Brick Tudor-Style
For Sale
$320,000
Pending
18428 Winslow Road, Shaker Heights, OH 44122
ResidentialIncome, Shaker Heights, OH
Property Size2,520 SF
Lot Size0.13 Acres
Days on Market67
Property Features for 18428 Winslow Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 2, Bedroom 7, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 3, Laundry Room, Bathroom 2, Bathroom 3, Bedroom 1
Subdivision
Vans
Elementary school district
Shaker Heights CSD - 1827
Middle school district
Shaker Heights CSD - 1827
High school district
Shaker Heights CSD - 1827
Directions
South off Chagrin Blvd onto Winslow Rd to property.
Standard status
Pending
APN
736-06-041
Size
2,520 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
43 VANS#23 0906 ALL
Tax Annual Amount
8975
Legal Description
43 VANS#23 0906 ALL
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Other (Heating)
Water source
Public
Building Details
Year built
1929
Floors in Building
3
Building materials
Brick, Cedar, Stucco
Roof type
Fiberglass, Asphalt
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Michael A Roberts · License #2016002011
(330) 607-8592
Added: Jun 26
Changed: Aug 20
Last Checked: Aug 31 at 9:06AM
MLS# 5221904
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 2,520-square-foot duplex at 18428 Winslow Road dates to 1929 and combines brick, cedar, and stucco construction with a Tudor-style design. The upper residence contains 5 bedrooms and 2 full bathrooms, while the lower residence provides 2 bedrooms and 1 full bathroom. Original woodwork and other period architectural details contribute to the property’s character. Public water and public sewer serve the building, with a basement, laundry room, and fiberglass and asphalt roofing also included.
The property is located in Shaker Heights’ Winslow Road Historic District, with access to the Van Aken District, rapid transit, parks, shopping, and restaurants described as minutes away. The site encompasses 0.1343 acres in Cuyahoga County.
The property is located in Shaker Heights’ Winslow Road Historic District, with access to the Van Aken District, rapid transit, parks, shopping, and restaurants described as minutes away. The site encompasses 0.1343 acres in Cuyahoga County.
Key Highlights
- 2,520‑square‑foot duplex built in 1929
- Upper unit includes 5 bedrooms and 2 full bathrooms
- Lower unit includes 2 bedrooms and 1 full bathroom
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
$26,719
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
8.35%
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%
$534,380
$534.4K
Cap Rate 7%
$381,700
$381.7K
Cap Rate 9%
$296,878
$296.9K
Market Conditions
NOI Build-Up for 2,520 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
$40.8K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.2K $15.15/SF
− OpEx
−$11.5K −$4.54/SF
NOI
$26.7K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$534,380
Cap Rate 7%
$381,700
Cap Rate 9%
$296,878
Alternative Uses
Best Use
Multifamily LT 5
$381.7K
$334.0K – $445.3K
NOI $26,719 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$355.9K
$311.4K – $415.2K
NOI $24,911 @ 7.0% cap · market cap 7.78%
Theoretical Best
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,339 @ 7.0% cap · market cap 44.17%
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
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 44122, OH
36,268
Population
17,795
Households
2
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,901
Density / Sq Mi
$97,469
Median Household Income
$58,334
Median Earnings
$1,509
Median Rent
$304,300
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 leased residences offer a combination of unit flexibility and established rental occupancy.
Where is this duplex located?
The property is located at 18428 Winslow Road Shaker Heights, OH.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2,520‑square‑foot duplex built in 1929; Upper unit includes 5 bedrooms and 2 full bathrooms; Lower unit includes 2 bedrooms and 1 full bathroom
