New Ranch-Style
For Sale
$369,900
Pending
626 North Broad Street, Lancaster, OH 43130
Newly constructed ranch duplex with in-unit laundry and new appliances in both units.
Property Size2,390 SF
Days on Market140
Property Features for 626 North Broad Street
General Information
Standard status
Pending
Size
2,390 SF
Property subtype
Multi-Family / Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,422
Amenities
in-unit laundry room
Central Air
Forced Air
Yes
Building Details
Year Built
2025
Stories
1
Construction
ranch-style
Tenancy
Multi
Listing Agency:
Howard Hanna Real Estate Svcs
Listed By:
Kelly Abbott · License #2007003182
(614) 206-4675
Source:
Compass
Added: Apr 23
Changed: Aug 7
Last Checked: Jul 24 at 3:23PM
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 Howard Hanna Real Estate Svcs
Investment Insights
Based on property information with market context.
This newly constructed ranch-style duplex features two separate residential units. Unit A includes 2 bedrooms with walk-in closets and 2 full bathrooms, along with an open living room, a well-appointed kitchen, and a dedicated in-unit laundry room. Unit B offers 3 bedrooms and 2 full bathrooms, including a primary suite with a walk-in closet, plus a kitchen, a dedicated laundry room, and a comfortable living area.
Brand new appliances and washer/dryer sets have just been installed in both units. The property also provides ample off-street and on-street parking for residents and guests.
Both units are laid out on a single level, supporting straightforward day-to-day living within each unit’s private interior spaces.
Brand new appliances and washer/dryer sets have just been installed in both units. The property also provides ample off-street and on-street parking for residents and guests.
Both units are laid out on a single level, supporting straightforward day-to-day living within each unit’s private interior spaces.
Key Highlights
- Newly constructed ranch‑style duplex built in 2025 with central air and forced‑air heating.
- Unit A: 2 bedrooms, 2 full bathrooms, walk‑in closets in each bedroom, and 1,237 SF of living space.
- Unit A includes an in‑unit laundry room and kitchen with brand new appliances plus new washer/dryer sets.
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
$23,308
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
6.30%
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%
$466,160
$466.2K
Cap Rate 7%
$332,971
$333.0K
Cap Rate 9%
$258,978
$259.0K
Market Conditions
NOI Build-Up for 2,390 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
$35.9K $15.00/SF
− Vacancy
−$2.6K −$1.07/SF
EGI
$33.3K $13.93/SF
− OpEx
−$10.0K −$4.18/SF
NOI
$23.3K $9.75/SF
Area
Fairfield County, OH
Vacancy
7.12%
Lease Rate
$15.00 /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%
$466,160
Cap Rate 7%
$332,971
Cap Rate 9%
$258,978
Alternative Uses
Best Use
Multifamily LT 5
$333.0K
$291.4K – $388.5K
NOI $23,308 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$302.2K
$264.5K – $352.6K
NOI $21,157 @ 7.0% cap · market cap 5.72%
Theoretical Best
Warehouse
$481.7K
$421.5K – $562.0K
NOI $33,720 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,227
Businesses Nearby
Explore this area
Business Placement
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
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 - Newly constructed ranch duplex with in-unit laundry and new appliances in both units.
Where is this duplex located?
The property is located at 626 North Broad Street Lancaster, OH.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Newly constructed ranch‑style duplex built in 2025 with central air and forced‑air heating.; Unit A: 2 bedrooms, 2 full bathrooms, walk‑in closets in each bedroom, and 1,237 SF of living space.; Unit A includes an in‑unit laundry room and kitchen with brand new appliances plus new washer/dryer sets.
