Building Details

Buildings 1

Listing Agency: Key Realty LTD Show Phone

Listed By: Michael Lorenzen · License #2020000278 Show Phone

Source: Exprealty

Added: Oct 17 Changed: Oct 19 Last Checked: Oct 19 at 2:26PM

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Investment Insights

Based on property information with market context.

This 2,232-square-foot duplex in Woodville contains two separate living spaces on a 0.44-acre lot. The lower unit has two bedrooms, one bathroom, a basement, a full kitchen, and living and dining rooms. The upper unit has one bedroom, one bathroom, a full kitchen, a living room, and a front porch. Separate furnaces and utilities serve each unit, and the upper unit has built-in air conditioning.

Updates include new carpet, windows, and fresh paint. The lower unit’s water heater dates to 2018; the upper unit’s dates to 2022. A 24-by-24-foot garage is shared between the units. The upper unit’s refrigerator and range remain; the lower unit has no appliances.

Key Highlights

• Two‑unit duplex with separate utilities and furnaces
• 2,232 square feet on a 0.44‑acre lot
• Lower unit: 2 bedrooms, 1 bathroom, basement, full kitchen, living and dining rooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,965

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$339,300 $339.3K

Cap Rate 7%

$242,357 $242.4K

Cap Rate 9%

$188,500 $188.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,232 SF

Gross rent

$25.4K $11.40/SF

− Vacancy

−$1.2K −$0.54/SF

EGI

$24.2K $10.86/SF

− OpEx

−$7.3K −$3.26/SF

NOI

$17.0K $7.60/SF

Area

Sandusky County, OH

Vacancy

4.75%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

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 8.70%

Second Best

Apartment 5plus

$211.9K

$185.4K – $247.2K (±1% cap)

NOI $14,834 @ 7.0% cap · market cap 7.61%

Theoretical Best

Office A

$421.2K

$368.6K – $491.4K (±1% cap)

NOI $29,484 @ 7.0% cap · market cap 15.12%

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

Property Analytics

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Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

85

Businesses Nearby

Explore this area Business Placement

Demographics for 43469, OH

3,014

Population

1,270

Households

2.4

Avg Household Size

43

Median Age

30%

College-Educated

96%

High-School Grad

22.9 sq mi

ZIP Area

132

Density / Sq Mi

$87,292

Median Household Income

$58,211

Median Earnings

$582

Median Rent

$187,700

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?

Duplex - Two living spaces have individual utility services and furnaces, with built-in air conditioning in the upper unit.

Where is this duplex located?

The property is located at 712 Lueke Ave Woodville, OH.

What is the asking price?

The asking price for this property is $195,000.

What are key features of this property?

This property features: Two‑unit duplex with separate utilities and furnaces; 2,232 square feet on a 0.44‑acre lot; Lower unit: 2 bedrooms, 1 bathroom, basement, full kitchen, living and dining rooms