Updated Duplex with Detached
For Sale
$379,000
Pending
1364 W 58th Street, Cleveland, OH 44102
ResidentialIncome, Cleveland, OH
Property Size2,062 SF
Lot Size0.07 Acres
Days on Market50
Property Features for 1364 W 58th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Laundry Room, Bedroom 2, Bedroom 4, Basement, Bedroom 6
Parking features
On Street, Garage
Interior features
CeilingFans
Appliances
Dryer, Dishwasher, Range, Refrigerator, Washer
Subdivision
Perkins
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
North of Detroit Ave south of Tillman Ave
Standard status
Pending
APN
002-12-040
Size
2,062 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6087
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
in-unit washer and dryer
Building Details
Year built
1900
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Greater Cleveland Northeast · Keller Williams Realty
(440) 255-5500
Listed By:
Anthony Alimo · License #2022001403
(440) 850-1044
Added: Jul 22
Changed: Sep 2
Last Checked: Sep 9 at 4:06AM
MLS# 5229504
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 2,062-square-foot duplex contains two occupied units and was built in 1900 on a 0.074-acre lot. Recent work includes air-conditioning units installed in 2023, hot water tanks replaced in 2024, remodeled kitchens with stainless steel appliances, and interior painting completed in 2025. Each unit has a washer and dryer, while the lower apartment also includes an updated bathroom.
A detached two-car garage provides tenant storage, and the property includes a large unfinished attic. Public water and sewer serve the building, with forced-air natural-gas heat and central air conditioning. The address is near Cleveland’s Detroit Shoreway and Gordon Square areas, with cafes, restaurants, a lakefront bike trail, and downtown Cleveland nearby.
A detached two-car garage provides tenant storage, and the property includes a large unfinished attic. Public water and sewer serve the building, with forced-air natural-gas heat and central air conditioning. The address is near Cleveland’s Detroit Shoreway and Gordon Square areas, with cafes, restaurants, a lakefront bike trail, and downtown Cleveland nearby.
Key Highlights
- 2,062 SF duplex with two occupied units
- 0.074‑acre lot; built in 1900
- Two‑car detached garage offers tenant storage
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
$24,647
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
6.50%
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%
$492,940
$492.9K
Cap Rate 7%
$352,100
$352.1K
Cap Rate 9%
$273,856
$273.9K
Market Conditions
NOI Build-Up for 2,062 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
$36.9K $17.88/SF
− Vacancy
−$1.7K −$0.80/SF
EGI
$35.2K $17.08/SF
− OpEx
−$10.6K −$5.12/SF
NOI
$24.6K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
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%
$492,940
Cap Rate 7%
$352,100
Cap Rate 9%
$273,856
Alternative Uses
Best Use
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,647 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$326.6K
$285.8K – $381.1K
NOI $22,863 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$503.2K
$440.3K – $587.1K
NOI $35,224 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with renovated kitchens, in-unit laundry, and recent mechanical updates.
Where is this duplex located?
The property is located at 1364 W 58th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 2,062 SF duplex with two occupied units; 0.074‑acre lot; built in 1900; Two‑car detached garage offers tenant storage
