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Listed by Traci Mendenhall Hartsock Realty
$ 9,999,315
Est. payment | /mo
$ 9,999,315
Est. payment | /mo
Key Details
Property Type Other Types
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
MLS Listing ID 311652
Style Other
HOA Y/N No
Property Sub-Type Single Family Residence
Source West Central Association of REALTORS® (OH)
Property Description
80-Door Portfolio Summary -- NW Ohio
Acquisition Price: $9,999,315.00 ($124,991.00 / door)
Asset Mix: 79 buildings / 80 doors (78 single-family homes + 1 duplex)
Occupancy: 95% stabilized (5% vacancy rate)
Financial & Return Metrics:
Average Rent / Door: $1,170.04/month
Gross Monthly Income: $93,603.20
Gross Annual Income: $1,123,238.40
Expense Ratio: 28.78%
Net Operating Income (NOI): $799,945.27 / year
Cap Rate: 8.00%
Estimated Annual Debt Service: $636,101.28
Debt Service Coverage Ratio (DSCR): 1.26
Net Monthly Cash Flow: $13,635.67
Annual Cash Flow: $163,628.04
Pre-Value-Add, Cash-on-Cash Return (CoC): 6.55%
Key Upside:
In-place cash flow from day one with ~95% occupancy.
Major value-add potential: While many of the units are stabilized, many units sit below market rent, offering immediate revenue expansion on lease renewals and operational mark-to-market.
Acquisition Price: $9,999,315.00 ($124,991.00 / door)
Asset Mix: 79 buildings / 80 doors (78 single-family homes + 1 duplex)
Occupancy: 95% stabilized (5% vacancy rate)
Financial & Return Metrics:
Average Rent / Door: $1,170.04/month
Gross Monthly Income: $93,603.20
Gross Annual Income: $1,123,238.40
Expense Ratio: 28.78%
Net Operating Income (NOI): $799,945.27 / year
Cap Rate: 8.00%
Estimated Annual Debt Service: $636,101.28
Debt Service Coverage Ratio (DSCR): 1.26
Net Monthly Cash Flow: $13,635.67
Annual Cash Flow: $163,628.04
Pre-Value-Add, Cash-on-Cash Return (CoC): 6.55%
Key Upside:
In-place cash flow from day one with ~95% occupancy.
Major value-add potential: While many of the units are stabilized, many units sit below market rent, offering immediate revenue expansion on lease renewals and operational mark-to-market.
Location
State OH
County Allen
Body of Water Public
Interior
Heating Other
Cooling Other
Exterior
Parking Features Varies by Unit
Garage No
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Other
Schools
School District Lima
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Nearby Locations
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Shaun & Megan Richardson
REALTOR® Lic# 2016001186 | Lic# 2024004146