Duplex with Forced-Air
For Sale
$139,800
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$107.87
Days on Market140
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
Listed By:
Jacqueline A Jakacki · License #2015002772
(216) 375-1158
Source:
Evrealestate
Added: May 21
Changed: Oct 6
Last Checked: Oct 5 at 6:16PM
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 / Yr
$11,868
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
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
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 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 8.49%
Second Best
Apartment 5plus
$158.4K
$138.6K – $184.8K
NOI $11,085 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$326.6K
$285.8K – $381.0K
NOI $22,861 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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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 $139,800.
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
