Updated Duplex with Two 3-Bedroom
New
For Sale
$410,000
1221 Brockley Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,190 SF
Lot Size0.11 Acres
Price / SF$187.21
Days on Market3
Property Features for 1221 Brockley Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 6, Laundry Room, Bedroom 1, Bedroom 4, Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1
Parking features
Garage
Subdivision
Delmar
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
From Lake Ave go south on Brockley Ave. House is on the left.
Standard status
Active
APN
311-32-142
Size
2,190 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
22 DELMAR 0043 ALL
Tax Annual Amount
7250
Legal Description
22 DELMAR 0043 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
Ed Huck · License #390263
(440) 617-2500
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 18 at 12:06PM
MLS# 5245217
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.
Built in 1915, this Lakewood duplex contains 2,190 square feet across two 3-bedroom, 1-bath units. The upper residence includes refinished hardwood floors completed in 2024, fresh paint, a bathroom remodel from 2018, and a newer furnace and central air system installed in 2024. The lower unit has fresh paint, a 2019 furnace, and a dishwasher replaced in 2026.
Recent exterior work includes a 2026 roof, gutters, and downspouts, 2024 vinyl siding, whole-house vinyl windows replaced in 2019, and a 2019 garage roof. A full basement provides laundry and storage space, while the detached garage supplies off-street parking. The property also features public water and sewer, forced-air natural gas heating, and smart locks at the side entry and garage doors. Located at 1221 Brockley Avenue in Lakewood, Ohio, the property supports an owner-occupant arrangement or continued rental use.
Recent exterior work includes a 2026 roof, gutters, and downspouts, 2024 vinyl siding, whole-house vinyl windows replaced in 2019, and a 2019 garage roof. A full basement provides laundry and storage space, while the detached garage supplies off-street parking. The property also features public water and sewer, forced-air natural gas heating, and smart locks at the side entry and garage doors. Located at 1221 Brockley Avenue in Lakewood, Ohio, the property supports an owner-occupant arrangement or continued rental use.
Key Highlights
- Two 3‑bedroom, 1‑bath units within 2,190 square feet
- Upper unit updates include 2024 hardwood refinishing, paint, furnace, and central air
- 2026 roof, gutters, downspouts, and lower‑unit dishwasher replacement
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
$23,220
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
5.66%
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%
$464,400
$464.4K
Cap Rate 7%
$331,714
$331.7K
Cap Rate 9%
$258,000
$258.0K
Market Conditions
NOI Build-Up for 2,190 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
$35.5K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.2K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.2K $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%
$464,400
Cap Rate 7%
$331,714
Cap Rate 9%
$258,000
Alternative Uses
Best Use
Multifamily LT 5
$331.7K
$290.3K – $387.0K
NOI $23,220 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$309.3K
$270.6K – $360.8K
NOI $21,649 @ 7.0% cap · market cap 5.28%
Theoretical Best
Warehouse
$1.75M
$1.54M – $2.05M
NOI $122,831 @ 7.0% cap · market cap 29.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,044
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Lakewood duplex with refreshed interiors, a full basement, detached garage, and separate living spaces suited to owner occupancy or rental use.
Where is this duplex located?
The property is located at 1221 Brockley Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units within 2,190 square feet; Upper unit updates include 2024 hardwood refinishing, paint, furnace, and central air; 2026 roof, gutters, downspouts, and lower‑unit dishwasher replacement
