Two-Unit
New
For Sale
$119,900
406 Franklin Avenue, Salem, OH 44460
ResidentialIncome, Salem, OH
Property Size1,504 SF
Lot Size0.07 Acres
Price / SF$79.72
Days on Market4
Property Features for 406 Franklin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3
Parking features
Driveway
Subdivision
Zadok 03
Elementary school district
Salem CSD - 1508
Middle school district
Salem CSD - 1508
High school district
Salem CSD - 1508
Directions
Take S. Lincoln Ave toward Salem. Turn west onto Franklin Ave. Continue on Franklin Ave to 406 Franklin Ave, just before Broadway Ave.
Standard status
Active
APN
5103464000
Size
1,504 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT LOT 401 ZADOK ST 3RD ADD 45' FRANKLIN AVE 0.0681AC
Tax Annual Amount
725
Legal Description
PT LOT 401 ZADOK ST 3RD ADD 45' FRANKLIN AVE 0.0681AC
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
laundry
Building Details
Year built
1930
Floors in Building
2
Building materials
VinylSiding
Roof type
Shingle
Listing Agency:
Keller Williams Chervenic Rlty · Keller Williams Realty
(330) 967-4300
Listed By:
Holly Ritchie · License #2001021919
(330) 360-5323
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 11 at 6:06AM
MLS# 5251329
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.
This two-story duplex contains two residences within 1,504 square feet. Each unit has two bedrooms, one full bathroom, and a kitchen. The lower unit also includes a dining room. Both units have access to basement laundry, with additional basement utility and storage space. The home was built in 1930 and has vinyl siding, forced-air heat, and a shingle roof.
The 0.0681-acre property has driveway parking and public water and sewer service. It is located in Salem, Ohio.
The 0.0681-acre property has driveway parking and public water and sewer service. It is located in Salem, Ohio.
Key Highlights
- Two units, each with 2 bedrooms, 1 full bathroom, and a kitchen
- 1,504 square feet across a two‑story duplex
- Lower residence includes a dining room
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, a full bath, and its own 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 units, each with 2 bedrooms, 1 full bathroom, and a kitchen; 1,504 square feet across a two‑story duplex; Lower residence includes a dining room
