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    708 Chestnut St Mount Vernon, OH 43050

    For Sale
    $140,000

    Two-unit apartment building, excellent cash flow.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This charming two-unit apartment building located at 708 W Chestnut Street in Mount Vernon, Ohio, presents a fantastic investment opportunity. Built in 1900, this property sits on a 6,534 square foot lot and is offered at $140,000, translating to $89.86 per square foot. The building consists of two distinct units: an upper unit featuring one bedroom and one bathroom, currently renting for $650 per month; and a lower unit with two bedrooms and one bathroom, commanding a monthly rent of $800. This translates to a strong potential rental income stream. The property's address is 708 W Chestnut Street, Mount Vernon, OH 43050. The property is classified as a duplex/triplex/quadruplex and is an excellent addition to any investor's portfolio. This is a rare opportunity to acquire a well-located, income-producing property in a desirable area. The property's age suggests potential for future value appreciation through renovations or upgrades. Serious inquiries are encouraged to explore this promising investment further. The property is conveniently located in Knox County, Ohio.

    Property Features for 708 Chestnut St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1900
    Units
    2

    HighLights

    • Asking price: $140,000
    • Multifamily property, specifically a duplex, with two units.
    • Price per square foot: $89.86.
    • Built in 1900, situated on a 6,534 square foot lot.
    • Located at 708 W Chestnut Street, Mount Vernon, OH 43050.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Knox
    State
    Ohio
    Longitude
    -82.4951145
    Latitude
    40.3948444

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit apartment building, excellent cash flow.
    Where is this multifamily property located?
    The property is located at 708 Chestnut St Mount Vernon, OH.
    What is the asking price?
    The asking price for this property is $140,000.
    What are key features of this property?
    This property features: Asking price: $140,000; Multifamily property, specifically a duplex, with two units.; Price per square foot: $89.86.
    Request Owner's contact information
    708 Chestnut St Mount Vernon, OH 43050
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    Mount Vernon, OH 43050
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    Realmo Value Estimation

    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.

    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.

    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
    708 Chestnut St Mount Vernon, OH 43050
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