Maintained Two-Unit
New
For Sale
$168,000
11320 Florian Avenue, Cleveland, OH 44111
ResidentialIncome, Cleveland, OH
Property Size1,674 SF
Lot Size0.12 Acres
Price / SF$100.36
Days on Market5
Property Features for 11320 Florian Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Laundry Room, Bedroom 4, Bedroom 2, Basement
Parking features
Garage
Exterior features
PrivateYard
Fencing
Fenced
Appliances
Dryer, Dishwasher, Range, Refrigerator
Subdivision
Wilbur Dunham Cos Dunham Heights
Lot features
Back Yard, Landscaped
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
South of Lorain, East of W 117th
Standard status
Active
APN
018-06-025
Size
1,674 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
6 DUNHTS 0096 ALL
Tax Annual Amount
2808
Legal Description
6 DUNHTS 0096 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
full basement
central air
partially finished attic
landscaped yard
fenced yard
patio
Building Details
Year built
1922
Floors in Building
2
Building materials
VinylSiding
Roof type
Asbestos Shingle
Listing Agency:
Prestige Realty West
(440) 871-6300
Listed By:
Renee Stybel · License #2003003804
(216) 702-8915
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 7 at 9:06AM
MLS# 5242340
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,674 square feet, with each residence arranged as a two-bedroom, one-bath unit featuring a kitchen, living room, and dining area. The building dates to 1922 and includes a full basement, partially finished attic, separate utilities, forced-air heat, and central air in both units. Appliances include ranges, refrigerators, dishwashers, and dryers.
Set on a 0.1194-acre parcel, the property includes a fenced backyard, patio, private yard, and detached two-car garage. Public water and public sewer serve the property. Both units are occupied under month-to-month arrangements, and the existing tenants have expressed interest in remaining. Vinyl siding and an asbestos shingle roof complete the exterior.
Set on a 0.1194-acre parcel, the property includes a fenced backyard, patio, private yard, and detached two-car garage. Public water and public sewer serve the property. Both units are occupied under month-to-month arrangements, and the existing tenants have expressed interest in remaining. Vinyl siding and an asbestos shingle roof complete the exterior.
Key Highlights
- Two‑unit duplex with 1,674 square feet of property size
- Each unit includes 2 bedrooms, 1 bath, kitchen, living room, and dining room
- Both units feature separate utilities and central air
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,700
$296.7K
Cap Rate 7%
$211,929
$211.9K
Cap Rate 9%
$164,833
$164.8K
Market Conditions
NOI Build-Up for 1,674 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.7K $17.16/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$27.0K $16.11/SF
− OpEx
−$12.1K −$7.25/SF
NOI
$14.8K $8.86/SF
Area
ZIP 44111
Vacancy
6.10%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,700
Cap Rate 7%
$211,929
Cap Rate 9%
$164,833
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,670 @ 7.0% cap · market cap 11.11%
Second Best
Apartment 5plus
$211.9K
$185.4K – $247.3K
NOI $14,835 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$315.2K
$275.8K – $367.7K
NOI $22,064 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately serviced residences offer matching layouts, central air, basement storage, and a fenced outdoor area.
Where is this duplex located?
The property is located at 11320 Florian Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $168,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,674 square feet of property size; Each unit includes 2 bedrooms, 1 bath, kitchen, living room, and dining room; Both units feature separate utilities and central air
