High-Yield Investment Near YSU
816 Michigan Avenue, Youngstown, OH 44504
MULTI_FAMILY - Youngstown, OH
Property size:
1,785 SFLot size:
0.14 AcresPrice / SF:
$92/SF- Added:
- Sep 25, 2025
- Days on Market:
- 240
- Last Refresh:
- May 22 at 8:06 pm
Property Features for 816 Michigan Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Basement
- Parking features
- Driveway
- Standard status
- Active
- APN
- 53-005-0-278.00-0
- Size
- 1,785 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LOT 4888 50 X 150 MICHIGAN
- Tax Annual Amount
- 915
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1901
- Floors in Building
- 3
- Building materials
- VinylSiding
- Roof type
- Shingle
Listing agent Shawn Burton License #2020006722 (330) 519-5342
Listing office Keller Williams Chervenic Realty 8133 E Market St., Upper, Stow, OH (330) 967-4300
Listing date Sep 25, 2025
MLS# 5159890
Listing URL
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.
HighLights
- High‑yield investment opportunity with a 12.49% Cap Rate and potential to reach a 23.64% Pro‑Forma Cap Rate.
- Turnkey duplex operating on a profitable rent‑by‑the‑room model, with 57% occupancy at $575+ per room.
- Strategically located steps from Youngstown State University (YSU) campus with the YSU Penguin Shuttle stopping directly in front of the building.
- Low‑maintenance ownership with lean financials: average monthly expenses of $583 covering utilities, internet, and lawn care, plus a $150 repair reserve.
- Major capital expenditures already addressed: roof less than 5 years old and furnaces less than 10 years old.
- Each floor features a fully equipped kitchen and full bathroom, plus shared basement laundry, ample off‑street parking, and abundant storage.
Overview
Located near Youngstown State University, 816 Michigan Avenue is a duplex offering an investment opportunity. The property is currently operating at a 12.49% Cap Rate. The property utilizes a rent-by-the-room model, with 57% of the capacity already leased at $575+ per month. Each floor features its own fully equipped kitchen and full bathroom. Shared basement laundry, off-street parking, and storage space across the basement, garage, and attic are available. The owner's monthly expenses average $583, covering all utilities, high-speed internet, and lawn care, while maintaining a built-in $150 monthly reserve for repairs. The roof is less than five years old and the furnaces are under ten years old. The YSU Penguin Shuttle stops directly in front of the building, and Wick Park is nearby. The property size is 1,785 square feet, and the lot size is 0.135 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$133.6K
NOI $12,021 @ 9.00% cap · cautious / downside scenario
Moderate
$171.7K
NOI $12,021 @ 7.00% cap · market / base-case scenario
Aggressive
$240.4K
NOI $12,021 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.2k | $10.20 |
| − Vacancy | −$1.0k | −$0.58 |
| EGI | $17.2k | $9.62 |
| − OpEx | −$5.2k | −$2.89 |
| NOI | $12.0k | $6.73 |
1,785 SF · lease $10.20/SF/yr · vacancy 5.68% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$171.7K
$150.3K – $200.4K
NOI $12,021 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$158.2K
$138.5K – $184.6K
NOI $11,076 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$336.8K
$294.7K – $393.0K
NOI $23,579 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Youngstown
- County
- Mahoning
- State
- Ohio
- Longitude
- -80.650303
- Latitude
- 41.111839
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Turnkey duplex near Youngstown State University with immediate cash flow.
Where is this duplex located?
The property is located at 816 Michigan Avenue Youngstown, OH.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: High‑yield investment opportunity with a 12.49% Cap Rate and potential to reach a 23.64% Pro‑Forma Cap Rate.; Turnkey duplex operating on a profitable rent‑by‑the‑room model, with 57% occupancy at $575+ per room.; Strategically located steps from Youngstown State University (YSU) campus with the YSU Penguin Shuttle stopping directly in front of the building.
