Duplex with Unfinished Expansion
For Sale
$275,000
3544 Lynnfield Road, Shaker Heights, OH 44122
ResidentialIncome, Shaker Heights, OH
Property Size2,520 SF
Lot Size0.11 Acres
Price / SF$109.13
Days on Market30
Property Features for 3544 Lynnfield Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Laundry Room, Bedroom 4, Bathroom 1, Bedroom 3, Basement, Bathroom 2, Bedroom 2
Parking features
Garage
Subdivision
Van Sweringen Co 22
Elementary school district
Shaker Heights CSD - 1827
Middle school district
Shaker Heights CSD - 1827
High school district
Shaker Heights CSD - 1827
Directions
U.S 422 (Chagrin Blvd) to Lynnfield Rd.
Standard status
Active
APN
736-20-070
Size
2,520 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
54 VANS22 1609 ALL
Tax Annual Amount
6818
Legal Description
54 VANS22 1609 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Building materials
AluminumSiding, VinylSiding
Roof type
Asphalt, Shingle
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Shoshana Socher · License #2006000982
(216) 255-7377
Added: Aug 5
Changed: Sep 1
Last Checked: Sep 3 at 4:06PM
MLS# 5233360
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 1930 duplex contains 2,520 square feet on a 0.1136-acre lot. The two residences are each arranged with a kitchen, living room, dining room, two bedrooms, and one full bathroom. Additional unfinished space occupies the third floor and basement, providing substantial areas beyond the finished living quarters. A garage serves the property, which features aluminum and vinyl siding, asphalt shingle roofing, forced-air natural-gas heat, public water, and public sewer.
The property is located on Lynnfield Road in Shaker Heights, near the Van Aken District and Rapid transit. Larchmere, major hospital campuses, University Circle, Little Italy, and downtown Cleveland are also identified as nearby destinations.
The property is located on Lynnfield Road in Shaker Heights, near the Van Aken District and Rapid transit. Larchmere, major hospital campuses, University Circle, Little Italy, and downtown Cleveland are also identified as nearby destinations.
Key Highlights
- Two‑unit duplex with 2,520 SF of property size
- Each unit includes 2 bedrooms and 1 full bathroom
- Unfinished third floor and full 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
$24,911
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
9.06%
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%
$498,220
$498.2K
Cap Rate 7%
$355,871
$355.9K
Cap Rate 9%
$276,789
$276.8K
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
$48.1K $19.08/SF
− Vacancy
−$2.8K −$1.11/SF
EGI
$45.3K $17.97/SF
− OpEx
−$20.4K −$8.09/SF
NOI
$24.9K $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%
$498,220
Cap Rate 7%
$355,871
Cap Rate 9%
$276,789
Alternative Uses
Best Use
Multifamily LT 5
$381.7K
$334.0K – $445.3K
NOI $26,719 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$355.9K
$311.4K – $415.2K
NOI $24,911 @ 7.0% cap · market cap 9.06%
Theoretical Best
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,339 @ 7.0% cap · market cap 51.40%
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
603
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 - Each residence offers two bedrooms, a full bath, and distinct kitchen, living, and dining areas.
Where is this duplex located?
The property is located at 3544 Lynnfield Road Shaker Heights, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,520 SF of property size; Each unit includes 2 bedrooms and 1 full bathroom; Unfinished third floor and full basement
