Well-Maintained Duplex with
For Sale
$249,900
523 Delford Ave Nw, Massillon, OH 44646
Fully leased two-unit property with private unfinished basements and established rental occupancy.
Property Size2,046 SF
Price / SF$122.14
Days on Market10
Property Features for 523 Delford Ave Nw
General Information
Standard status
Active
Size
2,046 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,612
Listing Agency:
Keller Williams Legacy Group Realty
(330) 433-6005
Listed By:
Holly M Van Riper · License #2000000533
(330) 323-3872
Source:
Exprealty
Added: Sep 3
Changed: Sep 11
Last Checked: Sep 11 at 2:06PM
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 Keller Williams Legacy Group Realty
Investment Insights
Based on property information with market context.
This 2,046-square-foot duplex contains two residential units, each configured with 2 bedrooms and 1 full bathroom. Both units also include unfinished basements that provide additional storage space and may support future expansion, subject to applicable requirements. The property is described as well maintained and fully rented, with current tenants in place.
Located at 523 Delford Ave NW in Massillon, Ohio, the property has an established rental history and has remained consistently leased. Its two-unit configuration offers a straightforward multifamily format for an owner seeking an occupied residential income property.
Located at 523 Delford Ave NW in Massillon, Ohio, the property has an established rental history and has remained consistently leased. Its two-unit configuration offers a straightforward multifamily format for an owner seeking an occupied residential income property.
Key Highlights
- 2,046‑square‑foot duplex in Massillon, Ohio
- Two 2‑bedroom, 1‑bath units
- Unfinished basement included with each unit
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
$17,114
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
6.85%
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%
$342,280
$342.3K
Cap Rate 7%
$244,486
$244.5K
Cap Rate 9%
$190,156
$190.2K
Market Conditions
NOI Build-Up for 2,046 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
$25.3K $12.36/SF
− Vacancy
−$840 −$0.41/SF
EGI
$24.4K $11.95/SF
− OpEx
−$7.3K −$3.58/SF
NOI
$17.1K $8.36/SF
Area
Stark County, OH
Vacancy
3.32%
Lease Rate
$12.36 /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%
$342,280
Cap Rate 7%
$244,486
Cap Rate 9%
$190,156
Alternative Uses
Best Use
Multifamily LT 5
$244.5K
$213.9K – $285.2K
NOI $17,114 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$214.1K
$187.3K – $249.8K
NOI $14,986 @ 7.0% cap · market cap 6.00%
Theoretical Best
Retail
$534.2K
$467.4K – $623.2K
NOI $37,393 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 44646, OH
47,973
Population
20,817
Households
2.3
Avg Household Size
42
Median Age
25%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
1,666
Density / Sq Mi
$66,767
Median Household Income
$41,021
Median Earnings
$883
Median Rent
$181,600
Median Home Value
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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 - Fully leased two-unit property with private unfinished basements and established rental occupancy.
Where is this duplex located?
The property is located at 523 Delford Ave Nw Massillon, OH.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 2,046‑square‑foot duplex in Massillon, Ohio; Two 2‑bedroom, 1‑bath units; Unfinished basement included with each unit
