Two-Unit Duplex with
New
For Sale
$139,900
1500 28th Street NW, Canton, OH 44709
ResidentialIncome, Canton, OH
Property Size1,440 SF
Lot Size0.18 Acres
Price / SF$97.15
Days on Market2
Property Features for 1500 28th Street NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Basement, Bedroom 3, Laundry Room, Bathroom 1, Bedroom 1
Parking features
Garage, Driveway, Carport
Elementary school district
Canton CSD - 7602
Middle school district
Canton CSD - 7602
High school district
Canton CSD - 7602
Directions
from Cleveland Ave NW turn west on 28th St NW.
Standard status
Active
APN
00234809
Size
1,440 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
21866 WH EX 58' SE
Tax Annual Amount
2755
Legal Description
21866 WH EX 58' SE
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Edge Realty · RE/MAX International
(330) 236-5100
Listed By:
Debbie L Ferrante · License #2010000047
(330) 958-8394
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 6:06PM
MLS# 5248465
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.
Built in 1924, this 1,440-square-foot duplex contains two apartments on a 0.1756-acre lot. The main-level unit has two bedrooms, a full bathroom, a living room with a fireplace, a dining room, and a kitchen. Flooring in this apartment has been updated. The upper apartment includes one bedroom, a full bathroom, a living room, and an eat-in kitchen. Both units can access the basement for storage.
Parking features include a garage, carport, and driveway. The property is served by public water and public sewer, with forced-air natural gas heat and window-unit cooling. Shopping, dining, and expressway access are nearby.
Parking features include a garage, carport, and driveway. The property is served by public water and public sewer, with forced-air natural gas heat and window-unit cooling. Shopping, dining, and expressway access are nearby.
Key Highlights
- Two apartments: a two‑bedroom main‑level unit and a one‑bedroom upper unit
- 1,440 square feet on a 0.1756‑acre lot
- Main apartment includes a living room fireplace and updated flooring
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate apartments offer two bedrooms on the main floor and one bedroom upstairs, with basement access for both units.
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: Two apartments: a two‑bedroom main‑level unit and a one‑bedroom upper unit; 1,440 square feet on a 0.1756‑acre lot; Main apartment includes a living room fireplace and updated flooring
