Updated Two-Unit
For Sale
$494,900
21030-21040 Detroit Road, Rocky River, OH 44116
ResidentialIncome, Rocky River, OH
Property Size3,254 SF
Lot Size0.19 Acres
Price / SF$152.09
Days on Market17
Property Features for 21030-21040 Detroit Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 3, Laundry Room
Parking features
Garage, Open
Interior features
EntranceFoyer, GraniteCounters
Appliances
Dryer, Dishwasher, Disposal, Range, Refrigerator, Washer
Lot features
Rolling Slope, Wooded
Elementary school district
Rocky River CSD - 1826
Middle school district
Rocky River CSD - 1826
High school district
Rocky River CSD - 1826
Directions
Near the corner of Detroit and Wagar Rd. Driveway is on Cliffside Commons behind the house.
Standard status
Active
APN
302-15-011
Size
3,254 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8074
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1958
Floors in Building
2
Building materials
Brick, VinylSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(440) 331-2870
Listed By:
Anthony R Latina · License #2016003431
(440) 465-5611
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 30 at 5:06PM
MLS# 5235622
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 duplex includes separate living areas, in-unit laundry, basement space, and a two-car garage supplemented by 4 additional parking spaces. The front residence is single-story with 2 bedrooms and 1 full bath, refinished hardwood flooring, updated kitchen appliances, and a central air conditioner replaced in 2020. The rear residence spans 2 stories and offers 3 bedrooms, 1.5 baths, extensive closet storage, and a partially finished basement. Its 2019 remodeling included granite countertops, new kitchen flooring and appliances, updated lighting, fresh paint, and bathroom work.
Capital improvements include a 2017 roof, 2019 exterior siding and brick painting, a 2021 electrical service box, and 2023 replacements of the rear unit’s furnace, air conditioner, and hot water heater. New outdoor brick stairs were completed in 2026. Located at 21030-21040 Detroit Road in Rocky River, the property has public water and public sewer, forced-air natural-gas heating, central air, and brick and vinyl-siding construction.
Capital improvements include a 2017 roof, 2019 exterior siding and brick painting, a 2021 electrical service box, and 2023 replacements of the rear unit’s furnace, air conditioner, and hot water heater. New outdoor brick stairs were completed in 2026. Located at 21030-21040 Detroit Road in Rocky River, the property has public water and public sewer, forced-air natural-gas heating, central air, and brick and vinyl-siding construction.
Key Highlights
- Two‑unit duplex at 21030‑21040 Detroit Road, Rocky River, OH 44116
- Front unit: 2 bedrooms, 1 full bath, single‑story layout, and refinished hardwood floors
- Rear unit: 3 bedrooms, 1.5 baths, 2‑story layout, and partially finished basement
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
$34,502
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
6.97%
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%
$690,040
$690.0K
Cap Rate 7%
$492,886
$492.9K
Cap Rate 9%
$383,356
$383.4K
Market Conditions
NOI Build-Up for 3,254 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
$52.7K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$49.3K $15.15/SF
− OpEx
−$14.8K −$4.54/SF
NOI
$34.5K $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%
$690,040
Cap Rate 7%
$492,886
Cap Rate 9%
$383,356
Alternative Uses
Best Use
Multifamily LT 5
$492.9K
$431.3K – $575.0K
NOI $34,502 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$459.5K
$402.1K – $536.1K
NOI $32,167 @ 7.0% cap · market cap 6.50%
Theoretical Best
Warehouse
$2.61M
$2.28M – $3.04M
NOI $182,507 @ 7.0% cap · market cap 36.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 44116, OH
21,821
Population
10,484
Households
2.1
Avg Household Size
45
Median Age
64%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
4,453
Density / Sq Mi
$93,532
Median Household Income
$60,738
Median Earnings
$1,146
Median Rent
$327,600
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 - Brick-and-vinyl duplex with separate living spaces, in-unit laundry, basement storage, and a garage with additional parking.
Where is this duplex located?
The property is located at 21030-21040 Detroit Road Rocky River, OH.
What is the asking price?
The asking price for this property is $494,900.
What are key features of this property?
This property features: Two‑unit duplex at 21030‑21040 Detroit Road, Rocky River, OH 44116; Front unit: 2 bedrooms, 1 full bath, single‑story layout, and refinished hardwood floors; Rear unit: 3 bedrooms, 1.5 baths, 2‑story layout, and partially finished basement
