Updated Duplex with Finished
For Sale
$274,900
Pending
1901 Coltman Road, Cleveland, OH 44106
ResidentialIncome, Cleveland, OH
Property Size1,540 SF
Lot Size0.11 Acres
Days on Market57
Property Features for 1901 Coltman Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Basement, Bathroom 2
Parking features
Off Street, Driveway
Subdivision
T S Knights Allotment
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
South off Euclid Ave.
Standard status
Pending
APN
120-31-020
Size
1,540 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
396 KNIGHT 0054 ALL
Tax Annual Amount
5150
Legal Description
396 KNIGHT 0054 ALL
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Hot Water(Heating), Steam
Cooling system
Wall Unit(s), Multi Units
Water source
Public
Amenities
rear deck
in-unit laundry
front porch
finished attic
Building Details
Year built
1900
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Above & Beyond · RE/MAX International
(440) 835-7200
Listed By:
Steve Junker · License #2016000959
(440) 537-0567
Added: Jul 6
Changed: Aug 26
Last Checked: Aug 31 at 3:06AM
MLS# 5222807
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 1,540-square-foot duplex, built in 1900, contains two residential units with one bedroom and one full bathroom per unit. Both apartments feature open living and kitchen areas, bamboo flooring, exposed brick accents, updated finishes, and private in-unit laundry. The first-floor kitchen includes an eat-in area, while the upper unit adds stainless steel appliances and a farmhouse sink. A finished attic provides additional flexible space, and both units have front porches.
The property occupies 0.1068 acres in Cleveland’s Little Italy neighborhood, with access to nearby hospitals, universities, dining, and shopping. Exterior improvements include vinyl siding, a rear deck, and off-street parking via driveway. Public water and public sewer serve the property, with hot water, radiant, and steam heating plus wall-unit and multiple-unit cooling.
The property occupies 0.1068 acres in Cleveland’s Little Italy neighborhood, with access to nearby hospitals, universities, dining, and shopping. Exterior improvements include vinyl siding, a rear deck, and off-street parking via driveway. Public water and public sewer serve the property, with hot water, radiant, and steam heating plus wall-unit and multiple-unit cooling.
Key Highlights
- 1,540‑square‑foot duplex with two one‑bedroom, one‑bathroom units
- 0.1068‑acre lot with off‑street parking and driveway access
- Finished attic offers additional flexible interior space
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
$18,407
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
6.70%
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%
$368,140
$368.1K
Cap Rate 7%
$262,957
$263.0K
Cap Rate 9%
$204,522
$204.5K
Market Conditions
NOI Build-Up for 1,540 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
$27.5K $17.88/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$26.3K $17.08/SF
− OpEx
−$7.9K −$5.12/SF
NOI
$18.4K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /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%
$368,140
Cap Rate 7%
$262,957
Cap Rate 9%
$204,522
Alternative Uses
Best Use
Multifamily LT 5
$263.0K
$230.1K – $306.8K
NOI $18,407 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$243.9K
$213.5K – $284.6K
NOI $17,076 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$375.8K
$328.8K – $438.5K
NOI $26,307 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 44106, OH
26,608
Population
13,287
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
6,188
Density / Sq Mi
$42,869
Median Household Income
$27,056
Median Earnings
$1,024
Median Rent
$241,600
Median Home Value
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 - Two-unit property with separate laundry, off-street parking, and outdoor gathering space in Cleveland’s Little Italy neighborhood.
Where is this duplex located?
The property is located at 1901 Coltman Road Cleveland, OH.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1,540‑square‑foot duplex with two one‑bedroom, one‑bathroom units; 0.1068‑acre lot with off‑street parking and driveway access; Finished attic offers additional flexible interior space
