Two-Home Duplex
For Sale
Under Contract
$135,000
1664 Woods Road, Akron, OH 44306
ResidentialIncome, Akron, OH
Property Size1,253 SF
Lot Size0.85 Acres
Price / SF$107.74
Days on Market143
Property Features for 1664 Woods Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Laundry Room, Basement, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Subdivision
Richland Gardens
Lot features
Back Yard, Dead End, Flat, Front Yard, Landscaped, Level, Private, Many Trees, Wooded
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
Massillon Rd to Woods
Standard status
Active Under Contract
APN
6817526
Size
1,253 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TR 3 LOT E SUB 24 RICHLAND GDNS 1.000A
Tax Annual Amount
3947
Legal Description
TR 3 LOT E SUB 24 RICHLAND GDNS 1.000A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1923
Floors in Building
1
Building materials
AluminumSiding, Block, Frame, Glass, Plaster, WoodSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(330) 929-9278
Listed By:
Jessica Nader · License #2019004118
(330) 209-2008
Added: Apr 10
Changed: Aug 20
Last Checked: Aug 30 at 7:06PM
MLS# 5199736
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.
This duplex property comprises two homes on an approximately 0.8504-acre wooded lot. The residence at 1660 Woods Road has two bedrooms and one full bathroom, while 1664 Woods Road provides one bedroom and one bathroom. The combined property size is listed as 1,253 square feet, and both homes require cleanout and rehabilitation. Construction materials include aluminum siding, block, frame, glass, plaster, and wood siding. Heating is provided by forced-air natural gas systems, with window-unit cooling. The property was built in 1923.
Public water and public sewer serve the site. Asphalt and fiberglass roofing are present, and the recorded rooms include a basement and laundry room. The property is located in Akron, Ohio, with highway access identified in the surrounding area.
Public water and public sewer serve the site. Asphalt and fiberglass roofing are present, and the recorded rooms include a basement and laundry room. The property is located in Akron, Ohio, with highway access identified in the surrounding area.
Key Highlights
- Two homes on a wooded 0.8504‑acre lot
- 1660 Woods Road: 2 bedrooms and 1 full bathroom
- 1664 Woods Road: 1 bedroom and 1 bathroom
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
$11,475
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
8.50%
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%
$229,500
$229.5K
Cap Rate 7%
$163,929
$163.9K
Cap Rate 9%
$127,500
$127.5K
Market Conditions
NOI Build-Up for 1,253 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
$17.3K $13.80/SF
− Vacancy
−$899 −$0.72/SF
EGI
$16.4K $13.08/SF
− OpEx
−$4.9K −$3.92/SF
NOI
$11.5K $9.16/SF
Area
Akron, OH
Vacancy
5.20%
Lease Rate
$13.80 /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%
$229,500
Cap Rate 7%
$163,929
Cap Rate 9%
$127,500
Alternative Uses
Best Use
Multifamily LT 5
$163.9K
$143.4K – $191.3K
NOI $11,475 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$143.5K
$125.6K – $167.4K
NOI $10,045 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$307.5K
$269.1K – $358.8K
NOI $21,525 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 44306, OH
21,085
Population
10,424
Households
2
Avg Household Size
34
Median Age
9%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
2,540
Density / Sq Mi
$41,105
Median Household Income
$30,481
Median Earnings
$901
Median Rent
$77,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Wooded residential income property with public utilities and separate living spaces requiring rehabilitation.
Where is this duplex located?
The property is located at 1664 Woods Road Akron, OH.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Two homes on a wooded 0.8504‑acre lot; 1660 Woods Road: 2 bedrooms and 1 full bathroom; 1664 Woods Road: 1 bedroom and 1 bathroom
