Two-Unit Brick
For Sale
$260,000
Pending
6640 Palmer Drive NW, Canton, OH 44718
ResidentialIncome, Canton, OH
Property Size1,782 SF
Lot Size0.34 Acres
Days on Market48
Property Features for 6640 Palmer Drive NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Laundry Room
Parking features
Garage, Driveway
Subdivision
Terrace View Estates
Elementary school district
Jackson LSD - 7605
Middle school district
Jackson LSD - 7605
High school district
Jackson LSD - 7605
Directions
Portage to palmer
Standard status
Pending
APN
01607885
Size
1,782 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
18 WH TERRACE VIEW EST #2
Tax Annual Amount
3225
Legal Description
18 WH TERRACE VIEW EST #2
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Well
Amenities
central air conditioning
Building Details
Year built
1974
Floors in Building
2
Building materials
Brick, Block
Roof type
Asphalt
Listing Agency:
Keller Williams Legacy Group Realty · Keller Williams Realty
(330) 433-6005
Listed By:
Jamie M Kelley · License #2015000807
(330) 316-9626
Added: Jul 14
Changed: Aug 20
Last Checked: Aug 30 at 2:06PM
MLS# 5227404
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.
Located at 6640 Palmer Drive NW in Canton, Ohio, this 1974 duplex contains 1,782 square feet across two residential units. Each unit includes two bedrooms, one full bathroom, living space, and central air conditioning. Brick and block construction, an asphalt roof, forced-air natural gas heating, and a basement support the property’s functional design. Garage and driveway parking are provided on the 0.3444-acre lot.
Tenants are responsible for gas, electric, water, and other utilities, while the seller currently pays the sewer bill. The property is served by a private well and public sewer and is situated within the Jackson Local School District. Shopping, restaurants, parks, and major highways are located nearby. The layout also supports an owner-occupant arrangement with one household occupying a unit while the other unit provides rental income.
Tenants are responsible for gas, electric, water, and other utilities, while the seller currently pays the sewer bill. The property is served by a private well and public sewer and is situated within the Jackson Local School District. Shopping, restaurants, parks, and major highways are located nearby. The layout also supports an owner-occupant arrangement with one household occupying a unit while the other unit provides rental income.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- 1,782 square feet on a 0.3444‑acre lot
- Central air conditioning in both units
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
$14,906
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
5.73%
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%
$298,120
$298.1K
Cap Rate 7%
$212,943
$212.9K
Cap Rate 9%
$165,622
$165.6K
Market Conditions
NOI Build-Up for 1,782 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
$22.0K $12.36/SF
− Vacancy
−$731 −$0.41/SF
EGI
$21.3K $11.95/SF
− OpEx
−$6.4K −$3.58/SF
NOI
$14.9K $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%
$298,120
Cap Rate 7%
$212,943
Cap Rate 9%
$165,622
Alternative Uses
Best Use
Multifamily LT 5
$212.9K
$186.3K – $248.4K
NOI $14,906 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$186.5K
$163.2K – $217.5K
NOI $13,052 @ 7.0% cap · market cap 5.02%
Theoretical Best
Retail
$465.3K
$407.1K – $542.8K
NOI $32,568 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 44718, OH
12,607
Population
6,134
Households
2.1
Avg Household Size
47
Median Age
43%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
1,501
Density / Sq Mi
$86,171
Median Household Income
$50,613
Median Earnings
$871
Median Rent
$285,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained residential income property with central air, separate utility responsibility, and garage parking.
Where is this duplex located?
The property is located at 6640 Palmer Drive NW Canton, OH.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; 1,782 square feet on a 0.3444‑acre lot; Central air conditioning in both units
