Five-Bedroom Short-Term Rental
For Sale
$250,000
1517 Whitehall Boulevard, Kent, OH 44240
Two-story residence offers private bedroom access, flexible rental arrangements, and a practical layout for shared occupancy.
Property Size1,488 SF
Price / SF$168.01
Days on Market8
Property Features for 1517 Whitehall Boulevard
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 5BR/3BA
Multifamily Units
1
Building Details
Year Built
1991
Buildings
1
Stories
2
Listing Agency:
Keller Williams Chervenic Rlty
Listed By:
Lesa Lillibridge
Source:
Theacclaimedrealty
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 11:45AM
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.
This two-story townhome at 1517 Whitehall Blvd in Kent includes five bedrooms and three full bathrooms. The first floor features an open living, breakfast bar, and kitchen arrangement, along with laundry, a full bathroom with shower, one bedroom, front and rear entrances, and a private patio. The upper level adds four bedrooms, two full bathrooms with tub and shower combinations, balconies, and a large linen closet. Each bedroom includes a private closet and keyed lock. The property was built in 1991, has been freshly painted, and includes 2026 central air.
The home is part of Whitehall Townhomes East and has a rental history associated with student occupancy. Rental arrangements can be structured by the room or for the entire townhome, with utilities handled according to the selected arrangement. The property is identified as being within the City of Kent rental zone.
The home is part of Whitehall Townhomes East and has a rental history associated with student occupancy. Rental arrangements can be structured by the room or for the entire townhome, with utilities handled according to the selected arrangement. The property is identified as being within the City of Kent rental zone.
Key Highlights
- Five bedrooms and 3 full bathrooms
- 1,488 property‑size units as reported
- Two‑story townhome with 1 first‑floor bedroom and 4 upstairs bedrooms
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?
Short term rental property - Two-story residence offers private bedroom access, flexible rental arrangements, and a practical layout for shared occupancy.
Where is this short term rental 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 bedrooms and 3 full bathrooms; 1,488 property‑size units as reported; Two‑story townhome with 1 first‑floor bedroom and 4 upstairs bedrooms
