Updated Duplex with Finished
2021 Lewis Drive, Lakewood, OH 44107
For Sale
$319,000
ResidentialIncome, Lakewood, OH
Property Size2,556 SF
Lot Size0.11 Acres
Price / SF$124.80
Days on Market49
Property Features for 2021 Lewis Drive
General Information
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Elementary school district
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Building Details
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Listing Agency:
Real of Ohio
(330) 807-1303
Listed By:
Olivia M Riedel · License #2023003250
(440) 602-2592
Added: Sep 22
Changed: Nov 5
Last Checked: Nov 9 at 4:06AM
MLS# 5247052
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.
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Investment Insights
Based on property information with market context.
This 1922 duplex offers 2,556 square feet with a second-floor open layout and a finished attic that adds flexible usable space. The property includes an enclosed yard, rear porch, repaved rear drive, garage, and driveway parking. Interior features include an eat-in kitchen, built-in elements, ceiling fans, and a laundry room. Public water and public sewer serve the property, with forced-air heat and central air conditioning.
Located at 2021 Lewis Drive in Lakewood, the property sits on a 0.1102-acre lot. Coffee shops, restaurants, the library, and parks are within walking distance. Recent work includes interior paint in 2026, exterior paint in 2025, an upstairs oven and refrigerator installed in 2025, central air added in 2019, and furnace and electrical panel updates completed in 2018.
Located at 2021 Lewis Drive in Lakewood, the property sits on a 0.1102-acre lot. Coffee shops, restaurants, the library, and parks are within walking distance. Recent work includes interior paint in 2026, exterior paint in 2025, an upstairs oven and refrigerator installed in 2025, central air added in 2019, and furnace and electrical panel updates completed in 2018.
Key Highlights
- 2,556‑square‑foot duplex on a 0.1102‑acre lot
- Finished attic and open second‑floor layout
- Central air added in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,101
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,020
$542.0K
Cap Rate 7%
$387,157
$387.2K
Cap Rate 9%
$301,122
$301.1K
Market Conditions
NOI Build-Up for 2,556 SF
Gross rent
$41.4K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.7K $15.15/SF
− OpEx
−$11.6K −$4.54/SF
NOI
$27.1K $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%
$542,020
Cap Rate 7%
$387,157
Cap Rate 9%
$301,122
Alternative Uses
Best Use
Multifamily LT 5
$387.2K
$338.8K – $451.7K
NOI $27,101 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$361.0K
$315.8K – $421.1K
NOI $25,267 @ 7.0% cap · market cap 7.92%
Theoretical Best
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,358 @ 7.0% cap · market cap 44.94%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
785
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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
$241,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lakewood, OH
Properties on Market for Duplexes in Lakewood
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Maintained duplex with central air, updated mechanical systems, and enclosed outdoor space.
Where is this duplex located?
The property is located at 2021 Lewis Drive Lakewood, OH.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: 2,556‑square‑foot duplex on a 0.1102‑acre lot; Finished attic and open second‑floor layout; Central air added in 2019
