Separately Metered
New
For Sale
$109,900
3029 7th Street SW, Canton, OH 44710
Fully occupied residential income property with two independently accessed living units.
Property Size1,192 SF
Price / SF$92.20
Days on Market4
Property Features for 3029 7th Street SW
General Information
Standard status
Active
Size
1,192 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$20,760
Multifamily Units
2
Building Details
Year Built
1919
Buildings
1
Listing Agency:
EXP Realty, LLC.
Listed By:
Amanda Mercier · License #2019006637
(330) 977-5798
Source:
Carletonrealty
Added: Sep 21
Last Checked: Sep 24 at 7:17AM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
This 1,192-square-foot duplex, built in 1919, contains two separate living units with individual entrances and functional layouts. Separate metering serves each unit, supporting distinct utility management, while current occupancy provides an established operating profile.
The property is positioned near Aultman Hospital, schools, shopping, local amenities, and major routes. Its two-unit configuration offers residential income use in a compact property format.
The property is positioned near Aultman Hospital, schools, shopping, local amenities, and major routes. Its two-unit configuration offers residential income use in a compact property format.
Key Highlights
- Two‑unit duplex configuration with separate living spaces
- 1,192 square feet across the property
- Each unit has its own entrance
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
$9,971
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
9.07%
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%
$199,420
$199.4K
Cap Rate 7%
$142,443
$142.4K
Cap Rate 9%
$110,789
$110.8K
Market Conditions
NOI Build-Up for 1,192 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
$14.7K $12.36/SF
− Vacancy
−$489 −$0.41/SF
EGI
$14.2K $11.95/SF
− OpEx
−$4.3K −$3.58/SF
NOI
$10.0K $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%
$199,420
Cap Rate 7%
$142,443
Cap Rate 9%
$110,789
Alternative Uses
Best Use
Multifamily LT 5
$142.4K
$124.6K – $166.2K
NOI $9,971 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$124.7K
$109.1K – $145.5K
NOI $8,731 @ 7.0% cap · market cap 7.94%
Theoretical Best
Retail
$311.2K
$272.3K – $363.1K
NOI $21,785 @ 7.0% cap · market cap 19.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 44710, OH
9,309
Population
4,001
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
90%
High-School Grad
2.2 sq mi
ZIP Area
4,231
Density / Sq Mi
$50,453
Median Household Income
$35,733
Median Earnings
$921
Median Rent
$101,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully occupied residential income property with two independently accessed living units.
Where is this duplex located?
The property is located at 3029 7th Street SW Canton, OH.
What is the asking price?
The asking price for this property is $109,900.
What are key features of this property?
This property features: Two‑unit duplex configuration with separate living spaces; 1,192 square feet across the property; Each unit has its own entrance
