Duplex with Detached Workshop
For Sale
$370,000
Pending
1088 Buena Vista Dr, Akron, OH 44319
Two-unit property with separate entrances, extensive auxiliary space, and parking serving both residences.
Property Size3,964 SF
Days on Market453
Property Features for 1088 Buena Vista Dr
General Information
Standard status
Pending
Size
3,964 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,564
Building Details
Buildings
1
Listing Agency:
REMAX Diversity Real Estate Group LLC
(330) 414-2248
Listed By:
Brian Tebelak · License #2014000814
(330) 414-2248
Source:
Exprealty
Added: Jun 4, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:41PM
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 REMAX Diversity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This duplex contains 3,964 square feet of living space across two residential units on a lot exceeding one-half acre. The property includes multiple entrances, kitchens, living and dining areas, sunroom space, bathrooms, and basement areas with additional rooms and a kitchenette. A new roof was installed on the main home in Spring 2021.
A detached 24 x 40 garage adds gas heat, a lean-to, and workshop space. Parking is available at both the front and rear of the property. The address is near shopping, highway access, and schools in the Springfield LSD.
A detached 24 x 40 garage adds gas heat, a lean-to, and workshop space. Parking is available at both the front and rear of the property. The address is near shopping, highway access, and schools in the Springfield LSD.
Key Highlights
- 3,964 SF duplex with two residential units
- Lot size exceeds one‑half acre
- Detached 24 x 40 garage with lean‑to and workshop
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
$31,780
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
8.59%
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%
$635,600
$635.6K
Cap Rate 7%
$454,000
$454.0K
Cap Rate 9%
$353,111
$353.1K
Market Conditions
NOI Build-Up for 3,964 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
$60.9K $15.36/SF
− Vacancy
−$3.1K −$0.78/SF
EGI
$57.8K $14.58/SF
− OpEx
−$26.0K −$6.56/SF
NOI
$31.8K $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%
$635,600
Cap Rate 7%
$454,000
Cap Rate 9%
$353,111
Alternative Uses
Best Use
Multifamily LT 5
$518.6K
$453.8K – $605.0K
NOI $36,301 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$454.0K
$397.3K – $529.7K
NOI $31,780 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$972.8K
$851.2K – $1.13M
NOI $68,096 @ 7.0% cap · market cap 18.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 44319, OH
21,833
Population
9,950
Households
2.2
Avg Household Size
48
Median Age
30%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,149
Density / Sq Mi
$74,781
Median Household Income
$43,662
Median Earnings
$1,081
Median Rent
$188,400
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 separate entrances, extensive auxiliary space, and parking serving both residences.
Where is this duplex located?
The property is located at 1088 Buena Vista Dr Akron, OH.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 3,964 SF duplex with two residential units; Lot size exceeds one‑half acre; Detached 24 x 40 garage with lean‑to and workshop
