Remodeled Two-Unit
New
For Sale
$159,000
802 S Jenkins Boulevard, Akron, OH 44306
Income-producing duplex with updated interiors, separate utility metering, and flexible month-to-month tenancy.
Property Size1,242 SF
Price / SF$128.02
Days on Market5
Property Features for 802 S Jenkins Boulevard
General Information
Standard status
Active
Size
1,242 SF
Property subtype
Multi-Family
Building Details
Year Built
1964
Listing Agency:
Ohio Broker Direct
(614) 989-7215
Listed By:
Joan Elflein · License #386319
Source:
Kmlkrealty
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 21 at 9:30AM
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 Ohio Broker Direct
Investment Insights
Based on property information with market context.
Located at 802 S Jenkins Boulevard in Akron, this fully renovated duplex contains two one-bedroom, one-bath units totaling 1,242 square feet. Each residence includes a living room, dining area, kitchen, one-car garage, washer and dryer hookups, forced-hot-air heat, and wall-mounted air conditioning. Recent improvements include a 2026 roof, gutters, windows, appliances, and interior finishes.
Both units are occupied under month-to-month leases, and each is separately metered. Tenants pay gas, electric, water, sewer, and trash, while ownership covers real estate taxes, building insurance, and landscaping. The property was built in 1964 and offers a two-unit configuration with established occupancy and lease flexibility.
Both units are occupied under month-to-month leases, and each is separately metered. Tenants pay gas, electric, water, sewer, and trash, while ownership covers real estate taxes, building insurance, and landscaping. The property was built in 1964 and offers a two-unit configuration with established occupancy and lease flexibility.
Key Highlights
- Two‑unit duplex with 1,242 square feet
- Each unit offers 1 bedroom, 1 bath, and approximately 621 square feet
- 100 percent occupancy with both tenants on month‑to‑month leases
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
$11,374
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
7.15%
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%
$227,480
$227.5K
Cap Rate 7%
$162,486
$162.5K
Cap Rate 9%
$126,378
$126.4K
Market Conditions
NOI Build-Up for 1,242 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
$17.1K $13.80/SF
− Vacancy
−$891 −$0.72/SF
EGI
$16.2K $13.08/SF
− OpEx
−$4.9K −$3.92/SF
NOI
$11.4K $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%
$227,480
Cap Rate 7%
$162,486
Cap Rate 9%
$126,378
Alternative Uses
Best Use
Multifamily LT 5
$162.5K
$142.2K – $189.6K
NOI $11,374 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$142.2K
$124.5K – $166.0K
NOI $9,957 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$304.8K
$266.7K – $355.6K
NOI $21,336 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 44306, OH
21,085
Population
10,424
Households
2
Avg Household Size
34
Median Age
9%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
2,540
Density / Sq Mi
$41,105
Median Household Income
$30,481
Median Earnings
$901
Median Rent
$77,500
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?
Duplex - Income-producing duplex with updated interiors, separate utility metering, and flexible month-to-month tenancy.
Where is this duplex located?
The property is located at 802 S Jenkins Boulevard Akron, OH.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,242 square feet; Each unit offers 1 bedroom, 1 bath, and approximately 621 square feet; 100 percent occupancy with both tenants on month‑to‑month leases
