Residential Income Property with
For Sale
$224,000
Pending
8 Chatham Street, Norwalk, OH 44857
Interior features include electric baseboard heating, ceiling fans, and a crawl space.
Property Size1,707 SF
Days on Market20
Property Features for 8 Chatham Street
General Information
Standard status
Pending
Size
1,707 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,863
Amenities
Ceiling Fan(s)
Baseboard, Electric
Crawl Space
Range, Refrigerator
Detached, Garage, Off Street, Paved
Building Details
Buildings
1
Listing Agency:
RE/MAX Quality Realty
Listed By:
Frank Van Dresser · License #2001016429
(419) 379-1208
Source:
Evrealestate
Added: Sep 26
Changed: Oct 10
Last Checked: Oct 14 at 10:49PM
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 RE/MAX Quality Realty
Investment Insights
Based on property information with market context.
Located at 8 Chatham Street in Norwalk, Ohio, this residential income property includes a detached garage with off-street paved parking. Interior features include electric baseboard heat and ceiling fans, with a crawl space below. A range and refrigerator are also included.
Key Highlights
- Detached garage with off‑street paved parking
- Electric baseboard heat and ceiling fans
- Range and refrigerator included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,785
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,700
$275.7K
Cap Rate 7%
$196,929
$196.9K
Cap Rate 9%
$153,167
$153.2K
Market Conditions
NOI Build-Up for 1,707 SF
Gross rent
$27.2K $15.96/SF
− Vacancy
−$2.2K −$1.28/SF
EGI
$25.1K $14.68/SF
− OpEx
−$11.3K −$6.61/SF
NOI
$13.8K $8.08/SF
Area
Huron County, OH
Vacancy
8.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,700
Cap Rate 7%
$196,929
Cap Rate 9%
$153,167
Alternative Uses
Best Use
Apartment 5plus
$196.9K
$172.3K – $229.8K
NOI $13,785 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$354.8K
$310.4K – $413.9K
NOI $24,835 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 44857, OH
23,619
Population
10,579
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
93%
High-School Grad
81.6 sq mi
ZIP Area
289
Density / Sq Mi
$62,227
Median Household Income
$42,100
Median Earnings
$795
Median Rent
$170,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Interior features include electric baseboard heating, ceiling fans, and a crawl space.
Where is this residential income property located?
The property is located at 8 Chatham Street Norwalk, OH.
What is the asking price?
The asking price for this property is $224,000.
What are key features of this property?
This property features: Detached garage with off‑street paved parking; Electric baseboard heat and ceiling fans; Range and refrigerator included
