Two-Unit Duplex with
For Sale
$347,000
Pending
1200 Cook Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,445 SF
Lot Size0.13 Acres
Days on Market95
Property Features for 1200 Cook Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 2, Laundry Room, Bathroom 1, Bedroom 1, Basement
Parking features
Open, On Street, Garage
Interior features
CeilingFans
Exterior features
Balcony
Fencing
Fenced
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
Lakewood Realty
View
City
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
1 street west of Warren, north of Detroit
Standard status
Pending
APN
312-12-094
Size
2,445 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
22 LKPK S/L 43 ALL BUT NWP
Tax Annual Amount
6541
Legal Description
22 LKPK S/L 43 ALL BUT NWP
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
fenced in back yard
front porch
Building Details
Year built
1909
Floors in Building
2
Building materials
VinylSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
Bill Calabrase · License #2016003197
(440) 823-8657
Added: May 29
Changed: Aug 26
Last Checked: Aug 31 at 9:06PM
MLS# 5212999
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 1909 duplex contains 2,445 square feet on a 0.1322-acre lot. Each primary unit includes two bedrooms and one full bathroom, while the third floor provides additional living space or the option for a third bedroom. Both units have front porches, and the property also includes a fenced rear yard, roomy two-car garage, and driveway. Vinyl siding, vinyl windows, updated electric, forced-air heating, and window-unit cooling are among the existing improvements. Furnaces were installed in 2015, and both hot water tanks date to 2023. Laundry appliances and kitchen appliances, including ranges and refrigerators, are included.
The property is located on Cook Avenue in Lakewood, 2.4 miles from I-90 and near retail businesses. Public water and public sewer serve the property, which is POS compliant.
The property is located on Cook Avenue in Lakewood, 2.4 miles from I-90 and near retail businesses. Public water and public sewer serve the property, which is POS compliant.
Key Highlights
- 2,445‑square‑foot duplex on a 0.1322‑acre lot
- Each floor offers 2 bedrooms and 1 full bathroom
- Third floor provides extra living space or a 3rd bedroom
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 - Lakewood duplex with two-bedroom units, third-floor flex space, and a fenced rear yard.
Where is this duplex located?
The property is located at 1200 Cook Avenue 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: 2,445‑square‑foot duplex on a 0.1322‑acre lot; Each floor offers 2 bedrooms and 1 full bathroom; Third floor provides extra living space or a 3rd bedroom
