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    Renovated Duplex in Prime Location Title is generated by Realmo AI

    12929 Plover Street, Lakewood, OH 44107

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    For Sale
    $329,900

    MULTI_FAMILY - Lakewood, OH

    Property size:
    2,022 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $163/SF
    Added:
    May 23, 2026
    Days on Market:
    1
    Last Refresh:
    May 23 at 5:06 pm

    Property Features for 12929 Plover Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 3, Basement, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 4
    Parking features
    Garage, Open
    Standard status
    Active
    APN
    315-22-115
    Size
    2,022 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    20 PLEASHI 0337 NEP
    Tax Annual Amount
    3650

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Other (Heating), Steam
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1906
    Floors in Building
    2
    Building materials
    AluminumSiding
    Roof type
    Asphalt, Fiberglass

    We can help!

    Listing Contact
    Noureddine Chehade

    Listing agent Noureddine Chehade License #2021006808

    Listing office EXP Realty, LLC. 159 Crocker Park Blvd. #400, Dublin, OH

    Listing date May 23, 2026

    MLS# 5212313 Listing URL

    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.

    HighLights

    • Fully renovated duplex in a prime Lakewood location, offering a turnkey, income‑producing property.
    • Rare 3‑car garage with spacious driveway, providing ample parking and storage in Lakewood.
    • Two units featuring brand‑new kitchens with stylish cabinetry, updated countertops, and modern fixtures; plus fully renovated bathrooms.
    • Luxury vinyl flooring throughout, ensuring durability and low maintenance.
    • Excellent location: Minutes from Lake Erie, Edgewater Park, Lakewood Park, and Downtown Lakewood's amenities.
    • Convenient access to I‑90 for an easy commute to Downtown Cleveland and major employers.

    Overview

    This fully renovated duplex is located in Lakewood, Ohio. The multi-family property features a total of 4 bedrooms and 4 bathrooms, divided between two units. Both units include brand-new kitchens with cabinetry, updated countertops, and modern fixtures, as well as fully renovated bathrooms with contemporary finishes. Luxury vinyl flooring is installed throughout, and new electrical fixtures have been added. Exterior improvements include a newer, spacious driveway leading to a 3-car garage. The property is situated minutes from Lake Erie, Edgewater Park, Lakewood Park, and Downtown Lakewood, offering walkability to local restaurants, coffee shops, shopping, and nightlife. Convenient access to I-90 allows for an easy commute to Downtown Cleveland, hospitals, and major employers. The property size is 2022 square feet, situated on a lot of 0.1226 acres. This income-producing multi-family home blends modern finishes with rental demand in one of Northeast Ohio's most desirable communities. It is suitable for investors seeking rental potential or owner-occupants looking to offset their mortgage.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $238.2K
    NOI $21,439 @ 9.00% cap · cautious / downside scenario
    Moderate
    $306.3K
    NOI $21,439 @ 7.00% cap · market / base-case scenario
    Aggressive
    $428.8K
    NOI $21,439 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $32.8k $16.20
    − Vacancy −$2.1k −$1.05
    EGI $30.6k $15.15
    − OpEx −$9.2k −$4.54
    NOI $21.4k $10.60
    2,022 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $306.3K
    $268.0K – $357.3K (±1% cap)
    NOI $21,439 @ 7.0% cap · market cap 6.50%
    Second Best
    Apartment 5plus
    $285.5K
    $249.9K – $333.1K (±1% cap)
    NOI $19,988 @ 7.0% cap · market cap 6.06%
    Theoretical Best
    Warehouse
    $1.62M
    $1.42M – $1.89M (±1% cap)
    NOI $113,408 @ 7.0% cap · market cap 34.38%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7788275
    Latitude
    41.471951

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    FAQs

    What type of property is this?
    Duplex - Fully renovated duplex in Lakewood, near Lake Erie and Downtown.
    Where is this duplex located?
    The property is located at 12929 Plover Street Lakewood, OH.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: Fully renovated duplex in a prime Lakewood location, offering a turnkey, income‑producing property.; Rare **3‑car garage with spacious driveway**, providing ample parking and storage in Lakewood.; Two units featuring **brand‑new kitchens with stylish cabinetry, updated countertops, and modern fixtures; plus fully renovated bathrooms.**
    (216) 856-1760
    We can help!
    Listing Contact
    Noureddine Chehade
    Real Estate License ID: 2021006808
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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