Brick Ranch
For Sale
$259,000
Pending
1645 California Avenue, Louisville, OH 44641
MULTI_FAMILY - Louisville, OH
Property Size1,666 SF
Lot Size0.34 Acres
Days on Market44
Property Features for 1645 California Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 3, Basement
Parking features
Garage
Appliances
Range, Refrigerator
Subdivision
City/Louisville
Elementary school district
Louisville CSD - 7607
Middle school district
Louisville CSD - 7607
High school district
Louisville CSD - 7607
Directions
From Easton St NE to California Ave
Standard status
Pending
APN
03602540
Size
1,666 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2271 WH
Tax Annual Amount
2826
Legal Description
2271 WH
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Building materials
Brick
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Edge Realty · RE/MAX International
(330) 236-5100
Listed By:
Christina Hoff · License #2024005572
(330) 806-3616
Added: Jun 24
Changed: Aug 1
Last Checked: Aug 6 at 8:06PM
MLS# 5221305
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained brick ranch duplex built in 1973, offered as a strong owner-occupant or rental opportunity. Each unit includes two bedrooms, one full bathroom, a spacious living area, and an attached garage. A full unfinished basement is included for both units, with washer and dryer hookups, offering practical storage and potential for additional use.
The property sits on a 0.3444-acre lot and contains 1,666 square feet of building area. Heating is forced air with natural gas, and cooling is provided by central air. Tenants pay all utilities. One side is vacant while the other is occupied, and 24-hour notice is required to show the occupied side.
With public water and public sewer, plus an asphalt and fiberglass shingle roof and appliances including a range and refrigerator, the duplex is designed for low-maintenance ownership and functional daily living.
The property sits on a 0.3444-acre lot and contains 1,666 square feet of building area. Heating is forced air with natural gas, and cooling is provided by central air. Tenants pay all utilities. One side is vacant while the other is occupied, and 24-hour notice is required to show the occupied side.
With public water and public sewer, plus an asphalt and fiberglass shingle roof and appliances including a range and refrigerator, the duplex is designed for low-maintenance ownership and functional daily living.
Key Highlights
- Built in 1973 brick ranch duplex with attached garages
- Each unit offers two bedrooms and one full bathroom
- Unfinished full basements for both units with washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,936
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,720
$278.7K
Cap Rate 7%
$199,086
$199.1K
Cap Rate 9%
$154,844
$154.8K
Market Conditions
NOI Build-Up for 1,666 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.6K $12.36/SF
− Vacancy
−$684 −$0.41/SF
EGI
$19.9K $11.95/SF
− OpEx
−$6.0K −$3.58/SF
NOI
$13.9K $8.36/SF
Area
Stark County, OH
Vacancy
3.32%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,720
Cap Rate 7%
$199,086
Cap Rate 9%
$154,844
Alternative Uses
Best Use
Multifamily LT 5
$199.1K
$174.2K – $232.3K
NOI $13,936 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$174.3K
$152.5K – $203.4K
NOI $12,202 @ 7.0% cap · market cap 4.71%
Theoretical Best
Retail
$435.0K
$380.6K – $507.5K
NOI $30,448 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 44641, OH
20,399
Population
8,412
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
54.9 sq mi
ZIP Area
372
Density / Sq Mi
$78,128
Median Household Income
$42,035
Median Earnings
$834
Median Rent
$199,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two bedrooms per unit, attached garages, and unfinished basements with washer/dryer hookups.
Where is this duplex located?
The property is located at 1645 California Avenue Louisville, OH.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Built in 1973 brick ranch duplex with attached garages; Each unit offers two bedrooms and one full bathroom; Unfinished full basements for both units with washer and dryer hookups
