Brick Duplex with Unfinished
New
For Sale
$249,900
523 Delford Avenue NW, Massillon, OH 44646
ResidentialIncome, Massillon, OH
Property Size2,046 SF
Lot Size0.36 Acres
Price / SF$122.14
Days on Market6
Property Features for 523 Delford Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1
Parking features
Garage, Paved or Surfaced
Subdivision
Linway Allotment 02
Elementary school district
Perry LSD Stark- 7614
Middle school district
Perry LSD Stark- 7614
High school district
Perry LSD Stark- 7614
Directions
.
Standard status
Active
APN
04304093
Size
2,046 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
76 WH LINWAY 2
Tax Annual Amount
2612
Legal Description
76 WH LINWAY 2
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1969
Floors in Building
3
Building materials
Brick, VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Legacy Group Realty · Keller Williams Realty
(330) 433-6005
Listed By:
Holly M Van Riper · License #2000000533
(330) 323-3872
Added: Sep 3
Last Checked: Sep 8 at 11:06AM
MLS# 5240143
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 contains two residential units, each arranged with 2 bedrooms and 1 full bathroom. The property offers 2,046 square feet of building area, with unfinished basements serving as additional below-grade space. Brick and vinyl siding form the exterior, while forced-air natural gas heating and central air provide the primary mechanical systems. The building was constructed in 1969 and includes garage parking with a paved surface.
Set on 0.3604 acres at 523 Delford Avenue NW in Massillon, the property is connected to public water and public sewer. Both units are currently rented, providing an operating residential income asset with an established tenant history.
Set on 0.3604 acres at 523 Delford Avenue NW in Massillon, the property is connected to public water and public sewer. Both units are currently rented, providing an operating residential income asset with an established tenant history.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom per unit
- 2,046 square feet of building area on a 0.3604‑acre lot
- Unfinished basements provide additional below‑grade space
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
$17,114
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
6.85%
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%
$342,280
$342.3K
Cap Rate 7%
$244,486
$244.5K
Cap Rate 9%
$190,156
$190.2K
Market Conditions
NOI Build-Up for 2,046 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
$25.3K $12.36/SF
− Vacancy
−$840 −$0.41/SF
EGI
$24.4K $11.95/SF
− OpEx
−$7.3K −$3.58/SF
NOI
$17.1K $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%
$342,280
Cap Rate 7%
$244,486
Cap Rate 9%
$190,156
Alternative Uses
Best Use
Multifamily LT 5
$244.5K
$213.9K – $285.2K
NOI $17,114 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$214.1K
$187.3K – $249.8K
NOI $14,986 @ 7.0% cap · market cap 6.00%
Theoretical Best
Retail
$534.2K
$467.4K – $623.2K
NOI $37,393 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 44646, OH
47,973
Population
20,817
Households
2.3
Avg Household Size
42
Median Age
25%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
1,666
Density / Sq Mi
$66,767
Median Household Income
$41,021
Median Earnings
$883
Median Rent
$181,600
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 - Fully rented two-unit property with two-bedroom layouts, unfinished basements, central air, and garage parking.
Where is this duplex located?
The property is located at 523 Delford Avenue NW Massillon, OH.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom per unit; 2,046 square feet of building area on a 0.3604‑acre lot; Unfinished basements provide additional below‑grade space
