948 St Warren, OH 44446
- Residential income homes
- 1,484 SF
Current Use by Public Records
- Residential income homes
Property Details for 948 St
- Year built
- 1920
- Property size
- 1,484 SF
- Property type
- Residential income homes
Description
This single-family rental property, located at 948 S St SE in Niles, Ohio (Trumbull County, zip code 44446), presents a compelling value-add investment opportunity. The 1,484 square foot, two-story home, built in 1920 and renovated in 2021, currently sits vacant. The property is classified as Class C and is being sold in distressed condition, requiring repairs to obtain an occupancy license. The city has deemed the property condemned; however, demolition is not planned, and repairs are understood to be sufficient to rectify the situation. The property features four bedrooms and two bathrooms and is conveniently located near Downtown Warren, suggesting potential for strong rental demand once renovated. The asking price is $15,000, representing a price per square foot of $10.11 and a price per unit of $15,000. While the current NOI is $0 due to vacancy, the pro-forma NOI is projected at $13,200, indicating a significant potential return on investment. The pro-forma cap rate is 88%. The property is offered as-is. Further details and photographs are available via a provided link. Serious inquiries only.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Trumbull
- State
- Ohio
- Longitude
- -80.8056
- Latitude
- 41.2342
