Updated Duplex with
New
For Sale
$325,000
502 & 506 Grant Avenue, Cuyahoga Falls, OH 44221
ResidentialIncome, Cuyahoga Falls, OH
Property Size2,712 SF
Lot Size0.09 Acres
Price / SF$119.84
Days on Market1
Property Features for 502 & 506 Grant Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Basement, Laundry Room
Parking features
On Street, Garage, Off Street, Driveway
Appliances
Range, Refrigerator
Subdivision
Big Falls
Elementary school district
Cuyahoga Falls CSD - 7705
Middle school district
Cuyahoga Falls CSD - 7705
High school district
Cuyahoga Falls CSD - 7705
Directions
Corner of Grant and Meriline
Standard status
Active
APN
0208032
Size
2,712 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SV-BIG FALLS LOT 359 ALL
Tax Annual Amount
4466
Legal Description
SV-BIG FALLS LOT 359 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
deck
elevated deck
garage
wood burning fireplace
Building Details
Year built
1900
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Mosholder Realty Inc.
(330) 633-5536
Listed By:
Steven Mosholder · License #2007005247
(330) 554-6770
Added: Sep 15
Last Checked: Sep 15 at 10:06PM
MLS# 5245199
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 duplex contains 2,712 square feet across two updated residences. The first-floor unit provides 1,876 square feet with three bedrooms, two full bathrooms, a large kitchen, and a 22-by-17-foot great room with a wood-burning fireplace and deck access. The upper residence includes two bedrooms, a 22-by-10-foot living room, a renovated kitchen and full bathroom, in-unit laundry hookups, and an elevated deck. Both units feature updated flooring, paint, kitchens, and bathrooms, with stainless steel ranges and refrigerators. A waterproofed basement provides additional access and laundry hookups for the first-floor residence.
The 0.093-acre property includes public water and sewer, natural-gas forced-air heat, vinyl dual-pane windows, and aluminum siding. Exterior improvements include fresh paint, updated decks, and a new gravel driveway. The garage measures approximately 17'10" by 11'5" inside and can serve as parking or storage. Separate gas, electric, and water meters support tenant-paid utility arrangements. The property is located in Cuyahoga Falls near Front Street.
The 0.093-acre property includes public water and sewer, natural-gas forced-air heat, vinyl dual-pane windows, and aluminum siding. Exterior improvements include fresh paint, updated decks, and a new gravel driveway. The garage measures approximately 17'10" by 11'5" inside and can serve as parking or storage. Separate gas, electric, and water meters support tenant-paid utility arrangements. The property is located in Cuyahoga Falls near Front Street.
Key Highlights
- 2,712‑square‑foot duplex on a 0.093‑acre lot
- First‑floor unit measures 1,876 square feet with 3 bedrooms and 2 full bathrooms
- Upper unit includes 2 bedrooms, a 22x10 living room, renovated kitchen, and full bathroom
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
$24,836
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
7.64%
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%
$496,720
$496.7K
Cap Rate 7%
$354,800
$354.8K
Cap Rate 9%
$275,956
$276.0K
Market Conditions
NOI Build-Up for 2,712 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
$37.4K $13.80/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$35.5K $13.08/SF
− OpEx
−$10.6K −$3.92/SF
NOI
$24.8K $9.16/SF
Area
Summit County, 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%
$496,720
Cap Rate 7%
$354,800
Cap Rate 9%
$275,956
Alternative Uses
Best Use
Multifamily LT 5
$354.8K
$310.5K – $413.9K
NOI $24,836 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$310.6K
$271.8K – $362.4K
NOI $21,743 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$665.5K
$582.4K – $776.5K
NOI $46,588 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 44221, OH
29,601
Population
14,379
Households
2.1
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
6.4 sq mi
ZIP Area
4,625
Density / Sq Mi
$61,893
Median Household Income
$40,060
Median Earnings
$1,026
Median Rent
$160,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences offer flexible occupancy, separate utility metering, decks, and a detached garage or storage area.
Where is this duplex located?
The property is located at 502 & 506 Grant Avenue Cuyahoga Falls, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,712‑square‑foot duplex on a 0.093‑acre lot; First‑floor unit measures 1,876 square feet with 3 bedrooms and 2 full bathrooms; Upper unit includes 2 bedrooms, a 22x10 living room, renovated kitchen, and full bathroom
