399 N Thomas Rd Tallmadge, OH 44278
Estimated payment $1,425/month
Highlights
- 0.96 Acre Lot
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
About This Home
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 Agent
HomeSmart Real Estate Momentum LLC Brokerage Email: austinassad1@gmail.com, 330-541-6918 License #2020005904 Listed on: 07/09/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,519
Year Built
- Built in 1948
Lot Details
- 0.96 Acre Lot
- 6005807
Home Design
- Brick Exterior Construction
- Fiberglass Roof
- Asphalt Roof
- Aluminum Siding
Interior Spaces
- 1,576 Sq Ft Home
- 3-Story Property
- Partially Finished Basement
Kitchen
- Range<<rangeHoodToken>>
- <<microwave>>
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Full Bathrooms
Parking
- Driveway
- Additional Parking
- Parking Lot
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Heating System Uses Gas
Listing and Financial Details
- Assessor Parcel Number 6005811
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,368 | $65,853 | $15,491 | $50,362 |
| 2024 | $3,368 | $65,853 | $15,491 | $50,362 |
| 2023 | $3,098 | $66,042 | $15,491 | $50,551 |
| 2022 | $3,098 | $49,658 | $11,648 | $38,010 |
| 2021 | $3,112 | $49,658 | $11,648 | $38,010 |
| 2020 | $2,512 | $49,660 | $11,650 | $38,010 |
| 2019 | $2,516 | $36,110 | $11,070 | $25,040 |
| 2018 | $2,220 | $36,110 | $11,070 | $25,040 |
| 2017 | $2,520 | $36,110 | $11,070 | $25,040 |
| 2016 | $2,520 | $36,110 | $11,070 | $25,040 |
| 2015 | $2,520 | $36,110 | $11,070 | $25,040 |
| 2014 | $2,505 | $36,110 | $11,070 | $25,040 |
| 2013 | $2,465 | $36,110 | $11,070 | $25,040 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/09/2025 07/09/25 | For Sale | $205,000 | +26.5% | $130 / Sq Ft |
| 11/16/2023 11/16/23 | Sold | $162,000 | -4.6% | $103 / Sq Ft |
| 09/07/2023 09/07/23 | Pending | -- | -- | -- |
| 09/05/2023 09/05/23 | Price Changed | $169,900 | -10.5% | $108 / Sq Ft |
| 08/13/2023 08/13/23 | For Sale | $189,900 | 0.0% | $120 / Sq Ft |
| 07/05/2023 07/05/23 | Pending | -- | -- | -- |
| 07/04/2023 07/04/23 | Price Changed | $189,900 | 0.0% | $120 / Sq Ft |
| 07/04/2023 07/04/23 | For Sale | $189,900 | -5.0% | $120 / Sq Ft |
| 07/01/2023 07/01/23 | Pending | -- | -- | -- |
| 06/25/2023 06/25/23 | For Sale | $199,900 | -- | $127 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $162,000 | Patriot Title | |
| Deed | $55,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $295,920 | New Conventional | |
| Previous Owner | $78,800 | Fannie Mae Freddie Mac | |
| Previous Owner | $38,500 | New Conventional |
Source: MLS Now
MLS Number: 5134444
APN: 60-05811
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