Triplex with Basement
For Sale
$249,000
514 Brown St, Akron, OH 44311
Three separately configured units share basement laundry and storage, with a front porch serving the larger lower-level residence.
Property Size2,765 SF
Price / SF$90.05
Days on Market19
Property Features for 514 Brown St
General Information
Standard status
Active
Size
2,765 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,978
Amenities
front porch
washer and dryer
basement storage
Listing Agency:
Century 21 Carolyn Riley RL. Est. Srvcs, Inc.
(330) 313-6624
Listed By:
Mark Platts · License #2024005333
(330) 313-6624
Source:
Exprealty
Added: Aug 4
Changed: Aug 20
Last Checked: Aug 22 at 9:16AM
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 Century 21 Carolyn Riley RL. Est. Srvcs, Inc.
Investment Insights
Based on property information with market context.
This 2,765 SF triplex contains three residential units arranged across the building. The lower level offers a four-bedroom, two-bath layout with a front porch, while the upper floor includes separate one-bedroom, one-bath and two-bedroom, two-bath units. The configuration provides a varied unit mix within one income-producing property.
Residents share basement laundry facilities and have access to basement storage. The property is located at 514 Brown St in Akron, Ohio, within walking distance of the University of Akron.
Residents share basement laundry facilities and have access to basement storage. The property is located at 514 Brown St in Akron, Ohio, within walking distance of the University of Akron.
Key Highlights
- Three‑unit triplex with 2,765 SF of property size
- Lower unit includes 4 bedroom and 2 bathroom layout
- Upper‑level units include 1 bed and 1 bath, plus 2 bed and 2 bath
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
$22,167
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
8.90%
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%
$443,340
$443.3K
Cap Rate 7%
$316,671
$316.7K
Cap Rate 9%
$246,300
$246.3K
Market Conditions
NOI Build-Up for 2,765 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
$42.5K $15.36/SF
− Vacancy
−$2.2K −$0.78/SF
EGI
$40.3K $14.58/SF
− OpEx
−$18.1K −$6.56/SF
NOI
$22.2K $8.02/SF
Area
Akron, OH
Vacancy
5.10%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$443,340
Cap Rate 7%
$316,671
Cap Rate 9%
$246,300
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $422.0K
NOI $25,321 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$316.7K
$277.1K – $369.5K
NOI $22,167 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$678.6K
$593.7K – $791.7K
NOI $47,499 @ 7.0% cap · market cap 19.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,018
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?
Triplex - Three separately configured units share basement laundry and storage, with a front porch serving the larger lower-level residence.
Where is this triplex located?
The property is located at 514 Brown St Akron, OH.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,765 SF of property size; Lower unit includes 4 bedroom and 2 bathroom layout; Upper‑level units include 1 bed and 1 bath, plus 2 bed and 2 bath
