$2,417
closing credit¹
399 N Thomas Rd Tallmadge, OH 44278
Property details
About 399 N Thomas Rd
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!
Highlights
Summary
- MLS Number: 5068624
- MLS Name: NOWDD
- Office Name: Russell Real Estate Services
- Office Phone: (216) 870-8687
- Office Email: tal@premierclevelandinvesting.com
- Listing Agent: Tal Tamir
Copyright 2025 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/3/2025, 11:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$203,500
399 N Thomas Rd
$2,417
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Nov 17, 2023 | Home Sold | $162,000 |
| Dec 18, 1997 | Home Sold | $55,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $66,040 | $3,368 |
| 2022 | $49,660 | $3,098 |
| 2021 | $49,660 | $3,112 |
| 2020 | $49,660 | $2,511 |
| 2019 | $36,110 | $2,511 |
| 2018 | $36,110 | $2,219 |
| 2017 | $36,110 | $2,230 |
History based on county public records data.
Nearby schools
6
Preston Elementary School
Public District KG-5
1.0 mi
•800 Tallmadge Rd
6
Elizabeth Price Elementary School
Public District KG-5
1.6 mi
•2610 Delmore St
4
Harris-Jackson Community Learning Center
Public District KG-5
1.8 mi
•1085 Clifton Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $51,734. The most common annual income of people living in Tallmadge, OH is between $35k-100k. Typical family type is single, no kids. Typical level of education for residents in this area is post secondary degree.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
PGA/LPGA
Hiking/backpacking
Pro Wrestling
Where do the neighbors shop?
Stein Mart
Nordstrom Rack
Burlington
Where do the neighbors go to eat?
Bonefish Grill
Chipotle
Cicis Pizza
What do the neighbors drive?
Lincoln
Mazda
Pontiac
What do the neighbors listen to?
Classical
Rock
Urban Contemporary
This home is located at 399 N Thomas Rd in Tallmadge, OH and zip code 44278. This 1,588 square foot home, which was built in 1948, sits on a 1.63 acre lot. Features: 5 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since September 9, 2024 and is currently priced at $203,500.
In January 2025 more than 2 listings in Tallmadge, OH were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 4 were sold below. In January 2025 in Tallmadge, OH there were equal homes for sale than in December. Listings spent 47 days on the market in January 2025, and had a median list price of $265,000 during the same period.