Duplex with Attached
For Sale
$299,900
Pending
2632 Summit Road, Ravenna, OH 44266
ResidentialIncome, Ravenna, OH
Property Size1,432 SF
Lot Size2.26 Acres
Days on Market48
Property Features for 2632 Summit Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Garage
Interior features
CathedralCeilings, HighCeilings
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Battaglia Sub
Elementary school district
Ravenna CSD - 6706
Middle school district
Ravenna CSD - 6706
High school district
Ravenna CSD - 6706
Directions
261 to Summit Road
Standard status
Pending
APN
29-359-00-00-006-002
Size
1,432 SF
Lot size
2.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BATTAGLIA SUBD LOT 4
Tax Annual Amount
3666
Legal Description
BATTAGLIA SUBD LOT 4
Utilities
Sewer type
Septic Tank
Heating system
Baseboard
Water source
Well
Amenities
wood-burning fireplaces
private outdoor spaces
Building Details
Year built
1980
Floors in Building
2
Building materials
WoodSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Chervenic Rlty · Keller Williams Realty
(330) 836-4300
Listed By:
Dannie Moore · License #2005016707
(330) 607-8445
Added: Jul 5
Changed: Aug 20
Last Checked: Aug 21 at 3:06PM
MLS# 5224751
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.
Investment Insights
Based on property information with market context.
This duplex property is set on 2.26 acres and offers 1,432 square feet under roof, built in 1980. The home’s interior features cathedral ceilings and high ceilings, with updated kitchen and bath finishes plus durable flooring throughout. Each unit includes a wood-burning fireplace, private outdoor space, and attached garages with separate entrances.
One unit is currently occupied by a month-to-month tenant, and the second unit is vacant and move-in ready. The property is served by well water and a septic tank. Heating is baseboard, and the roof is described as asphalt with fiberglass components. Construction is wood siding.
Located in Ravenna, the property is described as just minutes from Kent State University, with shopping, dining, downtown Kent, and major highways also nearby.
One unit is currently occupied by a month-to-month tenant, and the second unit is vacant and move-in ready. The property is served by well water and a septic tank. Heating is baseboard, and the roof is described as asphalt with fiberglass components. Construction is wood siding.
Located in Ravenna, the property is described as just minutes from Kent State University, with shopping, dining, downtown Kent, and major highways also nearby.
Key Highlights
- 2.26 acres with 1,432 SF duplex built in 1980
- Cathedral ceilings and high ceilings throughout
- Wood‑burning fireplaces plus private outdoor space for each unit
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
$12,466
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
4.16%
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%
$249,320
$249.3K
Cap Rate 7%
$178,086
$178.1K
Cap Rate 9%
$138,511
$138.5K
Market Conditions
NOI Build-Up for 1,432 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
$18.9K $13.20/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$17.8K $12.44/SF
− OpEx
−$5.3K −$3.73/SF
NOI
$12.5K $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 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%
$249,320
Cap Rate 7%
$178,086
Cap Rate 9%
$138,511
Alternative Uses
Best Use
Multifamily LT 5
$178.1K
$155.8K – $207.8K
NOI $12,466 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$164.8K
$144.2K – $192.3K
NOI $11,537 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$288.4K
$252.4K – $336.5K
NOI $20,191 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 44266, OH
32,606
Population
15,036
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
355
Density / Sq Mi
$61,211
Median Household Income
$40,068
Median Earnings
$904
Median Rent
$159,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex in Ravenna on a wooded setting with attached garages, cathedral and high ceilings, and one unit month-to-month occupied.
Where is this duplex located?
The property is located at 2632 Summit Road Ravenna, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2.26 acres with 1,432 SF duplex built in 1980; Cathedral ceilings and high ceilings throughout; Wood‑burning fireplaces plus private outdoor space for each unit
