Duplex with Finished Attic
For Sale
$325,000
1296 Fry Ave, Lakewood, OH 44107
Each residence includes separate living, dining, and kitchen areas, with added private attic space.
Property Size2,371 SF
Price / SF$137.07
Days on Market51
Property Features for 1296 Fry Ave
General Information
Standard status
Active
Size
2,371 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1917
Buildings
1
Stories
3
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
Listed By:
Cassandra Karkan · License #2019004440
(216) 337-8105
Source:
Thelindsayteam
Added: Sep 13
Changed: Oct 26
Last Checked: Nov 1 at 1:38PM
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 Berkshire Hathaway HomeServices Stouffer Realty
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Investment Insights
Based on property information with market context.
This 1917 duplex at 1296 Fry Ave in Lakewood, Ohio, contains 2,371 square feet and offers two residences with matching two-bedroom, one-bath layouts. Both units include dedicated living, dining, and kitchen areas. The lower residence has a private third-floor attic area for storage, while the upper residence includes a finished third-floor room that can serve as studio, playroom, office, workout area, or storage space. The upper unit also features an open front porch.
Property updates include replacement of almost every window, new siding and front exterior paint near the balcony, a new hot water tank installed in 2025, and a full interior repaint of the second floor. The duplex retains original wood trim and combines period character with these documented improvements.
Property updates include replacement of almost every window, new siding and front exterior paint near the balcony, a new hot water tank installed in 2025, and a full interior repaint of the second floor. The duplex retains original wood trim and combines period character with these documented improvements.
Key Highlights
- Two‑unit duplex with matching 2‑bedroom, 1‑bath layouts
- 2,371 square feet built in 1917
- Upper residence includes an open front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,139
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,780
$502.8K
Cap Rate 7%
$359,129
$359.1K
Cap Rate 9%
$279,322
$279.3K
Market Conditions
NOI Build-Up for 2,371 SF
Gross rent
$38.4K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$35.9K $15.15/SF
− OpEx
−$10.8K −$4.54/SF
NOI
$25.1K $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 Rate 5%
$502,780
Cap Rate 7%
$359,129
Cap Rate 9%
$279,322
Alternative Uses
Best Use
Multifamily LT 5
$359.1K
$314.2K – $419.0K
NOI $25,139 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$334.8K
$293.0K – $390.6K
NOI $23,438 @ 7.0% cap · market cap 7.21%
Theoretical Best
Warehouse
$1.90M
$1.66M – $2.22M
NOI $132,982 @ 7.0% cap · market cap 40.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes separate living, dining, and kitchen areas, with added private attic space.
Where is this duplex located?
The property is located at 1296 Fry Ave Lakewood, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with matching 2‑bedroom, 1‑bath layouts; 2,371 square feet built in 1917; Upper residence includes an open front porch
