$205,000

399 N Thomas Road, Tallmadge, OH 44278

  • 5 beds |
  • 4 baths |
  • 1,576 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1948
  • Property Lot Size Icon0.96acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $130/sqft
  • Property List Date Icon Listed 3 months ago

Property Description

4-unit investment property, gross projected rent over $40,000 in a peaceful, highly sought-after area of Tallmadge. The two home property is situated on 1.6 acres; featuring a 1 bed / 1 bath house and a triplex. At full occupancy, this property is an amazing ash-flowing investment with room to grow. The rental breakdown includes a 1 bed, 1 bath house rented for $625/month; a 2 bed, 1 bath unit in the triplex potential rent at $1200/month; a studio renting for $650/month; and a 1 bed, 1 bath unit that is rented $965. All tenants are on month-to-month leases, allowing flexibility for adjustments or rent increases. With the final unit leased and rents brought up to market value, there’s significant upside potential. The owner self-manages and bills back water, gas, and electric for the house, while covering all utilities for the triplex for tenant convenience. The property has been well maintained, with recent updates including a new water heater installed in 2024, two brand new roofs, and a five-year-old furnace. This is a rare opportunity in a quiet, desirable location with strong projected income and long-term investment potential.

Listing Status:
Active
Listing Office:
HomeSmart Real Estate Momentum LLC : 440-578-8058
Listing Agent:
Austin Assad : 330-541-6918
MLS ID:
5134444
  • Appliances: MicrowaveRange
  • Laundry: Gas Dryer Hookup
  • Basement: Partially Finished
  • A/C: Wall/Window Unit(s)
  • Heating: Forced AirGas
  • Parking: Additional ParkingDrivewayParking Lot
  • Roofing: AsphaltFiberglass
  • General: Aluminum SidingBrickThree Or More
  • Originating MLS: NOWDD_NORM
  • School District: Tallmadge CSD - 7715
  • County: Summit
  • Zoning: TR 6 LOT 1 SUB 5 G N SMITH .950A6005811
  • Water: Public
  • Sewer: Public Sewer
  • Source: NOWDD_NORM

This listing courtesy of Austin Assad, HomeSmart Real Estate Momentum LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

T

Tallmadge Elementary School

480 East Ave, Tallmadge, OH, 44278

Grades KG-5

2.26 miles away

T

Tallmadge Middle School

484 East Ave, Tallmadge, OH, 44278

Grades 6-8

2.32 miles away

T

Tallmadge High School

140 N Munroe Rd, Tallmadge, OH, 44278

Grades 9-12

2.63 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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