Updated Duplex with Oversized
For Sale
$253,000
206 Olivet Avenue, Akron, OH 44319
Vacant two-unit property with in-unit laundry, modern finishes, and a detached oversized garage.
Property Size2,530 SF
Days on Market47
Property Features for 206 Olivet Avenue
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,988
Amenities
in-unit laundry
detached oversized garage
Building Details
Building Size
2,530 SF
Year Built
1924
Buildings
1
Stories
2
Listing Agency:
Real of Ohio
(234) 817-1312
Listed By:
Suede E Beverly · License #2019005255
(234) 817-1312
Source:
Carolgoffrealestate
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 31 at 5:12PM
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 Real of Ohio
Investment Insights
Based on property information with market context.
Built in 1924, this vacant duplex includes two updated residential units with modern finishes and separate in-unit laundry. One unit offers 2 bedrooms and 2 bathrooms, while the other includes 2 bedrooms and 2.5 bathrooms. The layout supports an owner-occupant arrangement or leasing of both units, subject to the buyer’s plans.
A detached oversized garage provides enclosed space for multiple vehicles or recreational storage. The main and garage roofs are brand new in 2026 and include a transferable warranty. The property is near the water, recreation, and amenities of the Portage Lakes area in Akron. The sale is offered as-is.
A detached oversized garage provides enclosed space for multiple vehicles or recreational storage. The main and garage roofs are brand new in 2026 and include a transferable warranty. The property is near the water, recreation, and amenities of the Portage Lakes area in Akron. The sale is offered as-is.
Key Highlights
- Two‑unit duplex with 2 bedrooms in each unit
- Unit bath counts are 2 and 2.5
- In‑unit laundry and updated modern finishes
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
$23,169
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
9.16%
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%
$463,380
$463.4K
Cap Rate 7%
$330,986
$331.0K
Cap Rate 9%
$257,433
$257.4K
Market Conditions
NOI Build-Up for 2,530 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
$34.9K $13.80/SF
− Vacancy
−$1.8K −$0.72/SF
EGI
$33.1K $13.08/SF
− OpEx
−$9.9K −$3.92/SF
NOI
$23.2K $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 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%
$463,380
Cap Rate 7%
$330,986
Cap Rate 9%
$257,433
Alternative Uses
Best Use
Multifamily LT 5
$331.0K
$289.6K – $386.2K
NOI $23,169 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$289.8K
$253.5K – $338.1K
NOI $20,283 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$620.9K
$543.3K – $724.4K
NOI $43,462 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 44319, OH
21,833
Population
9,950
Households
2.2
Avg Household Size
48
Median Age
30%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,149
Density / Sq Mi
$74,781
Median Household Income
$43,662
Median Earnings
$1,081
Median Rent
$188,400
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 - Vacant two-unit property with in-unit laundry, modern finishes, and a detached oversized garage.
Where is this duplex located?
The property is located at 206 Olivet Avenue Akron, OH.
What is the asking price?
The asking price for this property is $253,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms in each unit; Unit bath counts are 2 and 2.5; In‑unit laundry and updated modern finishes
