Building Details

Year Built 1954

Listing Agency: Eric Gute, Associates Realty

Listed By: Real Estate Showcase RES Show Phone

Source: Resmarion

Added: Sep 11 Changed: Sep 24 Last Checked: Sep 24 at 9:13AM

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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 Eric Gute, Associates Realty

Investment Insights

Based on property information with market context.

This duplex contains 1,600 square feet and was built in 1954. The property includes updated kitchen and bathroom areas, with washer and dryer hookups provided in both units. One side is leased through 4/27, with the tenant responsible for utilities, while the other side is vacant and available for showings.

Set along a tree-lined side street, the property is minutes from shops and restaurants. Access to the occupied unit is available after the property is under contract. The two-unit layout provides separate living spaces within a single residential income property.

Key Highlights

• Duplex with 1,600 square feet
• Built in 1954
• Updated kitchen and bathroom areas

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

$16,965

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

7.38%

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%

$339,300 $339.3K

Cap Rate 7%

$242,357 $242.4K

Cap Rate 9%

$188,500 $188.5K

Market Conditions

NOI Build-Up for 1,600 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

$25.9K $16.20/SF

− Vacancy

−$1.7K −$1.05/SF

EGI

$24.2K $15.15/SF

− OpEx

−$7.3K −$4.54/SF

NOI

$17.0K $10.60/SF

Area

Franklin County, OH

Vacancy

6.50%

Lease Rate

$16.20 /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%

$339,300

Cap Rate 7%

$242,357

Cap Rate 9%

$188,500

Alternative Uses

Best Use

Multifamily LT 5

$242.4K

$212.1K – $282.8K (±1% cap)

NOI $16,965 @ 7.0% cap · market cap 7.38%

Second Best

Apartment 5plus

$236.2K

$206.7K – $275.6K (±1% cap)

NOI $16,534 @ 7.0% cap · market cap 7.19%

Theoretical Best

Specialty Retail

$326.2K

$285.4K – $380.6K (±1% cap)

NOI $22,834 @ 7.0% cap · market cap 9.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Electrical Service HVAC Service (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

818

Businesses Nearby

Explore this area Business Placement

Demographics for 43213, OH

35,105

Population

17,069

Households

2.1

Avg Household Size

37

Median Age

23%

College-Educated

90%

High-School Grad

10.3 sq mi

ZIP Area

3,408

Density / Sq Mi

$53,908

Median Household Income

$37,753

Median Earnings

$1,107

Median Rent

$197,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - One unit is occupied while the other is available for showings.

Where is this duplex located?

The property is located at 685 Valerie Ln Whitehall, OH.

What is the asking price?

The asking price for this property is $229,900.

What are key features of this property?

This property features: Duplex with 1,600 square feet; Built in 1954; Updated kitchen and bathroom areas