Renovated Duplex with Lofted
For Sale
$459,900
Pending
2199 Lincoln Avenue, Lakewood, OH 44107
ResidentialIncome, Lakewood, OH
Property Size2,570 SF
Lot Size0.12 Acres
Days on Market99
Property Features for 2199 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 1, Laundry Room, Bathroom 5, Bathroom 1, Basement
Parking features
Garage, Driveway
Interior features
WetBar, Bar, WalkInClosets
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Elementary school district
Lakewood CSD (Cuyahoga)- 1817
Middle school district
Lakewood CSD (Cuyahoga)- 1817
High school district
Lakewood CSD (Cuyahoga)- 1817
Directions
East of Warren
Standard status
Pending
APN
314-23-008
Size
2,570 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9630
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1928
Floors in Building
3
Building materials
Brick, VinylSiding, WoodSiding
Roof type
Asphalt
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(440) 846-0077
Listed By:
John N Corral · License #2004021524
(330) 705-5518
Added: Jul 17
Changed: Oct 16
Last Checked: Oct 23 at 7:06AM
MLS# 5221497
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.
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Investment Insights
Based on property information with market context.
This 2,570-square-foot duplex in Lakewood was comprehensively renovated circa 2020, including updated electrical, plumbing, roofing, flooring, cabinetry, countertops, fixtures, and paint. The first-floor residence includes 2 bedrooms and 2 full baths. The second-floor unit offers 3 bedrooms and 3 full baths, with an attic conversion adding a lofted retreat, wet bar, sitting area, bedroom, bathroom, and walk-in closet. Both units feature remodeled kitchens and bathrooms, while the property also includes a full basement and a 2-car garage.
Set on a 0.1212-acre lot, the 1928-built property has forced-air natural gas heating, central air, public water, and an asphalt roof. Its Lakewood location provides access to I-90 and the Shoreway for regional commuting.
Set on a 0.1212-acre lot, the 1928-built property has forced-air natural gas heating, central air, public water, and an asphalt roof. Its Lakewood location provides access to I-90 and the Shoreway for regional commuting.
Key Highlights
- 2,570‑square‑foot duplex with 2 residential units
- First‑floor unit has 2 bedrooms and 2 full baths
- Second‑floor unit has 3 bedrooms and 3 full baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,249
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,980
$545.0K
Cap Rate 7%
$389,271
$389.3K
Cap Rate 9%
$302,767
$302.8K
Market Conditions
NOI Build-Up for 2,570 SF
Gross rent
$41.6K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.9K $15.15/SF
− OpEx
−$11.7K −$4.54/SF
NOI
$27.2K $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 Rate 5%
$544,980
Cap Rate 7%
$389,271
Cap Rate 9%
$302,767
Alternative Uses
Best Use
Multifamily LT 5
$389.3K
$340.6K – $454.2K
NOI $27,249 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$362.9K
$317.6K – $423.4K
NOI $25,405 @ 7.0% cap · market cap 5.52%
Theoretical Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,144 @ 7.0% cap · market cap 31.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
662
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature redesigned layouts, updated finishes, and multiple full bathrooms.
Where is this duplex located?
The property is located at 2199 Lincoln Avenue Lakewood, OH.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 2,570‑square‑foot duplex with 2 residential units; First‑floor unit has 2 bedrooms and 2 full baths; Second‑floor unit has 3 bedrooms and 3 full baths
