Three-Unit Triplex with Basement
For Sale
$249,000
514 Brown Street, Akron, OH 44311
MULTI_FAMILY - Akron, OH
Property Size2,765 SF
Lot Size0.14 Acres
Price / SF$90.05
Days on Market9
Property Features for 514 Brown Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bathroom 2, Basement, Bedroom 5, Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 7, Laundry Room, Bathroom 1
Window features
Aluminum Frames
Appliances
Cooktop, Dryer, Refrigerator, Washer
Subdivision
Voris & Steinbacher
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
To reach 514 Brown Street (Akron, OH 44311) from the north/Route 8 area: take State Route 8 S, take the exit toward Buchtel Ave/Carroll St, turn right onto E. Exchange Street, and then turn left onto Brown Street
Standard status
Active
APN
6810691
Size
2,765 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VORIS LOT 198 S 38 2/3 FT
Tax Annual Amount
2978
Legal Description
VORIS LOT 198 S 38 2/3 FT
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
front porch
washer and dryer
basement storage
Building Details
Year built
1894
Floors in Building
3
Building materials
AluminumSiding
Roof type
Aluminum
Listing Agency:
Century 21 Carolyn Riley RL. Est. Srvcs, Inc.
(330) 867-4266
Listed By:
Mark Platts · License #2024005333
(330) 313-6624
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 11 at 8:06PM
MLS# 5232631
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 2,765-square-foot triplex, built in 1894, contains three residential units with a varied bedroom and bathroom mix. The main-level apartment includes four bedrooms and two bathrooms, while the upper level is divided into one-bedroom, one-bathroom and two-bedroom, two-bathroom units. A front porch serves the larger apartment as outdoor space.
Residents share basement laundry facilities with a washer and dryer, and each unit has access to basement storage. The property is located within walking distance of the University of Akron. Aluminum siding, an aluminum roof, natural gas heating, public water, and public sewer are among the existing property features. Included appliances consist of a cooktop, refrigerator, washer, and dryer.
Residents share basement laundry facilities with a washer and dryer, and each unit has access to basement storage. The property is located within walking distance of the University of Akron. Aluminum siding, an aluminum roof, natural gas heating, public water, and public sewer are among the existing property features. Included appliances consist of a cooktop, refrigerator, washer, and dryer.
Key Highlights
- Three‑unit triplex with 2,765 square feet of property size
- Unit mix includes 4 bedrooms/2 bathrooms, 1 bedroom/1 bathroom, and 2 bedrooms/2 bathrooms
- Built in 1894 with aluminum siding and an aluminum roof
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
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?
Triplex - Three residential units offer varied layouts, shared laundry facilities, and basement storage near the University of Akron.
Where is this triplex located?
The property is located at 514 Brown Street 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 square feet of property size; Unit mix includes 4 bedrooms/2 bathrooms, 1 bedroom/1 bathroom, and 2 bedrooms/2 bathrooms; Built in 1894 with aluminum siding and an aluminum roof
