Brick Duplex With Attached
For Sale
$259,000
Pending
1645 California Avenue, Louisville, OH 44641
Two-bedroom units include unfinished basements, private garage access, and tenant-paid utilities.
Property Size1,666 SF
Days on Market44
Property Features for 1645 California Avenue
General Information
Standard status
Pending
Size
1,666 SF
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$2,826
Amenities
Central Air
Forced Air, Gas
Full, Sump Pump, Unfinished
Range, Refrigerator
Yes
2
4
In Basement
Asphalt, Fiberglass
1
No
Building Details
Year Built
1973
Buildings
1
Listing Agency:
RE/MAX Edge Realty
(330) 806-3616
Listed By:
Christina Hoff · License #2024005572
(330) 806-3616
Source:
Compass
Added: Jun 24
Changed: Aug 6
Last Checked: Aug 6 at 10:44AM
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 RE/MAX Edge Realty
Investment Insights
Based on property information with market context.
This 1,666-square-foot brick duplex was built in 1973 and contains two separate units. Each residence has two bedrooms, one full bathroom, a living area, an attached garage, and a full unfinished basement with a sump pump and washer and dryer hookups. Central air and gas forced-air heating serve the property, while each kitchen includes a range and refrigerator.
One unit is vacant and the other is occupied; showings of the occupied residence require 24 hours’ notice. Tenants are responsible for all utilities. The configuration provides private garage access and basement storage for both units, with the unfinished lower levels offering additional functional space without adding unsupported use assumptions.
One unit is vacant and the other is occupied; showings of the occupied residence require 24 hours’ notice. Tenants are responsible for all utilities. The configuration provides private garage access and basement storage for both units, with the unfinished lower levels offering additional functional space without adding unsupported use assumptions.
Key Highlights
- Two‑unit duplex with 1,666 square feet of building area
- Each unit includes 2 bedrooms and 1 full bathroom
- Attached garage provided for each residence
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
$13,936
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
5.38%
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%
$278,720
$278.7K
Cap Rate 7%
$199,086
$199.1K
Cap Rate 9%
$154,844
$154.8K
Market Conditions
NOI Build-Up for 1,666 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
$20.6K $12.36/SF
− Vacancy
−$684 −$0.41/SF
EGI
$19.9K $11.95/SF
− OpEx
−$6.0K −$3.58/SF
NOI
$13.9K $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%
$278,720
Cap Rate 7%
$199,086
Cap Rate 9%
$154,844
Alternative Uses
Best Use
Multifamily LT 5
$199.1K
$174.2K – $232.3K
NOI $13,936 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$174.3K
$152.5K – $203.4K
NOI $12,202 @ 7.0% cap · market cap 4.71%
Theoretical Best
Retail
$435.0K
$380.6K – $507.5K
NOI $30,448 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 44641, OH
20,399
Population
8,412
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
54.9 sq mi
ZIP Area
372
Density / Sq Mi
$78,128
Median Household Income
$42,035
Median Earnings
$834
Median Rent
$199,300
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-bedroom units include unfinished basements, private garage access, and tenant-paid utilities.
Where is this duplex located?
The property is located at 1645 California Avenue Louisville, OH.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,666 square feet of building area; Each unit includes 2 bedrooms and 1 full bathroom; Attached garage provided for each residence
