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    1781 Cromwell Drive Akron, OH 44313

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    MULTI_FAMILY - Akron, OH

    Lot size:
    0.40 Acres
    Added:
    Apr 1, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 3 at 3:06 am

    Property Features for 1781 Cromwell Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    16
    Bathrooms
    14
    Rooms
    Bedroom 9, Bathroom 9, Bathroom 3, Bathroom 14, Bedroom 7, Basement, Bedroom 12, Bedroom 15, Bedroom 8, Bedroom 6, Bedroom 16, Bathroom 2, Bedroom 11, Bedroom 10, Bathroom 8, Bathroom 7, Bathroom 1, Bathroom 6, Bedroom 3, Bedroom 5, Bathroom 12, Bedroom 2, Bathroom 5, Bathroom 13, Bathroom 4, Bedroom 1, Bedroom 13, Bathroom 11, Bedroom 14, Bedroom 4, Bathroom 10
    Parking features
    Garage
    Standard status
    Active
    APN
    6726951
    Lot size
    0.40 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    PARK HTS EST #10 LOT 958 ALL
    TaxAnnualAmount
    9794

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1964
    Floors in Building
    2
    Building materials
    VinylSiding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Matthew P Kiko

    Listing agent Matthew P Kiko License #448128

    Listing office Kiko 2722 Fulton Dr. NW, Dover, OH

    Listing date Apr 1, 2026

    MLS# 5198350

    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.

    Overview

    Updated 7-Unit Townhouse Apartment Building

    This updated 7-unit townhouse apartment building is located in West Akron, OH. Built in 1964 and situated on a 0.40-acre lot adjacent to Sandrun Metro Park, the property features asphalt parking. The building has a good rental history, with gross rents of $97,312 in 2024 and $112,200 in 2025. The units are a mix of long-term and short-term rentals. All units have 2 or 3 bedrooms with 1 1/2 baths and a one-car garage. One unit is rented for $1,120 per month plus utilities. The other units are Airbnb and Furnished Finder rentals and will be sold with furniture and appliances. The property has gas furnaces and water heaters, with separate electric for each unit. The landlord is responsible for common electric, water, and trash. The property is suitable for investors and offers good cash flow. The property is being offered via online bidding, which begins Wednesday, April 8, 2026, at 9:00 AM, and live on-site bidding will begin Thursday, April 9, 2026, at 12:30 PM.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.571727
    Latitude
    41.126112

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    FAQs

    What type of property is this?
    Apartment building - West Akron 7-unit townhouse with rental history and updates.
    Where is this apartment building located?
    The property is located at 1781 Cromwell Drive Akron, OH.
    What are key features of this property?
    This property features: High Gross Rental Income: Expect substantial returns with $112,200 projected for 2025.; 7‑Unit Townhouse Apartment Building: Offers multiple income streams and scalability.; Mix of Rental Strategies: Flexibility through long‑term and short‑term (Airbnb/Furnished Finder) rentals.
    (330) 327-9617
    We can help!
    Listing Contact
    Matthew P Kiko
    Real Estate License ID: 448128
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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