Updated Duplex with Two-Car
New
For Sale
$324,999
2095 Chesterland Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,070 SF
Lot Size0.11 Acres
Price / SF$157
Days on Market3
Property Features for 2095 Chesterland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Basement, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Parking features
Garage
Subdivision
Land & Home Companys 01
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
Chesterland North of Athens
Standard status
Active
APN
315-18-093
Size
2,070 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
20 L&HCO#1 0204 ALL
Tax Annual Amount
6526
Legal Description
20 L&HCO#1 0204 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1922
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Russell Real Estate Services
(440) 572-3100
Listed By:
Matthew Ditlevson · License #2017002435
(440) 228-7164
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 4:06AM
MLS# 5238181
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 2,070-square-foot duplex, built in 1922, contains two two-bedroom units with functional layouts and natural light. The property has received key updates, including a new roof and a detached 2-car garage. Vinyl siding provides a low-maintenance exterior, while forced-air heating serves the building. The lot measures 0.1102 acres, and the property includes a basement, asphalt roofing, and garage parking.
Located at 2095 Chesterland Avenue in Lakewood, Ohio, the duplex is positioned south of Madison near parks, restaurants, retail, medical services, and other neighborhood amenities. Public water and public sewer serve the property. The configuration supports both full-property ownership and an owner-occupant arrangement with separate residential units.
Located at 2095 Chesterland Avenue in Lakewood, Ohio, the duplex is positioned south of Madison near parks, restaurants, retail, medical services, and other neighborhood amenities. Public water and public sewer serve the property. The configuration supports both full-property ownership and an owner-occupant arrangement with separate residential units.
Key Highlights
- 2,070‑square‑foot duplex with two 2‑bedroom units
- New roof and detached 2‑car garage
- 0.1102‑acre lot in Lakewood, OH
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
$21,948
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
6.75%
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%
$438,960
$439.0K
Cap Rate 7%
$313,543
$313.5K
Cap Rate 9%
$243,867
$243.9K
Market Conditions
NOI Build-Up for 2,070 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
$33.5K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$31.4K $15.15/SF
− OpEx
−$9.4K −$4.54/SF
NOI
$21.9K $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 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%
$438,960
Cap Rate 7%
$313,543
Cap Rate 9%
$243,867
Alternative Uses
Best Use
Multifamily LT 5
$313.5K
$274.4K – $365.8K
NOI $21,948 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$292.3K
$255.8K – $341.1K
NOI $20,463 @ 7.0% cap · market cap 6.30%
Theoretical Best
Warehouse
$1.66M
$1.45M – $1.94M
NOI $116,100 @ 7.0% cap · market cap 35.72%
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
691
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
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 property with vinyl siding, forced-air heat, and public water and sewer service.
Where is this duplex located?
The property is located at 2095 Chesterland Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $324,999.
What are key features of this property?
This property features: 2,070‑square‑foot duplex with two 2‑bedroom units; New roof and detached 2‑car garage; 0.1102‑acre lot in Lakewood, OH
