Duplex with Two-Car
For Sale
$234,900
Pending
124 Creekfield Ct, Elyria, OH 44035
Both residences have matching bedroom and bath layouts, with one garage stall assigned to each unit.
Property Size2,311 SF
Days on Market40
Property Features for 124 Creekfield Ct
General Information
Standard status
Pending
Size
2,311 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
1979
Buildings
1
Construction
Colonial
Listing Agency:
Russell Real Estate Services
Listed By:
Tammy J Nemeth tammynemeth.realtor@gmail.com, 440-759-3499 · License #2021006103
(440) 759-3499
Source:
Greaterclevelandhomesforsale
Added: Sep 6
Changed: Oct 1
Last Checked: Oct 14 at 11:33PM
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 Russell Real Estate Services
Investment Insights
Based on property information with market context.
This 2,311-square-foot duplex contains two residences, each with 2 bedrooms and 1.5 bathrooms. Recent interior work includes vinyl flooring, new carpeting, fresh paint, and updated lighting and finishes. A two-car garage provides one stall for each unit, along with additional storage. A one-year home warranty is included.
The property sits on a cul-de-sac in Elyria, Ohio. Shopping, dining, schools, major roadways, and everyday amenities are identified among the nearby conveniences.
The property sits on a cul-de-sac in Elyria, Ohio. Shopping, dining, schools, major roadways, and everyday amenities are identified among the nearby conveniences.
Key Highlights
- Two residences, each with 2 bedrooms and 1.5 bathrooms
- 2,311‑square‑foot duplex
- Two‑car garage with one stall assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,163
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,260
$423.3K
Cap Rate 7%
$302,329
$302.3K
Cap Rate 9%
$235,144
$235.1K
Market Conditions
NOI Build-Up for 2,311 SF
Gross rent
$31.9K $13.80/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$30.2K $13.08/SF
− OpEx
−$9.1K −$3.92/SF
NOI
$21.2K $9.16/SF
Area
Lorain County, OH
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,260
Cap Rate 7%
$302,329
Cap Rate 9%
$235,144
Alternative Uses
Best Use
Multifamily LT 5
$302.3K
$264.5K – $352.7K
NOI $21,163 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$282.4K
$247.1K – $329.5K
NOI $19,767 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$582.4K
$509.6K – $679.4K
NOI $40,766 @ 7.0% cap · market cap 17.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Explore this area
Business Placement
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
Median Home Value
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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 - Both residences have matching bedroom and bath layouts, with one garage stall assigned to each unit.
Where is this duplex located?
The property is located at 124 Creekfield Ct Elyria, OH.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1.5 bathrooms; 2,311‑square‑foot duplex; Two‑car garage with one stall assigned to each unit
