Triplex with Shared
For Sale
$339,900
Pending
541 & 547 E Main Street, Ravenna, OH 44266
ResidentialIncome, Ravenna, OH
Property Size2,208 SF
Lot Size1.06 Acres
Days on Market79
Property Features for 541 & 547 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 7, Laundry Room, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 2
Parking features
Garage, Driveway
Window features
Blinds
Interior features
Chandelier, EatInKitchen
Appliances
Dishwasher, Range, Refrigerator, Washer
Subdivision
Ravenna
Lot features
Back Yard, Flat, Level, Subdivided, Wooded
View
City
Elementary school district
Ravenna CSD - 6706
Middle school district
Ravenna CSD - 6706
High school district
Ravenna CSD - 6706
Directions
ROUTE 59
Standard status
Pending
APN
31-349-03-00-147-002
Size
2,208 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DIV S LOT 49
Tax Annual Amount
2727
Legal Description
DIV S LOT 49
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Berkshire Hathaway HomeServices Simon & Salhany Realty
(330) 929-0707
Listed By:
Leslee T Salhany · License #320795
(330) 958-1220
Added: Jun 19
Changed: Aug 20
Last Checked: Sep 5 at 1:06AM
MLS# 5220288
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 triplex includes a two-unit building behind a separate single-family residence at the front of the parcel. The duplex units have distinct gas and electric service and shared use of a 3-car garage. Interior features include equipped kitchens, laundry appliances, multiple bedrooms, and defined living and dining areas. The front home is tenant-occupied, with the tenant responsible for utilities, and includes a first-floor bedroom and full bath, additional bedrooms upstairs, a family room, office, and decorative non-functioning fireplace.
The property spans 1.06 acres at 541 and 547 E Main Street in Ravenna, Ohio. Public water and public sewer serve the property, with natural gas forced-air heat and central air. The improvements were built in 1901 and feature aluminum siding with asphalt and fiberglass roofing.
The property spans 1.06 acres at 541 and 547 E Main Street in Ravenna, Ohio. Public water and public sewer serve the property, with natural gas forced-air heat and central air. The improvements were built in 1901 and feature aluminum siding with asphalt and fiberglass roofing.
Key Highlights
- Three residential units: a rear duplex plus a separate front single‑family home
- Duplex units have separate gas and electric service
- Shared 3‑car garage with driveway parking
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
$19,221
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
5.65%
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%
$384,420
$384.4K
Cap Rate 7%
$274,586
$274.6K
Cap Rate 9%
$213,567
$213.6K
Market Conditions
NOI Build-Up for 2,208 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
$29.1K $13.20/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$27.5K $12.44/SF
− OpEx
−$8.2K −$3.73/SF
NOI
$19.2K $8.71/SF
Area
Portage County, OH
Vacancy
5.79%
Lease Rate
$13.20 /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%
$384,420
Cap Rate 7%
$274,586
Cap Rate 9%
$213,567
Alternative Uses
Best Use
Multifamily LT 5
$274.6K
$240.3K – $320.4K
NOI $19,221 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$254.1K
$222.4K – $296.5K
NOI $17,789 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$444.7K
$389.2K – $518.9K
NOI $31,132 @ 7.0% cap · market cap 9.16%
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
715
Businesses Nearby
Explore this area
Business Placement
Demographics for 44266, OH
32,606
Population
15,036
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
355
Density / Sq Mi
$61,211
Median Household Income
$40,068
Median Earnings
$904
Median Rent
$159,900
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 combine a rear duplex with a tenant-occupied front home and separately metered utilities.
Where is this triplex located?
The property is located at 541 & 547 E Main Street Ravenna, OH.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three residential units: a rear duplex plus a separate front single‑family home; Duplex units have separate gas and electric service; Shared 3‑car garage with driveway parking
