Updated Four-Unit Duplex
For Sale
$167,500
1636 Seth Roberts Dr, Akron, OH 44306
Two updated duplex properties offer flexible month-to-month occupancy and separately metered units with individual garage space.
Property Size1,242 SF
Price / SF$134.86
Days on Market73
Property Features for 1636 Seth Roberts Dr
General Information
Standard status
Active
Size
1,242 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Asking Price
$345,000
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,255
Amenities
washer/dryer hookups
Building Details
Year Built
1964
Buildings
2
Listing Agency:
Ohio Broker Direct
(614) 989-7215
Listed By:
Joan Elflein · License #386319
(614) 989-7215
Source:
Exprealty
Added: Jun 19
Changed: Aug 30
Last Checked: Aug 30 at 10:37AM
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 Ohio Broker Direct
Investment Insights
Based on property information with market context.
This offering includes two duplex properties with four total residential units, available individually or together. Each apartment has one bedroom, one bathroom, a dining area, living room, kitchen, and a one-car garage with washer and dryer hookups. The units have received updates that include roofs, gutters, windows, appliances, and interior finishes. Heating is provided by forced hot air, with mini-split and wall-mounted AC units also serving the apartments.
All four units are occupied and operate under month-to-month leases. Separate utility metering places gas, electric, water, sewer, and trash responsibilities with the tenants, while the landlord covers real estate taxes, building insurance, and landscaping. Constructed in 1964, the properties are located at 802 S. Jenkins and 1636 Seth Roberts Dr in Akron, Ohio.
All four units are occupied and operate under month-to-month leases. Separate utility metering places gas, electric, water, sewer, and trash responsibilities with the tenants, while the landlord covers real estate taxes, building insurance, and landscaping. Constructed in 1964, the properties are located at 802 S. Jenkins and 1636 Seth Roberts Dr in Akron, Ohio.
Key Highlights
- Two duplexes with four total units, offered separately or as a combined acquisition
- Each unit includes 1 bedroom, 1 bath, approximately 621 square feet, and a one‑car garage
- 100 percent occupancy with all units leased month to month
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
$11,374
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
6.79%
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%
$227,480
$227.5K
Cap Rate 7%
$162,486
$162.5K
Cap Rate 9%
$126,378
$126.4K
Market Conditions
NOI Build-Up for 1,242 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
$17.1K $13.80/SF
− Vacancy
−$891 −$0.72/SF
EGI
$16.2K $13.08/SF
− OpEx
−$4.9K −$3.92/SF
NOI
$11.4K $9.16/SF
Area
Akron, OH
Vacancy
5.20%
Lease Rate
$13.80 /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%
$227,480
Cap Rate 7%
$162,486
Cap Rate 9%
$126,378
Alternative Uses
Best Use
Multifamily LT 5
$162.5K
$142.2K – $189.6K
NOI $11,374 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$142.2K
$124.5K – $166.0K
NOI $9,957 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$304.8K
$266.7K – $355.6K
NOI $21,336 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 44306, OH
21,085
Population
10,424
Households
2
Avg Household Size
34
Median Age
9%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
2,540
Density / Sq Mi
$41,105
Median Household Income
$30,481
Median Earnings
$901
Median Rent
$77,500
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?
Duplex - Two updated duplex properties offer flexible month-to-month occupancy and separately metered units with individual garage space.
Where is this duplex located?
The property is located at 1636 Seth Roberts Dr Akron, OH.
What is the asking price?
The asking price for this property is $167,500.
What are key features of this property?
This property features: Two duplexes with four total units, offered separately or as a combined acquisition; Each unit includes 1 bedroom, 1 bath, approximately 621 square feet, and a one‑car garage; 100 percent occupancy with all units leased month to month
