Two-Unit Residential
For Sale
$119,900
406 Franklin Avenue, Salem, OH 44460
Both apartments have two bedrooms, a full bath, and a private kitchen.
Property Size1,504 SF
Price / SF$79.72
Days on Market25
Property Features for 406 Franklin Avenue
General Information
Standard status
Active
Size
1,504 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$725
Amenities
laundry
storage space
Building Details
Building Size
1,504 SF
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
Keller Williams Chervenic Rlty
Listed By:
Holly Ritchie · License #2001021919
(330) 360-5323
Source:
Lifestagesrealty
Added: Oct 8
Changed: Nov 1
Last Checked: Oct 30 at 1:54AM
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 Keller Williams Chervenic Rlty
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Investment Insights
Based on property information with market context.
This two-story duplex contains 1,504 square feet and was built in 1930. Each apartment has two bedrooms, one full bathroom, a kitchen, and a living room. The lower apartment also includes a dining room. Both units have access to basement laundry, with additional utility and storage space in the basement.
The property is in Salem, close to shopping, restaurants, schools, parks, and other community amenities.
The property is in Salem, close to shopping, restaurants, schools, parks, and other community amenities.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- 1,504‑square‑foot, two‑story duplex built in 1930
- A separate kitchen and living room in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,228
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,560
$204.6K
Cap Rate 7%
$146,114
$146.1K
Cap Rate 9%
$113,644
$113.6K
Market Conditions
NOI Build-Up for 1,504 SF
Gross rent
$15.3K $10.20/SF
− Vacancy
−$729 −$0.48/SF
EGI
$14.6K $9.72/SF
− OpEx
−$4.4K −$2.91/SF
NOI
$10.2K $6.80/SF
Area
Columbiana County, OH
Vacancy
4.75%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,560
Cap Rate 7%
$146,114
Cap Rate 9%
$113,644
Alternative Uses
Best Use
Multifamily LT 5
$146.1K
$127.9K – $170.5K
NOI $10,228 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$134.7K
$117.9K – $157.2K
NOI $9,430 @ 7.0% cap · market cap 7.86%
Theoretical Best
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,931 @ 7.0% cap · market cap 74.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
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Business Placement
Demographics for 44460, OH
25,393
Population
11,595
Households
2.2
Avg Household Size
46
Median Age
20%
College-Educated
90%
High-School Grad
107.4 sq mi
ZIP Area
236
Density / Sq Mi
$59,882
Median Household Income
$35,912
Median Earnings
$770
Median Rent
$153,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have two bedrooms, a full bath, and a private kitchen.
Where is this duplex located?
The property is located at 406 Franklin Avenue Salem, OH.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; 1,504‑square‑foot, two‑story duplex built in 1930; A separate kitchen and living room in each unit
