Two-Unit Duplex With
For Sale
$225,000
813 S Nickelplate St, Louisville, OH 44641
Income property with separate residences, shared lower-level laundry, and tenant-paid electric, heat, and trash service.
Property Size1,872 SF
Price / SF$120.19
Days on Market9
Property Features for 813 S Nickelplate St
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$1,996
Amenities
on-site laundry
Listing Agency:
Keller Williams Legacy Group Realty
(330) 323-5864
Listed By:
Andy Alayamini · License #C2008001683
(330) 323-5864
Source:
Exprealty
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 7:38PM
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 Keller Williams Legacy Group Realty
Investment Insights
Based on property information with market context.
This Louisville duplex contains 1,872 square feet with two residential units, each offering two bedrooms, one bathroom, and a one-car garage. Heating is electric, and each unit uses wall-mounted air-conditioning equipment. Laundry machines are located in a shared lower-level common area.
The landlord handles lawn care along with water and sewer service, while residents pay for electric, heat, and trash. Both apartments are occupied by long-term tenants, with each tenancy extending approximately 10 years or more. The property is located at 813 S Nickelplate St in Louisville, Ohio.
The landlord handles lawn care along with water and sewer service, while residents pay for electric, heat, and trash. Both apartments are occupied by long-term tenants, with each tenancy extending approximately 10 years or more. The property is located at 813 S Nickelplate St in Louisville, Ohio.
Key Highlights
- 1,872‑square‑foot duplex with 2 residential units
- Each unit includes 2 bedrooms, 1 bathroom, and a 1‑car garage
- Electric heat and wall A/C units
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
$15,659
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
6.96%
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%
$313,180
$313.2K
Cap Rate 7%
$223,700
$223.7K
Cap Rate 9%
$173,989
$174.0K
Market Conditions
NOI Build-Up for 1,872 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
$23.1K $12.36/SF
− Vacancy
−$768 −$0.41/SF
EGI
$22.4K $11.95/SF
− OpEx
−$6.7K −$3.58/SF
NOI
$15.7K $8.36/SF
Area
Stark County, OH
Vacancy
3.32%
Lease Rate
$12.36 /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%
$313,180
Cap Rate 7%
$223,700
Cap Rate 9%
$173,989
Alternative Uses
Best Use
Multifamily LT 5
$223.7K
$195.7K – $261.0K
NOI $15,659 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$195.9K
$171.4K – $228.5K
NOI $13,711 @ 7.0% cap · market cap 6.09%
Theoretical Best
Retail
$488.8K
$427.7K – $570.2K
NOI $34,213 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 44641, OH
20,399
Population
8,412
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
54.9 sq mi
ZIP Area
372
Density / Sq Mi
$78,128
Median Household Income
$42,035
Median Earnings
$834
Median Rent
$199,300
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 - Income property with separate residences, shared lower-level laundry, and tenant-paid electric, heat, and trash service.
Where is this duplex located?
The property is located at 813 S Nickelplate St Louisville, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,872‑square‑foot duplex with 2 residential units; Each unit includes 2 bedrooms, 1 bathroom, and a 1‑car garage; Electric heat and wall A/C units
