Building Details

Building Size 2,880 SF

Year Built 1882

Buildings 1

Stories 2

Construction Italianate

Listing Agency: RE/MAX Real Estate Group

Listed By: Dante Dibenedetto · License #2026001332 Show Phone

Source: Coccarealestate

Added: Oct 19 Changed: Oct 25 Last Checked: Oct 26 at 3:40AM

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Investment Insights

Based on property information with market context.

This 2,880-square-foot, two-story brick triplex dates to 1882 and is listed on the National Register of Historic Places. Its three apartments include two first-floor one-bedroom, one-bath units and an upper-level residence with two bedrooms and two baths. Each apartment has a mezzanine, modern kitchen, central HVAC, and separate electric service. The units share a partially finished basement with laundry; the upstairs apartment also features a south-facing balcony. Interior details include 14-foot ceilings, restored shutters, and original hardware-store shelving in the lower units.

The property sits in central Hayesville, next to the restored Village Hall and Opera House. A restaurant, market, and coffee shop are across the street. Shopping, dining, and freeway access are less than 10 minutes away, while Mohican State Park is a short drive from the property. A tax abatement is included.

Key Highlights

• Three apartments: two one‑bedroom, one‑bath units and one two‑bedroom, two‑bath unit
• 2,880‑square‑foot, two‑story brick building constructed in 1882
• Listed on the National Register of Historic Places

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,291

Cap Rate

6.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,820 $525.8K

Cap Rate 7%

$375,586 $375.6K

Cap Rate 9%

$292,122 $292.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,880 SF

Gross rent

$39.7K $13.80/SF

− Vacancy

−$2.2K −$0.76/SF

EGI

$37.6K $13.04/SF

− OpEx

−$11.3K −$3.91/SF

NOI

$26.3K $9.13/SF

Area

Ashland County, OH

Vacancy

5.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,820

Cap Rate 7%

$375,586

Cap Rate 9%

$292,122

Alternative Uses

Best Use

Multifamily LT 5

$375.6K

$328.6K – $438.2K (±1% cap)

NOI $26,291 @ 7.0% cap · market cap 6.83%

Second Best

Apartment 5plus

$348.3K

$304.7K – $406.3K (±1% cap)

NOI $24,378 @ 7.0% cap · market cap 6.33%

Theoretical Best

Office A

$543.5K

$475.6K – $634.1K (±1% cap)

NOI $38,044 @ 7.0% cap · market cap 9.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

3

Residential units

100%

Occupancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Explore this area Business Placement

Demographics for 44838, OH

258

Population

85

Households

3

Avg Household Size

35

Median Age

13%

College-Educated

91%

High-School Grad

0.3 sq mi

ZIP Area

860

Density / Sq Mi

$56,250

Median Household Income

$37,679

Median Earnings

$750

Median Rent

$136,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Three apartments combine individual HVAC and electric service with shared basement laundry and a three-car carport.

Where is this triplex located?

The property is located at 7 E Main Street Hayesville, OH.

What is the asking price?

The asking price for this property is $385,000.

What are key features of this property?

This property features: Three apartments: two one‑bedroom, one‑bath units and one two‑bedroom, two‑bath unit; 2,880‑square‑foot, two‑story brick building constructed in 1882; Listed on the National Register of Historic Places