Updated Two-Unit
For Sale
$369,000
14537 Bayes Ave, Lakewood, OH 44107
Two residential units offer separate laundry, central air, and private outdoor spaces.
Property Size2,428 SF
Price / SF$151.98
Days on Market50
Property Features for 14537 Bayes Ave
General Information
Standard status
Active
Size
2,428 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,134
Amenities
enclosed front porch
open-air front porch
separate laundry
central air conditioning
balcony
garage
Listing Agency:
Russell Real Estate Services
(440) 327-6511
Listed By:
Alessandra Johnson · License #2025003668
(239) 243-6621
Source:
Exprealty
Added: Sep 14
Changed: Oct 27
Last Checked: Nov 1 at 7:10AM
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 Russell Real Estate Services
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Investment Insights
Based on property information with market context.
This 2428 SF duplex at 14537 Bayes Ave includes two residential units, each with 2 bedrooms and 1 full bath. Both units feature separate laundry, individual central air conditioning, newer mechanicals, and wood detailing. The upper residence has a newly remodeled bathroom and enclosed front porch, while the lower residence includes an open-air front porch. Each level also has a balcony overlooking the yard.
A newly built garage with electric service adds storage and functional utility. The property is located in Lakewood, OH, and offers a two-unit layout suitable for an owner-occupant or investor seeking residential income property.
A newly built garage with electric service adds storage and functional utility. The property is located in Lakewood, OH, and offers a two-unit layout suitable for an owner-occupant or investor seeking residential income property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each unit
- 2428 SF property with wood detailing throughout
- Separate laundry and individual central air conditioning for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,744
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,880
$514.9K
Cap Rate 7%
$367,771
$367.8K
Cap Rate 9%
$286,044
$286.0K
Market Conditions
NOI Build-Up for 2,428 SF
Gross rent
$39.3K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$36.8K $15.15/SF
− OpEx
−$11.0K −$4.54/SF
NOI
$25.7K $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 Rate 5%
$514,880
Cap Rate 7%
$367,771
Cap Rate 9%
$286,044
Alternative Uses
Best Use
Multifamily LT 5
$367.8K
$321.8K – $429.1K
NOI $25,744 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$342.9K
$300.0K – $400.0K
NOI $24,002 @ 7.0% cap · market cap 6.50%
Theoretical Best
Warehouse
$1.95M
$1.70M – $2.27M
NOI $136,179 @ 7.0% cap · market cap 36.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate laundry, central air, and private outdoor spaces.
Where is this duplex located?
The property is located at 14537 Bayes Ave Lakewood, OH.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each unit; 2428 SF property with wood detailing throughout; Separate laundry and individual central air conditioning for both units
