Updated Fourplex with Private
New
For Sale
$359,000
150 Washington Boulevard, Youngstown, OH 44512
MULTI_FAMILY - Youngstown, OH
Property Size3,840 SF
Lot Size0.41 Acres
Price / SF$93.49
Days on Market2
Property Features for 150 Washington Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 8, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 1
Parking features
Carport
Subdivision
Southern Park Estates
Elementary school district
Boardman LSD - 5002
Middle school district
Boardman LSD - 5002
High school district
Boardman LSD - 5002
Directions
McClurg to Southern Blvd. to Washington Blvd. to address.
Standard status
Active
APN
29-034-0-031.01-0
Size
3,840 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 50 100 X 180 SOUTHERN PARK ESTS
Tax Annual Amount
3898
Legal Description
LOT 50 100 X 180 SOUTHERN PARK ESTS
Utilities
Sewer type
Public Sewer
Heating system
Steam, Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
coin-operated washer and dryer
Building Details
Year built
1979
Floors in Building
2
Building materials
Brick
Roof type
Mansard, Asphalt
Listing Agency:
CENTURY 21 Lakeside Realty · Century 21 Real Estate
(234) 806-0004
Listed By:
Dawn R Nicholas · License #2001014344
(330) 565-1085
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 7 at 3:06PM
MLS# 5234538
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 brick fourplex contains 3,840 square feet on a 0.413-acre parcel and was built in 1979. Three units received updates within the past year, while the remaining unit provides room for further improvements. Each residence has access to a private enclosed carport sized for one vehicle; the structures are enclosed on all sides and can be completed with garage doors. An on-site coin-operated washer and dryer provides shared laundry service. Heating is provided by hot water and steam systems, with wall-unit cooling. The property is served by public water and public sewer and has an asphalt and mansard roof.
The property is located near hospitals, shopping, restaurants, and major roadways in the Boardman area of Youngstown. Its four-unit configuration, recent unit updates, private carports, and shared laundry amenities define the existing operating setup.
The property is located near hospitals, shopping, restaurants, and major roadways in the Boardman area of Youngstown. Its four-unit configuration, recent unit updates, private carports, and shared laundry amenities define the existing operating setup.
Key Highlights
- Fourplex with 3,840 square feet on 0.413 acres
- Three of four units updated within the past year
- Private enclosed carport for one vehicle per 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
$25,860
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
7.20%
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%
$517,200
$517.2K
Cap Rate 7%
$369,429
$369.4K
Cap Rate 9%
$287,333
$287.3K
Market Conditions
NOI Build-Up for 3,840 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
$39.2K $10.20/SF
− Vacancy
−$2.2K −$0.58/SF
EGI
$36.9K $9.62/SF
− OpEx
−$11.1K −$2.89/SF
NOI
$25.9K $6.73/SF
Area
Mahoning County, OH
Vacancy
5.68%
Lease Rate
$10.20 /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%
$517,200
Cap Rate 7%
$369,429
Cap Rate 9%
$287,333
Alternative Uses
Best Use
Multifamily LT 5
$369.4K
$323.3K – $431.0K
NOI $25,860 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$340.4K
$297.9K – $397.1K
NOI $23,828 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$724.6K
$634.1K – $845.4K
NOI $50,725 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
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?
Quadplex - Three units were updated within the past year, while the fourth offers additional improvement potential.
Where is this quadplex located?
The property is located at 150 Washington Boulevard Youngstown, OH.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Fourplex with 3,840 square feet on 0.413 acres; Three of four units updated within the past year; Private enclosed carport for one vehicle per residence
