419 Spring StPiqua, OH 45356

Property Details for 419 Spring St

Year built

1920

Construction

FRAME

Lot size

0.15 AC

Property size (Sq ft)

1,740 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

N44-000310

APU

N44000310

Description

This exceptional mixed-use property, located at 419 Spring Street in Piqua, Ohio, presents a compelling investment opportunity. The building comprises two units: a remodeled two-bedroom first-floor apartment currently renting for $935 per month, and a second-floor unit renting for $600 per month. Both units are fully occupied, generating consistent rental income. Recent improvements to the first-floor unit include a complete remodel, featuring a new deck and back porch, a new shower surround, fresh paint, and updated flooring. The property's sewer drain underwent professional repair, with a liner installed by CPR Pipes to address hairline cracks discovered during a previous inspection. This well-maintained building is conveniently situated within easy reach of downtown Piqua, offering tenants convenient access to local amenities and businesses. The asking price for this attractive investment is $149,000. The property is classified as multifamily, office, and mixed-use, encompassing apartment building, traditional office, and creative office subtypes. This presents a versatile opportunity for investors seeking a blend of residential and commercial income streams in a thriving Ohio community. The property's zip code is 45356, and it's located in Miami County.

• CAP approach

  CAP return

  Valuation

  6%

  $333,879

  6.5%

  $308,196

  7%

  $286,182

• Comparable approach

  Method

  Valuation

  Relative Method

  $34,261

  Geo Method

  $34,261

• Alternative Use

  Use

  Valuation

  Residential

  $382,164

  Hospitality

  $350,060

  Educational

  $291,246

  Medical

  $301,262

  Retail

  $453,049

Location Insight

City

Piqua

County

Miami

State

Ohio

Latitude

40.1504

Longitude

-84.2378

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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