Updated Duplex with Off-Street
For Sale
$274,900
1901 Coltman Road Cleveland OH 44106, Cleveland, OH 44106
Two residential units feature open layouts, private laundry, and updated kitchens and baths.
Property Size1,540 SF
Price / SF$178.51
Days on Market42
Property Features for 1901 Coltman Road Cleveland OH 44106
General Information
Standard status
Active
Size
1,540 SF
Property subtype
ResidentialIncome
Additional Details
Multifamily Units
2
Amenities
rear deck
front porches
in-unit laundry
finished attic
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Above & Beyond
(440) 537-0567
Listed By:
Steve Junker · License #2016000959
(440) 537-0567
Source:
Search.reafcorealestate
Added: Jul 20
Changed: Aug 30
Last Checked: Jul 8 at 1:46PM
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 RE/MAX Above & Beyond
Investment Insights
Based on property information with market context.
This 1,540 SF duplex includes two residential units, each with an open living and kitchen arrangement, one bedroom, an updated full bathroom, and private in-unit laundry. Both units feature bamboo flooring, exposed brick details, and front porches. The first-floor residence includes an eat-in kitchen, while the upper unit adds stainless steel appliances, a farmhouse sink, and access to a finished attic suitable for additional living or workspace. Newer vinyl siding, a rear deck, and off-street parking are among the exterior improvements. The property also has a spacious lot with room for a future garage. Located in Cleveland’s Little Italy neighborhood, the duplex is minutes from hospitals, universities, dining, and shopping. It can accommodate an owner-occupant arrangement or continued use as a two-unit residential property.
Key Highlights
- 1540 SF duplex with 2 residential units
- Each unit includes 1 bedroom, an updated full bath, and private in‑unit laundry
- Open layouts with bamboo flooring and exposed brick accents
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,407
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,140
$368.1K
Cap Rate 7%
$262,957
$263.0K
Cap Rate 9%
$204,522
$204.5K
Market Conditions
NOI Build-Up for 1,540 SF
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.
Gross rent
$27.5K $17.88/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$26.3K $17.08/SF
− OpEx
−$7.9K −$5.12/SF
NOI
$18.4K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,140
Cap Rate 7%
$262,957
Cap Rate 9%
$204,522
Alternative Uses
Best Use
Multifamily LT 5
$263.0K
$230.1K – $306.8K
NOI $18,407 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$243.9K
$213.5K – $284.6K
NOI $17,076 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$375.8K
$328.8K – $438.5K
NOI $26,307 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 44106, OH
26,608
Population
13,287
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
6,188
Density / Sq Mi
$42,869
Median Household Income
$27,056
Median Earnings
$1,024
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature open layouts, private laundry, and updated kitchens and baths.
Where is this duplex located?
The property is located at 1901 Coltman Road Cleveland OH 44106 Cleveland, OH.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1540 SF duplex with 2 residential units; Each unit includes 1 bedroom, an updated full bath, and private in‑unit laundry; Open layouts with bamboo flooring and exposed brick accents
