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Building Details

Year Built 1908

Buildings 1

Listing Agency: Keller Williams Greater Metropolitan

Listed By: Lori Dague · License #2018002168 Show Phone

Source: Thelindsayteam

Added: May 30 Changed: Oct 5 Last Checked: Oct 15 at 4:27AM

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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 Keller Williams Greater Metropolitan

Investment Insights

Based on property information with market context.

This 2,885-square-foot duplex contains two residential units with distinct layouts. The lower residence includes three bedrooms, one bathroom, a living room, and a formal dining room. The upper residence offers two bedrooms, one bathroom, a living room, and a formal dining room, creating a practical configuration for separate occupants or an owner-occupant arrangement.

A substantial parking pad at the rear provides off-street parking for both units. The property is situated in Lakewood with access to nearby shops and restaurants, along with connections to downtown Cleveland, Edgewater Park, and major highways.

Key Highlights

• 2,885‑square‑foot duplex with 2 residential units
• Lower unit includes 3 bedrooms and 1 bathroom
• Upper unit includes 2 bedrooms and 1 bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,519

Cap Rate

8.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$570,380 $570.4K

Cap Rate 7%

$407,414 $407.4K

Cap Rate 9%

$316,878 $316.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,885 SF

Gross rent

$55.0K $19.08/SF

− Vacancy

−$3.2K −$1.11/SF

EGI

$51.9K $17.97/SF

− OpEx

−$23.3K −$8.09/SF

NOI

$28.5K $9.89/SF

Area

Cuyahoga County, OH

Vacancy

5.80%

Lease Rate

$19.08 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$570,380

Cap Rate 7%

$407,414

Cap Rate 9%

$316,878

Alternative Uses

Best Use

Multifamily LT 5

$437.0K

$382.4K – $509.8K (±1% cap)

NOI $30,589 @ 7.0% cap · market cap 9.27%

Second Best

Apartment 5plus

$407.4K

$356.5K – $475.3K (±1% cap)

NOI $28,519 @ 7.0% cap · market cap 8.64%

Theoretical Best

Warehouse

$2.31M

$2.02M – $2.70M (±1% cap)

NOI $161,811 @ 7.0% cap · market cap 49.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Carpet & Flooring Store Storage Facility Home Appliance Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,355

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-level duplex with separate living spaces, formal dining areas, and dedicated off-street parking.

Where is this duplex located?

The property is located at 1363 Cranford Ave Lakewood, OH.

What is the asking price?

The asking price for this property is $330,000.

What are key features of this property?

This property features: 2,885‑square‑foot duplex with 2 residential units; Lower unit includes 3 bedrooms and 1 bathroom; Upper unit includes 2 bedrooms and 1 bathroom