Building Details

Year Built 1964

Listing Agency: Garden Gate Realty Inc. Show Phone

Listed By: Streetlight Realty Show Phone

Source: Streetlightrealtors

Added: Oct 16 Last Checked: Oct 19 at 6:48AM

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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 Garden Gate Realty Inc.

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Investment Insights

Based on property information with market context.

This 3,366-square-foot quadplex contains four apartments: two with two bedrooms and one bathroom, and two with one bedroom and one bathroom. The property was built in 1964 and is located at 908 W Lake Ave in New Carlisle, Ohio.

Shopping, dining, and everyday services are nearby, with access to surrounding communities.

Key Highlights

• Four apartment units
• Two 2‑bedroom, 1‑bathroom apartments
• Two 1‑bedroom, 1‑bathroom apartments

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,424

Cap Rate

3.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$228,480 $228.5K

Cap Rate 7%

$163,200 $163.2K

Cap Rate 9%

$126,933 $126.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,366 SF

Gross rent

$17.8K $5.28/SF

− Vacancy

−$1.5K −$0.43/SF

EGI

$16.3K $4.85/SF

− OpEx

−$4.9K −$1.45/SF

NOI

$11.4K $3.39/SF

Area

Clark County, OH

Vacancy

8.17%

Lease Rate

$5.28 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$228,480

Cap Rate 7%

$163,200

Cap Rate 9%

$126,933

Alternative Uses

Best Use

Multifamily LT 5

$163.2K

$142.8K – $190.4K (±1% cap)

NOI $11,424 @ 7.0% cap · market cap 3.57%

Second Best

Apartment 5plus

$141.4K

$123.7K – $165.0K (±1% cap)

NOI $9,899 @ 7.0% cap · market cap 3.09%

Theoretical Best

Specialty Retail

$938.9K

$821.5K – $1.10M (±1% cap)

NOI $65,721 @ 7.0% cap · market cap 20.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Electrical Service (Bike/Boat/Book/etc) Store Daycare Center Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

322

Businesses Nearby

Explore this area Business Placement

Demographics for 45344, OH

17,042

Population

7,174

Households

2.4

Avg Household Size

41

Median Age

18%

College-Educated

89%

High-School Grad

70.0 sq mi

ZIP Area

243

Density / Sq Mi

$71,627

Median Household Income

$42,084

Median Earnings

$854

Median Rent

$159,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - The residential income property offers a mix of one- and two-bedroom layouts for varied household needs.

Where is this quadplex located?

The property is located at 908 W Lake Ave New Carlisle, OH.

What is the asking price?

The asking price for this property is $320,000.

What are key features of this property?

This property features: Four apartment units; Two 2‑bedroom, 1‑bathroom apartments; Two 1‑bedroom, 1‑bathroom apartments