399 N Thomas Road
Tallmadge, OH 44278
- 5 beds
- 4 baths
- 1,588 sqft
- ~2 acre lot
- $128 per sqft
- 1948 build
- – on site
Don’t miss this incredible chance to own a four-unit investment in a peaceful, sought-after area of Tallmadge, sitting on an expansive nearly two acres of land! Spanning two parcels, the property includes a charming 1 bed, 1 bath house and a nice triplex on one adjacent to another that is vacant land. Currently bringing in over $30,000 in annual rent, with one unit vacant and being remodeled, there is a lot of potential to increase revenue when you lease the final unit and raise rents. The 1 bed 1 bath house is rented for $625 per month, unit 1 at the triplex is a 2 bed 1 bath and is rented for $965 per month, unit 2 is a 1 bed 1 bath that is currently being remodeled and unit 3 is a studio and rented for $670 per month. All tenants are on month to month leases. With a proforma cap rate of over 9.4% based on the asking price, this is a true gem for investors. The owner self-manages and bills back water, gas, and electric for the house and covers all utilities for the triplex for tenants convenience. Well cared for over the years, it has recent updates that include a new water heater (2024), 2 brand new roofs just installed and a 5-year-old furnace. This is a rare opportunity with strong cash flow and plenty of upside!
Last checked:
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Checking…
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Last updated Jan 20, 2025
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MLS# 5068624 —
The Building
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Year Built:1948
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Year Built Source:PublicRecords
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Construction Materials:Brick
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Levels:ThreeOrMore
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Roof:Asphalt,Fiberglass,Shingle
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Basement:Full
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Basement:true
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# of Buildings:2
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Above Grade Finished Area:1588.0
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Above Grade Finished Area Source:Owner
Room Dimensions
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Living Area:1588.0
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Living Area Units:SquareFeet
Location
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Directions:South of W Howe Rd
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Latitude:41.112662
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Longitude:-81.46262
The Property
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Parcel Number:6005811
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Property Type:ResidentialIncome
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Property Subtype:Quadruplex
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Property Subtype Additional:Quadruplex
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Lot Size Acres:1.6345
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Lot Size Area:1.6345
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Lot Size Units:Acres
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Lot Size Source:Assessor
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Waterfront:false
Listing Agent
- Contact info:
- Agent phone:
- (216) 870-8687
- Office phone:
- (440) 526-9400
Taxes
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Tax Year:2023
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Tax Legal Description:TR 6 LOT 1 SUB 5 G N SMITH .950A
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Tax Annual Amount:$3,519
Beds
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Bedrooms Total:5
Baths
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Total Baths:4
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Full Baths:4
The Listing
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Listing Terms:Cash,Conventional,Exchange1031
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Home Warranty:false
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Special Listing Conditions:Standard
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Virtual Tour URL Unbranded 3:https://www.propertypanorama.com/399-N-Thomas-Road-Tallmadge-OH-44278/unbranded
Heating & Cooling
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Heating:ForcedAir,Gas
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Heating:true
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Cooling:WindowUnits
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Cooling:true
Utilities
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Sewer:PublicSewer
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Water Source:Public
Schools
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Elementary School District:Tallmadge CSD - 7715
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Middle School District:Tallmadge CSD - 7715
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High School District:Tallmadge CSD - 7715
The Community
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Pool Private:false
Parking
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Garage:false
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Attached Garage:false
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Carport:false
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Parking Features:Driveway,OnSite,Paved
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/20/25
Jan 20, 2025
|
Relisted | MLS_NOW | $203,500 | |
|
1/8/25
Jan 8, 2025
|
Pending | MLS_NOW | $203,500 | |
|
11/19/24
Nov 19, 2024
|
Listed / Active | MLS_NOW | $203,500 |
