Upgraded Two-Unit Residential
2199 Lincoln Avenue Lakewood, OH 44107
New
2199 Lincoln Avenue, Lakewood, OH, 44107
$525,000
For Sale
$525,000
MULTI_FAMILY - Lakewood, OH
Property Size2,570 SF
Lot Size0.12 Acres
Price / SF$204.28
Days on Market2
Property Features for 2199 Lincoln Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Laundry Room, Bedroom 2, Bathroom 1, Bedroom 3, Basement, Bathroom 5, Bathroom 2, Bathroom 3
- Parking features
- Garage, Driveway
- Interior features
- WetBar, Bar, WalkInClosets
- Appliances
- Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 314-21-002
- 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
(440) 846-0077
17075 Pearl Road, Strongsville, OH
Listed by
John N Corral · License #2004021524
(330) 705-5518
Added: Jul 17 Checked: Jul 18 at 5:06 am
MLS# 5221497
Listing URL
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 offers a completely upgraded to-the-studs renovation completed circa 2020, with newer electrical, plumbing, roof, flooring, fixtures, cabinets, and countertops. The floorplans were redesigned to add additional full baths in each unit. The second-floor unit includes an attic conversion creating a lofted owner’s retreat with a wet bar, sitting area, bedroom, full bath with a walk-in shower, and a walk-in closet.
The first-floor unit features 2 bedrooms and 2 full bathrooms, while the second-floor unit features 3 bedrooms and 3 full bathrooms. The property also includes a 2-car garage and a full basement. Located at 2190 Lincoln Avenue in Lakewood, Ohio, it provides convenient access to I-90 or the Shoreway for commuting.
Overall, the building is configured as a two-unit residential income property with updated mechanicals and contemporary finishes throughout both units.
The first-floor unit features 2 bedrooms and 2 full bathrooms, while the second-floor unit features 3 bedrooms and 3 full bathrooms. The property also includes a 2-car garage and a full basement. Located at 2190 Lincoln Avenue in Lakewood, Ohio, it provides convenient access to I-90 or the Shoreway for commuting.
Overall, the building is configured as a two-unit residential income property with updated mechanicals and contemporary finishes throughout both units.
Key Highlights
- Completely upgraded to the studs circa 2020 with newer electrical, plumbing, roof, flooring, fixtures, cabinets, and countertops
- 2‑unit layout with full baths in each unit: first floor offers 2BR and 2 full baths; second floor offers 3BR and 3BA
- Second‑floor attic converted to a lofted owner’s retreat with wet bar, sitting area, bedroom, full bath with walk‑in shower, and walk‑in closet
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.6k | $16.20 |
| − Vacancy | −$2.7k | −$1.05 |
| EGI | $38.9k | $15.15 |
| − OpEx | −$11.7k | −$4.54 |
| NOI | $27.2k | $10.60 |
2,570 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$389.3K
$340.6K – $454.2K
NOI $27,249 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$362.9K
$317.6K – $423.4K
NOI $25,405 @ 7.0% cap · market cap 4.84%
Theoretical Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,144 @ 7.0% cap · market cap 27.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Completely upgraded duplex with two redesigned units featuring multiple full baths, a 2-car garage, and a full basement.
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 $525,000.
What are key features of this property?
This property features: Completely upgraded to the studs circa 2020 with newer electrical, plumbing, roof, flooring, fixtures, cabinets, and countertops; 2‑unit layout with full baths in each unit: first floor offers 2BR and 2 full baths; second floor offers 3BR and 3BA; Second‑floor attic converted to a lofted owner’s retreat with wet bar, sitting area, bedroom, full bath with walk‑in shower, and walk‑in closet
