Two-Unit Duplex with Covered
New
For Sale
$150,000
1332-1334 Alphada Ave, Akron, OH 44310
Each residence offers two bedrooms, a full bath, and landlord-owned kitchen appliances.
Property Size1,440 SF
Price / SF$104.17
Days on Market7
Property Features for 1332-1334 Alphada Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Building Details
Year Built
1964
Listing Agency:
Keller Williams Chervenic Rlty
(330) 620-5372
Listed By:
Lesa Lillibridge · License #2010003459
Source:
Kmlkrealty
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 17 at 5:24PM
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 Chervenic Rlty
Investment Insights
Based on property information with market context.
Built in 1964, this 1,440-square-foot duplex at 1332-1334 Alphada Ave includes two separate residences. Each unit features two bedrooms, a full bathroom with a tub and shower combination, a generously sized living room, and an open connection to the kitchen and dining area. Refrigerators and stoves convey with the property. Washer and dryer hookups are available in both units, while the window air-conditioning units belong to the tenants.
The residences have separate gas and electric meters, with tenants responsible for those services; water is not separately metered. Boiler-based hot-water heat serves both units, and both boilers are operational, with one newer than the other. Covered front patios or balconies, ample parking, and a rear yard with tenant-maintained vegetable gardens provide additional property features. Current leases and tenants remain in place, and the property is offered as-is.
The residences have separate gas and electric meters, with tenants responsible for those services; water is not separately metered. Boiler-based hot-water heat serves both units, and both boilers are operational, with one newer than the other. Covered front patios or balconies, ample parking, and a rear yard with tenant-maintained vegetable gardens provide additional property features. Current leases and tenants remain in place, and the property is offered as-is.
Key Highlights
- Two‑unit duplex with 1,440 SF of total property size
- Each unit includes 2 bedrooms and 1 full bathroom
- Built in 1964 with operational boiler‑based hot‑water heat
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
$13,187
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
8.79%
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%
$263,740
$263.7K
Cap Rate 7%
$188,386
$188.4K
Cap Rate 9%
$146,522
$146.5K
Market Conditions
NOI Build-Up for 1,440 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
$19.9K $13.80/SF
− Vacancy
−$1.0K −$0.72/SF
EGI
$18.8K $13.08/SF
− OpEx
−$5.7K −$3.92/SF
NOI
$13.2K $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%
$263,740
Cap Rate 7%
$188,386
Cap Rate 9%
$146,522
Alternative Uses
Best Use
Multifamily LT 5
$188.4K
$164.8K – $219.8K
NOI $13,187 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,545 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$353.4K
$309.2K – $412.3K
NOI $24,737 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Explore this area
Business Placement
Demographics for 44310, OH
24,984
Population
11,074
Households
2.3
Avg Household Size
35
Median Age
14%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
4,030
Density / Sq Mi
$38,912
Median Household Income
$32,593
Median Earnings
$925
Median Rent
$91,400
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 - Each residence offers two bedrooms, a full bath, and landlord-owned kitchen appliances.
Where is this duplex located?
The property is located at 1332-1334 Alphada Ave Akron, OH.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,440 SF of total property size; Each unit includes 2 bedrooms and 1 full bathroom; Built in 1964 with operational boiler‑based hot‑water heat
