Updated Duplex with
New
For Sale
$375,000
1532 Ellesmere Ave NW, North Canton, OH 44720
Two-bedroom residential property includes an oversized garage, barn, built-ins, and multiple recent improvements.
Property Size2,480 SF
Price / SF$151.21
Days on Market2
Property Features for 1532 Ellesmere Ave NW
General Information
Standard status
Active
Size
2,480 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1983
Listing Agency:
Keller Williams Legacy Group Realty
Listed By:
Jamie M Kelley · License #2015000807
(330) 316-9626
Source:
Groganzeiger
Added: Sep 8
Last Checked: Sep 8 at 2:49PM
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 Legacy Group Realty
Investment Insights
Based on property information with market context.
This duplex at 1532 Ellesmere Ave NW includes two bedrooms, one and a half bathrooms, living and family rooms, an eat-in kitchen, built-in storage, and an open-concept arrangement. The bedrooms are generously sized, with the primary bedroom offering three closets. An oversized one-car garage and a 30-by-40-foot barn add substantial storage and utility space.
Recent work includes carpeting and interior paint updates, a new hot water tank in 1532 in 2026, a furnace replacement in 2022, and a new furnace in 1534 in 2026. The garage door was replaced in 2025. The roof and barn were updated in 2023, while the barn also received new siding and a new garage door in 2025. Built in 1983, the property is located in North Canton, Ohio.
Recent work includes carpeting and interior paint updates, a new hot water tank in 1532 in 2026, a furnace replacement in 2022, and a new furnace in 1534 in 2026. The garage door was replaced in 2025. The roof and barn were updated in 2023, while the barn also received new siding and a new garage door in 2025. Built in 1983, the property is located in North Canton, Ohio.
Key Highlights
- Duplex with two bedrooms and 1.5 bathrooms
- 30‑by‑40‑foot barn included with the property
- Oversized one‑car garage
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
$20,745
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
5.53%
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%
$414,900
$414.9K
Cap Rate 7%
$296,357
$296.4K
Cap Rate 9%
$230,500
$230.5K
Market Conditions
NOI Build-Up for 2,480 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
$30.7K $12.36/SF
− Vacancy
−$1.0K −$0.41/SF
EGI
$29.6K $11.95/SF
− OpEx
−$8.9K −$3.58/SF
NOI
$20.7K $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%
$414,900
Cap Rate 7%
$296,357
Cap Rate 9%
$230,500
Alternative Uses
Best Use
Multifamily LT 5
$296.4K
$259.3K – $345.8K
NOI $20,745 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$259.5K
$227.1K – $302.7K
NOI $18,164 @ 7.0% cap · market cap 4.84%
Theoretical Best
Retail
$647.5K
$566.6K – $755.4K
NOI $45,325 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
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Business Placement
Demographics for 44720, OH
40,744
Population
17,988
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
97%
High-School Grad
34.3 sq mi
ZIP Area
1,188
Density / Sq Mi
$81,045
Median Household Income
$46,587
Median Earnings
$977
Median Rent
$233,800
Median Home Value
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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 - Two-bedroom residential property includes an oversized garage, barn, built-ins, and multiple recent improvements.
Where is this duplex located?
The property is located at 1532 Ellesmere Ave NW North Canton, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex with two bedrooms and 1.5 bathrooms; 30‑by‑40‑foot barn included with the property; Oversized one‑car garage
