Large Two-Unit
For Sale
$379,900
2580-2582 Colchester Road, Cleveland Heights, OH 44106
ResidentialIncome, Cleveland Heights, OH
Property Size3,459 SF
Lot Size0.19 Acres
Price / SF$109.83
Days on Market174
Property Features for 2580-2582 Colchester Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 4, Bedroom 6, Laundry Room, Basement, Bedroom 7, Bathroom 4, Bedroom 9, Bedroom 3, Bedroom 10, Bedroom 5, Bedroom 2, Bedroom 1
Parking features
Garage
Appliances
Dryer, Dishwasher, Range, Refrigerator, Washer
Subdivision
Fairmount Coventry
Elementary school district
Cleveland Hts-Univer - 1810
Middle school district
Cleveland Hts-Univer - 1810
High school district
Cleveland Hts-Univer - 1810
Directions
Woodmere Dr to Colchester Rd
Standard status
Active
APN
685-32-003
Size
3,459 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
414 & 422 FAIRCOV 0013 ALL
Tax Annual Amount
9408
Legal Description
414 & 422 FAIRCOV 0013 ALL
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Hot Water(Heating), Steam
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Building materials
Cedar
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(440) 331-2870
Listed By:
Anthony R Latina · License #2016003431
(440) 465-5611
Added: Mar 10
Changed: Aug 26
Last Checked: Aug 30 at 10:06PM
MLS# 5191555
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 3,459-square-foot duplex, built in 1920, contains two residences with a combined 10 bedrooms and 4 full bathrooms. Each unit is configured with 5 bedrooms, 2 bathrooms, a kitchen, dining room, living area, and basement space with laundry facilities. Hardwood flooring appears in a portion of the bedrooms, while appliances include ranges, refrigerators, dishwashers, washers, and dryers. Garage parking serves the property, which also features cedar construction, asphalt and fiberglass roofing, hot water and steam heating, public water, and public sewer.
The property is located on Colchester Road in Cleveland Heights, adjacent to two local schools and a school playground. Its separate unit layouts and extensive bedroom count provide a clearly defined residential income configuration, with basement and garage areas adding functional storage and utility space.
The property is located on Colchester Road in Cleveland Heights, adjacent to two local schools and a school playground. Its separate unit layouts and extensive bedroom count provide a clearly defined residential income configuration, with basement and garage areas adding functional storage and utility space.
Key Highlights
- Two‑unit duplex with 10 bedrooms and 4 full bathrooms
- Each residence includes 5 bedrooms and 2 full bathrooms
- 3,459 square feet on a 0.1928‑acre lot
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
$34,193
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
9.00%
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%
$683,860
$683.9K
Cap Rate 7%
$488,471
$488.5K
Cap Rate 9%
$379,922
$379.9K
Market Conditions
NOI Build-Up for 3,459 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
$66.0K $19.08/SF
− Vacancy
−$3.8K −$1.11/SF
EGI
$62.2K $17.97/SF
− OpEx
−$28.0K −$8.09/SF
NOI
$34.2K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /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%
$683,860
Cap Rate 7%
$488,471
Cap Rate 9%
$379,922
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.3K
NOI $36,675 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$488.5K
$427.4K – $569.9K
NOI $34,193 @ 7.0% cap · market cap 9.00%
Theoretical Best
Warehouse
$2.77M
$2.43M – $3.23M
NOI $194,005 @ 7.0% cap · market cap 51.07%
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
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 44106, OH
26,608
Population
13,287
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
6,188
Density / Sq Mi
$42,869
Median Household Income
$27,056
Median Earnings
$1,024
Median Rent
$241,600
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 separate residences offer spacious layouts, private basements, garage parking, and convenient access to nearby schools.
Where is this duplex located?
The property is located at 2580-2582 Colchester Road Cleveland Heights, OH.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit duplex with 10 bedrooms and 4 full bathrooms; Each residence includes 5 bedrooms and 2 full bathrooms; 3,459 square feet on a 0.1928‑acre lot
