Quadplex with Attached
For Sale
Under Contract
$589,900
623 11th Drive NW, New Philadelphia, OH 44663
ResidentialIncome, New Philadelphia, OH
Property Size3,840 SF
Lot Size0.34 Acres
Price / SF$153.62
Days on Market158
Property Features for 623 11th Drive NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Laundry Room, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 8, Bathroom 4, Bedroom 7, Bathroom 2, Bathroom 1, Basement, Bedroom 5, Bedroom 6, Bedroom 4
Parking features
Parking Lot, Open, Garage
Interior features
OpenFloorplan
Appliances
Microwave, Range, Refrigerator
Subdivision
West Ave
Elementary school district
New Philadelphia CSD - 7906
Middle school district
New Philadelphia CSD - 7906
High school district
New Philadelphia CSD - 7906
Directions
Tuscarawas Ave to left on Miller. Right on 11th Drive to property. No sign
Standard status
Active Under Contract
APN
4304857002
Size
3,840 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W PR 1248 SE PR 1249 .175A (TRACT 3)
Tax Annual Amount
5957
Legal Description
W PR 1248 SE PR 1249 .175A (TRACT 3)
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2018
Floors in Building
1
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(330) 308-9278
Listed By:
Vera (Jane) Sulzener · License #374743
(330) 260-8855
Added: Apr 8
Changed: Sep 12
Last Checked: Sep 12 at 10:06AM
MLS# 5200029
Copyright © 2026 MLS Now. 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.
This quadplex consists of two duplex buildings totaling four residential units and 3,840 square feet. Built in 2018, each single-story unit includes an open-concept layout, two bedrooms, first-floor laundry, an attached one-car garage, and a full unfinished basement. Separate utilities serve each unit, and the buildings feature vinyl siding, asphalt and fiberglass roofing, forced-air electric heat, central air, and public water and sewer. Appliances include a range, refrigerator, and microwave.
The property occupies 0.34 acres in New Philadelphia, Ohio. Tenants pay all utilities, while the owner pays water for two units. Parking includes attached garages, a parking lot, and open parking areas. The configuration provides four similar residential units within two duplex structures.
The property occupies 0.34 acres in New Philadelphia, Ohio. Tenants pay all utilities, while the owner pays water for two units. Parking includes attached garages, a parking lot, and open parking areas. The configuration provides four similar residential units within two duplex structures.
Key Highlights
- Two duplex buildings configured as 4 residential units
- 3,840 SF property on a 0.34‑acre lot
- Built in 2018 with separate utilities for each unit
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
$31,757
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
5.38%
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%
$635,140
$635.1K
Cap Rate 7%
$453,671
$453.7K
Cap Rate 9%
$352,856
$352.9K
Market Conditions
NOI Build-Up for 3,840 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
$48.8K $12.72/SF
− Vacancy
−$3.5K −$0.91/SF
EGI
$45.4K $11.81/SF
− OpEx
−$13.6K −$3.54/SF
NOI
$31.8K $8.27/SF
Area
Tuscarawas County, OH
Vacancy
7.12%
Lease Rate
$12.72 /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%
$635,140
Cap Rate 7%
$453,671
Cap Rate 9%
$352,856
Alternative Uses
Best Use
Multifamily LT 5
$453.7K
$397.0K – $529.3K
NOI $31,757 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$401.9K
$351.7K – $468.9K
NOI $28,132 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$715.6K
$626.1K – $834.9K
NOI $50,091 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 44663, OH
25,601
Population
11,702
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
96.2 sq mi
ZIP Area
266
Density / Sq Mi
$62,383
Median Household Income
$36,495
Median Earnings
$859
Median Rent
$177,100
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four single-story units offer open layouts, laundry rooms, unfinished basements, and attached one-car garages.
Where is this quadplex located?
The property is located at 623 11th Drive NW New Philadelphia, OH.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Two duplex buildings configured as 4 residential units; 3,840 SF property on a 0.34‑acre lot; Built in 2018 with separate utilities for each unit
