Two-Unit Ranch
New
For Sale
$215,000
2584-2586 Meloy Road, Ravenna, OH 44240
ResidentialIncome, Ravenna, OH
Property Size1,872 SF
Lot Size1.02 Acres
Price / SF$114.85
Days on Market2
Property Features for 2584-2586 Meloy Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Laundry Room, Bedroom 2, Bedroom 1
Parking features
Garage, Driveway
Appliances
Range, Refrigerator
Subdivision
Ne Div
Elementary school district
Field LSD - 6703
Middle school district
Field LSD - 6703
High school district
Field LSD - 6703
Directions
Rt 43 north off I-76 E. Take Edson Rd to Meloy Rd near Sandy Lake Rd.
Standard status
Active
APN
04-010-00-00-007-003
Size
1,872 SF
Lot size
1.02 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 10 NE PCL 1
Tax Annual Amount
3148
Legal Description
LOT 10 NE PCL 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Well
Amenities
in-unit laundry
Building Details
Year built
1979
Floors in Building
1
Building materials
AluminumSiding, VinylSiding
Roof type
Asphalt, Fiberglass
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 835-4900
Listed By:
Katie Wayt · License #2026003795
(330) 612-6971
Added: Oct 28
Last Checked: Oct 29 at 4:06AM
MLS# 5255417
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.
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Investment Insights
Based on property information with market context.
This 1979 ranch-style duplex contains 1,872 square feet across two residences on a 1.02-acre parcel. Each unit has two bedrooms, one full bathroom, a dine-in kitchen with a range and refrigerator, and in-unit laundry. The property includes an attached one-car garage for each side; one garage has been converted to additional living space. Kitchen updates, newer water treatment equipment, and newer toilets are among the improvements. Heating is electric baseboard, water is supplied by a well, and the property is connected to public sewer.
Both units are occupied under year-long leases. Tenants pay for electricity and garbage pickup, while the owner covers public sewer service and water-softener salt. The property is on Meloy Road in Ravenna, Ohio, and may be sold with the neighboring property at 2590-2592 Meloy Road.
Both units are occupied under year-long leases. Tenants pay for electricity and garbage pickup, while the owner covers public sewer service and water-softener salt. The property is on Meloy Road in Ravenna, Ohio, and may be sold with the neighboring property at 2590-2592 Meloy Road.
Key Highlights
- Two‑unit ranch duplex with 1,872 square feet on 1.02 acres
- Each unit has 2 bedrooms, 1 full bathroom, a dine‑in kitchen, and in‑unit laundry
- Both residences are occupied under year‑long leases
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
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, updated kitchens, and current year-long leases.
Where is this duplex located?
The property is located at 2584-2586 Meloy Road 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: Two‑unit ranch duplex with 1,872 square feet on 1.02 acres; Each unit has 2 bedrooms, 1 full bathroom, a dine‑in kitchen, and in‑unit laundry; Both residences are occupied under year‑long leases
