Three-Unit Residential Income
For Sale
$369,000
541 & 547 E Main Street, Ravenna, OH 44266
MULTI_FAMILY - Ravenna, OH
Property Size2,208 SF
Lot Size1.06 Acres
Price / SF$167.12
Days on Market48
Property Features for 541 & 547 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Laundry Room, Bedroom 3, Bathroom 3, Bedroom 6, Bedroom 7, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Basement, Bathroom 1
Parking features
Garage, Driveway
Window features
Blinds
Interior features
Chandelier, EatInKitchen
Appliances
Dishwasher, Range, Refrigerator, Washer
Subdivision
Ravenna
Lot features
Back Yard, Flat, Level, Subdivided, Wooded
View
City
Elementary school district
Ravenna CSD - 6706
Middle school district
Ravenna CSD - 6706
High school district
Ravenna CSD - 6706
Directions
ROUTE 59
Standard status
Active
APN
31-349-03-00-147-002
Size
2,208 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DIV S LOT 49
Tax Annual Amount
2727
Legal Description
DIV S LOT 49
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Building materials
AluminumSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Simon & Salhany Realty
(330) 929-0707
Listed By:
Leslee T Salhany · License #320795
(330) 958-1220
Added: Jun 19
Changed: Aug 3
Last Checked: Aug 5 at 4:06AM
MLS# 5220288
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 for-sale package combines three residential income units on one property: a single-family home at the front and a duplex at the rear. The duplex includes two units with separate gas and electric service and shared access to a 3-car garage.
Unit 541A (left side) features a spacious living room and an eat-in kitchen, plus two bedrooms. Unit 541B (right side, second floor) includes a living room, dining room, kitchen, and washer and dryer, along with shared access to the 3-car garage.
The single-family home at 547 E Main Street is tenant-occupied and the tenant pays utilities. Interior features include multiple living and dining spaces, an office off the living room, a first-floor full bath with double sinks, a first-floor bedroom with a walk-in closet, and two additional bedrooms on the second floor, along with a decorative, non-functioning fireplace.
Unit 541A (left side) features a spacious living room and an eat-in kitchen, plus two bedrooms. Unit 541B (right side, second floor) includes a living room, dining room, kitchen, and washer and dryer, along with shared access to the 3-car garage.
The single-family home at 547 E Main Street is tenant-occupied and the tenant pays utilities. Interior features include multiple living and dining spaces, an office off the living room, a first-floor full bath with double sinks, a first-floor bedroom with a walk-in closet, and two additional bedrooms on the second floor, along with a decorative, non-functioning fireplace.
Key Highlights
- Package sale at 541 and 547 E Main Street includes a duplex and a front single‑family home
- Duplex has 2 units with separate gas and electric service and shared 3‑car garage access
- Unit 541A (left side) offers living room 13x18, eat‑in kitchen 10x19, primary bedroom 14x17, and second bedroom 10x17
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.1k | $13.20 |
| − Vacancy | −$1.7k | −$0.76 |
| EGI | $27.5k | $12.44 |
| − OpEx | −$8.2k | −$3.73 |
| NOI | $19.2k | $8.71 |
2,208 SF · lease $13.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$274.6K
$240.3K – $320.4K
NOI $19,221 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$254.1K
$222.4K – $296.5K
NOI $17,789 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$444.7K
$389.2K – $518.9K
NOI $31,132 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Explore this area
Business Placement
Demographics for 44266, OH
32,606
Population
15,036
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
355
Density / Sq Mi
$61,211
Median Household Income
$40,068
Median Earnings
$904
Median Rent
$159,900
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?
Triplex - Package includes a front single-family home and a rear duplex with separate gas and electric service and a shared 3-car garage.
Where is this triplex located?
The property is located at 541 & 547 E Main Street Ravenna, OH.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Package sale at 541 and 547 E Main Street includes a duplex and a front single‑family home; Duplex has 2 units with separate gas and electric service and shared 3‑car garage access; Unit 541A (left side) offers living room 13x18, eat‑in kitchen 10x19, primary bedroom 14x17, and second bedroom 10x17
