Updated Two-Unit
For Sale
$350,000
17476 Shaw Ave, Lakewood, OH
Well-maintained duplex with separate living spaces, private porches, shared laundry and storage, a fenced yard, and detached garage.
Property Size1,962 SF
Price / SF$178.39
Days on Market19
Property Features for 17476 Shaw Ave
General Information
Standard status
Active
Size
1,962 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,247
Amenities
covered porch
decorative fireplace
formal dining room with built-in window bench and cabinetry
ample cabinet space
all appliances
partially fenced yard
laundry
storage
Listing Agency:
EXP Realty, LLC.
(216) 731-9500
Listed By:
Joe Vaccaro
(216) 731-9500
Source:
Exprealty
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 30 at 2:54AM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
This 1,962-square-foot duplex contains two residential units, each with two bedrooms, a full bathroom, a living room, a formal dining area, and a kitchen equipped with appliances. Covered porches, decorative fireplaces, built-in dining-area cabinetry, and abundant natural light add character to both units. Laundry and storage are located on the lower level.
Exterior features include a partially fenced yard, landscaping completed in 2024, and a detached two-car garage. Recent improvements include an upper-unit furnace installed in 2026, an upper-unit water heater, lower-unit kitchen appliances, a lower-unit portable air conditioner installed in 2025, chimney reconstruction, a lower-unit porch and decking, and additional updates completed from 2020 through 2023.
The property is located at 17476 Shaw Ave in Lakewood, Ohio, near restaurants, shops, Lakewood Park, freeway access, and downtown commuting routes.
Exterior features include a partially fenced yard, landscaping completed in 2024, and a detached two-car garage. Recent improvements include an upper-unit furnace installed in 2026, an upper-unit water heater, lower-unit kitchen appliances, a lower-unit portable air conditioner installed in 2025, chimney reconstruction, a lower-unit porch and decking, and additional updates completed from 2020 through 2023.
The property is located at 17476 Shaw Ave in Lakewood, Ohio, near restaurants, shops, Lakewood Park, freeway access, and downtown commuting routes.
Key Highlights
- 1,962‑square‑foot duplex with two 2‑bedroom units
- Each unit includes a full bath, living room, formal dining area, and appliance‑equipped kitchen
- Detached two‑car garage plus partially fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,803
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,060
$416.1K
Cap Rate 7%
$297,186
$297.2K
Cap Rate 9%
$231,144
$231.1K
Market Conditions
NOI Build-Up for 1,962 SF
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.
Gross rent
$31.8K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$29.7K $15.15/SF
− OpEx
−$8.9K −$4.54/SF
NOI
$20.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,060
Cap Rate 7%
$297,186
Cap Rate 9%
$231,144
Alternative Uses
Best Use
Multifamily LT 5
$297.2K
$260.0K – $346.7K
NOI $20,803 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$277.1K
$242.4K – $323.3K
NOI $19,395 @ 7.0% cap · market cap 5.54%
Theoretical Best
Warehouse
$1.57M
$1.38M – $1.83M
NOI $110,043 @ 7.0% cap · market cap 31.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate living spaces, private porches, shared laundry and storage, a fenced yard, and detached garage.
Where is this duplex located?
The property is located at 17476 Shaw Ave Lakewood, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,962‑square‑foot duplex with two 2‑bedroom units; Each unit includes a full bath, living room, formal dining area, and appliance‑equipped kitchen; Detached two‑car garage plus partially fenced yard
