Well-Maintained Duplex in Bucyrus,
For Sale
$110,000
609 W Perry Street, Bucyrus, OH 44820
Spacious up-and-down duplex with income potential in desirable neighborhood.
Property Size1,176 SF
Days on Market299
Property Features for 609 W Perry Street
General Information
Standard status
Active
Size
1,176 SF
Property subtype
Duplex
Amenities
Natural Gas
Forced Air
Central Air
Asphalt, Shingles
Building Details
Building Size
1,176 SF
Year Built
1940
Stories
2
Listing Agency:
The Property Collective
(419) 348-6321
Listed By:
Nicholas Moody
(419) 348-6321
Source:
Kw
Added: Nov 4, 2025
Changed: Aug 27
Last Checked: Aug 29 at 4:54PM
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 The Property Collective
Investment Insights
Based on property information with market context.
Located on W. Perry Street in Bucyrus, OH, this well-maintained up-and-down duplex presents an investment opportunity or potential for owner-occupancy. The property features two spacious units. The upper unit includes three bedrooms, one bath, in-unit washer and dryer, dishwasher, gas furnace, and central air. The lower unit offers two bedrooms, one bath, washer and dryer hookup, and its own furnace and central air system. Both units are described as bright, comfortable, and move-in ready. The property also includes an attached two-car garage and is situated on a quiet street in a desirable neighborhood. The property is located within the Bucyrus School District.
Key Highlights
- Excellent investment opportunity or owner‑occupant duplex.
- Two spacious, move‑in ready units.
- Upper unit boasts 3 bedrooms, in‑unit washer/dryer, dishwasher, and central air.
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
$7,935
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
7.21%
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%
$158,700
$158.7K
Cap Rate 7%
$113,357
$113.4K
Cap Rate 9%
$88,167
$88.2K
Market Conditions
NOI Build-Up for 1,176 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
$12.0K $10.20/SF
− Vacancy
−$660 −$0.56/SF
EGI
$11.3K $9.64/SF
− OpEx
−$3.4K −$2.89/SF
NOI
$7.9K $6.75/SF
Area
Crawford County, OH
Vacancy
5.50%
Lease Rate
$10.20 /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%
$158,700
Cap Rate 7%
$113,357
Cap Rate 9%
$88,167
Alternative Uses
Best Use
Multifamily LT 5
$113.4K
$99.2K – $132.3K
NOI $7,935 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$105.3K
$92.2K – $122.9K
NOI $7,374 @ 7.0% cap · market cap 6.70%
Theoretical Best
Specialty Retail
$230.5K
$201.7K – $269.0K
NOI $16,137 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Explore this area
Business Placement
Demographics for 44820, OH
17,114
Population
7,982
Households
2.1
Avg Household Size
45
Median Age
14%
College-Educated
91%
High-School Grad
160.6 sq mi
ZIP Area
107
Density / Sq Mi
$56,942
Median Household Income
$38,073
Median Earnings
$742
Median Rent
$134,100
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 - Spacious up-and-down duplex with income potential in desirable neighborhood.
Where is this duplex located?
The property is located at 609 W Perry Street Bucyrus, OH.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Excellent investment opportunity or owner‑occupant duplex.; Two spacious, move‑in ready units.; Upper unit boasts 3 bedrooms, in‑unit washer/dryer, dishwasher, and central air.
