Two-Unit Duplex with
New
For Sale
$225,000
813 S Nickelplate Street, Louisville, OH 44641
ResidentialIncome, Louisville, OH
Property Size1,872 SF
Lot Size0.30 Acres
Price / SF$120.19
Days on Market1
Property Features for 813 S Nickelplate Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Laundry Room, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3
Parking features
Garage
Appliances
Range, Refrigerator
Subdivision
Louisville
Lot features
Corner Lot
Elementary school district
Louisville CSD - 7607
Middle school district
Louisville CSD - 7607
High school district
Louisville CSD - 7607
Directions
Ravenna to South on Nickelplate
Standard status
Active
APN
03602718
Size
1,872 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2344 WH
Tax Annual Amount
1996
Legal Description
2344 WH
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Amenities
laundry
Building Details
Year built
1974
Floors in Building
2
Building materials
AluminumSiding, WoodSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Legacy Group Realty · Keller Williams Realty
(330) 433-6005
Listed By:
Andy Alayamini · License #2008001683
(330) 323-5864
Added: Aug 24
Last Checked: Aug 24 at 3:06PM
MLS# 5237946
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,872-square-foot duplex, built in 1974, contains two residences with matching layouts of two bedrooms and one bathroom. Each unit includes a one-car garage, electric baseboard heat, wall-unit cooling, a range, and a refrigerator. Laundry machines are located in a shared lower-level area. Aluminum and wood siding, an asphalt roof, public water, and public sewer complete the property’s core improvements.
Located at 813 S Nickelplate Street in Louisville, Ohio, the property occupies 0.2994 acres. The landlord provides lawn care and covers water and sewer service, while tenants pay electric, heat, and trash expenses. Both units are occupied by long-term tenants, with each tenancy extending approximately 10 years or more.
Located at 813 S Nickelplate Street in Louisville, Ohio, the property occupies 0.2994 acres. The landlord provides lawn care and covers water and sewer service, while tenants pay electric, heat, and trash expenses. Both units are occupied by long-term tenants, with each tenancy extending approximately 10 years or more.
Key Highlights
- Two‑unit duplex with 1,872 square feet, built in 1974
- Each unit includes 2 bedrooms, 1 bathroom, and a 1‑car garage
- Shared lower‑level laundry area serves both residences
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one bathroom, electric heat, and access to laundry in the lower level.
Where is this duplex located?
The property is located at 813 S Nickelplate Street 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: Two‑unit duplex with 1,872 square feet, built in 1974; Each unit includes 2 bedrooms, 1 bathroom, and a 1‑car garage; Shared lower‑level laundry area serves both residences
