Duplex With 3.5-Car
New
For Sale
$245,000
121 E Ralston Ave, Akron, OH 44301
Two-unit residential property with separate upper and lower living spaces and off-street parking.
Property Size2,424 SF
Price / SF$101.07
Days on Market7
Property Features for 121 E Ralston Ave
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1954
Buildings
1
Listing Agency:
Keller Williams Legacy Group Realty
(330) 907-4102
Listed By:
Shelley Parsons · License #2021005339
Source:
Kmlkrealty
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 8 at 8:08AM
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 Legacy Group Realty
Investment Insights
Based on property information with market context.
This 2,424-square-foot duplex, built in 1954, includes two distinct residential units. The upper apartment contains three bedrooms and one full bathroom, while the lower apartment provides one bedroom and one full bathroom. The layout supports separate occupancy within a single residential income property.
A private driveway leads to a 3.5-car garage, adding substantial on-site parking along with storage or workspace capacity. Located at 121 E. Ralston Ave. in Akron, the property can accommodate an owner-occupant arrangement or continued use as a two-unit rental property.
A private driveway leads to a 3.5-car garage, adding substantial on-site parking along with storage or workspace capacity. Located at 121 E. Ralston Ave. in Akron, the property can accommodate an owner-occupant arrangement or continued use as a two-unit rental property.
Key Highlights
- 2,424‑square‑foot duplex built in 1954
- Upper unit with 3 bedrooms and 1 full bath
- Lower unit with 1 bedroom and 1 full bath
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
$22,198
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
9.06%
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%
$443,960
$444.0K
Cap Rate 7%
$317,114
$317.1K
Cap Rate 9%
$246,644
$246.6K
Market Conditions
NOI Build-Up for 2,424 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
$33.5K $13.80/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$31.7K $13.08/SF
− OpEx
−$9.5K −$3.92/SF
NOI
$22.2K $9.16/SF
Area
Akron, 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%
$443,960
Cap Rate 7%
$317,114
Cap Rate 9%
$246,644
Alternative Uses
Best Use
Multifamily LT 5
$317.1K
$277.5K – $370.0K
NOI $22,198 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$277.6K
$242.9K – $323.9K
NOI $19,434 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$594.9K
$520.5K – $694.0K
NOI $41,641 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 44301, OH
14,364
Population
6,859
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
3,990
Density / Sq Mi
$52,134
Median Household Income
$34,553
Median Earnings
$990
Median Rent
$103,400
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-unit residential property with separate upper and lower living spaces and off-street parking.
Where is this duplex located?
The property is located at 121 E Ralston Ave Akron, OH.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 2,424‑square‑foot duplex built in 1954; Upper unit with 3 bedrooms and 1 full bath; Lower unit with 1 bedroom and 1 full bath
