Brick Quadplex with
New
For Sale
$589,000
10004 Darrow Road, Twinsburg, OH 44087
Four occupied apartments have individual gas and electric meters, with utility costs assigned between residents and ownership.
Property Size3,864 SF
Price / SF$152.43
Days on Market3
Property Features for 10004 Darrow Road
General Information
Standard status
Active
Size
3,864 SF
Total Parking Spaces
6
Property subtype
Residential Income / Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
1
Additional Details
Gross Income
$63,600
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,021
Amenities
storage lockers
Central Air
Forced Air, Gas
Dryer, Range, Refrigerator, Washer
Yes
16
No
1
8
Common Area
Smoke Detectors
Asphalt, Fiberglass
2
Building Details
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
EXP Realty, LLC.
Listed By:
Frederic Belcher · License #2025001067
(330) 620-2858
Source:
Compass
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 26 at 2:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC.
Investment Insights
Based on property information with market context.
This 3,864-square-foot brick quadplex was built in 1965 and contains four apartments, each with two bedrooms and one bathroom. Every unit has a one-car garage and a second-floor storage locker measuring 2 feet by 4 feet. A separate two-car garage is also part of the property.
All four apartments are occupied, with leases extending into 2027. Each residence has its own gas and electric meter, and tenants pay those utility costs. Ownership covers water, sewer, trash, and gas and electric service for common areas.
All four apartments are occupied, with leases extending into 2027. Each residence has its own gas and electric meter, and tenants pay those utility costs. Ownership covers water, sewer, trash, and gas and electric service for common areas.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,864 square feet; built in 1965
- One‑car garage and a 2‑foot by 4‑foot storage locker for each apartment
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
$35,385
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
6.01%
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%
$707,700
$707.7K
Cap Rate 7%
$505,500
$505.5K
Cap Rate 9%
$393,167
$393.2K
Market Conditions
NOI Build-Up for 3,864 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
$53.3K $13.80/SF
− Vacancy
−$2.8K −$0.72/SF
EGI
$50.6K $13.08/SF
− OpEx
−$15.2K −$3.92/SF
NOI
$35.4K $9.16/SF
Area
Summit County, OH
Vacancy
5.20%
Lease Rate
$13.80 /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%
$707,700
Cap Rate 7%
$505,500
Cap Rate 9%
$393,167
Alternative Uses
Best Use
Multifamily LT 5
$505.5K
$442.3K – $589.8K
NOI $35,385 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$442.5K
$387.2K – $516.3K
NOI $30,978 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$948.3K
$829.7K – $1.11M
NOI $66,378 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
Demographics for 44087, OH
22,626
Population
9,146
Households
2.5
Avg Household Size
44
Median Age
47%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,257
Density / Sq Mi
$95,810
Median Household Income
$59,762
Median Earnings
$1,333
Median Rent
$290,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments have individual gas and electric meters, with utility costs assigned between residents and ownership.
Where is this quadplex located?
The property is located at 10004 Darrow Road Twinsburg, OH.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,864 square feet; built in 1965; One‑car garage and a 2‑foot by 4‑foot storage locker for each apartment
