Four-Unit Brick
New
For Sale
$246,000
14104 Aspinwall Avenue, Cleveland, OH 44110
ResidentialIncome, Cleveland, OH
Property Size1,679 SF
Lot Size0.11 Acres
Price / SF$146.52
Days on Market1
Property Features for 14104 Aspinwall Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 8, Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 5, Basement
Parking features
Driveway
Subdivision
Harrist E Taylors Allotment
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
Aspinwall Avenue & E 141th Street
Standard status
Active
APN
115-01-006
Size
1,679 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1 ASPINWAL S/L 6 EP 0005 WP
Tax Annual Amount
2876
Legal Description
1 ASPINWAL S/L 6 EP 0005 WP
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Building materials
Brick
Roof type
Flat
Listing Agency:
EXP Realty, LLC.
(866) 212-4991
Listed By:
Noureddine Chehade · License #2021006808
(216) 856-1760
Added: Sep 18
Last Checked: Sep 18 at 10:06AM
MLS# 5243587
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.
Located at 14104 Aspinwall Avenue in Cleveland, this four-unit residential property provides a total of 1,679 square feet across units configured with two bedrooms and one full bathroom each. The brick building was constructed in 1920 and includes hardwood flooring, forced-air heating, central air, a flat roof, and a driveway. Public water and public sewer serve the property.
One unit is currently occupied, while the other three units are available for lease-up. The property has received approximately $45,000 in improvements, including a newer roof installed approximately one year ago. Regular paint updates have been completed during tenant turnovers, and the building includes a basement. The 0.1065-acre parcel is located in Cleveland, Ohio 44110.
One unit is currently occupied, while the other three units are available for lease-up. The property has received approximately $45,000 in improvements, including a newer roof installed approximately one year ago. Regular paint updates have been completed during tenant turnovers, and the building includes a basement. The 0.1065-acre parcel is located in Cleveland, Ohio 44110.
Key Highlights
- Four units, each with 2 bedrooms and 1 full bath
- 1,679 square feet on a 0.1065‑acre parcel
- One unit occupied; three units available for lease‑up
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
$20,069
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
8.16%
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%
$401,380
$401.4K
Cap Rate 7%
$286,700
$286.7K
Cap Rate 9%
$222,989
$223.0K
Market Conditions
NOI Build-Up for 1,679 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
$30.0K $17.88/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$28.7K $17.08/SF
− OpEx
−$8.6K −$5.12/SF
NOI
$20.1K $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%
$401,380
Cap Rate 7%
$286,700
Cap Rate 9%
$222,989
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.9K – $334.5K
NOI $20,069 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$266.0K
$232.7K – $310.3K
NOI $18,617 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$409.7K
$358.5K – $478.0K
NOI $28,681 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 44110, OH
17,617
Population
11,140
Households
1.6
Avg Household Size
40
Median Age
13%
College-Educated
84%
High-School Grad
4.1 sq mi
ZIP Area
4,297
Density / Sq Mi
$30,973
Median Household Income
$28,263
Median Earnings
$821
Median Rent
$62,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer two-bedroom, one-bath layouts with hardwood floors and central air.
Where is this quadplex located?
The property is located at 14104 Aspinwall Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $246,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 full bath; 1,679 square feet on a 0.1065‑acre parcel; One unit occupied; three units available for lease‑up
