Side-by-Side Duplex with
1721 Urban Cir S, Lorain, OH 44053
For Sale
$235,000
Both homes are occupied by tenants who want to stay, and each includes a private garage.
Property Size2,140 SF
Price / SF$109.81
Days on Market20
Property Features for 1721 Urban Cir S
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Listing Agency:
Russell Real Estate Services
(440) 282-4444
Listed By:
Nikki Harsa · License #2005014597
(440) 240-3444
Source:
Exprealty
Added: Oct 19
Changed: Nov 7
Last Checked: Nov 6 at 2:29PM
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 Russell Real Estate Services
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Investment Insights
Based on property information with market context.
The side-by-side duplex at 1721 Urban Cir S in Lorain contains two mirrored residences, each measuring 1,062 square feet. Each home has two bedrooms, one full bathroom, a half bath, and an eat-in kitchen. Both units have new entry doors; the windows in 1723 are mostly newer. A private garage is included with each residence.
The property is within the Amherst Exempted Village School District. Both homes are currently occupied by long-term tenants who would like to remain.
The property is within the Amherst Exempted Village School District. Both homes are currently occupied by long-term tenants who would like to remain.
Key Highlights
- Two mirrored units, each with 2 bedrooms and 1.5 bathrooms
- Each residence measures 1,062 square feet
- Private garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,597
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,940
$391.9K
Cap Rate 7%
$279,957
$280.0K
Cap Rate 9%
$217,744
$217.7K
Market Conditions
NOI Build-Up for 2,140 SF
Gross rent
$29.5K $13.80/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$28.0K $13.08/SF
− OpEx
−$8.4K −$3.92/SF
NOI
$19.6K $9.16/SF
Area
Lorain County, OH
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,940
Cap Rate 7%
$279,957
Cap Rate 9%
$217,744
Alternative Uses
Best Use
Multifamily LT 5
$280.0K
$245.0K – $326.6K
NOI $19,597 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$261.5K
$228.8K – $305.1K
NOI $18,305 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$539.3K
$471.9K – $629.2K
NOI $37,750 @ 7.0% cap · market cap 16.06%
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
595
Businesses Nearby
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Business Placement
Demographics for 44053, OH
20,735
Population
9,529
Households
2.2
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
10.8 sq mi
ZIP Area
1,920
Density / Sq Mi
$65,332
Median Household Income
$43,654
Median Earnings
$827
Median Rent
$189,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lorain, OH
Properties on Market for Duplexes in Lorain
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both homes are occupied by tenants who want to stay, and each includes a private garage.
Where is this duplex located?
The property is located at 1721 Urban Cir S Lorain, OH.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two mirrored units, each with 2 bedrooms and 1.5 bathrooms; Each residence measures 1,062 square feet; Private garage for each unit
