Fully Occupied
For Sale
$165,000
10609 Wadsworth Ave, Garfield Heights, OH 44125
Two-unit residential property with separate living areas and established rental occupancy.
Property Size1,536 SF
Price / SF$107.42
Days on Market30
Property Features for 10609 Wadsworth Ave
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$24,384
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Keller Williams Citywide
(216) 916-7778
Listed By:
Gregory Erlanger · License #2004000516
Source:
Theacclaimedrealty
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 30 at 5:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Citywide
Investment Insights
Based on property information with market context.
This 1,536-square-foot duplex includes four bedrooms and two bathrooms across its two residential units. Separate living areas provide distinct spaces for each unit, while the property’s fully occupied status supports ongoing rental operations.
Built in 1925, the property is located at 10609 Wadsworth Ave in Garfield Heights, Ohio. Its existing occupancy and duplex configuration provide an established residential income property for investors seeking a currently rented asset.
Built in 1925, the property is located at 10609 Wadsworth Ave in Garfield Heights, Ohio. Its existing occupancy and duplex configuration provide an established residential income property for investors seeking a currently rented asset.
Key Highlights
- Fully occupied duplex with rental income in place
- 1,536 square feet of property size
- Four bedrooms and two bathrooms
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
$15,184
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
9.20%
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%
$303,680
$303.7K
Cap Rate 7%
$216,914
$216.9K
Cap Rate 9%
$168,711
$168.7K
Market Conditions
NOI Build-Up for 1,536 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
$29.3K $19.08/SF
− Vacancy
−$1.7K −$1.11/SF
EGI
$27.6K $17.97/SF
− OpEx
−$12.4K −$8.09/SF
NOI
$15.2K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /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%
$303,680
Cap Rate 7%
$216,914
Cap Rate 9%
$168,711
Alternative Uses
Best Use
Multifamily LT 5
$232.7K
$203.6K – $271.4K
NOI $16,286 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$216.9K
$189.8K – $253.1K
NOI $15,184 @ 7.0% cap · market cap 9.20%
Theoretical Best
Warehouse
$1.23M
$1.08M – $1.44M
NOI $86,150 @ 7.0% cap · market cap 52.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 44125, OH
29,663
Population
12,849
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
90%
High-School Grad
14.0 sq mi
ZIP Area
2,119
Density / Sq Mi
$55,524
Median Household Income
$37,292
Median Earnings
$1,103
Median Rent
$107,400
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-unit residential property with separate living areas and established rental occupancy.
Where is this duplex located?
The property is located at 10609 Wadsworth Ave Garfield Heights, OH.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Fully occupied duplex with rental income in place; 1,536 square feet of property size; Four bedrooms and two bathrooms
