Residential Income Property with
For Sale
$449,990
2203 Bunts Road, Lakewood, OH 44107
Central air, gas forced-air heat, and a partially finished basement support the property’s residential layout.
Property Size2,930 SF
Price / SF$153.58
Days on Market11
Property Features for 2203 Bunts Road
General Information
Standard status
Active
Size
2,930 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,810
Amenities
Central Air
Natural Gas, Forced Air
Full, Partially Finished
Dishwasher, Microwave, Range, Refrigerator
Detached, Garage, Paved
Building Details
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
EXP Realty
Listed By:
George Vujadinovic · License #2021003089
(440) 502-9128
Source:
Evrealestate
Added: Oct 23
Changed: Nov 2
Last Checked: Nov 1 at 5:07AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
Built in 1920, this residential income property includes central air and natural gas forced-air heating. The full basement is partially finished, and the listed kitchen appliances are a dishwasher, microwave, range, and refrigerator. A detached garage and paved exterior area are also part of the property.
The property is located at 2203 Bunts Road in Lakewood, Ohio, in Cuyahoga County.
The property is located at 2203 Bunts Road in Lakewood, Ohio, in Cuyahoga County.
Key Highlights
- Built in 1920
- Full basement, partially finished
- Central air and natural gas forced‑air heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,964
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,280
$579.3K
Cap Rate 7%
$413,771
$413.8K
Cap Rate 9%
$321,822
$321.8K
Market Conditions
NOI Build-Up for 2,930 SF
Gross rent
$55.9K $19.08/SF
− Vacancy
−$3.2K −$1.11/SF
EGI
$52.7K $17.97/SF
− OpEx
−$23.7K −$8.09/SF
NOI
$29.0K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,280
Cap Rate 7%
$413,771
Cap Rate 9%
$321,822
Alternative Uses
Best Use
Apartment 5plus
$413.8K
$362.1K – $482.7K
NOI $28,964 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.35M
$2.05M – $2.74M
NOI $164,335 @ 7.0% cap · market cap 36.52%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Central air, gas forced-air heat, and a partially finished basement support the property’s residential layout.
Where is this residential income property located?
The property is located at 2203 Bunts Road Lakewood, OH.
What is the asking price?
The asking price for this property is $449,990.
What are key features of this property?
This property features: Built in 1920; Full basement, partially finished; Central air and natural gas forced‑air heat
