Brick Quadplex with Coin
New
For Sale
$300,000
681 Cook Avenue, Boardman, OH 44512
ResidentialIncome, Boardman, OH
Property Size3,456 SF
Lot Size0.11 Acres
Price / SF$86.81
Days on Market2
Property Features for 681 Cook Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Laundry Room, Bathroom 1, Bedroom 8
Parking features
Carport
Subdivision
Suburban Homesites
Elementary school district
Boardman LSD - 5002
Middle school district
Boardman LSD - 5002
High school district
Boardman LSD - 5002
Directions
Head north on Market St 1.1 mi Turn right onto Meadowbrook Ave 1.2 mi Turn right onto Afton Ave 0.2 mi Turn right onto Evans Ave 338 ft Turn right onto Cook Ave Destination will be on the left 0.2 mi
Standard status
Active
APN
29-015-0-287.00-0
Size
3,456 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 44 40 X 115 THE SUBURBAN HOMESITE CO
Tax Annual Amount
4235
Legal Description
LOT 44 40 X 115 THE SUBURBAN HOMESITE CO
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Other (Heating)
Cooling system
Window Unit(s)
Water source
Public
Amenities
coin-operated laundry
carport
Building Details
Year built
1972
Floors in Building
2
Building materials
Brick
Roof type
Fiberglass, Asphalt
Listing Agency:
Gonatas Real Estate LLC
(330) 729-5004
Listed By:
Dennis D Gonatas Sr. · License #2023000272
(330) 501-8300
Added: Aug 21
Last Checked: Aug 22 at 3:06AM
MLS# 5235799
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 3,456-square-foot quadplex contains four occupied apartments, each measuring approximately 750 square feet with two bedrooms, a living room, eat-in kitchen, and full bathroom. The all-brick building was constructed in 1972 and includes boiler heat, window-unit cooling, coin-operated laundry, a carport, and additional rear parking. Public water and sewer serve the property, with fiberglass and asphalt roofing. Tenants pay their own electric, while ownership currently covers gas, water, and trash.
The property is located at 681 Cook Avenue in Boardman, Ohio, within the Boardman School District and approximately 1 mile from Sam's Club and the Boardman corridor's shopping, dining, and other amenities. The building offers eight total bedrooms, four full bathrooms, and a uniform apartment configuration across all units.
The property is located at 681 Cook Avenue in Boardman, Ohio, within the Boardman School District and approximately 1 mile from Sam's Club and the Boardman corridor's shopping, dining, and other amenities. The building offers eight total bedrooms, four full bathrooms, and a uniform apartment configuration across all units.
Key Highlights
- Four occupied apartments totaling 3,456 square feet
- Each apartment is approximately 750 square feet with 2 bedrooms and 1 full bathroom
- All‑brick construction completed in 1972
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
$23,274
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
7.76%
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%
$465,480
$465.5K
Cap Rate 7%
$332,486
$332.5K
Cap Rate 9%
$258,600
$258.6K
Market Conditions
NOI Build-Up for 3,456 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
$35.3K $10.20/SF
− Vacancy
−$2.0K −$0.58/SF
EGI
$33.2K $9.62/SF
− OpEx
−$10.0K −$2.89/SF
NOI
$23.3K $6.73/SF
Area
Mahoning County, OH
Vacancy
5.68%
Lease Rate
$10.20 /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%
$465,480
Cap Rate 7%
$332,486
Cap Rate 9%
$258,600
Alternative Uses
Best Use
Multifamily LT 5
$332.5K
$290.9K – $387.9K
NOI $23,274 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$306.4K
$268.1K – $357.4K
NOI $21,446 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$652.2K
$570.7K – $760.9K
NOI $45,652 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
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?
Quadplex - Fully occupied apartment property with consistent layouts, tenant-paid electric, and on-site carport parking.
Where is this quadplex located?
The property is located at 681 Cook Avenue Boardman, OH.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Four occupied apartments totaling 3,456 square feet; Each apartment is approximately 750 square feet with 2 bedrooms and 1 full bathroom; All‑brick construction completed in 1972
