Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleveland Duplex: Investment Opportunity Title is generated by Realmo AI

    14225-14227 Rainbow Avenue, Cleveland, OH 44111

    View on Map
    Claim this Listing
    For Sale
    $230,000

    MULTI_FAMILY - Cleveland, OH

    Property size:
    2,720 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $84/SF
    Added:
    May 21, 2026
    Days on Market:
    11
    Last Refresh:
    May 31 at 7:06 pm

    Property Features for 14225-14227 Rainbow Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Basement, Bathroom 2
    Parking features
    Carport
    Standard status
    Active
    APN
    024-35-091
    Size
    2,720 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    12 TRISPKHO 0191 ALL
    Tax Annual Amount
    2047

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1945
    Floors in Building
    2
    Roof type
    Shingle, Asphalt

    We can help!

    Listing Contact
    Michael A Roberts

    Listing agent Michael A Roberts License #2016002011

    Listing office Keller Williams Living 32875 Solon Road, Suite 100, Solon, OH

    Listing date May 21, 2026

    MLS# 5212158 Listing URL

    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.

    HighLights

    • Immediate cash flow with $2,215 total monthly rental income.
    • Duplex features two 2‑bedroom, 1‑bath units.
    • Individually parceled units offer flexibility to sell together or separately.
    • One unit has a CMHA tenant in place, providing reliable income.
    • Convenient location near shopping, dining, parks, and major highways.
    • Carport parking.

    Overview

    Located in Cleveland, this side-by-side duplex at 14225-14227 Rainbow Avenue presents an investment opportunity. The property features two units, each with 2 bedrooms and 1 bath. One unit is currently occupied by a CMHA tenant, generating a monthly income of $965, while the other unit is rented for $1,250 per month. The property's layout and location offer potential as a long-term rental, house hack, or portfolio addition. The total property size is 2720 square feet, situated on a lot of approximately 0.0792 acres. Each side of the duplex is individually parceled, providing the option to sell the properties together or separately in the future. The property is located near shopping, dining, parks, and major highways, offering convenient access to Cleveland amenities. This duplex is suited for investors looking to expand their rental portfolio or enter the real estate market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.793727
    Latitude
    41.459359

    Nearby Similar for Sale

    • $450,000
      4,239 SF

      Turnkey Bar in Slavic Village

      Well-appointed bar with banquet hall and parking.
      3614 E 65th Street, Cleveland, OH 44105
      View Details
    • $299,900
      4,000 SF

      Turnkey Retail Building in Cleveland

      Income-producing retail building with barbershop and salon in Old Brooklyn.
      4491-4493 Pearl Road, Cleveland, OH 44109
      View Details
    • $800,000
      16,560 SF

      Asian Town Mixed-Use Assemblage

      Two buildings, parking lot, and vacant land in Cleveland.
      3610-3620 Superior Avenue, Cleveland, OH 44114
      View Details
    • $750,000
      4,921 SF

      Little Italy Investment Property

      Rare 6-unit property near Little Italy attractions.
      1978 E 126th, Cleveland, OH 44106
      View Details
    • $399,000
      4,098 SF

      Updated Multifamily Investment Opportunity

      Renovated 4-unit property near Downtown Cleveland with strong rental appeal.
      7609 Superior Avenue, Cleveland, OH 44103
      View Details
    • $475,000
      6,000 SF

      Daycare Facility in Cleveland, OH

      Commercial building with established daycare business for sale.
      620 E 185th Street, Cleveland, OH 44119
      View Details
    • $349,900
      2,775 SF

      Clifton Blvd Duplex Near Lake Erie

      Updated duplex near Edgewater Park with strong rental demand.
      10612 Clifton Boulevard, Cleveland, OH 44102
      View Details
    • $275,000
      2,000 SF

      Retail Store with Brick Front

      2,000 SF retail store with modern amenities and parking.
      4873 Broadview Road, Cleveland, OH 44109
      View Details
    • $349,900
      1,500 SF

      Versatile Commercial Space, Cleveland

      Flexible commercial property with garage, storage, and office space.
      12703 Triskett Road, Cleveland, OH 44111
      View Details
    • $219,900
      2,798 SF

      Turnkey Triplex in South Collinwood

      Turnkey triplex with immediate cash flow and long-term potential.
      1051 E 171st Street, Cleveland, OH 44119
      View Details
    • $499,000
      10,000 SF

      Turnkey Entertainment Venue Opportunity

      Over 10,000 sq ft flexible space for nightlife, dining.
      3560 E 93rd Street, Cleveland, OH 44105
      View Details
    • $290,000
      2,904 SF

      Spacious Cleveland Duplex Investment Opportunity

      Six-bedroom duplex with updated features and excellent rental potential.
      2016 W 85th Street, Cleveland, OH 44102
      View Details

    FAQs

    What type of property is this?
    Duplex - Side-by-side duplex with income potential near Cleveland amenities.
    Where is this duplex located?
    The property is located at 14225-14227 Rainbow Avenue Cleveland, OH.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Immediate cash flow with $2,215 total monthly rental income.; Duplex features two 2‑bedroom, 1‑bath units.; Individually parceled units offer flexibility to sell together or separately.
    (330) 607-8592
    We can help!
    Listing Contact
    Michael A Roberts
    Real Estate License ID: 2016002011
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    14225-14227 Rainbow Avenue, Cleveland, OH 44111
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!