Updated Duplex with Rear
New
For Sale
$225,000
13521 West Avenue, Cleveland, OH 44111
ResidentialIncome, Cleveland, OH
Property Size1,824 SF
Lot Size0.11 Acres
Price / SF$123.36
Days on Market7
Property Features for 13521 West Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Laundry Room, Basement, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Subdivision
Liberty
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
S Of Lorain,Off W 136th St
Standard status
Active
APN
022-15-011
Size
1,824 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
10 LIBERTY#2 0032 ALL
Tax Annual Amount
3232
Legal Description
10 LIBERTY#2 0032 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Baseboard
Cooling system
Window Unit(s)
Water source
Public
Amenities
laundry hookups
Building Details
Year built
1927
Floors in Building
2
Building materials
AluminumSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
H. Elyse Nedrow · License #2013002850
(440) 570-7979
Added: Aug 16
Changed: Aug 20
Last Checked: Aug 22 at 8:06AM
MLS# 5237376
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.
Investment Insights
Based on property information with market context.
This Cleveland duplex contains two residential units, each arranged with two bedrooms, a dining room, family room, kitchen, and enclosed porch. The property has received updates including flooring, appliances, kitchens, bathrooms, interior and exterior paint, chimney work, gas-line upgrades, and select window replacements. Off-street parking is located at the rear, and separate laundry hookups are provided in the basement.
Built in 1927, the 1,824-square-foot property sits on 0.1148 acres and uses aluminum siding, asphalt and fiberglass roofing, forced-air and baseboard heating, natural gas, and window-unit cooling. Public water and public sewer serve the property. The room inventory includes four bedrooms and two bathrooms overall.
Built in 1927, the 1,824-square-foot property sits on 0.1148 acres and uses aluminum siding, asphalt and fiberglass roofing, forced-air and baseboard heating, natural gas, and window-unit cooling. Public water and public sewer serve the property. The room inventory includes four bedrooms and two bathrooms overall.
Key Highlights
- Two‑unit duplex with 1,824 square feet of property size
- Each unit includes 2 bedrooms, dining room, family room, kitchen, and enclosed porch
- 0.1148‑acre lot with rear off‑street parking
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
$20,342
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
9.04%
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%
$406,840
$406.8K
Cap Rate 7%
$290,600
$290.6K
Cap Rate 9%
$226,022
$226.0K
Market Conditions
NOI Build-Up for 1,824 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
$31.1K $17.04/SF
− Vacancy
−$2.0K −$1.11/SF
EGI
$29.1K $15.93/SF
− OpEx
−$8.7K −$4.78/SF
NOI
$20.3K $11.15/SF
Area
ZIP 44111
Vacancy
6.50%
Lease Rate
$17.04 /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%
$406,840
Cap Rate 7%
$290,600
Cap Rate 9%
$226,022
Alternative Uses
Best Use
Multifamily LT 5
$290.6K
$254.3K – $339.0K
NOI $20,342 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$230.9K
$202.1K – $269.4K
NOI $16,165 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$343.4K
$300.5K – $400.7K
NOI $24,041 @ 7.0% cap · market cap 10.68%
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
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include flexible room layouts and separate basement laundry hookups.
Where is this duplex located?
The property is located at 13521 West Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,824 square feet of property size; Each unit includes 2 bedrooms, dining room, family room, kitchen, and enclosed porch; 0.1148‑acre lot with rear off‑street parking
