Duplex with Finished
For Sale
$329,900
2021 Lewis Drive, Lakewood, OH 44107
A finished attic, enclosed yard, and rear porch add useful space to this Lakewood property.
Property Size2,556 SF
Price / SF$129.07
Days on Market42
Property Features for 2021 Lewis Drive
General Information
Standard status
Active
Size
2,556 SF
Property subtype
Duplex
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,397
Amenities
open floor plan
finished attic
enclosed yard
rear porch
central air
Building Details
Building Size
2,556 SF
Year Built
1922
Listing Agency:
Real of Ohio
Listed By:
Olivia M Riedel · License #2023003250
(440) 602-2592
Source:
Lifestagesrealty
Added: Sep 22
Changed: Nov 2
Last Checked: Nov 1 at 1:37PM
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 Real of Ohio
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,556-square-foot duplex was built in 1922 and includes an open second-floor layout, a finished attic, an enclosed yard, and a rear porch. Improvements include central air installed in 2019, updated furnaces and electrical panels in 2018, and new interior and exterior paint in 2026 and 2025, respectively. An upstairs oven and refrigerator were also added in 2025, and the rear drive was repaved.
The property is in Lakewood, within walking distance of coffee shops, restaurants, a library, and parks.
The property is in Lakewood, within walking distance of coffee shops, restaurants, a library, and parks.
Key Highlights
- 2,556‑square‑foot duplex built in 1922
- Finished attic and open layout on the second floor
- Enclosed yard, rear porch, and repaved rear drive
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,101
Cap Rate
8.21%
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 8.21%
Second Best
Apartment 5plus
$361.0K
$315.8K – $421.1K
NOI $25,267 @ 7.0% cap · market cap 7.66%
Theoretical Best
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,358 @ 7.0% cap · market cap 43.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,777
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
Frequently Asked Questions
What type of property is this?
Duplex - A finished attic, enclosed yard, and rear porch add useful space to this Lakewood property.
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 $329,900.
What are key features of this property?
This property features: 2,556‑square‑foot duplex built in 1922; Finished attic and open layout on the second floor; Enclosed yard, rear porch, and repaved rear drive
