Renovated Duplex with Two-Car
New
For Sale
$365,000
1604 - 1606 Cordova Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,240 SF
Lot Size0.10 Acres
Price / SF$162.95
Days on Market3
Property Features for 1604 - 1606 Cordova Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bathroom 2, Bedroom 1, Bedroom 4, Laundry Room, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 2
Parking features
Driveway, Garage
Interior features
BuiltInFeatures
Appliances
Dryer, Disposal, Microwave, Range, Refrigerator, Washer
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Between Madison Ave and Detroit
Standard status
Active
APN
313-21-058
Size
2,240 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
23 M&G#3 0252 ALL
Tax Annual Amount
6258
Legal Description
23 M&G#3 0252 ALL
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Steam, Forced Air
Water source
Public
Amenities
front porch
laundry in basement
Building Details
Year built
1916
Floors in Building
3
Building materials
AluminumSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Results · RE/MAX International
(440) 354-3334
Listed By:
Sara B DiFranco · License #2004003836
(440) 478-7034
Added: Oct 6
Last Checked: Oct 8 at 5:06AM
MLS# 5250885
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.
This 2,240-square-foot duplex, built in 1916, contains two remodeled residences. Updated kitchens include microwaves, ranges, refrigerators, and disposals. Original details such as natural woodwork and refinished wood floors remain, alongside newer windows and refreshed finishes. The lower residence has a spacious layout; upstairs are two bedrooms and a finished third-floor bedroom with its own heating unit. Laundry is in the basement, and the property also includes a front porch and a two-car garage.
The property sits on a 0.1-acre lot in Lakewood, Ohio. Public water and sewer serve the site.
The property sits on a 0.1-acre lot in Lakewood, Ohio. Public water and sewer serve the site.
Key Highlights
- Both units have been remodeled, with updated kitchens and newer appliances
- 2,240‑square‑foot duplex on a 0.1‑acre lot
- Upper unit includes two bedrooms and a finished third‑floor bedroom with its own heating unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,750
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,000
$475.0K
Cap Rate 7%
$339,286
$339.3K
Cap Rate 9%
$263,889
$263.9K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$36.3K $16.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$33.9K $15.15/SF
− OpEx
−$10.2K −$4.54/SF
NOI
$23.8K $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%
$475,000
Cap Rate 7%
$339,286
Cap Rate 9%
$263,889
Alternative Uses
Best Use
Multifamily LT 5
$339.3K
$296.9K – $395.8K
NOI $23,750 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$316.3K
$276.8K – $369.1K
NOI $22,143 @ 7.0% cap · market cap 6.07%
Theoretical Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,635 @ 7.0% cap · market cap 34.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Explore this area
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have renovated interiors, updated kitchens, and newer appliances.
Where is this duplex located?
The property is located at 1604 - 1606 Cordova Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Both units have been remodeled, with updated kitchens and newer appliances; 2,240‑square‑foot duplex on a 0.1‑acre lot; Upper unit includes two bedrooms and a finished third‑floor bedroom with its own heating unit
