Cash-Flowing Duplex with Central
For Sale
$215,000
1921 Preston Ave, Akron, OH 44305
Fully occupied duplex with two renovated 2-bedroom, 1-bath units, each with central air and separate utilities.
Property Size1,440 SF
Price / SF$149.31
Days on Market97
Property Features for 1921 Preston Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Goodyear Heights
Building Details
Year Built
1963
Listing Agency:
Keller Williams Citywide
Listed By:
Mark A Colucci · License #2020004747
(440) 590-5219
Source:
Kmlkrealty
Added: Jul 20
Changed: Oct 11
Last Checked: Oct 7 at 2:24PM
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 Citywide
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Investment Insights
Based on property information with market context.
This fully occupied duplex features two renovated 2-bedroom, 1-bath units. Each unit is separately served with its own utilities and includes central air, supporting straightforward day-to-day management.
The property is currently generating gross rents of $1,950 per month, with the upper unit rented at $950/month and the lower unit rented at $1,000/month. Tenants benefit from a large balcony and private parking lot in a quiet residential setting on a private dead-end street.
For buyers looking to expand, the listing notes a potential package including all four duplexes on the same lot: 1919-1921 Preston Ave., 1925-1927 Preston Ave., 1931-1933 Preston Ave., and 1937-1939 Preston Ave.
The property is currently generating gross rents of $1,950 per month, with the upper unit rented at $950/month and the lower unit rented at $1,000/month. Tenants benefit from a large balcony and private parking lot in a quiet residential setting on a private dead-end street.
For buyers looking to expand, the listing notes a potential package including all four duplexes on the same lot: 1919-1921 Preston Ave., 1925-1927 Preston Ave., 1931-1933 Preston Ave., and 1937-1939 Preston Ave.
Key Highlights
- Cash‑flowing, fully occupied duplex built in 1963 with gross rents of $1,950/month
- Two renovated 2‑bedroom, 1‑bath units (top $950/month; bottom $1,000/month)
- Separate utilities and central air for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,187
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,740
$263.7K
Cap Rate 7%
$188,386
$188.4K
Cap Rate 9%
$146,522
$146.5K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$19.9K $13.80/SF
− Vacancy
−$1.0K −$0.72/SF
EGI
$18.8K $13.08/SF
− OpEx
−$5.7K −$3.92/SF
NOI
$13.2K $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 Rate 5%
$263,740
Cap Rate 7%
$188,386
Cap Rate 9%
$146,522
Alternative Uses
Best Use
Multifamily LT 5
$188.4K
$164.8K – $219.8K
NOI $13,187 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,545 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$353.4K
$309.2K – $412.3K
NOI $24,737 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
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Business Placement
Demographics for 44305, OH
21,214
Population
10,230
Households
2.1
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,166
Density / Sq Mi
$55,909
Median Household Income
$37,409
Median Earnings
$974
Median Rent
$89,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with two renovated 2-bedroom, 1-bath units, each with central air and separate utilities.
Where is this duplex located?
The property is located at 1921 Preston Ave Akron, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Cash‑flowing, fully occupied duplex built in 1963 with gross rents of $1,950/month; Two renovated 2‑bedroom, 1‑bath units (top $950/month; bottom $1,000/month); Separate utilities and central air for each unit
