Side-by-Side Duplex with
For Sale
$399,900
Pending
1187 Bonnie Ln, Mayfield Heights, OH 44124
Two private units offer flexible occupancy, basement storage, separate driveways, and a detached garage.
Property Size3,876 SF
Days on Market14
Property Features for 1187 Bonnie Ln
General Information
Standard status
Pending
Size
3,876 SF
Total Parking Spaces
2
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,146
Building Details
Tenancy
Multi
Listing Agency:
McDowell Homes Real Estate Services
(440) 954-2765
Listed By:
Erin Lennon · License #2022005628
(440) 954-2765
Source:
Exprealty
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 9 at 10:49AM
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 McDowell Homes Real Estate Services
Investment Insights
Based on property information with market context.
This well-maintained side-by-side duplex contains 3,876 square feet, with no shared interior access between the units. Each unit includes 3 bedrooms, 1.5 bathrooms, an eat-in kitchen, separate living and dining rooms, and a full unfinished basement for storage. A detached two-car garage and private driveways provide on-site parking.
One unit is vacant, while the other is occupied by a long-term month-to-month tenant, creating flexibility for an owner-occupant or continued rental use. One unit has a brand-new central air conditioning system installed in July 2026. The property is located at 1187 Bonnie Ln in Mayfield Heights, OH, and will be point-of-sale violation free at closing.
One unit is vacant, while the other is occupied by a long-term month-to-month tenant, creating flexibility for an owner-occupant or continued rental use. One unit has a brand-new central air conditioning system installed in July 2026. The property is located at 1187 Bonnie Ln in Mayfield Heights, OH, and will be point-of-sale violation free at closing.
Key Highlights
- 3,876‑square‑foot side‑by‑side duplex with no shared interior access
- Both units offer 3 bedrooms, 1.5 bathrooms, eat‑in kitchens, and separate living and dining rooms
- Full unfinished basement in each unit provides 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
$32,877
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
8.22%
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%
$657,540
$657.5K
Cap Rate 7%
$469,671
$469.7K
Cap Rate 9%
$365,300
$365.3K
Market Conditions
NOI Build-Up for 3,876 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
$50.2K $12.96/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$47.0K $12.12/SF
− OpEx
−$14.1K −$3.64/SF
NOI
$32.9K $8.48/SF
Area
ZIP 44124
Vacancy
6.50%
Lease Rate
$12.96 /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%
$657,540
Cap Rate 7%
$469,671
Cap Rate 9%
$365,300
Alternative Uses
Best Use
Multifamily LT 5
$469.7K
$411.0K – $548.0K
NOI $32,877 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$411.8K
$360.3K – $480.4K
NOI $28,825 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$729.8K
$638.6K – $851.4K
NOI $51,086 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Explore this area
Business Placement
Demographics for 44124, OH
40,530
Population
20,064
Households
2
Avg Household Size
44
Median Age
51%
College-Educated
96%
High-School Grad
15.2 sq mi
ZIP Area
2,666
Density / Sq Mi
$78,895
Median Household Income
$55,741
Median Earnings
$1,132
Median Rent
$210,600
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 private units offer flexible occupancy, basement storage, separate driveways, and a detached garage.
Where is this duplex located?
The property is located at 1187 Bonnie Ln Mayfield Heights, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,876‑square‑foot side‑by‑side duplex with no shared interior access; Both units offer 3 bedrooms, 1.5 bathrooms, eat‑in kitchens, and separate living and dining rooms; Full unfinished basement in each unit provides storage space
