Duplex with Two-Car
For Sale
$347,000
1200 Cook Ave, Lakewood, OH 44107
Two residential units include private porches, a fenced yard, and flexible third-floor space.
Property Size2,445 SF
Price / SF$141.92
Days on Market27
Property Features for 1200 Cook Ave
General Information
Standard status
Active
Size
2,445 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced back yard
front porch
Building Details
Year Built
1909
Buildings
1
Stories
3
Listing Agency:
Keller Williams Citywide
(440) 823-8657
Listed By:
Bill Calabrase · License #2016003197
Source:
Thelindsayteam
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 30 at 8:12PM
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.
Built in 1909, this duplex contains 2445 SF with two residential units. Each unit offers two bedrooms and one full bathroom, while the third-floor areas provide additional living space or potential bedroom use. Both units also have front porches, and the property includes a roomy two-car garage and fenced backyard.
Recent improvements and updates include vinyl windows, vinyl siding, an updated electrical system, a newer driveway, furnaces installed in 2015, and hot water tanks installed in 2023. The roof is reported to be less than 20 years old. The property is POS compliant and sits 2.4 miles from I-90, with retail businesses nearby.
Recent improvements and updates include vinyl windows, vinyl siding, an updated electrical system, a newer driveway, furnaces installed in 2015, and hot water tanks installed in 2023. The roof is reported to be less than 20 years old. The property is POS compliant and sits 2.4 miles from I-90, with retail businesses nearby.
Key Highlights
- Duplex with 2445 SF and two units
- Each unit has 2 bedrooms and 1 full bathroom
- Third‑floor space offers additional living area or potential bedroom use
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
$25,924
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
7.47%
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%
$518,480
$518.5K
Cap Rate 7%
$370,343
$370.3K
Cap Rate 9%
$288,044
$288.0K
Market Conditions
NOI Build-Up for 2,445 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
$39.6K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.0K $15.15/SF
− OpEx
−$11.1K −$4.54/SF
NOI
$25.9K $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%
$518,480
Cap Rate 7%
$370,343
Cap Rate 9%
$288,044
Alternative Uses
Best Use
Multifamily LT 5
$370.3K
$324.1K – $432.1K
NOI $25,924 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$345.3K
$302.1K – $402.8K
NOI $24,170 @ 7.0% cap · market cap 6.97%
Theoretical Best
Warehouse
$1.96M
$1.71M – $2.29M
NOI $137,133 @ 7.0% cap · market cap 39.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 44107, OH
51,109
Population
29,101
Households
1.8
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
9,465
Density / Sq Mi
$65,778
Median Household Income
$49,285
Median Earnings
$1,011
Median Rent
$241,400
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 residential units include private porches, a fenced yard, and flexible third-floor space.
Where is this duplex located?
The property is located at 1200 Cook Ave Lakewood, OH.
What is the asking price?
The asking price for this property is $347,000.
What are key features of this property?
This property features: Duplex with 2445 SF and two units; Each unit has 2 bedrooms and 1 full bathroom; Third‑floor space offers additional living area or potential bedroom use
