Updated Duplex with Attached
For Sale
$315,000
825 Comanche Ln, Tipp City, OH 45371
Two-unit property with separate entrances, private driveways, and updated interior finishes.
Property Size2,190 SF
Price / SF$143.84
Days on Market9
Property Features for 825 Comanche Ln
General Information
Standard status
Active
Size
2,190 SF
Property subtype
Residential Income
Listing Agency:
Howard Hanna Real Estate Serv
(937) 435-1177
Listed By:
Jonathan H Murray
(937) 654-7355
Source:
Exprealty
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 23 at 12:20AM
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 Howard Hanna Real Estate Serv
Investment Insights
Based on property information with market context.
This 2,190-square-foot duplex combines a larger three-bedroom residence with a separate one-bedroom apartment. The primary unit includes 2.5 baths, an attached 2-car garage, new luxury vinyl flooring, renovated bathrooms, and a kitchen outfitted with new cabinetry and granite countertops. The second residence provides 1 bedroom and 1 bath in a shotgun-style layout, along with its own entrance and driveway.
The property is positioned near downtown Tipp City, I-75, and local schools. Separate access for both units supports distinct residential use, including an owner-occupied arrangement with an additional dwelling or two-unit rental operation.
The property is positioned near downtown Tipp City, I-75, and local schools. Separate access for both units supports distinct residential use, including an owner-occupied arrangement with an additional dwelling or two-unit rental operation.
Key Highlights
- 2,190‑square‑foot duplex with two separate residential units
- Main residence includes 3 bedrooms, 2.5 baths, and an attached 2‑car garage
- Renovated kitchen with new cabinetry and granite countertops
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
$19,850
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
6.30%
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%
$397,000
$397.0K
Cap Rate 7%
$283,571
$283.6K
Cap Rate 9%
$220,556
$220.6K
Market Conditions
NOI Build-Up for 2,190 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
$30.2K $13.80/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$28.4K $12.95/SF
− OpEx
−$8.5K −$3.88/SF
NOI
$19.9K $9.06/SF
Area
Miami County, OH
Vacancy
6.17%
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%
$397,000
Cap Rate 7%
$283,571
Cap Rate 9%
$220,556
Alternative Uses
Best Use
Multifamily LT 5
$283.6K
$248.1K – $330.8K
NOI $19,850 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$247.1K
$216.2K – $288.3K
NOI $17,299 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$446.3K
$390.6K – $520.7K
NOI $31,244 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 45371, OH
23,205
Population
9,301
Households
2.5
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
51.2 sq mi
ZIP Area
453
Density / Sq Mi
$89,425
Median Household Income
$53,051
Median Earnings
$1,154
Median Rent
$272,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate entrances, private driveways, and updated interior finishes.
Where is this duplex located?
The property is located at 825 Comanche Ln Tipp City, OH.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,190‑square‑foot duplex with two separate residential units; Main residence includes 3 bedrooms, 2.5 baths, and an attached 2‑car garage; Renovated kitchen with new cabinetry and granite countertops
