Updated Duplex With Two-Car
For Sale
$235,000
Pending
1036-1038 Emma Avenue, Akron, OH 44302
ResidentialIncome, Akron, OH
Property Size2,678 SF
Lot Size0.14 Acres
Days on Market54
Property Features for 1036-1038 Emma Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Basement
Parking features
Garage, Open, Driveway
Appliances
Range, Refrigerator
Lot features
City Lot, Wooded
View
City
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
W Exchange to Burton to Emma Avenue
Standard status
Pending
APN
6730823
Size
2,678 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3066
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
shared laundry
front porch
back porch
partially fenced yard
additional storage
Building Details
Year built
1920
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt
Listing Agency:
EXP Realty, LLC.
(866) 212-4991
Listed By:
Catherine N Haller · License #2005014369
(330) 472-3261
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 30 at 2:06PM
MLS# 5226026
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 2,678-square-foot duplex, built in 1920, contains two separately metered residences with one apartment on each level. Each unit includes two bedrooms, one full bathroom, a kitchen, and a dining room; the upstairs unit also has an office or nook. Built-in cabinetry, storage, woodwork, and front and rear porches add functional and character details. Lower-level storage serves both apartments, with a walk-out basement and shared laundry area.
The property sits on a 0.1377-acre lot at 1036-1038 Emma Avenue in Akron’s West Akron/Highland Square area. Exterior improvements include a new roof, windows, sidewalks, garage door, insulation, fresh paint, updated electrical panels, and copper plumbing. A detached two-car garage, driveway, open parking, and partially fenced yard are included. Public water and sewer serve the property, with natural-gas forced-air heat and asphalt roofing.
The property sits on a 0.1377-acre lot at 1036-1038 Emma Avenue in Akron’s West Akron/Highland Square area. Exterior improvements include a new roof, windows, sidewalks, garage door, insulation, fresh paint, updated electrical panels, and copper plumbing. A detached two-car garage, driveway, open parking, and partially fenced yard are included. Public water and sewer serve the property, with natural-gas forced-air heat and asphalt roofing.
Key Highlights
- 2,678‑square‑foot duplex on a 0.1377‑acre lot
- Two units, each with 2 bedrooms and 1 full bath
- Separate utility meters for each residence
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
$21,470
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
9.14%
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%
$429,400
$429.4K
Cap Rate 7%
$306,714
$306.7K
Cap Rate 9%
$238,556
$238.6K
Market Conditions
NOI Build-Up for 2,678 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
$41.1K $15.36/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$39.0K $14.58/SF
− OpEx
−$17.6K −$6.56/SF
NOI
$21.5K $8.02/SF
Area
Akron, OH
Vacancy
5.10%
Lease Rate
$15.36 /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%
$429,400
Cap Rate 7%
$306,714
Cap Rate 9%
$238,556
Alternative Uses
Best Use
Multifamily LT 5
$350.3K
$306.6K – $408.7K
NOI $24,524 @ 7.0% cap · market cap 10.44%
Second Best
Apartment 5plus
$306.7K
$268.4K – $357.8K
NOI $21,470 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$657.2K
$575.1K – $766.7K
NOI $46,004 @ 7.0% cap · market cap 19.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 44302, OH
4,661
Population
3,011
Households
1.5
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
5,179
Density / Sq Mi
$45,323
Median Household Income
$37,989
Median Earnings
$758
Median Rent
$112,200
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?
Duplex - Two separately metered residences feature spacious layouts, porches, shared laundry, storage, and a partially fenced yard.
Where is this duplex located?
The property is located at 1036-1038 Emma Avenue Akron, OH.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 2,678‑square‑foot duplex on a 0.1377‑acre lot; Two units, each with 2 bedrooms and 1 full bath; Separate utility meters for each residence
