Side-by-Side Ranch
For Sale
$315,000
14185 Niagara Dr, Strongsville, OH
Two single-level units offer central air, garage access, backyard space, and separate outdoor living on one residential income property.
Property Size1,769 SF
Price / SF$178.07
Days on Market13
Property Features for 14185 Niagara Dr
General Information
Standard status
Active
Size
1,769 SF
Total Parking Spaces
3
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
needs some work
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,140
Amenities
central air
back deck
Building Details
Buildings
1
Construction
ranch
Tenancy
Single
Listing Agency:
EXP Realty, LLC.
(216) 789-6736
Listed By:
Jack Krusinski · License #2021004622
(216) 789-6736
Source:
Exprealty
Added: Aug 19
Changed: Aug 30
Last Checked: Aug 30 at 7:48PM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
This 1769 SF side-by-side ranch duplex provides two separate residences with a practical single-level layout. Each unit contains 2 bedrooms, 1 full bath, and a formal living room. Central air serves both units, while the property also includes a 3-car garage and a large backyard. The left residence adds a private back deck. Some work is needed, offering an opportunity to improve the existing improvements over time.
The right unit is vacant, while the left unit is occupied under a lease extending through 3/31/2027. The property is located at 14185 Niagara Dr in Strongsville, OH, approximately 5 minutes from SouthPark Mall and under 10 minutes from the Cleveland Metroparks.
The right unit is vacant, while the left unit is occupied under a lease extending through 3/31/2027. The property is located at 14185 Niagara Dr in Strongsville, OH, approximately 5 minutes from SouthPark Mall and under 10 minutes from the Cleveland Metroparks.
Key Highlights
- Side‑by‑side ranch duplex totaling 1769 SF
- Each unit includes 2 bedrooms, 1 full bath, and a formal living room
- 3‑car garage, central air, and a large backyard
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
$18,757
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
5.95%
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%
$375,140
$375.1K
Cap Rate 7%
$267,957
$268.0K
Cap Rate 9%
$208,411
$208.4K
Market Conditions
NOI Build-Up for 1,769 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
$28.7K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$26.8K $15.15/SF
− OpEx
−$8.0K −$4.54/SF
NOI
$18.8K $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 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%
$375,140
Cap Rate 7%
$267,957
Cap Rate 9%
$208,411
Alternative Uses
Best Use
Multifamily LT 5
$268.0K
$234.5K – $312.6K
NOI $18,757 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$249.8K
$218.6K – $291.5K
NOI $17,487 @ 7.0% cap · market cap 5.55%
Theoretical Best
Warehouse
$1.42M
$1.24M – $1.65M
NOI $99,218 @ 7.0% cap · market cap 31.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
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 single-level units offer central air, garage access, backyard space, and separate outdoor living on one residential income property.
Where is this duplex located?
The property is located at 14185 Niagara Dr Strongsville, 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: Side‑by‑side ranch duplex totaling 1769 SF; Each unit includes 2 bedrooms, 1 full bath, and a formal living room; 3‑car garage, central air, and a large backyard
