Updated Duplex with
New
For Sale
$120,000
973 Berwin Street, Akron, OH 44310
MULTI_FAMILY - Akron, OH
Property Size1,144 SF
Lot Size0.11 Acres
Price / SF$104.90
Days on Market3
Property Features for 973 Berwin Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Laundry Room, Basement, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2
Parking features
Garage
Subdivision
Myers
Lot features
City Lot
View
City
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
Cuyahoga Falls Ave to Berwin
Standard status
Active
APN
6739891
Size
1,144 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
I S MYERS LOT 300 ALL
Tax Annual Amount
2418
Legal Description
I S MYERS LOT 300 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1929
Floors in Building
2
Building materials
VinylSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Michael L Magno · License #2016003542
(216) 236-8849
Added: Aug 12
Last Checked: Aug 14 at 1:06PM
MLS# 5235958
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 1,144-square-foot duplex contains two residential units within a 1929-built property. The building features vinyl siding, a fiberglass and asphalt roof, forced-air natural gas heating, a garage, basement space, laundry room, four bedrooms, and two bathrooms. Recent improvements include a roof replacement, a furnace installed in 2025, a hot water tank added in 2023, and updated 100-amp electrical panels.
The property sits on a 0.1129-acre lot in Akron, Ohio, with public water and public sewer service. Both units are occupied, and professional management is currently in place. The existing property manager is willing to continue after a sale, supporting continuity of day-to-day operations.
The property sits on a 0.1129-acre lot in Akron, Ohio, with public water and public sewer service. Both units are occupied, and professional management is currently in place. The existing property manager is willing to continue after a sale, supporting continuity of day-to-day operations.
Key Highlights
- Two‑unit duplex measuring 1,144 Square Feet
- Fully occupied with professional management in place
- One furnace installed in 2025 and one hot water tank added in 2023
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
$10,476
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
8.73%
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%
$209,520
$209.5K
Cap Rate 7%
$149,657
$149.7K
Cap Rate 9%
$116,400
$116.4K
Market Conditions
NOI Build-Up for 1,144 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
$15.8K $13.80/SF
− Vacancy
−$821 −$0.72/SF
EGI
$15.0K $13.08/SF
− OpEx
−$4.5K −$3.92/SF
NOI
$10.5K $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%
$209,520
Cap Rate 7%
$149,657
Cap Rate 9%
$116,400
Alternative Uses
Best Use
Multifamily LT 5
$149.7K
$131.0K – $174.6K
NOI $10,476 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$131.0K
$114.7K – $152.9K
NOI $9,172 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$280.7K
$245.7K – $327.5K
NOI $19,652 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 44310, OH
24,984
Population
11,074
Households
2.3
Avg Household Size
35
Median Age
14%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
4,030
Density / Sq Mi
$38,912
Median Household Income
$32,593
Median Earnings
$925
Median Rent
$91,400
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 - Fully occupied two-unit property with professional management and recent mechanical and electrical improvements.
Where is this duplex located?
The property is located at 973 Berwin Street Akron, OH.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Two‑unit duplex measuring 1,144 Square Feet; Fully occupied with professional management in place; One furnace installed in 2025 and one hot water tank added in 2023
