Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    188 Franklin Ave Mansfield, OH 44902

    View on Map
    Sponsored
    For Sale
    $79,900

    Duplex S/S, Multi-Family - Mansfield, OH

    Lot size:
    0.08 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 17 at 6:06 pm

    Property Features for 188 Franklin Ave

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room
    Bedrooms
    6
    Bathrooms
    2
    APN
    0270608409000
    Parking features
    On Street
    Interior features
    Smoke Alarm, Wall/Wall Carpet
    Exterior features
    Paved Street
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Lot size
    0.08 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    John Pavlansky
    John Pavlansky

    Dream Huge Realty LLC (419) 566-8637

    Listing agent John Pavlansky (419) 528-8260

    Listing date Mar 17, 2026

    MLS# 9072707 Listing URL

    Copyright © 2026 Mansfield Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Mansfield Duplex Investment Opportunity

    This duplex in Mansfield presents an investment opportunity. Each unit features 3 bedrooms, 1 bathroom, a large living room, and a formal dining area. The property has a metal roof, mostly PVC and PEX plumbing, and newer furnaces in each unit. One unit was extensively updated in 2025 with new flooring, carpet, kitchen cabinets, countertops, tile backsplash, bathroom vanity, fresh interior paint, light fixtures, some interior doors, new gutters, and a metal roof over the front porch. This unit also includes main-floor laundry, a pantry, a stove, and a refrigerator, and is currently rented for $895 per month. The other unit is rented for $550 per month on a month-to-month lease and needs some TLC. The landlord pays for trash and water (water split), while tenants pay for gas and electric. On-street parking is available. This property is suitable for investors or owner-occupants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.5106
    Latitude
    40.7647

    Nearby Similar for Sale

    • New
      $394,000
      13,000 SF

      Historic Downtown Mansfield Commercial Building

      Four-story, 13,000 SF historic building in downtown Mansfield.
      160 Main St, Mansfield, OH 44902
      View Details
    • New
      $850,000
      12,132 SF

      Partially-Leased Office Building For Sale

      Partially-leased office building ideal for investors or owner occupants.
      370 Cline Ave, Mansfield, OH 44903
      View Details
    • $699,900
      16,496 SF

      Mixed-Use Commercial Property with Hardware Store

      Prime mixed-use property with established hardware store and multiple income streams.
      15 Main St, Lexington, OH 44904
      View Details
    • New
      $349,000
      1,433 SF

      Mansfield Commercial Property on Ashland

      Versatile commercial property suitable for restaurant, bar, or cafeteria.
      1896 Ashland Rd, Mansfield, OH 44905
      View Details
    • $449,500
      1,712 SF

      Downtown Mansfield Creative Office Space

      Turnkey creative space in historic downtown Mansfield, Ohio.
      20 Mulberry St, Mansfield, OH 44902
      View Details
    • $154,900
      2,713 SF

      Versatile Commercial Property in Mansfield

      Adaptable commercial building suitable for retail, office, or religious use.
      1400 Paradise View St, Mansfield, OH 44905
      View Details
    • $985,000
      9,600 SF

      Prime Retail Location in Mansfield

      Fully equipped restaurant and retail spaces in high-traffic area.
      1041 Park Ave West, Mansfield, OH 44906
      View Details
    • $339,900
      7,980 SF

      Versatile Commercial Property in Mansfield

      7,980 sq ft commercial building with automotive garage.
      530 Pearl Ave, Mansfield, OH 44905
      View Details
    • New
      $368,900
      2,400 SF

      Ontario Commercial Building For Sale

      Professional building in Ontario, ideal for office or retail.
      25 Lexington Springmill Rd, Mansfield, OH 44906
      View Details
    • $375,000
      9,039 SF

      Bar and Training Center

      Bar with liquor license and wrestling training center.
      1901 Ashland Rd, Mansfield, OH 44905
      View Details
    • New
      Contact for pricing
      6,272 SF

      Mansfield Office Building For Lease

      Office building for lease near Ohio Health Mansfield.
      370 Cline Ave, Mansfield, OH 44903
      View Details
    • $599,900
      1,854 SF

      Turnkey Pizza Business Opportunity

      Established pizza business for sale in Mansfield's industrial park.
      1794 Harrington Memorial Rd, Mansfield, OH 44890
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in Mansfield with updated unit and investment potential.
    Where is this duplex located?
    The property is located at 188 Franklin Ave Mansfield, OH.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: - Duplex investment opportunity with potential for increased rental income.; - One unit extensively updated in 2025 with **new flooring, kitchen, bathroom, and more.**; - Newer furnaces in each unit and mostly PVC & PEX plumbing.
    (567) 303-4714
    Request Owner's contact information
    188 Franklin Ave Mansfield, OH 44902
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    188 Franklin Ave
    Mansfield, OH 44902
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    188 Franklin Ave Mansfield, OH 44902
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Pavlansky
    John Pavlansky
    Real Estate License ID: 2022000938
    (567) 303-4714 (419) 528-8260
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!