Duplex with Three-Car
For Sale
$429,900
Pending
1497 Prospect Avenue, Rocky River, OH 44116
ResidentialIncome, Rocky River, OH
Property Size2,802 SF
Lot Size0.13 Acres
Days on Market49
Property Features for 1497 Prospect Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4
Parking features
Garage
Interior features
BuiltInFeatures, NaturalWoodwork
Appliances
Dryer, Dishwasher, Range, Refrigerator, Washer
Elementary school district
Rocky River CSD - 1826
Middle school district
Rocky River CSD - 1826
High school district
Rocky River CSD - 1826
Directions
S off Detroit at Prospect
Standard status
Pending
APN
301-23-035
Size
2,802 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6616
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air
dishwasher
washer/dryer
Building Details
Year built
1923
Floors in Building
2
Building materials
Brick
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
Jane C Vitou · License #448578
(440) 725-1434
Added: Sep 16
Changed: Oct 23
Last Checked: Nov 3 at 3:06AM
MLS# 5244667
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1923, this brick duplex contains 2,802 square feet on a 0.127-acre lot. The interior includes large rooms, original hardwood flooring, built-in cabinetry, and natural woodwork. Central air, forced-air natural gas heat, and public water and sewer serve the property. Each unit has its own washer and dryer, while the second-floor residence also includes a dishwasher. A basement and three-car garage provide additional utility.
The property is located at 1497 Prospect Avenue in Rocky River, within walking distance of downtown shopping and dining. The site also offers proximity to the area's schools. A fiberglass and asphalt roof completes the existing improvements.
The property is located at 1497 Prospect Avenue in Rocky River, within walking distance of downtown shopping and dining. The site also offers proximity to the area's schools. A fiberglass and asphalt roof completes the existing improvements.
Key Highlights
- 2,802‑square‑foot duplex on a 0.127‑acre lot
- Three‑car garage plus basement storage
- Brick construction dating to 1923
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,709
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,180
$594.2K
Cap Rate 7%
$424,414
$424.4K
Cap Rate 9%
$330,100
$330.1K
Market Conditions
NOI Build-Up for 2,802 SF
Gross rent
$45.4K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$42.4K $15.15/SF
− OpEx
−$12.7K −$4.54/SF
NOI
$29.7K $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%
$594,180
Cap Rate 7%
$424,414
Cap Rate 9%
$330,100
Alternative Uses
Best Use
Multifamily LT 5
$424.4K
$371.4K – $495.2K
NOI $29,709 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$395.7K
$346.2K – $461.7K
NOI $27,699 @ 7.0% cap · market cap 6.44%
Theoretical Best
Warehouse
$2.25M
$1.96M – $2.62M
NOI $157,156 @ 7.0% cap · market cap 36.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 44116, OH
21,821
Population
10,484
Households
2.1
Avg Household Size
45
Median Age
64%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
4,453
Density / Sq Mi
$93,532
Median Household Income
$60,738
Median Earnings
$1,146
Median Rent
$327,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit brick property with hardwood floors, central air, in-unit laundry, and access to downtown shopping and dining.
Where is this duplex located?
The property is located at 1497 Prospect Avenue Rocky River, OH.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 2,802‑square‑foot duplex on a 0.127‑acre lot; Three‑car garage plus basement storage; Brick construction dating to 1923
