Duplex Property with Two
For Sale
$175,000
Pending
4970 & 4966 Presidential Avenue, Geneva on the Lake, OH 44041
ResidentialIncome, Geneva on the Lake, OH
Property Size1,108 SF
Lot Size0.09 Acres
Days on Market113
Property Features for 4970 & 4966 Presidential Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 2
Interior features
EatInKitchen
Appliances
Range, Refrigerator
Subdivision
Log Cabin Allotment
Lot features
Less Than Half Acre, Back Yard, Corner Lot, Flat, Front Yard, Level
Elementary school district
Geneva Area CSD - 404
Middle school district
Geneva Area CSD - 404
High school district
Geneva Area CSD - 404
Directions
Lake Rd E to Presidential Ave - Log Cabin Bar on corner of Lake and Presidential. Homes are on corner of Lake Rd and Presidential
Standard status
Pending
APN
210320006500
Size
1,108 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
158 LOG CABIN ALLOT
Tax Annual Amount
811
Legal Description
158 LOG CABIN ALLOT
Utilities
Sewer type
Public Sewer
Heating system
Space Heater
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
screened in front porch
Building Details
Year built
1941
Floors in Building
1
Building materials
WoodSiding
Roof type
Metal
Listing Agency:
Keller Williams Greater Cleveland Northeast · Keller Williams Realty
(440) 255-5500
Listed By:
Jennifer L Allen · License #2003014671
(440) 796-4833
Added: May 19
Changed: Sep 2
Last Checked: Sep 8 at 4:06PM
MLS# 5211273
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 duplex offering includes two wood-sided cottages totaling 1,108 square feet on a 0.09-acre parcel. The residences were built in 1941 and provide six bedrooms and two full bathrooms overall. The larger home at 4970 Presidential Avenue contains 704 square feet with four bedrooms, a living room, eat-in kitchen, and bathroom. The 404-square-foot cottage at 4966 Presidential Avenue has two bedrooms, a living room, eat-in kitchen, and bathroom. Both structures have metal roofs and screened front porches.
Public water and public sewer serve the property, with utilities at 4970 Presidential Avenue feeding the second residence. The parcel sits at the corner of Lake Road and Presidential Avenue in Geneva on the Lake, near the community’s main strip. Appliances include ranges and refrigerators. The property is offered as-is and requires a cash purchase.
Public water and public sewer serve the property, with utilities at 4970 Presidential Avenue feeding the second residence. The parcel sits at the corner of Lake Road and Presidential Avenue in Geneva on the Lake, near the community’s main strip. Appliances include ranges and refrigerators. The property is offered as-is and requires a cash purchase.
Key Highlights
- Two cottages totaling 1,108 square feet on 0.09 acres
- Six bedrooms and two full bathrooms across both residences
- 4970 Presidential Avenue: 704 square feet, 4 bedrooms, living room, eat‑in kitchen, and bathroom
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
$10,322
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
5.90%
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%
$206,440
$206.4K
Cap Rate 7%
$147,457
$147.5K
Cap Rate 9%
$114,689
$114.7K
Market Conditions
NOI Build-Up for 1,108 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
$15.6K $14.10/SF
− Vacancy
−$876 −$0.79/SF
EGI
$14.7K $13.31/SF
− OpEx
−$4.4K −$3.99/SF
NOI
$10.3K $9.32/SF
Area
Ashtabula County, OH
Vacancy
5.61%
Lease Rate
$14.10 /SF/Yr
Expense Ratio
30.00%
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%
$206,440
Cap Rate 7%
$147,457
Cap Rate 9%
$114,689
Alternative Uses
Best Use
Multifamily LT 5
$147.5K
$129.0K – $172.0K
NOI $10,322 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$135.7K
$118.7K – $158.3K
NOI $9,496 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$206.5K
$180.7K – $240.9K
NOI $14,453 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 44041, OH
13,910
Population
7,155
Households
1.9
Avg Household Size
46
Median Age
18%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
214
Density / Sq Mi
$58,438
Median Household Income
$37,644
Median Earnings
$816
Median Rent
$167,000
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 separate cottage-style residences with screened porches, public utilities, and compact lots near Geneva on the Lake’s main strip.
Where is this duplex located?
The property is located at 4970 & 4966 Presidential Avenue Geneva on the Lake, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two cottages totaling 1,108 square feet on 0.09 acres; Six bedrooms and two full bathrooms across both residences; 4970 Presidential Avenue: 704 square feet, 4 bedrooms, living room, eat‑in kitchen, and bathroom
