Ranch-Style Duplex with
New
For Sale
$195,000
331 - 341 Smyth Ave, Alliance, OH 44601
One-story layout includes separate laundry areas and an attached garage.
Property Size2,040 SF
Lot Size1.75 Acres
Price / SF$95.59
Days on Market2
Property Features for 331 - 341 Smyth Ave
General Information
Standard status
Active
Size
2,040 SF
Lot size
1.75 Acres
Property subtype
Multi-Family
Occupancy
100%
Financials
Asking Price
$349,900
Gross Income
$27,000
Units
Unit Mix
2BR/1BA
Multifamily Units
2
Amenities
handicap accessible full bath
Building Details
Year Built
1968
Buildings
1
Stories
2
Construction
ranch
Listing Agency:
RE/MAX Edge Realty
Listed By:
Linda S Ashcraft · License #2005012293
(330) 760-4680
Source:
Groganzeiger
Added: Sep 12
Last Checked: Sep 12 at 2:48PM
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 RE/MAX Edge Realty
Investment Insights
Based on property information with market context.
This 2,040-square-foot duplex offers a single-level layout with two residential units, each featuring a living area, eat-in kitchen, laundry room, bedrooms, and bathroom space. The attached extra-deep garage provides one-car capacity, while newer vinyl windows, water tanks, and heat pumps serve the property. One bathroom is handicap accessible. Unit 341 has updated living-room flooring, white kitchen cabinetry, and appliances that convey. Unit 331 includes newer living-room carpeting, neutral finishes, and a built-in range and cooktop.
Set on a 0.47-acre lot at 331–341 Smyth Ave in Alliance, Ohio, the property uses well water and public sewer. Built-in hallway cabinetry adds storage near the bedroom and bath areas. The property is offered as-is.
Set on a 0.47-acre lot at 331–341 Smyth Ave in Alliance, Ohio, the property uses well water and public sewer. Built-in hallway cabinetry adds storage near the bedroom and bath areas. The property is offered as-is.
Key Highlights
- Duplex with 2,040 square feet on a 0.47‑acre lot
- Attached extra‑deep one‑car garage with access from both units
- Newer vinyl windows, water tanks, and heat pumps
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
$17,064
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
8.75%
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%
$341,280
$341.3K
Cap Rate 7%
$243,771
$243.8K
Cap Rate 9%
$189,600
$189.6K
Market Conditions
NOI Build-Up for 2,040 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
$25.2K $12.36/SF
− Vacancy
−$837 −$0.41/SF
EGI
$24.4K $11.95/SF
− OpEx
−$7.3K −$3.58/SF
NOI
$17.1K $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%
$341,280
Cap Rate 7%
$243,771
Cap Rate 9%
$189,600
Alternative Uses
Best Use
Multifamily LT 5
$243.8K
$213.3K – $284.4K
NOI $17,064 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$213.5K
$186.8K – $249.0K
NOI $14,942 @ 7.0% cap · market cap 7.66%
Theoretical Best
Retail
$532.6K
$466.1K – $621.4K
NOI $37,284 @ 7.0% cap · market cap 19.12%
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
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 44601, OH
33,688
Population
14,532
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
82.0 sq mi
ZIP Area
411
Density / Sq Mi
$61,887
Median Household Income
$33,773
Median Earnings
$803
Median Rent
$142,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - One-story layout includes separate laundry areas and an attached garage.
Where is this duplex located?
The property is located at 331 - 341 Smyth Ave Alliance, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Duplex with 2,040 square feet on a 0.47‑acre lot; Attached extra‑deep one‑car garage with access from both units; Newer vinyl windows, water tanks, and heat pumps
