Cash-Flowing Duplex with Central
1921 Preston Ave Akron, OH 44305
New
1921 Preston Ave, Akron, OH, 44305
$224,800
For Sale
$224,800
Fully occupied duplex with two renovated 2-bedroom, 1-bath units, each with central air and separate utilities.
Property Size1,440 SF
Price / SF$156.11
Days on Market3
Property Features for 1921 Preston Ave
General Information
- Standard status
- Active
- Size
- 1,440 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1963
Listing agency
Keller Williams Citywide
(440) 590-5219
Listed by
Mark A Colucci · License #2020004747
Source
Kmlkrealty
Added: Jul 20 Updated: Jul 21 at 5:02PM Checked: Jul 21 at 5:02PM
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 Keller Williams Citywide
Investment Insights
Based on property information with market context.
This fully occupied duplex features two renovated 2-bedroom, 1-bath units. Each unit is separately served with its own utilities and includes central air, supporting straightforward day-to-day management.
The property is currently generating gross rents of $1,950 per month, with the upper unit rented at $950/month and the lower unit rented at $1,000/month. Tenants benefit from a large balcony and private parking lot in a quiet residential setting on a private dead-end street.
For buyers looking to expand, the listing notes a potential package including all four duplexes on the same lot: 1919-1921 Preston Ave., 1925-1927 Preston Ave., 1931-1933 Preston Ave., and 1937-1939 Preston Ave.
The property is currently generating gross rents of $1,950 per month, with the upper unit rented at $950/month and the lower unit rented at $1,000/month. Tenants benefit from a large balcony and private parking lot in a quiet residential setting on a private dead-end street.
For buyers looking to expand, the listing notes a potential package including all four duplexes on the same lot: 1919-1921 Preston Ave., 1925-1927 Preston Ave., 1931-1933 Preston Ave., and 1937-1939 Preston Ave.
Key Highlights
- Cash‑flowing, fully occupied duplex built in 1963 with gross rents of $1,950/month
- Two renovated 2‑bedroom, 1‑bath units (top $950/month; bottom $1,000/month)
- Separate utilities and central air for each unit
Local 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 | $19.9k | $13.80 |
| − Vacancy | −$1.0k | −$0.72 |
| EGI | $18.8k | $13.08 |
| − OpEx | −$5.7k | −$3.92 |
| NOI | $13.2k | $9.16 |
1,440 SF · lease $13.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$188.4K
$164.8K – $219.8K
NOI $13,187 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,545 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$353.4K
$309.2K – $412.3K
NOI $24,737 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully occupied duplex with two renovated 2-bedroom, 1-bath units, each with central air and separate utilities.
Where is this duplex located?
The property is located at 1921 Preston Ave Akron, OH.
What is the asking price?
The asking price for this property is $224,800.
What are key features of this property?
This property features: Cash‑flowing, fully occupied duplex built in 1963 with gross rents of $1,950/month; Two renovated 2‑bedroom, 1‑bath units (top $950/month; bottom $1,000/month); Separate utilities and central air for each unit
