Turnkey Duplex with Detached
For Sale
Contact for pricing
7 North Sutphin Street, Middletown, OH 45042
Turnkey duplex with renovated upper unit, replaced roof, and income-producing basement space with separate entrance.
Property Size2,841 SF
Price / SF$105.24
Days on Market64
Property Features for 7 North Sutphin Street
General Information
Standard status
Active
Size
2,841 SF
Total Parking Spaces
2
Property subtype
Multifamily, Land
Occupancy
100%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1917
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Luana King · License #2024005617
Source:
Crexi
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 24 at 2:31PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex offers a turnkey setup with two rental units and a full basement designed for additional use. The upstairs unit has been recently fully renovated, and the roof was replaced in 2020. Gross monthly income is stated as $1,200 for one unit, with the other rented at $1,300 per month. The full basement includes a separate entrance and already has a kitchenette and a full bathroom, providing the foundational layout for expanded income use.
The property is located in Middletown, with access to nearby dining on Central Ave described as minutes away and an approximately 10-minute drive to I-75. Exterior amenities include a 2-car detached garage and a fenced-in patio area.
For buyers, this configuration supports options for an owner-occupant arrangement by living in one unit while collecting rent from the other. The recently renovated upper unit and roof replacement can help reduce near-term major exterior/structure concerns. The basement’s separate entrance, kitchenette, and full bathroom may appeal to operators looking for flexible space that can function alongside the two existing rental units.
The property is located in Middletown, with access to nearby dining on Central Ave described as minutes away and an approximately 10-minute drive to I-75. Exterior amenities include a 2-car detached garage and a fenced-in patio area.
For buyers, this configuration supports options for an owner-occupant arrangement by living in one unit while collecting rent from the other. The recently renovated upper unit and roof replacement can help reduce near-term major exterior/structure concerns. The basement’s separate entrance, kitchenette, and full bathroom may appeal to operators looking for flexible space that can function alongside the two existing rental units.
Key Highlights
- Middletown duplex built in 1917 with current gross monthly income of $1,200 from one unit and $1,300 from the other
- Upstairs unit has been recently fully renovated
- Roof replaced in 2020
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.1k | $17.64 |
| − Vacancy | −$3.8k | −$1.32 |
| EGI | $46.4k | $16.32 |
| − OpEx | −$20.9k | −$7.34 |
| NOI | $25.5k | $8.97 |
2,841 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$395.8K
$346.3K – $461.8K
NOI $27,707 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$561.7K
$491.5K – $655.4K
NOI $39,321 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 45042, OH
26,972
Population
12,324
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
49.2 sq mi
ZIP Area
548
Density / Sq Mi
$66,732
Median Household Income
$41,800
Median Earnings
$950
Median Rent
$192,400
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 - Turnkey duplex with renovated upper unit, replaced roof, and income-producing basement space with separate entrance.
Where is this duplex located?
The property is located at 7 North Sutphin Street Middletown, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Middletown duplex built in 1917 with current gross monthly income of $1,200 from one unit and $1,300 from the other; Upstairs unit has been recently fully renovated; Roof replaced in 2020
