Single-Story
New
For Sale
$199,900
277 Devinney Avenue, Louisville, OH 44641
ResidentialIncome, Louisville, OH
Property Size1,760 SF
Lot Size0.22 Acres
Price / SF$113.58
Days on Market6
Property Features for 277 Devinney Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Laundry Room, Basement, Bedroom 1
Parking features
Garage, Driveway
Exterior features
PrivateYard
Fireplace
1
Appliances
Range, Refrigerator
Subdivision
Louisville
Lot features
Dead End
Elementary school district
Louisville CSD - 7607
Middle school district
Louisville CSD - 7607
High school district
Louisville CSD - 7607
Directions
Route 44 /Ravenna Ave then West on DeVinney. This street is located just south of Downtown Louisville.
Standard status
Active
APN
03602418
Size
1,760 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 parcels consisting of .33A
Tax Annual Amount
1529
Legal Description
2 parcels consisting of .33A
Utilities
Sewer type
Public Sewer
Heating system
Fireplace(s)
Water source
Well
Building Details
Year built
1958
Floors in Building
1
Building materials
VinylSiding
Roof type
Metal
Listing Agency:
DeHOFF REALTORS
(330) 499-8153
Listed By:
David L Maltese · License #403199
(330) 936-0865
Added: Sep 28
Last Checked: Oct 3 at 5:06AM
MLS# 5248793
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.
Built in 1958, this 1,760-square-foot duplex offers a single-story layout on a 0.2204-acre parcel. The room count includes three bedrooms and two bathrooms, along with laundry and basement space. Vinyl siding, a metal roof, a private yard, a garage, and a driveway are among the property features. A range and refrigerator are included, and the home has a fireplace. The roof over the back patio needs repair, and the property is being sold as-is.
The property is at 277 Devinney Avenue in Louisville, Ohio. One residence is vacant; the other has a month-to-month tenancy. Water is supplied by a well, and the property connects to public sewer.
The property is at 277 Devinney Avenue in Louisville, Ohio. One residence is vacant; the other has a month-to-month tenancy. Water is supplied by a well, and the property connects to public sewer.
Key Highlights
- 1,760‑square‑foot, single‑story duplex built in 1958
- 0.2204‑acre parcel with private yard
- Three bedrooms, two bathrooms, laundry room, and basement
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
$14,722
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
7.36%
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%
$294,440
$294.4K
Cap Rate 7%
$210,314
$210.3K
Cap Rate 9%
$163,578
$163.6K
Market Conditions
NOI Build-Up for 1,760 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
$21.8K $12.36/SF
− Vacancy
−$722 −$0.41/SF
EGI
$21.0K $11.95/SF
− OpEx
−$6.3K −$3.58/SF
NOI
$14.7K $8.36/SF
Area
Stark County, OH
Vacancy
3.32%
Lease Rate
$12.36 /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%
$294,440
Cap Rate 7%
$210,314
Cap Rate 9%
$163,578
Alternative Uses
Best Use
Multifamily LT 5
$210.3K
$184.0K – $245.4K
NOI $14,722 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$184.2K
$161.1K – $214.9K
NOI $12,891 @ 7.0% cap · market cap 6.45%
Theoretical Best
Retail
$459.5K
$402.1K – $536.1K
NOI $32,166 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 44641, OH
20,399
Population
8,412
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
54.9 sq mi
ZIP Area
372
Density / Sq Mi
$78,128
Median Household Income
$42,035
Median Earnings
$834
Median Rent
$199,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the other is occupied under a month-to-month lease.
Where is this duplex located?
The property is located at 277 Devinney Avenue Louisville, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,760‑square‑foot, single‑story duplex built in 1958; 0.2204‑acre parcel with private yard; Three bedrooms, two bathrooms, laundry room, and basement
