2-Unit Duplex with
New
For Sale
$139,900
1500 28th Street NW, Canton, OH 44709
A two-bedroom main residence and a separate one-bedroom upper apartment provide distinct living spaces.
Property Size1,440 SF
Price / SF$97.15
Days on Market3
Property Features for 1500 28th Street NW
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1924
Buildings
1
Listing Agency:
RE/MAX Edge Realty
Listed By:
Debbie L Ferrante · License #C2010000047
(330) 958-8394
Source:
Carletonrealty
Added: Oct 1
Last Checked: Oct 1 at 2:21PM
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 RE/MAX Edge Realty
Investment Insights
Based on property information with market context.
Built in 1924, this 1,440-square-foot duplex contains two apartments. The main-level unit has two bedrooms, a full bathroom, a living room with a fireplace, a dining room, and a kitchen. Flooring updates include carpeting and linoleum. Upstairs, the second apartment includes a living room, an eat-in kitchen, one bedroom, and a full bathroom.
Residents of both units can access the basement for storage. The property is in Northwest Canton, near shopping, dining, and expressway access. The two-unit arrangement accommodates separate households within one building.
Residents of both units can access the basement for storage. The property is in Northwest Canton, near shopping, dining, and expressway access. The two-unit arrangement accommodates separate households within one building.
Key Highlights
- 1,440‑square‑foot duplex built in 1924
- Main‑level apartment has two bedrooms, a full bath, living room with fireplace, dining room, and kitchen
- Upper apartment includes one bedroom, a full bath, living room, and eat‑in kitchen
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
$12,045
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
8.61%
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%
$240,900
$240.9K
Cap Rate 7%
$172,071
$172.1K
Cap Rate 9%
$133,833
$133.8K
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
$17.8K $12.36/SF
− Vacancy
−$591 −$0.41/SF
EGI
$17.2K $11.95/SF
− OpEx
−$5.2K −$3.58/SF
NOI
$12.0K $8.36/SF
Area
Stark County, OH
Vacancy
3.32%
Lease Rate
$12.36 /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%
$240,900
Cap Rate 7%
$172,071
Cap Rate 9%
$133,833
Alternative Uses
Best Use
Multifamily LT 5
$172.1K
$150.6K – $200.8K
NOI $12,045 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$150.7K
$131.8K – $175.8K
NOI $10,547 @ 7.0% cap · market cap 7.54%
Theoretical Best
Retail
$376.0K
$329.0K – $438.6K
NOI $26,318 @ 7.0% cap · market cap 18.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 44709, OH
18,509
Population
9,218
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,191
Density / Sq Mi
$53,144
Median Household Income
$34,941
Median Earnings
$818
Median Rent
$149,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - A two-bedroom main residence and a separate one-bedroom upper apartment provide distinct living spaces.
Where is this duplex located?
The property is located at 1500 28th Street NW Canton, OH.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 1,440‑square‑foot duplex built in 1924; Main‑level apartment has two bedrooms, a full bath, living room with fireplace, dining room, and kitchen; Upper apartment includes one bedroom, a full bath, living room, and eat‑in kitchen
