Renovated
For Sale
$199,900
2215 Hood Avenue, Cleveland, OH 44109
Updates include new furnaces, plumbing, kitchens, bathrooms, flooring, and windows.
Property Size1,496 SF
Price / SF$133.62
Days on Market63
Property Features for 2215 Hood Avenue
General Information
Standard status
Active
Size
1,496 SF
Property subtype
Duplex
Site & Location
Neighborhood
Old Brooklyn
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,270
Building Details
Building Size
1,496 SF
Year Built
1910
Listing Agency:
Russell Real Estate Services
Listed By:
Tal Tamir · License #2018001908
(216) 870-8687
Source:
Lifestagesrealty
Added: Aug 26
Changed: Oct 26
Last Checked: Oct 26 at 2:21PM
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 Russell Real Estate Services
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Investment Insights
Based on property information with market context.
This 1,496-square-foot duplex dates to 1910 and has undergone a recent renovation. Improvements include new furnaces, plumbing, flooring, kitchens, bathrooms, and windows, refreshing key building systems and interior spaces.
Key Highlights
- 1,496‑square‑foot duplex
- Recent renovation includes new furnaces and plumbing
- Updated kitchens, bathrooms, flooring, and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,881
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,620
$357.6K
Cap Rate 7%
$255,443
$255.4K
Cap Rate 9%
$198,678
$198.7K
Market Conditions
NOI Build-Up for 1,496 SF
Gross rent
$26.7K $17.88/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$25.5K $17.08/SF
− OpEx
−$7.7K −$5.12/SF
NOI
$17.9K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,620
Cap Rate 7%
$255,443
Cap Rate 9%
$198,678
Alternative Uses
Best Use
Multifamily LT 5
$255.4K
$223.5K – $298.0K
NOI $17,881 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$237.0K
$207.4K – $276.5K
NOI $16,588 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$365.1K
$319.4K – $425.9K
NOI $25,555 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
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Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
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 - Updates include new furnaces, plumbing, kitchens, bathrooms, flooring, and windows.
Where is this duplex located?
The property is located at 2215 Hood Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,496‑square‑foot duplex; Recent renovation includes new furnaces and plumbing; Updated kitchens, bathrooms, flooring, and windows
