Duplex with Detached
For Sale
$234,900
2337 38th St Nw, Canton, OH 44705
Refreshed owner’s unit includes updated kitchen finishes and additional lower-level recreation space.
Property Size2,856 SF
Price / SF$82.25
Days on Market15
Property Features for 2337 38th St Nw
General Information
Standard status
Active
Size
2,856 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,300
Building Details
Tenancy
Single
Listing Agency:
RE/MAX Edge Realty
(330) 236-5100
Listed By:
Debbie L Ferrante · License #2010000047
(330) 958-8394
Source:
Exprealty
Added: Sep 3
Changed: Sep 13
Last Checked: Sep 15 at 3:25PM
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 RE/MAX Edge Realty
Investment Insights
Based on property information with market context.
This 2,856 SF duplex at 2337 38th St Nw in Canton, Ohio, includes two residential units and a detached two-car garage. The larger owner’s unit has new carpeting, luxury vinyl plank flooring, fresh paint, updated countertops, a stainless-steel sink, and a new faucet. Its layout includes an expansive living room, dining room, two upstairs bedrooms, a full bathroom, a finished lower-level recreation room, and a utility room with storage.
The second unit is occupied and follows a comparable floor plan with a smaller kitchen. The property is located in Plain Township. Water, sewer, and trash utilities are paid by the owner, while tenants pay their own gas and electric service.
The second unit is occupied and follows a comparable floor plan with a smaller kitchen. The property is located in Plain Township. Water, sewer, and trash utilities are paid by the owner, while tenants pay their own gas and electric service.
Key Highlights
- 2,856 SF duplex with two residential units
- Detached two‑car garage
- Larger unit refreshed with new carpeting, luxury vinyl plank flooring, and fresh paint
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
$20,918
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
8.91%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 2,856 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
$39.4K $13.80/SF
− Vacancy
−$1.4K −$0.48/SF
EGI
$38.0K $13.32/SF
− OpEx
−$17.1K −$5.99/SF
NOI
$20.9K $7.32/SF
Area
Stark County, OH
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Multifamily LT 5
$341.3K
$298.6K – $398.2K
NOI $23,890 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 8.91%
Theoretical Best
Retail
$745.7K
$652.5K – $870.0K
NOI $52,197 @ 7.0% cap · market cap 22.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 44705, OH
17,779
Population
7,955
Households
2.2
Avg Household Size
37
Median Age
10%
College-Educated
84%
High-School Grad
7.9 sq mi
ZIP Area
2,251
Density / Sq Mi
$41,903
Median Household Income
$29,420
Median Earnings
$877
Median Rent
$74,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Refreshed owner’s unit includes updated kitchen finishes and additional lower-level recreation space.
Where is this duplex located?
The property is located at 2337 38th St Nw Canton, OH.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 2,856 SF duplex with two residential units; Detached two‑car garage; Larger unit refreshed with new carpeting, luxury vinyl plank flooring, and fresh paint
