Five-Bedroom Multifamily
New
For Sale
$250,000
1517 Whitehall Boulevard, Kent, OH 44240
ResidentialIncome, Kent, OH
Property Size1,488 SF
Lot Size0.04 Acres
Price / SF$168.01
Days on Market3
Property Features for 1517 Whitehall Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
3
Full bathrooms
12
Rooms
Bedroom 1, Bathroom 1, Bathroom 8, Bathroom 2, Bathroom 7, Bedroom 2, Bathroom 9, Bathroom 10, Bathroom 5, Bedroom 4, Bedroom 5, Bathroom 12, Bathroom 11, Laundry Room, Bathroom 3, Bedroom 3, Bathroom 4, Bathroom 6
Parking features
Parking Lot, Off Street
Interior features
BreakfastBar, EntranceFoyer, EatInKitchen
Exterior features
Balcony, Courtyard, Lighting, PrivateEntrance, UncoveredCourtyard
Fencing
Privacy
Appliances
Dryer, Dishwasher, Range, Refrigerator
Subdivision
Whitehall East Twnhms
Lot features
Dead End, Flat, Landscaped, Level
Elementary school district
Kent CSD - 6705
Middle school district
Kent CSD - 6705
High school district
Kent CSD - 6705
Directions
Summit to Whitehall Blvd
Standard status
Active
APN
17-004-20-00-009-000
Size
1,488 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WHITEHALL EAST TOWNHOMES LOT 9
Tax Annual Amount
2790
Legal Description
WHITEHALL EAST TOWNHOMES LOT 9
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
privacy patio
balconies
laundry
central air conditioning
Building Details
Year built
1991
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Chervenic Rlty · Keller Williams Realty
(330) 686-1644
Listed By:
Lesa Lillibridge · License #2010003459
(330) 620-5372
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 19 at 3:06PM
MLS# 5237080
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 1,488-square-foot townhome at 1517 Whitehall Boulevard includes five bedrooms and three full bathrooms across two levels. The first floor offers an open living area with breakfast bar and kitchen, laundry room, one bedroom, a full bathroom with shower, and access to both front and rear entries. Four additional bedrooms occupy the second floor, along with two full bathrooms featuring tub-and-shower combinations, private closets, keyed bedroom locks, and balconies. The property has been freshly painted and includes central air, forced-air natural-gas heating, a range, refrigerator, dishwasher, and dryer.
Exterior features include a privacy patio, courtyard areas, private entrances, and off-street parking. Public water and public sewer serve the property. Located in Kent, Ohio, the townhome is within the City of Kent rental zone and is positioned for student-housing or whole-unit rental use.
Exterior features include a privacy patio, courtyard areas, private entrances, and off-street parking. Public water and public sewer serve the property. Located in Kent, Ohio, the townhome is within the City of Kent rental zone and is positioned for student-housing or whole-unit rental use.
Key Highlights
- Five‑bedroom, three‑full‑bath townhome with 1,488 square feet
- Built in 1991 and freshly painted
- Two‑story layout with four second‑floor bedrooms and balconies
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
$11,988
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
4.80%
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%
$239,760
$239.8K
Cap Rate 7%
$171,257
$171.3K
Cap Rate 9%
$133,200
$133.2K
Market Conditions
NOI Build-Up for 1,488 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
$23.2K $15.60/SF
− Vacancy
−$1.4K −$0.95/SF
EGI
$21.8K $14.65/SF
− OpEx
−$9.8K −$6.59/SF
NOI
$12.0K $8.06/SF
Area
Portage County, OH
Vacancy
6.10%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$239,760
Cap Rate 7%
$171,257
Cap Rate 9%
$133,200
Alternative Uses
Best Use
Apartment 5plus
$171.3K
$149.9K – $199.8K
NOI $11,988 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.7K
$262.3K – $349.7K
NOI $20,981 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Explore this area
Business Placement
Demographics for 44240, OH
38,354
Population
20,228
Households
1.9
Avg Household Size
32
Median Age
44%
College-Educated
96%
High-School Grad
39.7 sq mi
ZIP Area
966
Density / Sq Mi
$57,415
Median Household Income
$31,613
Median Earnings
$989
Median Rent
$216,000
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?
Multifamily property - Two-story townhome with private bedroom access, balconies, patio space, and a flexible student-housing layout.
Where is this multifamily property located?
The property is located at 1517 Whitehall Boulevard Kent, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Five‑bedroom, three‑full‑bath townhome with 1,488 square feet; Built in 1991 and freshly painted; Two‑story layout with four second‑floor bedrooms and balconies
