Tenant-Occupied Duplex with
For Sale
$159,900
Pending
3746 W 140th Street, Cleveland, OH 44111
ResidentialIncome, Cleveland, OH
Property Size1,455 SF
Lot Size0.13 Acres
Days on Market46
Property Features for 3746 W 140th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Driveway
Subdivision
Lorain Gardens
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
On W 140th St, between San Diego Avenue and And Courtland Avenue
Standard status
Pending
APN
022-02-045
Size
1,455 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
12 LORGAR 0022 ALL
Tax Annual Amount
2566
Legal Description
12 LORGAR 0022 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Building materials
Frame
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Haven Realty · RE/MAX International
(440) 519-3100
Listed By:
Michael Azzam · License #2014004734
(216) 446-7606
Added: Jul 30
Changed: Sep 12
Last Checked: Sep 13 at 2:06AM
MLS# 5232002
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 1,455-square-foot duplex contains two occupied apartments with practical residential layouts. The lower unit has two bedrooms and one full bathroom, while the upper apartment provides one bedroom and one full bathroom. Each unit includes a living room and kitchen, and the shared basement adds storage space. The property also features forced-air heating, younger furnaces and water heaters, updated ductwork, vinyl siding, and a mix of hardwood and luxury vinyl plank flooring.
Both apartments are currently leased, with the lower-unit lease extending through 02/28/2027 and the upper-unit lease continuing through 08/31/2026. Professional management is already in place and may remain. The property offers driveway parking, public water and sewer, and access to I-71 and I-90. Shopping, restaurants, schools, parks, and public transportation are located nearby in Cleveland.
Both apartments are currently leased, with the lower-unit lease extending through 02/28/2027 and the upper-unit lease continuing through 08/31/2026. Professional management is already in place and may remain. The property offers driveway parking, public water and sewer, and access to I-71 and I-90. Shopping, restaurants, schools, parks, and public transportation are located nearby in Cleveland.
Key Highlights
- Two occupied units: lower 2‑bedroom/1‑bath apartment and upper 1‑bedroom/1‑bath apartment
- 1,455 square feet on a 0.1286‑acre lot
- Shared basement provides additional storage space
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
$12,895
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
8.06%
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%
$257,900
$257.9K
Cap Rate 7%
$184,214
$184.2K
Cap Rate 9%
$143,278
$143.3K
Market Conditions
NOI Build-Up for 1,455 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
$25.0K $17.16/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$23.4K $16.11/SF
− OpEx
−$10.6K −$7.25/SF
NOI
$12.9K $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%
$257,900
Cap Rate 7%
$184,214
Cap Rate 9%
$143,278
Alternative Uses
Best Use
Multifamily LT 5
$231.8K
$202.8K – $270.5K
NOI $16,227 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$184.2K
$161.2K – $214.9K
NOI $12,895 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$274.0K
$239.7K – $319.6K
NOI $19,177 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
512
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-unit layout includes separate kitchens, living rooms, and full bathrooms.
Where is this duplex located?
The property is located at 3746 W 140th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two occupied units: lower 2‑bedroom/1‑bath apartment and upper 1‑bedroom/1‑bath apartment; 1,455 square feet on a 0.1286‑acre lot; Shared basement provides additional storage space
