Duplex with Spacious
For Sale
$350,000
2110 Bunts Road, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,244 SF
Lot Size0.13 Acres
Price / SF$155.97
Days on Market31
Property Features for 2110 Bunts Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Laundry Room, Basement, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Garage
Window features
Screens, Blinds
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
N C Cotapishs Bunts Road & Ma
Lot features
Corner Lot
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Off Athens Ave
Standard status
Active
APN
314-25-136
Size
2,244 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
19 BUNTSMAD 0029 ALL
Tax Annual Amount
5920
Legal Description
19 BUNTSMAD 0029 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1923
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt
Listing Agency:
Ohio Broker Direct
(614) 989-7215
Listed By:
Joan Elflein · License #386319
(614) 989-7215
Added: Jul 31
Changed: Aug 20
Last Checked: Aug 30 at 7:06AM
MLS# 5232541
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 2,244-square-foot duplex, built in 1923, includes two residential units with front porches, built-in cabinetry, newer kitchen flooring, vinyl windows, and forced-air heating. The upper apartment is vacant, while the lower unit is occupied. A detached garage provides on-site parking, and the property sits on a 0.1332-acre corner lot. Appliances include a range, refrigerator, washer, and dryer.
Located at 2110 Bunts Road in Lakewood, Ohio, the property has public water and public sewer service. The asphalt roof and electrical boxes have been updated, and the roof and gutters were replaced in March of 2026. Aluminum siding and newer garage siding complete the exterior improvements. Its Lakewood setting provides access to downtown Cleveland, Lake Erie, and nearby shops and restaurants.
Located at 2110 Bunts Road in Lakewood, Ohio, the property has public water and public sewer service. The asphalt roof and electrical boxes have been updated, and the roof and gutters were replaced in March of 2026. Aluminum siding and newer garage siding complete the exterior improvements. Its Lakewood setting provides access to downtown Cleveland, Lake Erie, and nearby shops and restaurants.
Key Highlights
- 2,244‑square‑foot duplex on a 0.1332‑acre corner lot
- Upper unit is vacant; lower unit is occupied
- Roof and gutters replaced in March of 2026
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
$23,793
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
6.80%
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%
$475,860
$475.9K
Cap Rate 7%
$339,900
$339.9K
Cap Rate 9%
$264,367
$264.4K
Market Conditions
NOI Build-Up for 2,244 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
$36.4K $16.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$34.0K $15.15/SF
− OpEx
−$10.2K −$4.54/SF
NOI
$23.8K $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%
$475,860
Cap Rate 7%
$339,900
Cap Rate 9%
$264,367
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.6K
NOI $23,793 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$316.9K
$277.3K – $369.7K
NOI $22,183 @ 7.0% cap · market cap 6.34%
Theoretical Best
Warehouse
$1.80M
$1.57M – $2.10M
NOI $125,859 @ 7.0% cap · market cap 35.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 44107, OH
51,109
Population
29,101
Households
1.8
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
9,465
Density / Sq Mi
$65,778
Median Household Income
$49,285
Median Earnings
$1,011
Median Rent
$241,400
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 - Two-unit residential property with one vacant apartment, updated systems, and a detached garage on a corner lot.
Where is this duplex located?
The property is located at 2110 Bunts Road Lakewood, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,244‑square‑foot duplex on a 0.1332‑acre corner lot; Upper unit is vacant; lower unit is occupied; Roof and gutters replaced in March of 2026
