201-203 S Prospect Street Kent, OH 44240
MULTI_FAMILY - Kent, OH
Property Features for 201-203 S Prospect Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 4, Laundry Room, Bedroom 1
- Parking features
- Garage, Alley, Driveway, Paved or Surfaced
- Exterior features
- PrivateYard
- Appliances
- Range, Refrigerator
- Standard status
- Active
- APN
- 17-025-20-00-109-000
- Size
- 1,728 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- KENT 2 C LOT 24 F 60.00
- Tax Annual Amount
- 2987
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Wall Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Building materials
- VinylSiding
- Roof type
- Asphalt, Fiberglass
Listing agent Jodi L Mignano License #2005004349 (330) 338-9047
Listing office Keller Williams Chervenic Rlty 3589 Darrow Rd, Stow, OH (330) 686-1644
Listing date Jul 13, 2026
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.
Located at 201-203 S Prospect Street in Kent, Ohio (Portage County), the home is described as being just minutes from downtown Kent and Kent State University. The units are currently leased through 7/31/2027.
Tenants are paying $1,100/month and $975/month, and the tenants pay all utilities. With both units already in place, the property provides immediate rental income while maintaining the option for future occupancy changes.
Key Highlights
- Side‑by‑side duplex with 2 bedrooms and 1 full bath per unit (4 bedrooms total, 2 bathrooms).
- Currently leased through 7/31/2027 with rents of $1,100/month and $975/month; tenants pay all utilities.
- Includes detached garage plus a second outbuilding for additional storage.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.8k | $13.20 |
| − Vacancy | −$1.3k | −$0.76 |
| EGI | $21.5k | $12.44 |
| − OpEx | −$6.4k | −$3.73 |
| NOI | $15.0k | $8.71 |
