Renovated Cape Cod
For Sale
$329,900
Pending
7217 Pennsylvania Ave, Poland, OH 44514
Three updated rental units with two leases extending through 2027 and recent exterior and building-system improvements.
Property Size3,011 SF
Days on Market19
Property Features for 7217 Pennsylvania Ave
General Information
Standard status
Pending
Size
3,011 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,658
Building Details
Buildings
1
Construction
Cape Cod
Listing Agency:
CENTURY 21 Lakeside Realty
(330) 565-1085
Listed By:
Dawn R Nicholas · License #2001014344
(330) 565-1085
Source:
Exprealty
Added: Jul 22
Changed: Aug 9
Last Checked: Aug 9 at 6:00AM
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 CENTURY 21 Lakeside Realty
Investment Insights
Based on property information with market context.
This Cape Cod triplex contains 3,011 square feet and has been renovated across all three units. Improvements include a new roof, replacement windows, updated electrical, front and rear concrete porches, a garage door, tree removal, and a newly installed egress window serving the lower-level bedroom. Interior updates include kitchens, bathrooms, flooring, paint, and fixtures. The first-floor residence offers two bedrooms, one full bathroom, a living room, kitchen, and dining area. The upper and lower units provide additional rental accommodations, with the lower level including a private living area and egress bedroom.
Two units are leased through 2027. The first-floor tenant pays all utilities, while utilities are currently included for the upper and lower apartments. The property is located at 7217 Pennsylvania Ave in Poland, Ohio, within the Poland School District and Boardman Township. Major highways, shopping, restaurants, and employment centers are identified as accessible from the property.
Two units are leased through 2027. The first-floor tenant pays all utilities, while utilities are currently included for the upper and lower apartments. The property is located at 7217 Pennsylvania Ave in Poland, Ohio, within the Poland School District and Boardman Township. Major highways, shopping, restaurants, and employment centers are identified as accessible from the property.
Key Highlights
- 3,011‑square‑foot Cape Cod triplex with three renovated units
- Two units leased through 2027
- New roof, replacement windows, and updated electrical
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
$20,277
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
6.15%
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%
$405,540
$405.5K
Cap Rate 7%
$289,671
$289.7K
Cap Rate 9%
$225,300
$225.3K
Market Conditions
NOI Build-Up for 3,011 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
$30.7K $10.20/SF
− Vacancy
−$1.7K −$0.58/SF
EGI
$29.0K $9.62/SF
− OpEx
−$8.7K −$2.89/SF
NOI
$20.3K $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%
$405,540
Cap Rate 7%
$289,671
Cap Rate 9%
$225,300
Alternative Uses
Best Use
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,277 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$266.9K
$233.6K – $311.4K
NOI $18,684 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$568.2K
$497.2K – $662.9K
NOI $39,774 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Explore this area
Business Placement
Demographics for 44514, OH
22,599
Population
10,368
Households
2.2
Avg Household Size
49
Median Age
37%
College-Educated
97%
High-School Grad
22.2 sq mi
ZIP Area
1,018
Density / Sq Mi
$80,000
Median Household Income
$45,486
Median Earnings
$973
Median Rent
$190,100
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 updated rental units with two leases extending through 2027 and recent exterior and building-system improvements.
Where is this triplex located?
The property is located at 7217 Pennsylvania Ave Poland, OH.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 3,011‑square‑foot Cape Cod triplex with three renovated units; Two units leased through 2027; New roof, replacement windows, and updated electrical
