Leased Duplex with Updated
New
For Sale
$305,000
5714 Bridge Avenue, Cleveland, OH 44102
ResidentialIncome, Cleveland, OH
Property Size1,799 SF
Lot Size0.07 Acres
Price / SF$169.54
Days on Market4
Property Features for 5714 Bridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Basement, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4
Parking features
Driveway
Exterior features
Balcony
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Subdivision
Somers & Winterton Allotment
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
Detroit Ave to W 58th St, south to Bridge Ave, then east. Property between W 58th and W 57th.
Standard status
Active
APN
002-32-138
Size
1,799 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
49 S&W SL 38 EP 0037 EP
Tax Annual Amount
4706
Legal Description
49 S&W SL 38 EP 0037 EP
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
private rooftop area
Building Details
Year built
1920
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
The Agency Cleveland Northcoast
(216) 415-7080
Listed By:
Candace Papotto · License #2019007055
(440) 212-4971
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 18 at 3:06PM
MLS# 5243370
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 two-family property contains 1,799 finished square feet above grade on a 0.069-acre lot, with a full basement and rear driveway parking. The lower residence features an open living and dining arrangement, updated kitchen with stainless appliances and stone counters, two bedrooms, a bonus room, in-unit laundry, and a renovated bathroom. The upper unit has its own entrance, updated kitchen and bath, luxury vinyl tile, laundry, and access to a private rooftop area with deck potential. Both residences are under written leases, including a corporate tenancy extending through August 2029.
Major exterior and mechanical improvements completed in 2026 include a tear-off roof with architectural shingles, vinyl siding installed over Tyvek house wrap, new gutters and downspouts, east-elevation windows, and a new air conditioning condenser. The building also has forced-air gas heat, central air, separately metered electric, public water and sewer, and rental registration with the City of Cleveland. The property is in Detroit Shoreway, approximately a half mile from Gordon Square and minutes from Ohio City, Edgewater, and downtown.
Major exterior and mechanical improvements completed in 2026 include a tear-off roof with architectural shingles, vinyl siding installed over Tyvek house wrap, new gutters and downspouts, east-elevation windows, and a new air conditioning condenser. The building also has forced-air gas heat, central air, separately metered electric, public water and sewer, and rental registration with the City of Cleveland. The property is in Detroit Shoreway, approximately a half mile from Gordon Square and minutes from Ohio City, Edgewater, and downtown.
Key Highlights
- Two‑family property with 1,799 finished square feet above grade
- Both units are under written leases; one corporate lease runs through August 2029
- 2026 improvements include tear‑off roof, new siding, gutters, downspouts, east‑elevation windows, and AC condenser
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
$21,503
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
7.05%
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%
$430,060
$430.1K
Cap Rate 7%
$307,186
$307.2K
Cap Rate 9%
$238,922
$238.9K
Market Conditions
NOI Build-Up for 1,799 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
$32.2K $17.88/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$30.7K $17.08/SF
− OpEx
−$9.2K −$5.12/SF
NOI
$21.5K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /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%
$430,060
Cap Rate 7%
$307,186
Cap Rate 9%
$238,922
Alternative Uses
Best Use
Multifamily LT 5
$307.2K
$268.8K – $358.4K
NOI $21,503 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$285.0K
$249.3K – $332.5K
NOI $19,947 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$439.0K
$384.1K – $512.2K
NOI $30,731 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
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 separately accessed units offer updated kitchens, in-unit laundry, private outdoor space, and rear off-street parking.
Where is this duplex located?
The property is located at 5714 Bridge Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Two‑family property with 1,799 finished square feet above grade; Both units are under written leases; one corporate lease runs through August 2029; 2026 improvements include tear‑off roof, new siding, gutters, downspouts, east‑elevation windows, and AC condenser
