Updated Duplex with Two- and One-Bedroom
For Sale
$145,000
499 Brown Street, Akron, OH 44311
MULTI_FAMILY - Akron, OH
Property Size1,454 SF
Lot Size0.24 Acres
Price / SF$99.72
Days on Market134
Property Features for 499 Brown Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Driveway
Appliances
Range, Refrigerator
Subdivision
Voris
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
271S to exit 18A, take exit 1B toward Canal Park, continue onto State Rd 8 S, RT to Goodkirk St, RT onto E Exchange St, Left onto Brown St.
Standard status
Active
APN
6840645
Size
1,454 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VORIS LOT 215 ALL
Tax Annual Amount
2550
Legal Description
VORIS LOT 215 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
shared washer and dryer
Building Details
Year built
1884
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Tera Somogyi · License #2020005466
(561) 901-9331
Added: Apr 7
Changed: Aug 1
Last Checked: Aug 18 at 6:06AM
MLS# 5191431
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.
Updated duplex at 499 Brown Street in Akron, Ohio, with a first-floor two-bedroom unit and an upstairs one-bedroom unit. Each unit has its own full bathroom, and the home includes a basement. The property’s mechanical and interior updates include a brand-new roof installed in 2025, a 2018 furnace, and a 2017 water heater. Electrical panels and flooring have been updated, and each unit includes modern conveniences such as a shared washer and dryer installed in 2021, plus a mix of newer refrigerators and ranges. Interior improvements also include a newer shower and vanity in the upstairs unit.
Constructed in 1884 with aluminum siding and forced-air heating, the home is served by public water and public sewer. Parking is available via a driveway, and the property includes asphalt and fiberglass roofing materials.
The duplex is listed as available for individual purchase, and it is also noted as part of a broader portfolio on Brown Street.
Constructed in 1884 with aluminum siding and forced-air heating, the home is served by public water and public sewer. Parking is available via a driveway, and the property includes asphalt and fiberglass roofing materials.
The duplex is listed as available for individual purchase, and it is also noted as part of a broader portfolio on Brown Street.
Key Highlights
- Brand‑new roof installed in 2025
- First‑floor two‑bedroom and upstairs one‑bedroom layout, each with a full bathroom
- Shared washer and dryer installed in 2021, plus newer refrigerators and ranges
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
$13,315
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
9.18%
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%
$266,300
$266.3K
Cap Rate 7%
$190,214
$190.2K
Cap Rate 9%
$147,944
$147.9K
Market Conditions
NOI Build-Up for 1,454 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
$20.1K $13.80/SF
− Vacancy
−$1.0K −$0.72/SF
EGI
$19.0K $13.08/SF
− OpEx
−$5.7K −$3.92/SF
NOI
$13.3K $9.16/SF
Area
Akron, OH
Vacancy
5.20%
Lease Rate
$13.80 /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%
$266,300
Cap Rate 7%
$190,214
Cap Rate 9%
$147,944
Alternative Uses
Best Use
Multifamily LT 5
$190.2K
$166.4K – $221.9K
NOI $13,315 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$166.5K
$145.7K – $194.3K
NOI $11,657 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$356.8K
$312.2K – $416.3K
NOI $24,978 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 44311, OH
6,993
Population
3,400
Households
2.1
Avg Household Size
28
Median Age
10%
College-Educated
79%
High-School Grad
1.9 sq mi
ZIP Area
3,681
Density / Sq Mi
$23,857
Median Household Income
$14,953
Median Earnings
$790
Median Rent
$64,000
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 - Updated Akron duplex with two-bed first-floor unit and one-bed upstairs unit, each with a full bathroom.
Where is this duplex located?
The property is located at 499 Brown Street Akron, OH.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Brand‑new roof installed in 2025; First‑floor two‑bedroom and upstairs one‑bedroom layout, each with a full bathroom; Shared washer and dryer installed in 2021, plus newer refrigerators and ranges
