2-Unit Ranch
New
For Sale
$230,000
2590-2592 Meloy Road, Ravenna, OH 44240
ResidentialIncome, Ravenna, OH
Property Size1,872 SF
Lot Size1.02 Acres
Price / SF$122.86
Days on Market2
Property Features for 2590-2592 Meloy Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Laundry Room, Bedroom 1, Bedroom 4, Bedroom 2
Parking features
Garage, Driveway
Appliances
Range, Refrigerator, WaterSoftener
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. Take Edson Rd to Meloy Rd near Sandy Lake Rd.
Standard status
Active
APN
04-010-00-00-007-002
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
Tax Annual Amount
3119
Legal Description
LOT 10 NE
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Well
Amenities
in-unit laundry
storage shed
Building Details
Year built
1979
Floors in Building
1
Building materials
Brick, VinylSiding
Roof type
Fiberglass, Asphalt
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# 5255421
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 1,872-square-foot ranch duplex on 1.02 acres contains two residences, each with two bedrooms, one full bathroom, a dine-in kitchen with appliances, in-unit laundry, and a one-car attached garage. A storage shed is also on the property. Kitchen and appliance updates are among the improvements; the property also has newer toilets, a water softener, and a water pressure tank.
Both units are occupied under year-long leases. The property is located on Meloy Road in Ravenna, Ohio, and has a well and public sewer. It may be sold together with 2584-2586 Meloy Road.
Both units are occupied under year-long leases. The property is located on Meloy Road in Ravenna, Ohio, and has a well and public sewer. It may be sold together with 2584-2586 Meloy Road.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1,872 square feet on 1.02 acres
- Each unit includes a one‑car attached garage, in‑unit laundry, and a dine‑in kitchen with appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,296
Cap Rate
7.09%
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 7.09%
Second Best
Apartment 5plus
$215.5K
$188.5K – $251.4K
NOI $15,082 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$377.1K
$329.9K – $439.9K
NOI $26,395 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied under year-long leases and include in-unit laundry and attached garages.
Where is this duplex located?
The property is located at 2590-2592 Meloy Road Ravenna, OH.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 1,872 square feet on 1.02 acres; Each unit includes a one‑car attached garage, in‑unit laundry, and a dine‑in kitchen with appliances
