Side-by-Side Duplex with
For Sale
$269,900
3800 Grace Dr, Kent, OH 44240
Two-unit residential property with flexible occupancy, private outdoor areas, and recent exterior improvements.
Property Size2,392 SF
Price / SF$112.83
Days on Market151
Property Features for 3800 Grace Dr
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 4BR/1.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,082
Amenities
exterior patios
first-floor laundry
Building Details
Buildings
1
Listing Agency:
EXP Realty, LLC.
(330) 329-6904
Listed By:
Ryan Shaffer · License #2019000757
(330) 329-6904
Source:
Exprealty
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 29 at 3:47PM
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 side-by-side duplex contains 2,392 square feet across two residential units. Each unit includes four bedrooms, 1.5 baths, a living room, eat-in kitchen, first-floor laundry, and an exterior patio. One unit is vacant, while the occupied unit is leased month-to-month. Recent improvements include new siding and gutters.
The property occupies nearly an acre at 3800 Grace Dr in Kent, Ohio. Its position at the end of a dead-end street provides a wooded setting with added separation from through traffic. The configuration offers two separate living spaces with outdoor areas and flexible occupancy options.
The property occupies nearly an acre at 3800 Grace Dr in Kent, Ohio. Its position at the end of a dead-end street provides a wooded setting with added separation from through traffic. The configuration offers two separate living spaces with outdoor areas and flexible occupancy options.
Key Highlights
- 2,392‑square‑foot side‑by‑side duplex
- Each unit has 4 bedrooms and 1.5 baths
- One unit is currently vacant; the occupied unit is month‑to‑month
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
$20,822
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
7.71%
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%
$416,440
$416.4K
Cap Rate 7%
$297,457
$297.5K
Cap Rate 9%
$231,356
$231.4K
Market Conditions
NOI Build-Up for 2,392 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
$31.6K $13.20/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$29.7K $12.44/SF
− OpEx
−$8.9K −$3.73/SF
NOI
$20.8K $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%
$416,440
Cap Rate 7%
$297,457
Cap Rate 9%
$231,356
Alternative Uses
Best Use
Multifamily LT 5
$297.5K
$260.3K – $347.0K
NOI $20,822 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$275.3K
$240.9K – $321.2K
NOI $19,271 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$481.8K
$421.6K – $562.1K
NOI $33,727 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
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
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 - Two-unit residential property with flexible occupancy, private outdoor areas, and recent exterior improvements.
Where is this duplex located?
The property is located at 3800 Grace Dr Kent, OH.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,392‑square‑foot side‑by‑side duplex; Each unit has 4 bedrooms and 1.5 baths; One unit is currently vacant; the occupied unit is month‑to‑month
