Brick Ranch Duplex with Center
For Sale
$210,000
605 W 36th Street Lorain OH 44052, Lorain, OH 44052
Brick ranch duplex offers two matching 2-bedroom units with a center garage and in-unit laundry areas.
Property Size1,736 SF
Lot Size0.25 Acres
Price / SF$120.97
Days on Market88
Property Features for 605 W 36th Street Lorain OH 44052
General Information
Standard status
Active
Size
1,736 SF
Lot size
0.25 Acres
Property subtype
ResidentialIncome
Additional Details
Multifamily Units
2
Building Details
Year Built
1964
Tenancy
Multi
Listing Agency:
Russell Real Estate Services
Listed By:
Carol Gallardo · License #253647
(440) 667-7514
Source:
Search.reafcorealestate
Added: Jul 11
Changed: Oct 3
Last Checked: Oct 5 at 3:07PM
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 brick ranch-style duplex features a center garage with each side laid out the same. Each unit includes two bedrooms, a kitchen with an eating area, a living room, and a laundry area, along with separate crawl space access on each side.
The property includes some updates, including newer windows on the east side, new screen doors, and one newer water tank. Long-term renters are in place.
The duplex sits on two lots totaling 0.25 acres, with the home on one lot and the other located at the corner of 36th and Oakdale.
The property includes some updates, including newer windows on the east side, new screen doors, and one newer water tank. Long-term renters are in place.
The duplex sits on two lots totaling 0.25 acres, with the home on one lot and the other located at the corner of 36th and Oakdale.
Key Highlights
- Brick ranch duplex built in 1964 with 2 matching 2‑bedroom units, each with kitchen, eating area, living room, and laundry
- Center garage setup plus separate crawl space access on each side of the duplex
- Some updates include newer windows on the east side, new screen doors, and 1 newer water tank
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,898
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,960
$318.0K
Cap Rate 7%
$227,114
$227.1K
Cap Rate 9%
$176,644
$176.6K
Market Conditions
NOI Build-Up for 1,736 SF
Gross rent
$24.0K $13.80/SF
− Vacancy
−$1.2K −$0.72/SF
EGI
$22.7K $13.08/SF
− OpEx
−$6.8K −$3.92/SF
NOI
$15.9K $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%
$317,960
Cap Rate 7%
$227,114
Cap Rate 9%
$176,644
Alternative Uses
Best Use
Multifamily LT 5
$227.1K
$198.7K – $265.0K
NOI $15,898 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$212.1K
$185.6K – $247.5K
NOI $14,849 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$437.5K
$382.8K – $510.4K
NOI $30,623 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 44052, OH
29,249
Population
13,673
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
83%
High-School Grad
9.5 sq mi
ZIP Area
3,079
Density / Sq Mi
$42,298
Median Household Income
$31,985
Median Earnings
$840
Median Rent
$104,000
Median Home Value
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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 - Brick ranch duplex offers two matching 2-bedroom units with a center garage and in-unit laundry areas.
Where is this duplex located?
The property is located at 605 W 36th Street Lorain OH 44052 Lorain, OH.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Brick ranch duplex built in 1964 with 2 matching 2‑bedroom units, each with kitchen, eating area, living room, and laundry; Center garage setup plus separate crawl space access on each side of the duplex; Some updates include newer windows on the east side, new screen doors, and 1 newer water tank
