Duplex with
For Sale
$170,000
Pending
2069 E 29th Street, Lorain, OH 44055
Two-unit residential property with natural gas, a driveway, and unfinished interior space.
Property Size1,664 SF
Days on Market54
Property Features for 2069 E 29th Street
General Information
Standard status
Pending
Size
1,664 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,751
Amenities
Other
Natural Gas
Unfinished
Driveway
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
(440) 506-0636
Listed By:
Xavier Harrison
(440) 506-0636
Source:
Evrealestate
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 30 at 1:48PM
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 Xavier Harrison
Investment Insights
Based on property information with market context.
This duplex contains 1,664 square feet and dates to 1900. The property includes unfinished interior space, natural gas, and a driveway. Located at 2069 E 29th Street in Lorain, Ohio, the property is situated in Lorain County.
Key Highlights
- Duplex with 1,664 square feet
- Built in 1900
- Unfinished 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
$15,238
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
8.96%
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%
$304,760
$304.8K
Cap Rate 7%
$217,686
$217.7K
Cap Rate 9%
$169,311
$169.3K
Market Conditions
NOI Build-Up for 1,664 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
$23.0K $13.80/SF
− Vacancy
−$1.2K −$0.72/SF
EGI
$21.8K $13.08/SF
− OpEx
−$6.5K −$3.92/SF
NOI
$15.2K $9.16/SF
Area
Lorain County, OH
Vacancy
5.20%
Lease Rate
$13.80 /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%
$304,760
Cap Rate 7%
$217,686
Cap Rate 9%
$169,311
Alternative Uses
Best Use
Multifamily LT 5
$217.7K
$190.5K – $254.0K
NOI $15,238 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$203.3K
$177.9K – $237.2K
NOI $14,233 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$419.3K
$366.9K – $489.2K
NOI $29,353 @ 7.0% cap · market cap 17.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 44055, OH
19,331
Population
9,258
Households
2.1
Avg Household Size
36
Median Age
10%
College-Educated
82%
High-School Grad
6.3 sq mi
ZIP Area
3,068
Density / Sq Mi
$36,603
Median Household Income
$30,631
Median Earnings
$848
Median Rent
$95,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with natural gas, a driveway, and unfinished interior space.
Where is this duplex located?
The property is located at 2069 E 29th Street Lorain, OH.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Duplex with 1,664 square feet; Built in 1900; Unfinished interior space
