1561 Cohassett Avenue Lakewood, OH 44107
MULTI_FAMILY - Lakewood, OH
Property Features for 1561 Cohassett Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 4, Laundry Room, Bedroom 1
- Parking features
- Garage, On Street, Driveway
- Interior features
- CeilingFans
- Fencing
- Privacy
- Appliances
- Dryer, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 315-08-027
- Size
- 2,184 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6699
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1923
- Floors in Building
- 3
- Building materials
- AluminumSiding, VinylSiding
- Roof type
- Asphalt, Fiberglass, Shingle
Listing agent Shoshana Socher License #2006000982 (216) 255-7377
Listing office Keller Williams Greater Metropolitan 29225 Chagrin Boulevard #105, Cleveland, OH (216) 839-5500
Listing date Jul 14, 2026
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.
Investment Insights
Based on property information with market context.
The second-floor unit will be delivered vacant, while the first-floor unit is currently tenant occupied on a month-to-month basis. The home features a covered front porch and sits on an established, tree-lined street in Lakewood, with Lake Erie minutes away and a short commute to downtown Cleveland.
Several major items have been addressed, including a full roof tear-off in 2018, interior and exterior waterproofing with a moisture control system in 2019, 32 replacement windows with updated insulation and siding in 2010, and two newer hot water tanks installed in 2024 and 2025.
Key Highlights
- 1923 colonial duplex with matched 1,092 SF floor plans up and down; 2,184 SF total, 4 bedrooms and 2 full baths
- Second‑floor unit to be delivered vacant; first‑floor unit is tenant occupied month‑to‑month
- Detached 3‑car garage with 840 sq ft, partially insulated and wired, with interior/exterior outlets and a dedicated workbench
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.4k | $16.20 |
| − Vacancy | −$2.3k | −$1.05 |
| EGI | $33.1k | $15.15 |
| − OpEx | −$9.9k | −$4.54 |
| NOI | $23.2k | $10.60 |
