Renovated Multifamily
For Sale
$231,900
622 S Blanchard St, Findlay, OH 45840
Multifamily asset with updated systems, a renovated one-bedroom unit, and electric service to the storage shed.
Property Size1,700 SF
Price / SF$136.41
Days on Market58
Property Features for 622 S Blanchard St
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Residential Income
Building Details
Tenancy
Multi
Listing Agency:
BEYCOME OF FLORIDA LLC
Listed By:
STEVEN KOLENO · License #3469487
(804) 656-5007
Source:
Exprealty
Added: Aug 31
Changed: Oct 27
Last Checked: Oct 26 at 10:25PM
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 BEYCOME OF FLORIDA LLC
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Investment Insights
Based on property information with market context.
This multifamily property at 622 S Blanchard St includes 1,700 square feet and one-bedroom, one-bathroom layouts in each unit. Unit 1 features a remodeled kitchen and bathroom, new flooring, and a replacement water heater. The property also includes a shed with electric service that provides additional storage for Unit 1.
Major improvements include a roof replacement completed in 2019, conversion from baseboard heating to mini-split heating and air conditioning in 2020, and driveway replacement in 2021. Long-term tenants are in place, and the property is located in Findlay, Ohio, near local amenities and services.
Major improvements include a roof replacement completed in 2019, conversion from baseboard heating to mini-split heating and air conditioning in 2020, and driveway replacement in 2021. Long-term tenants are in place, and the property is located in Findlay, Ohio, near local amenities and services.
Key Highlights
- 1,700‑square‑foot multifamily property at 622 S Blanchard St, Findlay, OH
- Each unit has a 1‑bedroom, 1‑bathroom layout
- Unit 1 renovated with a new kitchen, flooring, water heater, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,586
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,720
$311.7K
Cap Rate 7%
$222,657
$222.7K
Cap Rate 9%
$173,178
$173.2K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$29.6K $17.40/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$28.3K $16.67/SF
− OpEx
−$12.8K −$7.50/SF
NOI
$15.6K $9.17/SF
Area
Hancock County, OH
Vacancy
4.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,720
Cap Rate 7%
$222,657
Cap Rate 9%
$173,178
Alternative Uses
Best Use
Apartment 5plus
$222.7K
$194.8K – $259.8K
NOI $15,586 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$474.2K
$414.9K – $553.2K
NOI $33,193 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset with updated systems, a renovated one-bedroom unit, and electric service to the storage shed.
Where is this multifamily property located?
The property is located at 622 S Blanchard St Findlay, OH.
What is the asking price?
The asking price for this property is $231,900.
What are key features of this property?
This property features: 1,700‑square‑foot multifamily property at 622 S Blanchard St, Findlay, OH; Each unit has a 1‑bedroom, 1‑bathroom layout; Unit 1 renovated with a new kitchen, flooring, water heater, and bathroom
