Brick Duplex with Two-Car
New
For Sale
$234,900
2337 38th Street NW, Canton, OH 44709
ResidentialIncome, Canton, OH
Property Size2,856 SF
Lot Size0.27 Acres
Price / SF$82.25
Days on Market5
Property Features for 2337 38th Street NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 1, Bedroom 4, Basement, Bathroom 2
Parking features
Garage
Interior features
EatInKitchen
Appliances
Range, Refrigerator
Elementary school district
Plain LSD - 7615
Middle school district
Plain LSD - 7615
High school district
Plain LSD - 7615
Directions
38th St NW between Cleveland Ave NW and Whipple Ave NW
Standard status
Active
APN
05200997
Size
2,856 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
29 NW .29A
Tax Annual Amount
2301
Legal Description
29 NW .29A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating), Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1969
Floors in Building
2
Building materials
Brick, VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Edge Realty · RE/MAX International
(330) 236-5100
Listed By:
Debbie L Ferrante · License #2010000047
(330) 958-8394
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 7 at 11:06PM
MLS# 5240578
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 2,856-square-foot duplex, built in 1969, includes two residential units and a detached two-car garage on a 0.2704-acre parcel. The larger unit has updated flooring, fresh paint, and a kitchen with new countertops, a stainless-steel sink, and a new faucet. Its layout includes a spacious living room, dining room, eat-in kitchen, two bedrooms, a full bathroom, finished lower-level recreation room, and utility room. The second unit is occupied and offers a similar arrangement with a smaller kitchen.
The property is located at 2337 38th Street NW in Canton, Ohio, within Stark County. Construction includes brick and vinyl siding, with central air, natural-gas and electric heating systems, an asphalt and fiberglass roof, public water, and public sewer. The owner pays water, sewer, and trash service, while tenants pay their own gas and electric utilities.
The property is located at 2337 38th Street NW in Canton, Ohio, within Stark County. Construction includes brick and vinyl siding, with central air, natural-gas and electric heating systems, an asphalt and fiberglass roof, public water, and public sewer. The owner pays water, sewer, and trash service, while tenants pay their own gas and electric utilities.
Key Highlights
- Two‑unit duplex with 2,856 square feet of building area
- 0.2704‑acre parcel with a detached two‑car garage
- Larger unit includes refreshed flooring, fresh paint, and kitchen updates
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
$20,918
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
8.91%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 2,856 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
$39.4K $13.80/SF
− Vacancy
−$1.4K −$0.48/SF
EGI
$38.0K $13.32/SF
− OpEx
−$17.1K −$5.99/SF
NOI
$20.9K $7.32/SF
Area
Stark County, OH
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Multifamily LT 5
$341.3K
$298.6K – $398.2K
NOI $23,890 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 8.91%
Theoretical Best
Retail
$745.7K
$652.5K – $870.0K
NOI $52,197 @ 7.0% cap · market cap 22.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 44709, OH
18,509
Population
9,218
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,191
Density / Sq Mi
$53,144
Median Household Income
$34,941
Median Earnings
$818
Median Rent
$149,400
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 - Two-unit property with refreshed interiors, finished lower-level space, and public water and sewer service.
Where is this duplex located?
The property is located at 2337 38th Street NW Canton, OH.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,856 square feet of building area; 0.2704‑acre parcel with a detached two‑car garage; Larger unit includes refreshed flooring, fresh paint, and kitchen updates
