Income-Producing Multifamily Near Kent
209 Dodge Street, Kent, OH 44240
MULTI_FAMILY - Kent, OH
Property size:
2,100 SFLot size:
0.21 AcresPrice / SF:
$102/SF- Added:
- Feb 13, 2026
- Days on Market:
- 92
- Last Refresh:
- May 16 at 5:06 pm
Property Features for 209 Dodge Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 4, Laundry Room, Basement, Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 1
- Parking features
- Garage, Driveway
- Standard status
- Active
- APN
- 17-012-20-00-151-000
- Size
- 2,100 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- HALL DIV 6 LOT 11 F 60
- Tax Annual Amount
- 2196
Utilities
- Heating system
- Natural Gas, Forced Air, Baseboard
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Building materials
- AluminumSiding, WoodSiding
- Roof type
- Fiberglass, Asphalt
Listing agent Judy Makaryk Rosen License #421383 (216) 533-7850
Listing office Berkshire Hathaway HomeServices Professional Realty 34555 Chagrin Boulevard, Mentor, OH (440) 822-3222
Listing date Feb 13, 2026
MLS# 5186569
Listing URL
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.
HighLights
- Income‑producing property with a separate 2‑bedroom rental unit that can help pay the mortgage.
- Less than a mile from Kent State University, offering convenient access to campus, restaurants, and shopping.
- Main house features 3 bedrooms, including a spacious upper suite with a half bath and extra storage.
- Second home includes 2 bedrooms, updated kitchen and baths, ensuite laundry, and a private front porch.
- Updated furnace and electrical system in the main house, providing added peace of mind.
- Includes a full two‑car garage and an extra storage building for added flexibility.
Overview
This multifamily property, located less than a mile from Kent State University, offers a unique opportunity for generating income. The main house features 3 bedrooms, including two on the main level and a spacious upper suite with a half bath and extra storage. The kitchen has updated oak cabinetry and includes a refrigerator, stove, and dishwasher. A mudroom and laundry area are conveniently located nearby. The lower level provides abundant storage, along with an updated furnace and electrical system. The second home, previously operated as a midterm rental, includes 2 bedrooms, a walk-in closet, updated kitchen and baths, and ensuite laundry. An inviting front porch creates a private, welcoming atmosphere. The property offers options for long-term rental, short-term rental, or multi-generational living. Additional features include a full two-car garage and an extra storage building. The property is situated minutes from Kent State's campus, restaurants, and shopping. The lot size is 0.2107 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$203.1K
NOI $18,281 @ 9.00% cap · cautious / downside scenario
Moderate
$261.2K
NOI $18,281 @ 7.00% cap · market / base-case scenario
Aggressive
$365.6K
NOI $18,281 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.7k | $13.20 |
| − Vacancy | −$1.6k | −$0.76 |
| EGI | $26.1k | $12.44 |
| − OpEx | −$7.8k | −$3.73 |
| NOI | $18.3k | $8.71 |
2,100 SF · lease $13.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$261.2K
$228.5K – $304.7K
NOI $18,281 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$241.7K
$211.5K – $282.0K
NOI $16,919 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$423.0K
$370.1K – $493.5K
NOI $29,610 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Kent
- County
- Portage
- State
- Ohio
- Longitude
- -81.360856
- Latitude
- 41.143871
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Multifamily property near Kent State, ideal for rental income.
Where is this duplex located?
The property is located at 209 Dodge Street Kent, 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: Income‑producing property with a separate 2‑bedroom rental unit that can help pay the mortgage.; Less than a mile from Kent State University, offering convenient access to campus, restaurants, and shopping.; Main house features 3 bedrooms, including a **spacious upper suite** with a half bath and extra storage.
