Two-Triplex Package with Private
For Sale
$199,900
539 Kling Street, Akron, OH 44311
Two triplexes are offered together with an adjoining private parking parcel near the University of Akron.
Property Size1,418 SF
Days on Market49
Property Features for 539 Kling Street
General Information
Standard status
Active
Size
1,418 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,021
Building Details
Building Size
1,418 SF
Year Built
1905
Buildings
1
Stories
3
Listing Agency:
Keller Williams Chervenic Rlty
(330) 338-9047
Listed By:
Jodi L Mignano · License #2005004349
(330) 338-9047
Source:
Carolgoffrealestate
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 30 at 7:00AM
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 Chervenic Rlty
Investment Insights
Based on property information with market context.
The offering includes the triplex at 539 Kling Street and a second triplex at 543 Kling Street. Both properties are being sold together with an adjoining parcel behind the buildings that provides private parking. The 539 Kling Street building dates to 1905, and tenants are responsible for all utilities.
The properties are positioned near the University of Akron, the Zip Strip, restaurants, and other campus conveniences. The university and nearby commercial destinations are within a short walk, placing the package in a student-oriented rental setting.
The properties are positioned near the University of Akron, the Zip Strip, restaurants, and other campus conveniences. The university and nearby commercial destinations are within a short walk, placing the package in a student-oriented rental setting.
Key Highlights
- Two triplexes offered together at 539 and 543 Kling Street
- Adjoining parcel behind both properties provides private parking
- Near the University of Akron, the Zip Strip, restaurants, and campus conveniences
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
$12,986
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
6.50%
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%
$259,720
$259.7K
Cap Rate 7%
$185,514
$185.5K
Cap Rate 9%
$144,289
$144.3K
Market Conditions
NOI Build-Up for 1,418 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
$19.6K $13.80/SF
− Vacancy
−$1.0K −$0.72/SF
EGI
$18.6K $13.08/SF
− OpEx
−$5.6K −$3.92/SF
NOI
$13.0K $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%
$259,720
Cap Rate 7%
$185,514
Cap Rate 9%
$144,289
Alternative Uses
Best Use
Multifamily LT 5
$185.5K
$162.3K – $216.4K
NOI $12,986 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$162.4K
$142.1K – $189.5K
NOI $11,368 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$348.0K
$304.5K – $406.0K
NOI $24,359 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Two triplexes are offered together with an adjoining private parking parcel near the University of Akron.
Where is this triplex located?
The property is located at 539 Kling Street Akron, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two triplexes offered together at 539 and 543 Kling Street; Adjoining parcel behind both properties provides private parking; Near the University of Akron, the Zip Strip, restaurants, and campus conveniences
