Updated Two-Unit
New
For Sale
$494,900
21030-21040 Detroit Road, Rocky River, OH 44116
MULTI_FAMILY - Rocky River, OH
Property Size3,254 SF
Lot Size0.19 Acres
Price / SF$152.09
Days on Market1
Property Features for 21030-21040 Detroit Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Laundry Room, Bedroom 3, Bedroom 2, Basement, Bathroom 3, Bedroom 4, Bedroom 5
Parking features
Garage, Open
Interior features
EntranceFoyer, GraniteCounters
Appliances
Dryer, Dishwasher, Disposal, Range, Refrigerator, Washer
Lot features
Rolling Slope, Wooded
Elementary school district
Rocky River CSD - 1826
Middle school district
Rocky River CSD - 1826
High school district
Rocky River CSD - 1826
Directions
Near the corner of Detroit and Wagar Rd. Driveway is on Cliffside Commons behind the house.
Standard status
Active
APN
302-15-011
Size
3,254 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8074
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Building materials
Brick, VinylSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(440) 331-2870
Listed By:
Anthony R Latina · License #2016003431
(440) 465-5611
Added: Aug 14
Last Checked: Aug 14 at 12:06PM
MLS# 5235622
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 duplex contains two separate residences with complementary layouts. The front apartment is single-story with two bedrooms and one full bath, refinished hardwood flooring, and an air conditioner replaced in 2020. The two-story rear apartment includes three bedrooms, one and a half baths, a partially finished basement, extensive closet storage, and updated kitchen and bath finishes from a 2019 remodel. Both units include laundry facilities, and the property has a basement serving each residence.
Recent capital improvements include a 2017 roof, 2019 exterior siding and painted brick, a 2021 electrical service box for the rear unit, and 2023 replacements of its furnace, air conditioner, and hot water heater. The property also includes a two-car garage and 4 additional parking spaces on a 0.188-acre lot. Located on Detroit Road in Rocky River, the property has public water and public sewer service.
Recent capital improvements include a 2017 roof, 2019 exterior siding and painted brick, a 2021 electrical service box for the rear unit, and 2023 replacements of its furnace, air conditioner, and hot water heater. The property also includes a two-car garage and 4 additional parking spaces on a 0.188-acre lot. Located on Detroit Road in Rocky River, the property has public water and public sewer service.
Key Highlights
- Two‑unit duplex with a 2‑bedroom front residence and a 3‑bedroom rear residence
- Front unit includes refinished hardwood floors and an air conditioner replaced in 2020
- Rear unit remodeled in 2019 with granite counters, updated appliances, flooring, lighting, and baths
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
$34,502
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
6.97%
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%
$690,040
$690.0K
Cap Rate 7%
$492,886
$492.9K
Cap Rate 9%
$383,356
$383.4K
Market Conditions
NOI Build-Up for 3,254 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
$52.7K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$49.3K $15.15/SF
− OpEx
−$14.8K −$4.54/SF
NOI
$34.5K $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%
$690,040
Cap Rate 7%
$492,886
Cap Rate 9%
$383,356
Alternative Uses
Best Use
Multifamily LT 5
$492.9K
$431.3K – $575.0K
NOI $34,502 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$459.5K
$402.1K – $536.1K
NOI $32,167 @ 7.0% cap · market cap 6.50%
Theoretical Best
Warehouse
$2.61M
$2.28M – $3.04M
NOI $182,507 @ 7.0% cap · market cap 36.88%
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
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 44116, OH
21,821
Population
10,484
Households
2.1
Avg Household Size
45
Median Age
64%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
4,453
Density / Sq Mi
$93,532
Median Household Income
$60,738
Median Earnings
$1,146
Median Rent
$327,600
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 - Two distinct residences offer varied layouts, private laundry, basement storage, and garage parking in Rocky River.
Where is this duplex located?
The property is located at 21030-21040 Detroit Road Rocky River, OH.
What is the asking price?
The asking price for this property is $494,900.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom front residence and a 3‑bedroom rear residence; Front unit includes refinished hardwood floors and an air conditioner replaced in 2020; Rear unit remodeled in 2019 with granite counters, updated appliances, flooring, lighting, and baths
