $26,452 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
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?
Duplex - Two occupied rental units with in-unit kitchens and laundry hookups provide straightforward income potential for an investor.
Where is this duplex located?
The property is located at 605 North Detroit Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $195,900.
What are key features of this property?
This property features: Duplex with 2 occupied rental units: one 2BD/1BA and one 1BD/1BA; Unit A is leased for $1,050/month on a yearly lease (2 bed, 1 bath); Unit B is leased for $850/month on a yearly lease (1 bed, 1 bath)
