Renovated Side-by-Side
New
For Sale
$240,000
102 Hartman Street, Berea, OH 44017
ResidentialIncome, Berea, OH
Property Size2,076 SF
Lot Size0.12 Acres
Price / SF$115.61
Days on Market1
Property Features for 102 Hartman Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Basement
Parking features
Garage
Subdivision
F J Hartman
Lot features
Wooded
Elementary school district
Berea CSD - 1804
Middle school district
Berea CSD - 1804
High school district
Berea CSD - 1804
Directions
Fair St to Hartman.
Standard status
Active
APN
363-18-041
Size
2,076 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
16 HARTMAN 0010 ALL
Tax Annual Amount
2442
Legal Description
16 HARTMAN 0010 ALL
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private basements
Building Details
Year built
1946
Floors in Building
2
Building materials
Stone
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Michael L Magno · License #2016003542
(216) 236-8849
Added: Aug 20
Last Checked: Aug 20 at 10:06PM
MLS# 5227831
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 2,076 square feet arranged as two side-by-side residences. Each unit offers two bedrooms, one bathroom, and a private basement, creating a more horizontal layout than a conventional stacked duplex. The building was renovated in 2020 and 2021 and includes a garage, stone construction, natural-gas forced-air heat, and central air conditioning.
The property sits on a 0.1218-acre lot in Berea, Ohio, with public water and public sewer service. Baldwin Wallace University, Cleveland Hopkins International Airport, major highways, shopping, dining, downtown Cleveland, and west-side employment centers are identified in the surrounding context. Both residences are occupied by long-term tenants, and tenants pay their own gas and electric service.
The property sits on a 0.1218-acre lot in Berea, Ohio, with public water and public sewer service. Baldwin Wallace University, Cleveland Hopkins International Airport, major highways, shopping, dining, downtown Cleveland, and west-side employment centers are identified in the surrounding context. Both residences are occupied by long-term tenants, and tenants pay their own gas and electric service.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 1 bathroom
- 2,076 square feet on a 0.1218‑acre lot
- Private basement included with each residence
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
$22,012
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
9.17%
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%
$440,240
$440.2K
Cap Rate 7%
$314,457
$314.5K
Cap Rate 9%
$244,578
$244.6K
Market Conditions
NOI Build-Up for 2,076 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
$33.6K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$31.4K $15.15/SF
− OpEx
−$9.4K −$4.54/SF
NOI
$22.0K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$440,240
Cap Rate 7%
$314,457
Cap Rate 9%
$244,578
Alternative Uses
Best Use
Multifamily LT 5
$314.5K
$275.2K – $366.9K
NOI $22,012 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$293.2K
$256.5K – $342.0K
NOI $20,522 @ 7.0% cap · market cap 8.55%
Theoretical Best
Warehouse
$1.66M
$1.46M – $1.94M
NOI $116,437 @ 7.0% cap · market cap 48.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 44017, OH
18,611
Population
7,359
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
6.1 sq mi
ZIP Area
3,051
Density / Sq Mi
$72,044
Median Household Income
$37,182
Median Earnings
$981
Median Rent
$187,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two private-basement units provide a single-family-style layout with separate tenant parking.
Where is this duplex located?
The property is located at 102 Hartman Street Berea, OH.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms and 1 bathroom; 2,076 square feet on a 0.1218‑acre lot; Private basement included with each residence
