Two-Unit Duplex with
For Sale
$285,000
14602 Mitchell Ave, Cleveland, OH 44111
Corner duplex with refreshed interiors, central air, and two distinct living spaces.
Property Size2,304 SF
Price / SF$123.70
Days on Market53
Property Features for 14602 Mitchell Ave
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
central air conditioning
detached 2 car garage
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Lucien Realty
Listed By:
Regina L Thompson
(440) 821-7426
Source:
Theacclaimedrealty
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 7 at 5:15PM
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 Berkshire Hathaway HomeServices Lucien Realty
Investment Insights
Based on property information with market context.
Positioned on a corner lot in Cleveland, this 2,304-square-foot duplex contains two separate residential units. Each unit includes two bedrooms and one full bathroom, creating a straightforward layout for multiple household arrangements. Central air conditioning, vinyl windows, and vinyl siding contribute to the property’s established functionality.
Recent improvements include a new roof and fresh interior paint. The property also includes a detached two-car garage and driveway parking, along with additional outdoor space associated with its corner position. Shopping, dining, transportation, parks, and major roadways are identified as accessible from the property, which is located at 14602 Mitchell Ave.
Recent improvements include a new roof and fresh interior paint. The property also includes a detached two-car garage and driveway parking, along with additional outdoor space associated with its corner position. Shopping, dining, transportation, parks, and major roadways are identified as accessible from the property, which is located at 14602 Mitchell Ave.
Key Highlights
- 2,304 SF duplex with two separate living units
- Each unit includes 2 bedrooms and 1 full bath
- New roof and fresh interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,696
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,920
$513.9K
Cap Rate 7%
$367,086
$367.1K
Cap Rate 9%
$285,511
$285.5K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$39.3K $17.04/SF
− Vacancy
−$2.6K −$1.11/SF
EGI
$36.7K $15.93/SF
− OpEx
−$11.0K −$4.78/SF
NOI
$25.7K $11.15/SF
Area
ZIP 44111
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,920
Cap Rate 7%
$367,086
Cap Rate 9%
$285,511
Alternative Uses
Best Use
Multifamily LT 5
$367.1K
$321.2K – $428.3K
NOI $25,696 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$291.7K
$255.2K – $340.3K
NOI $20,419 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$433.8K
$379.6K – $506.1K
NOI $30,367 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
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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?
Duplex - Corner duplex with refreshed interiors, central air, and two distinct living spaces.
Where is this duplex located?
The property is located at 14602 Mitchell Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,304 SF duplex with two separate living units; Each unit includes 2 bedrooms and 1 full bath; New roof and fresh interior paint
