2-Unit Brick
For Sale
$169,900
1923-1925 Evergreen Avenue, Akron, OH 44301
ResidentialIncome, Akron, OH
Property Size1,568 SF
Lot Size0.14 Acres
Price / SF$108.35
Days on Market94
Property Features for 1923-1925 Evergreen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Laundry Room, Basement, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Paved or Surfaced, Off Street, Driveway, On Street
Window features
Blinds
Interior features
CeilingFans
Appliances
Range, Refrigerator
Lot features
City Lot
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
Main St to E Ralston Ave to Evergreen Ave.
Standard status
Active
APN
6702437
Size
1,568 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3275
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
laundry hookup
stove
refrigerator
Building Details
Year built
1960
Floors in Building
1
Building materials
Brick
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(330) 492-9278
Listed By:
Jeff Drillien · License #2005015656
(330) 819-0070
Added: May 29
Changed: Aug 20
Last Checked: Aug 30 at 1:06PM
MLS# 5210457
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,568-square-foot brick duplex contains two residences, each arranged with two bedrooms, one bathroom, a kitchen, and a living area. Built in 1960, the property includes ranges and refrigerators, forced-air natural gas heating, window-unit cooling, ceiling fans, public water, and public sewer. The 1923 side has front and rear entry, an open kitchen-living layout, and basement access with laundry hookups and storage space. The 1925 side has a similar open kitchen-living arrangement without basement access.
The 0.1358-acre property is located in Akron near interstate access, restaurants, and retail stores. Parking is available in the driveway beside the building, on the street, and through paved off-street areas. The duplex is positioned at 1923-1925 Evergreen Avenue in the 44301 postal area.
The 0.1358-acre property is located in Akron near interstate access, restaurants, and retail stores. Parking is available in the driveway beside the building, on the street, and through paved off-street areas. The duplex is positioned at 1923-1925 Evergreen Avenue in the 44301 postal area.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per residence
- 1,568 square feet on a 0.1358‑acre lot
- Brick construction dating to 1960
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
$14,359
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
8.45%
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%
$287,180
$287.2K
Cap Rate 7%
$205,129
$205.1K
Cap Rate 9%
$159,544
$159.5K
Market Conditions
NOI Build-Up for 1,568 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
$21.6K $13.80/SF
− Vacancy
−$1.1K −$0.72/SF
EGI
$20.5K $13.08/SF
− OpEx
−$6.2K −$3.92/SF
NOI
$14.4K $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%
$287,180
Cap Rate 7%
$205,129
Cap Rate 9%
$159,544
Alternative Uses
Best Use
Multifamily LT 5
$205.1K
$179.5K – $239.3K
NOI $14,359 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$179.6K
$157.1K – $209.5K
NOI $12,571 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$384.8K
$336.7K – $448.9K
NOI $26,936 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 44301, OH
14,364
Population
6,859
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
3,990
Density / Sq Mi
$52,134
Median Household Income
$34,553
Median Earnings
$990
Median Rent
$103,400
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 separately configured residences provide kitchens, living areas, appliances, and multiple parking options.
Where is this duplex located?
The property is located at 1923-1925 Evergreen Avenue Akron, OH.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per residence; 1,568 square feet on a 0.1358‑acre lot; Brick construction dating to 1960
