Residential Income Property with
New
For Sale
$649,000
2117 Fairview Avenue, Cleveland, OH 44106
The property includes central air, forced-air heating, and a detached garage.
Property Size1,948 SF
Price / SF$333.16
Days on Market4
Property Features for 2117 Fairview Avenue
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Little Italy
Taxes and HOA fees
Annual Taxes
$15,615
Amenities
Central Air
Forced Air
Unfinished
Back Yard
Detached, Garage
Courtyard, Private Yard
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Greater Cleveland
Listed By:
Marty Emerman · License #2002012018
(216) 533-7658
Source:
Evrealestate
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 26 at 4:31PM
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 Greater Cleveland
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Investment Insights
Based on property information with market context.
This residential income property contains 1,948 square feet and dates to 1900. Interior features include central air, forced-air heating, and unfinished space. A detached garage, back yard, private yard, and courtyard are also part of the property.
The property is at 2117 Fairview Avenue in Cleveland, Ohio. Access directions reference Murray Hill Road and Fairview Avenue.
The property is at 2117 Fairview Avenue in Cleveland, Ohio. Access directions reference Murray Hill Road and Fairview Avenue.
Key Highlights
- 1,948 square feet of property
- Built in 1900
- Central air and forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,599
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,980
$432.0K
Cap Rate 7%
$308,557
$308.6K
Cap Rate 9%
$239,989
$240.0K
Market Conditions
NOI Build-Up for 1,948 SF
Gross rent
$40.9K $21.00/SF
− Vacancy
−$1.6K −$0.84/SF
EGI
$39.3K $20.16/SF
− OpEx
−$17.7K −$9.07/SF
NOI
$21.6K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,980
Cap Rate 7%
$308,557
Cap Rate 9%
$239,989
Alternative Uses
Best Use
Apartment 5plus
$308.6K
$270.0K – $360.0K
NOI $21,599 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$475.4K
$416.0K – $554.6K
NOI $33,276 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,784
Businesses Nearby
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Business Placement
Demographics for 44106, OH
26,608
Population
13,287
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
6,188
Density / Sq Mi
$42,869
Median Household Income
$27,056
Median Earnings
$1,024
Median Rent
$241,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The property includes central air, forced-air heating, and a detached garage.
Where is this residential income property located?
The property is located at 2117 Fairview Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 1,948 square feet of property; Built in 1900; Central air and forced‑air heating
