Up-and-Down Duplex with Updated Second
For Sale
$280,000
Pending
2026 W 44th Street, Cleveland, OH 44113
MULTI_FAMILY - Cleveland, OH
Property Size2,225 SF
Lot Size0.08 Acres
Days on Market57
Property Features for 2026 W 44th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 6, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Basement, Bathroom 1, Laundry Room, Bedroom 5
Parking features
Driveway
Appliances
Range, Refrigerator
Subdivision
Brooklyn Township
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
90W to exit 169 for 41st St, RT onto W 41st St, Left onto Lorain Ave, Left onto W44th St.
Standard status
Pending
APN
006-20-023
Size
2,225 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
52 PEACH ORCH 0150 ALL
Tax Annual Amount
6439
Legal Description
52 PEACH ORCH 0150 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Building materials
AluminumSiding, VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Tera Somogyi · License #2020005466
(561) 901-9331
Added: Jun 23
Changed: Aug 12
Last Checked: Aug 18 at 9:06AM
MLS# 5220838
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 up-and-down duplex on W 44th Street offers two separate units, each with a 3-bedroom, 1-bath layout. The second-story unit has been fully updated and is move-in ready. The first-floor unit is fully functional and tenant-occupied, providing an opportunity to add sweat equity or make cosmetic updates over time.
Updates include refreshed kitchens with brand-new cabinetry, LVP flooring, and appliances all updated within the past 3 years. Major mechanical improvements include 2 newer furnaces, 2 newer hot water tanks, and an upgraded electrical panel in the upper unit. Additional exterior improvements include a newly installed wood privacy fence in the backyard, and a roof that is approximately 10 years old.
The property was built in 1910 and includes a driveway for parking. Public water and public sewer services are available. HVAC is forced air, and the exterior is aluminum siding and vinyl siding.
Updates include refreshed kitchens with brand-new cabinetry, LVP flooring, and appliances all updated within the past 3 years. Major mechanical improvements include 2 newer furnaces, 2 newer hot water tanks, and an upgraded electrical panel in the upper unit. Additional exterior improvements include a newly installed wood privacy fence in the backyard, and a roof that is approximately 10 years old.
The property was built in 1910 and includes a driveway for parking. Public water and public sewer services are available. HVAC is forced air, and the exterior is aluminum siding and vinyl siding.
Key Highlights
- Two 3‑bedroom, 1‑bath units in an up‑and‑down duplex layout
- Second‑story unit is fully updated and move‑in ready
- Kitchens refreshed with brand‑new cabinetry, LVP flooring, and appliances updated within the past 3 years
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
$24,671
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
8.81%
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%
$493,420
$493.4K
Cap Rate 7%
$352,443
$352.4K
Cap Rate 9%
$274,122
$274.1K
Market Conditions
NOI Build-Up for 2,225 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
$46.7K $21.00/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$44.9K $20.16/SF
− OpEx
−$20.2K −$9.07/SF
NOI
$24.7K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
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%
$493,420
Cap Rate 7%
$352,443
Cap Rate 9%
$274,122
Alternative Uses
Best Use
Multifamily LT 5
$379.9K
$332.4K – $443.3K
NOI $26,595 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$352.4K
$308.4K – $411.2K
NOI $24,671 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$543.0K
$475.1K – $633.5K
NOI $38,008 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 44113, OH
20,291
Population
12,554
Households
1.6
Avg Household Size
33
Median Age
54%
College-Educated
89%
High-School Grad
3.8 sq mi
ZIP Area
5,340
Density / Sq Mi
$70,140
Median Household Income
$61,204
Median Earnings
$1,374
Median Rent
$295,400
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 - Up-and-down duplex with two 3-bedroom, 1-bath units; the second-story unit is fully updated and move-in ready.
Where is this duplex located?
The property is located at 2026 W 44th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units in an up‑and‑down duplex layout; Second‑story unit is fully updated and move‑in ready; Kitchens refreshed with brand‑new cabinetry, LVP flooring, and appliances updated within the past 3 years
