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    The Largest CRE Database in the US with Over 1 Million Listings

    3271 Desota Ave Cleveland Heights, OH 44118

    Sponsored
    For Sale
    $289,000

    MULTI_FAMILY - Cleveland Heights, OH

    Property size:
    2,896 SF
    Lot size:
    0.14 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 5 at 3:06 pm

    Property Features for 3271 Desota Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 2, Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
    Bedrooms
    5
    Bathrooms
    3
    APN
    684-31-048
    Parking features
    Garage
    Interior features
    BreakfastBar, CeilingFans, GraniteCounters, RecessedLighting
    Appliances
    Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
    Size
    2,896 SF
    Lot size
    0.14 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1925
    Floors in Building
    3
    Building materials
    WoodSiding
    Roof type
    Fiberglass, Asphalt

    We can help!

    Listing Contact
    Nicole Raichart

    Berkshire Hathaway HomeServices Professional Realty (800) 840-8025

    Listing agent Nicole Raichart (503) 806-6517 License #2021008099

    Listing date Feb 5, 2026

    MLS# 5184613 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Cleveland Heights Multifamily Investment Opportunity

    This multifamily property in Cleveland Heights, Ohio, presents an investor highlight with a total monthly rental income of $3,400, amounting to $40,800 annually, based on a purchase price of $289,000. This exceeds the 1% rule at 1.18%. The current rents include $1,700 per month for a furnished first-floor unit, $1,100 per month for a second-floor long-term tenant (with an upcoming increase to $1125), and $600 per month for a third-floor one-bedroom. The annual property taxes are $8,036, which is approximately $670 per month. Major capital improvements have been made, reducing near-term expenses, including two new furnaces in 2024, a new refrigerator in 2024, and a new washer and dryer in 2025. This well-maintained asset has documented annual servicing, offering immediate cash flow and minimal deferred maintenance. The property size is 2896 square feet, situated on a lot size of 0.1377 acres. A property manager is in place.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.562834
    Latitude
    41.510881

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    FAQs

    What type of property is this?
    Triplex - Profitable triplex with strong rental income in Cleveland Heights.
    Where is this triplex located?
    The property is located at 3271 Desota Ave Cleveland Heights, OH.
    What is the asking price?
    The asking price for this property is $289,000.
    What are key features of this property?
    This property features: - High Rental Income: Generates $3,400/month ($40,800 annually), exceeding the 1% rule with a 1.18% return.; - Immediate Cash Flow: Well-maintained property with existing tenants and documented annual servicing.; - Recent Capital Improvements: Features new furnaces (2024), refrigerator (2024), and washer/dryer (2025).
    (503) 806-6517
    Request Owner's contact information
    3271 Desota Ave Cleveland Heights, OH 44118
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    Cleveland Heights, OH 44118
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3271 Desota Ave Cleveland Heights, OH 44118
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    We can help!
    Listing Contact
    Nicole Raichart
    Real Estate License ID: 2021008099
    (503) 806-6517
    Learn more
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