2-Unit Ranch
2584-2586 Meloy Rd, Ravenna, OH 44240
For Sale
$215,000
Pending
Both residences have two bedrooms, in-unit laundry, and attached garages; the property is occupied under year-long leases.
Property Size1,872 SF
Days on Market14
Property Features for 2584-2586 Meloy Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
in-unit laundry
Building Details
Year Built
Buildings
Construction
Listing Agency:
BHHS Stouffer Realty
Listed By:
Katie Wayt · License #2026003795
(330) 612-6971
Source:
Centralohiohomeguide
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 8 at 7:34AM
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 BHHS Stouffer Realty
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Investment Insights
Based on property information with market context.
Built in 1979, this ranch-style duplex contains 1,872 square feet. Each residence has two bedrooms, one full bathroom, a dine-in kitchen with appliances, and in-unit laundry. Attached one-car garages serve the units; one has been adapted by its tenant for additional living space. Kitchen and appliance updates, newer toilets, and a newer water softener and pressure tank are among the property’s improvements.
Both units are occupied under year-long leases. Tenants pay electricity and garbage pickup, while the owner currently covers city sewer service and water-softener salt. The property is on Meloy Road in Brimfield Township and may be sold with the property at 2590-2592 Meloy Rd.
Both units are occupied under year-long leases. Tenants pay electricity and garbage pickup, while the owner currently covers city sewer service and water-softener salt. The property is on Meloy Road in Brimfield Township and may be sold with the property at 2590-2592 Meloy Rd.
Key Highlights
- 1,872‑square‑foot duplex built in 1979
- Two occupied units, each with 2 bedrooms and 1 full bathroom
- Both residences include dine‑in kitchens with appliances and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,296
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,920
$325.9K
Cap Rate 7%
$232,800
$232.8K
Cap Rate 9%
$181,067
$181.1K
Market Conditions
NOI Build-Up for 1,872 SF
Gross rent
$24.7K $13.20/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.3K $12.44/SF
− OpEx
−$7.0K −$3.73/SF
NOI
$16.3K $8.71/SF
Area
Portage County, OH
Vacancy
5.79%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,920
Cap Rate 7%
$232,800
Cap Rate 9%
$181,067
Alternative Uses
Best Use
Multifamily LT 5
$232.8K
$203.7K – $271.6K
NOI $16,296 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$215.5K
$188.5K – $251.4K
NOI $15,082 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$377.1K
$329.9K – $439.9K
NOI $26,395 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 44240, OH
38,354
Population
20,228
Households
1.9
Avg Household Size
32
Median Age
44%
College-Educated
96%
High-School Grad
39.7 sq mi
ZIP Area
966
Density / Sq Mi
$57,415
Median Household Income
$31,613
Median Earnings
$989
Median Rent
$216,000
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Portage County, OH
Properties on Market for Duplexes in Portage County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms, in-unit laundry, and attached garages; the property is occupied under year-long leases.
Where is this duplex located?
The property is located at 2584-2586 Meloy Rd Ravenna, 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: 1,872‑square‑foot duplex built in 1979; Two occupied units, each with 2 bedrooms and 1 full bathroom; Both residences include dine‑in kitchens with appliances and in‑unit laundry
