Side-by-Side Duplex
For Sale
$269,900
8811 County Road 9 2, Delta, OH 43515
Two single-story residences offer separate utilities, garages, and private outdoor areas.
Property Size2,160 SF
Price / SF$124.95
Days on Market18
Property Features for 8811 County Road 9 2
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Residential Income
Listing Agency:
Harmony Realty Group
(419) 740-3225
Listed By:
Jenetta Wallace
(419) 460-5090
Source:
Exprealty
Added: Aug 18
Changed: Sep 3
Last Checked: Sep 1 at 10:26PM
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 Harmony Realty Group
Investment Insights
Based on property information with market context.
This duplex property contains two approximately 1,080-square-foot residences on a 3.01-acre parcel outside Delta, Ohio. Each single-story unit includes an open floor plan, three bedrooms, two full bathrooms, a full crawl space, separate utilities, and an attached one-car garage. Front decks, distinct rear-yard areas, and individual storage sheds provide dedicated outdoor and storage space for each residence.
The property is located at 8811 County Road 9-2, with access to major routes and the Ohio Turnpike. Electric service is supplied by Tri-County Electric. Water softeners were replaced approximately two years ago, while the roof, furnaces, and central air systems are approximately 15 years old. Both units are tenant occupied, and the sale is subject to existing tenant rights and rental agreements.
The property is located at 8811 County Road 9-2, with access to major routes and the Ohio Turnpike. Electric service is supplied by Tri-County Electric. Water softeners were replaced approximately two years ago, while the roof, furnaces, and central air systems are approximately 15 years old. Both units are tenant occupied, and the sale is subject to existing tenant rights and rental agreements.
Key Highlights
- Two approximately 1,080‑square‑foot units on 3.01 acres
- Each unit has 3 bedrooms and 2 full bathrooms
- Attached 1‑car garage, full crawl space, and separate utilities per unit
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
$19,724
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
7.31%
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%
$394,480
$394.5K
Cap Rate 7%
$281,771
$281.8K
Cap Rate 9%
$219,156
$219.2K
Market Conditions
NOI Build-Up for 2,160 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
$29.3K $13.56/SF
− Vacancy
−$1.1K −$0.52/SF
EGI
$28.2K $13.04/SF
− OpEx
−$8.5K −$3.91/SF
NOI
$19.7K $9.13/SF
Area
Fulton County, OH
Vacancy
3.80%
Lease Rate
$13.56 /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%
$394,480
Cap Rate 7%
$281,771
Cap Rate 9%
$219,156
Alternative Uses
Best Use
Multifamily LT 5
$281.8K
$246.6K – $328.7K
NOI $19,724 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$260.0K
$227.5K – $303.4K
NOI $18,202 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$359.5K
$314.5K – $419.4K
NOI $25,163 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 43515, OH
8,174
Population
3,366
Households
2.4
Avg Household Size
40
Median Age
16%
College-Educated
97%
High-School Grad
81.8 sq mi
ZIP Area
100
Density / Sq Mi
$77,654
Median Household Income
$41,278
Median Earnings
$834
Median Rent
$175,200
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 - Two single-story residences offer separate utilities, garages, and private outdoor areas.
Where is this duplex located?
The property is located at 8811 County Road 9 2 Delta, OH.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two approximately 1,080‑square‑foot units on 3.01 acres; Each unit has 3 bedrooms and 2 full bathrooms; Attached 1‑car garage, full crawl space, and separate utilities per unit
