Two-Unit
New
For Sale
$188,000
906 Race Drive, Troy, OH 45373
Remodeled interiors, a metal roof, and tenant-paid electric define this two-unit rental property.
Property Size1,840 SF
Price / SF$102.17
Days on Market6
Property Features for 906 Race Drive
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1944
Listing Agency:
Galbreath REALTORS
(937) 339-0508
Listed By:
Shari L Thokey · License #0000425195
Source:
Johnsonwebbrealty
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 31 at 4:32AM
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 Galbreath REALTORS
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Investment Insights
Based on property information with market context.
This Troy duplex contains two units within 1,840 square feet. Both units have been remodeled, and the building has a metal roof. A newer furnace serves the lower-level unit. Tenants pay their own electric costs, while water is included in the rent.
Key Highlights
- Two‑unit duplex with 1,840 square feet
- Both units have been remodeled
- Metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,678
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,560
$333.6K
Cap Rate 7%
$238,257
$238.3K
Cap Rate 9%
$185,311
$185.3K
Market Conditions
NOI Build-Up for 1,840 SF
Gross rent
$25.4K $13.80/SF
− Vacancy
−$1.6K −$0.85/SF
EGI
$23.8K $12.95/SF
− OpEx
−$7.1K −$3.88/SF
NOI
$16.7K $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 Rate 5%
$333,560
Cap Rate 7%
$238,257
Cap Rate 9%
$185,311
Alternative Uses
Best Use
Multifamily LT 5
$238.3K
$208.5K – $278.0K
NOI $16,678 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$207.6K
$181.7K – $242.2K
NOI $14,534 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$375.0K
$328.1K – $437.5K
NOI $26,250 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
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Business Placement
Demographics for 45373, OH
36,863
Population
15,691
Households
2.3
Avg Household Size
41
Median Age
33%
College-Educated
93%
High-School Grad
87.7 sq mi
ZIP Area
420
Density / Sq Mi
$78,278
Median Household Income
$47,859
Median Earnings
$933
Median Rent
$234,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled interiors, a metal roof, and tenant-paid electric define this two-unit rental property.
Where is this duplex located?
The property is located at 906 Race Drive Troy, OH.
What is the asking price?
The asking price for this property is $188,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,840 square feet; Both units have been remodeled; Metal roof
