Duplex with Finished Third-Floor
New
For Sale
$315,000
1296 Fry Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,371 SF
Lot Size0.09 Acres
Price / SF$132.86
Days on Market2
Property Features for 1296 Fry Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bathroom 2, Basement, Laundry Room, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3
Parking features
Driveway
Exterior features
Balcony
Subdivision
Rockport Sec 21
Lot features
City Lot
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Heading North on W 117th, make a left onto Detroit, and a right onto Fry. The home is on the left-hand side
Standard status
Active
APN
312-29-049
Size
2,371 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
21 RYMER 0010 ALL
Tax Annual Amount
5663
Legal Description
21 RYMER 0010 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1917
Floors in Building
3
Building materials
Asphalt, Block, WoodSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 835-4900
Listed By:
Cassandra Karkan · License #2019004440
(216) 337-8105
Added: Oct 21
Last Checked: Oct 22 at 7:06PM
MLS# 5254817
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.
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Investment Insights
Based on property information with market context.
This 1917 duplex contains 2,371 square feet across two apartments, each arranged with two bedrooms, one bathroom, a living room, dining room, and kitchen. The first-floor unit has private attic storage on the third floor. Above, the second-floor apartment includes a finished third-floor area that can serve as supplemental interior space. A front porch and balcony add outdoor features to the upper unit.
Updates include replacement of most windows, refreshed siding and front paint near the balcony, a new hot water tank in 2025, and a full repaint of the second-floor interior. The property occupies a 0.0891-acre lot at 1296 Fry Avenue in Lakewood, Ohio.
Updates include replacement of most windows, refreshed siding and front paint near the balcony, a new hot water tank in 2025, and a full repaint of the second-floor interior. The property occupies a 0.0891-acre lot at 1296 Fry Avenue in Lakewood, Ohio.
Key Highlights
- Two‑apartment property with 2,371 square feet of building area
- Each unit has 2 bedrooms, 1 bathroom, a living room, dining room, and kitchen
- Finished third‑floor space serves the second‑floor unit; first‑floor unit has private attic storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,139
Cap Rate
7.98%
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 7.98%
Second Best
Apartment 5plus
$334.8K
$293.0K – $390.6K
NOI $23,438 @ 7.0% cap · market cap 7.44%
Theoretical Best
Warehouse
$1.90M
$1.66M – $2.22M
NOI $132,982 @ 7.0% cap · market cap 42.22%
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 - Two matching apartments offer separate living and dining rooms, with additional private space on the upper levels.
Where is this duplex located?
The property is located at 1296 Fry Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑apartment property with 2,371 square feet of building area; Each unit has 2 bedrooms, 1 bathroom, a living room, dining room, and kitchen; Finished third‑floor space serves the second‑floor unit; first‑floor unit has private attic storage
