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    803 Chestnut St Mount Vernon, OH 43050

    For Sale
    $170,000

    Three-unit building, excellent cash flow.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a three-unit apartment building located at 803 W Chestnut Street, Mount Vernon, Ohio, 43050. Built in 1900, this property sits on a generous 8,712 square foot lot and is offered at an asking price of $170,000. The building comprises three one-bedroom, one-bathroom units, each generating consistent rental income. Current monthly rents are $500, $550, and $575, respectively, providing a strong cash flow potential for the new owner. The property's price per square foot is $82.05. The owner currently covers water, sewer, and trash expenses. This multifamily property presents a compelling investment opportunity in a desirable location within Mount Vernon, offering a blend of historical charm and solid financial returns. The property's size and unit configuration make it an ideal addition to any investment portfolio, providing a stable income stream and potential for future appreciation. The location in Knox County offers easy access to local amenities and transportation. This is a turnkey investment ready for immediate income generation. Serious inquiries are encouraged.

    Property Features for 803 Chestnut St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1900
    Units
    3

    HighLights

    • Three‑unit apartment building in Mount Vernon, OH, on an 8,712 sq ft lot.
    • Asking price: $170,000.
    • Three 1‑bed/1‑bath units with monthly rents of $500, $550, and $575.
    • Price per square foot: $82.05.
    • Owner pays water, sewer, and trash.
    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
    -82.4957277
    Latitude
    40.3952606

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit building, excellent cash flow.
    Where is this multifamily property located?
    The property is located at 803 Chestnut St Mount Vernon, OH.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: Three-unit apartment building in Mount Vernon, OH, on an 8,712 sq ft lot.; Asking price: $170,000.; Three 1-bed/1-bath units with monthly rents of $500, $550, and $575.
    Request Owner's contact information
    803 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
    803 Chestnut St Mount Vernon, OH 43050
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