Furnished Updated
For Sale
$199,999
Pending
3579 Bosworth Road, Cleveland, OH 44111
ResidentialIncome, Cleveland, OH
Property Size2,042 SF
Lot Size0.15 Acres
Days on Market30
Property Features for 3579 Bosworth Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Garage
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator
Subdivision
Continental Realty Cos Lorain
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
lorain to bosworth
Standard status
Pending
APN
018-16-133
Size
2,042 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
6 LORHIGHL 1802 ALL
Tax Annual Amount
2800
Legal Description
6 LORHIGHL 1802 ALL
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Building materials
Block
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Chervenic Rlty · Keller Williams Realty
(330) 650-0050
Listed By:
Ricardo A Simonelli · License #2018004895
(440) 552-6959
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 30 at 5:06PM
MLS# 5232955
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 Cleveland duplex contains two residential units, each measuring approximately 1,020 square feet with two bedrooms and one full bathroom. Both units have been updated and are being offered fully furnished. The property includes a basement, garage parking, block construction, asphalt and fiberglass roofing, and window-unit cooling. Appliances include a range, refrigerator, dishwasher, microwave, and dryer.
Built in 1924 on a 0.1469-acre lot, the property is served by public water and public sewer. Heating is provided by natural gas and forced air. Its current use as a short-term rental can be continued, while the layout also supports long-term rental occupancy or living in one unit while leasing the other. The property is located near shopping, dining, major highways, and Downtown Cleveland.
Built in 1924 on a 0.1469-acre lot, the property is served by public water and public sewer. Heating is provided by natural gas and forced air. Its current use as a short-term rental can be continued, while the layout also supports long-term rental occupancy or living in one unit while leasing the other. The property is located near shopping, dining, major highways, and Downtown Cleveland.
Key Highlights
- Two units, each approximately 1,020 square feet with 2 bedrooms and 1 full bathroom
- Fully furnished duplex with updated interiors
- Current short‑term rental operation with prior long‑term rental use
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
$18,097
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
9.05%
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%
$361,940
$361.9K
Cap Rate 7%
$258,529
$258.5K
Cap Rate 9%
$201,078
$201.1K
Market Conditions
NOI Build-Up for 2,042 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
$35.0K $17.16/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$32.9K $16.11/SF
− OpEx
−$14.8K −$7.25/SF
NOI
$18.1K $8.86/SF
Area
ZIP 44111
Vacancy
6.10%
Lease Rate
$17.16 /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%
$361,940
Cap Rate 7%
$258,529
Cap Rate 9%
$201,078
Alternative Uses
Best Use
Multifamily LT 5
$325.3K
$284.7K – $379.6K
NOI $22,774 @ 7.0% cap · market cap 11.39%
Second Best
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,097 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$384.5K
$336.4K – $448.6K
NOI $26,914 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
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 - Two residential units support short-term rental operation, long-term leasing, or owner occupancy.
Where is this duplex located?
The property is located at 3579 Bosworth Road Cleveland, OH.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Two units, each approximately 1,020 square feet with 2 bedrooms and 1 full bathroom; Fully furnished duplex with updated interiors; Current short‑term rental operation with prior long‑term rental use
