Duplex with Detached
For Sale
$380,000
14969 Delaware Ave, Lakewood, OH 44107
Two two-bedroom units feature hardwood floors, built-in cabinetry, and full-width porches.
Property Size2,172 SF
Price / SF$174.95
Days on Market12
Property Features for 14969 Delaware Ave
General Information
Standard status
Active
Size
2,172 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,797
Amenities
hardwood floors
high ceilings
original built-in cabinetry
full-width front porches
Building Details
Buildings
1
Listing Agency:
Keller Williams Greater Metropolitan
(216) 839-5500
Listed By:
Jared Lee · License #2021006821
(330) 621-8918
Source:
Exprealty
Added: Oct 13
Changed: Oct 23
Last Checked: Oct 23 at 3:31PM
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 Keller Williams Greater Metropolitan
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Investment Insights
Based on property information with market context.
This 2,172-square-foot duplex contains two units, each with two bedrooms, one bathroom, living and dining areas, hardwood floors, high ceilings, and original built-in cabinetry. Both units have full-width front porches, and the property includes a detached two-car garage. The second-floor apartment is vacant; the first-floor occupant is expected to leave. The upper unit also connects to a partially finished attic. The garage was built in 2021, electrical panels were replaced in 2021, the exterior was painted in 2019, and the architectural shingle roof dates to 2013.
The property is at 14969 Delaware Ave in Lakewood, Ohio, near shopping, restaurants, parks, and neighborhood amenities.
The property is at 14969 Delaware Ave in Lakewood, Ohio, near shopping, restaurants, parks, and neighborhood amenities.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 2,172 square feet with hardwood floors and original built‑in cabinetry
- Detached two‑car garage constructed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,029
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,580
$460.6K
Cap Rate 7%
$328,986
$329.0K
Cap Rate 9%
$255,878
$255.9K
Market Conditions
NOI Build-Up for 2,172 SF
Gross rent
$35.2K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.9K $15.15/SF
− OpEx
−$9.9K −$4.54/SF
NOI
$23.0K $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%
$460,580
Cap Rate 7%
$328,986
Cap Rate 9%
$255,878
Alternative Uses
Best Use
Multifamily LT 5
$329.0K
$287.9K – $383.8K
NOI $23,029 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$306.7K
$268.4K – $357.9K
NOI $21,471 @ 7.0% cap · market cap 5.65%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,821 @ 7.0% cap · market cap 32.06%
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
674
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units feature hardwood floors, built-in cabinetry, and full-width porches.
Where is this duplex located?
The property is located at 14969 Delaware Ave Lakewood, OH.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 2,172 square feet with hardwood floors and original built‑in cabinetry; Detached two‑car garage constructed in 2021
