Historic Brick
New
For Sale
$385,000
7 E Main Street, Hayesville, OH 44838
ResidentialIncome, Hayesville, OH
Property Size2,880 SF
Lot Size0.08 Acres
Price / SF$133.68
Days on Market3
Property Features for 7 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
4
Rooms
Laundry Room, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1, Basement
Parking features
Carport
Appliances
BuiltInOven, Cooktop, Dishwasher, Disposal, Microwave, Refrigerator
Subdivision
Hayesville
Elementary school district
Hillsdale LSD - 302
Middle school district
Hillsdale LSD - 302
High school district
Hillsdale LSD - 302
Directions
South on State Route 60, East on E. Main St.
Standard status
Active
APN
O42-011-0-0079-00
Size
2,880 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
7 E MAIN ST R=11 LOT 95 ABATEMENT 75% FOR 10 YEARS FOR 1/1/2019 - 12/31/2028
Tax Annual Amount
871
Legal Description
7 E MAIN ST R=11 LOT 95 ABATEMENT 75% FOR 10 YEARS FOR 1/1/2019 - 12/31/2028
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1882
Floors in Building
2
Building materials
Brick, Glass, Concrete
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Group · RE/MAX International
(440) 333-1230
Listed By:
Dante DiBenedetto · License #2026001332
(440) 822-0918
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 12 at 12:06PM
MLS# 5244136
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 2,880-square-foot triplex occupies a 2-story brick building constructed in 1882. The property includes three apartments, mezzanine areas, a shared partially finished basement, common laundry, and a grand interior stairway. Units feature modern kitchens with custom cabinetry, granite countertops, stainless steel appliances, central HVAC, and separate electric service. Tall 14-foot ceilings, restored interior shutters, heavy timber floors, and original hardware-store shelving retain the building’s historic character.
The property sits on a 0.0799-acre parcel with a deep drive and 3-car carport. Public water and sewer serve the building, with natural gas heat and central air conditioning. The structure is listed on the National Register of Historic Places and is adjacent to the restored Village Hall and Opera House. Shopping, restaurants, and freeway access are stated to be less than 10 minutes away, while Mohican State Park is nearby.
The property sits on a 0.0799-acre parcel with a deep drive and 3-car carport. Public water and sewer serve the building, with natural gas heat and central air conditioning. The structure is listed on the National Register of Historic Places and is adjacent to the restored Village Hall and Opera House. Shopping, restaurants, and freeway access are stated to be less than 10 minutes away, while Mohican State Park is nearby.
Key Highlights
- Three fully rented apartments in a 2,880‑square‑foot historic building
- 1882 brick construction with National Register of Historic Places listing
- 2‑story building measuring 27x60 feet with 14‑foot ceilings on both floors
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
$26,291
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
6.83%
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%
$525,820
$525.8K
Cap Rate 7%
$375,586
$375.6K
Cap Rate 9%
$292,122
$292.1K
Market Conditions
NOI Build-Up for 2,880 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
$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 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%
$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
NOI $26,291 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$348.3K
$304.7K – $406.3K
NOI $24,378 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$543.5K
$475.6K – $634.1K
NOI $38,044 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased three-unit property with updated kitchens, private HVAC and shared laundry facilities.
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 fully rented apartments in a 2,880‑square‑foot historic building; 1882 brick construction with National Register of Historic Places listing; 2‑story building measuring 27x60 feet with 14‑foot ceilings on both floors
