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$199,900

For Sale - Active
608 E Buchtel Ave, Akron, OH 44304
5 Beds
4 Baths
0 Square Feet
0.00 Acres Lot
Built in 1893
For Sale - Active
5 Units
Checked: 17 hours ago
Updated: Jun 07, 2025 at 03:01AM

Investment Summary


Monthly Cash Flow
-$270
Cap Rate
4.1%
Cash-on-Cash Return
-7.0%
Debt Coverage Ratio
0.71
Internal Rate of Return (5 years)
-2.8%

Property Description


0.00 Acres Lot
Built in 1893
For Sale - Active
5 Units

This is a great opportunity to own a wonderful University of Akron triplex! This newly renovated three unit building features one 3 bedroom unit and 2 one bedroom units. Updates include newer roof, gutters, siding, windows, electric and plumbing. Located just two blocks from the University of Akron campus and walkable to Summa Health System, this is a fantastic opportunity to rent to students or traveling hospital staff. Leased through July 31st, 2026!

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Location


Property Details


Parking

  • Description: Paved
  • Details: Paved
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Asphalt, Fiberglass

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Apartments (general)

Lot Information

  • Parcel ID: 6835835
  • Lot Size: 0 sqft

Property Information

  • Property Type: Triplex
  • Year Built: 1893

Tax Information

  • Annual Tax: $3,483

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Wall/Window Unit(s)

Location

  • County: Summit

Listing Details


Listed by:
Justin T Aikens
Keller Williams Chervenic Rlty
(330) 388-2637

Source:
MLS Now
MLS#: 5120499
MLS Now

Investment Summary


Monthly Cash Flow
-$270
Cap Rate
4.1%
Cash-on-Cash Return
-7.0%
Debt Coverage Ratio
0.71
Internal Rate of Return (5 years)
-2.8%

Purchase Details

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Purchase price:
$199,900
Amount financed:
-$159,920
Down payment:
$39,980
Closing costs:
$5,997
Rehab costs:
$0
Initial cash invested:
$45,977
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$159,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$946
Property tax:
$290
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,334

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (21%)
21%-$290-$3,484
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (46%)
46%-$640-$7,684

Cash Flow


Monthly Yearly
Net operating income:
$676 $8,112
Mortgage payments:
-$946 -$11,352
Cash flow:
$270 $3,240