UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,785 sqft
Price per Sqft $92
Subdivision City/Youngstown
MLS Listing ID 5159890
Bedrooms 4
Full Baths 2
Construction Status Updated/Remodeled
HOA Y/N No
Abv Grd Liv Area 1,785
Year Built 1901
Annual Tax Amount $915
Tax Year 2024
Lot Size 5,880 Sqft
Acres 0.135
Property Sub-Type Duplex
Property Description
The property utilizes a highly profitable rent-by-the-room model, with 57% of the capacity already leased at $575+ per month.? This allows a savvy investor to step into a performing asset while simultaneously capturing the remaining 43% vacancy to nearly double the Net Operating Income.?
Designed for tenant retention and low-maintenance ownership, each floor features its own fully equipped kitchen and full bathroom.? The building offers shared basement laundry, ample off-street parking, and abundant storage space across the basement, garage, and attic.?
Investors will benefit from exceptionally lean financials.? The owner's monthly expenses average just $583, covering all utilities, high-speed internet, and lawn care, while maintaining a built-in $150 monthly reserve for repairs.? Furthermore, major capital expenditures are already managed: the roof is less than five years old and the furnaces are under ten years old, ensuring minimal deferred maintenance for years to come.?
Located in a high-demand rental pocket, 816 Michigan offers unparalleled accessibility.? With the YSU Penguin Shuttle stopping directly in front of the building and Wick Park just a short stroll away, this property is perfectly positioned to remain a cornerstone of a profitable portfolio.?
Location
State OH
County Mahoning
Rooms
Basement Common Basement
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Shingle
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Construction Status Updated/Remodeled
Schools
School District Youngstown Csd - 5014
Others
Tax ID 53-005-0-278.00-0
Special Listing Condition Standard
Nearby Locations
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