Remodeled Two-Unit
For Sale
$239,900
733 W Oakland Ave, Washington Court House, OH 43160
Each residence includes two bedrooms and one full bathroom, with current occupancy supporting continued rental operations.
Property Size1,300 SF
Price / SF$184.54
Days on Market44
Property Features for 733 W Oakland Ave
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
Alicia Sweazy, RE/MAX Partners
(740) 389-2000
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 30 at 4:37PM
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 Alicia Sweazy, RE/MAX Partners
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each arranged with two bedrooms and one full bathroom. The property offers approximately 1,300 square feet and was built in 1955, with extensive remodeling completed throughout the building.
Both units are currently occupied, and the existing tenants would like to remain. Major improvements have already been addressed, creating an updated residential asset with established rental history and limited near-term renovation needs based on the completed work.
Both units are currently occupied, and the existing tenants would like to remain. Major improvements have already been addressed, creating an updated residential asset with established rental history and limited near-term renovation needs based on the completed work.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom per unit
- Approximately 1,300 square feet
- Extensively remodeled throughout
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
$11,664
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
4.86%
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%
$233,280
$233.3K
Cap Rate 7%
$166,629
$166.6K
Cap Rate 9%
$129,600
$129.6K
Market Conditions
NOI Build-Up for 1,300 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
$17.9K $13.80/SF
− Vacancy
−$1.3K −$0.98/SF
EGI
$16.7K $12.82/SF
− OpEx
−$5.0K −$3.85/SF
NOI
$11.7K $8.97/SF
Area
Fayette County, OH
Vacancy
7.12%
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%
$233,280
Cap Rate 7%
$166,629
Cap Rate 9%
$129,600
Alternative Uses
Best Use
Multifamily LT 5
$166.6K
$145.8K – $194.4K
NOI $11,664 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$147.4K
$129.0K – $172.0K
NOI $10,317 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$362.6K
$317.3K – $423.1K
NOI $25,383 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 43160, OH
22,117
Population
10,012
Households
2.2
Avg Household Size
41
Median Age
14%
College-Educated
86%
High-School Grad
213.2 sq mi
ZIP Area
104
Density / Sq Mi
$57,475
Median Household Income
$38,296
Median Earnings
$802
Median Rent
$162,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms and one full bathroom, with current occupancy supporting continued rental operations.
Where is this duplex located?
The property is located at 733 W Oakland Ave Washington Court House, OH.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom per unit; Approximately 1,300 square feet; Extensively remodeled throughout
