Duplex with Forced-Air
For Sale
$145,800
211 Brace Avenue, Elyria, OH 44035
Two-unit residential property with natural gas service and forced-air heating in Elyria.
Property Size1,296 SF
Price / SF$112.50
Days on Market80
Property Features for 211 Brace Avenue
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,399
Amenities
Natural Gas, Forced Air
Unpaved
Building Details
Year Built
1972
Buildings
1
Stories
1
Listing Agency:
RE/MAX Above & Beyond
(216) 375-1158
Listed By:
Jacqueline A Jakacki · License #2015002772
(216) 375-1158
Source:
Evrealestate
Added: May 23
Changed: Aug 9
Last Checked: Aug 10 at 3:33AM
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 RE/MAX Above & Beyond
Investment Insights
Based on property information with market context.
This duplex property at 211 Brace Avenue in Elyria, Ohio, was built in 1972 and contains 1,296 square feet. The building has natural gas service and forced-air heating, with an unpaved exterior area.
The property is located in Lorain County, with access from Lake Avenue to Brace Avenue.
The property is located in Lorain County, with access from Lake Avenue to Brace Avenue.
Key Highlights
- Duplex property containing 1,296 square feet
- Built in 1972
- Natural gas service with forced‑air heating
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
$11,868
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
8.14%
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%
$237,360
$237.4K
Cap Rate 7%
$169,543
$169.5K
Cap Rate 9%
$131,867
$131.9K
Market Conditions
NOI Build-Up for 1,296 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
$17.9K $13.80/SF
− Vacancy
−$930 −$0.72/SF
EGI
$17.0K $13.08/SF
− OpEx
−$5.1K −$3.92/SF
NOI
$11.9K $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%
$237,360
Cap Rate 7%
$169,543
Cap Rate 9%
$131,867
Alternative Uses
Best Use
Multifamily LT 5
$169.5K
$148.4K – $197.8K
NOI $11,868 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$158.4K
$138.6K – $184.8K
NOI $11,085 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$326.6K
$285.8K – $381.0K
NOI $22,861 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Explore this area
Business Placement
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
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 service and forced-air heating in Elyria.
Where is this duplex located?
The property is located at 211 Brace Avenue Elyria, OH.
What is the asking price?
The asking price for this property is $145,800.
What are key features of this property?
This property features: Duplex property containing 1,296 square feet; Built in 1972; Natural gas service with forced‑air heating
