Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Clean Duplex Near I-75 Access Title is generated by Realmo AI

    905 W Melrose Avenue, Findlay, OH 45840

    View on Map
    Claim this Listing
    For Sale
    $195,000

    Two-bedroom condo with easy access to I-75.

    Type:Condominium
    Added:
    Apr 23, 2025
    Days on Market:
    404
    Last Refresh:
    May 19 at 8:39 pm

    Property Features for 905 W Melrose Avenue

    General Information

    Standard status
    Active
    Property subtype
    Condominium

    Building Details

    Year Built
    1992

    We can help!

    Listing Contact
    Monica Metzger

    Listing agent Monica Metzger

    Listing office BHHS Koehler Realty

    Listing date Apr 23, 2025

    Source Kw

    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 BHHS Koehler Realty

    HighLights

    • No HOA fees.
    • Easy I‑75 access.
    • Large living room with cathedral ceiling and gas fireplace.
    • Nicely sized owner's bedroom with walk‑in closet and bath.
    • Open eat‑in kitchen with big windows for natural lighting.
    • Newer roof (2011).

    Overview

    This is a clean and easy-to-maintain two-bedroom, two-bath condo with convenient access to I-75. The property features a large living room with a cathedral ceiling and a gas fireplace. The open eat-in kitchen includes large windows that provide ample natural lighting. The owner's bedroom is generously sized and features a walk-in closet and a private bath. A deck provides space to enjoy the summer season. The roof was replaced in 2011. There are no HOA fees and no services covered. The tax card currently covers both units, and the division is to be determined. Financing issues have caused the property to be brought back on the market. VA financing is not suitable for this condo.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Findlay
    County
    Hancock
    State
    Ohio
    Longitude
    -83.6666187
    Latitude
    41.0657408

    Nearby Similar for Sale

    • $1,900,000

      Established Retail Center on Corridor

      High-visibility retail center in Findlay, Ohio, with redevelopment potential.
      1016 Tiffin Ave, Findlay, OH 45840
      View Details
    • $739,000

      Brick Office Building with Parking

      Large office building with ample parking and high traffic.
      321 S Blanchard St Findlay, OH 45840
      View Details
    • $559,000

      Medical Condo Overlooking Lake Cascades

      Medical condo with flexible space near I-75 and downtown.
      1725 Western Avenue C Findlay, OH 45840
      View Details
    • $1,480,000

      High-Traffic Commercial Building For Sale

      12-unit commercial building in high-traffic area with investment potential.
      1100 Croy Dr, Findlay, OH, 45840-6730
      View Details
    • $559,000

      Medical Condo Overlooking Lake Cascades

      Medical condo with flexible space near I-75 and downtown.
      C-1725 Western Ave, Findlay, OH
      View Details
    • $750,000
      900 SF

      Apartment Buildings Near University

      Two-building apartment complex near University of Findlay, fully occupied.
      300-310 Allen Ave, Findlay, OH 45840
      View Details
    • $799,900

      Prime Business Opportunity in Findlay

      Business opportunity in a great location with leased and open space.
      413 N Main St, Findlay, OH, 45840-3541
      View Details
    • $1,747,000
      4,689 SF

      Retail Space Available For Lease

      Retail space for lease with highway signage available.
      912 Interstate Dr, Findlay, OH
      View Details
    • $9,818,000
      32,742 SF

      Findlay Office Building For Sale

      32,742 SqFt office building with 7.85% CAP rate.
      15840 Medical Dr S, Findlay, OH 45840
      View Details
    • $899,000

      Retail Property with Included Inventory

      Retail property for sale with existing business and included inventory.
      10283 W Us Route 224, Findlay, OH, 45840-1935
      View Details
    • $172,500

      Findlay Duplex with Porches

      Charming duplex in Findlay with separate utilities and porches.
      416 1/2 Lima Avenue, Findlay, OH 45840
      View Details
    • $299,900
      4,770 SF

      Commercial Opportunity on Foulke Avenue

      Mixed-use commercial property available for sale.
      518 W Foulke Ave, Findlay, OH 45840
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-bedroom condo with easy access to I-75.
    Where is this duplex located?
    The property is located at 905 W Melrose Avenue Findlay, OH.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: No HOA fees.; Easy I‑75 access.; **Large living room with cathedral ceiling and gas fireplace.**
    (419) 722-4745
    We can help!
    Listing Contact
    Monica Metzger
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    905 W Melrose Avenue, Findlay, OH 45840
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!