5-Unit Short-Term Rental
New
For Sale
$849,900
2424 W 10th St, Cleveland, OH 44113
Two updated homes contain furnished guest accommodations and an established Airbnb operation.
Property Size4,028 SF
Lot Size0.12 Acres
Price / SF$210
Days on Market5
Property Features for 2424 W 10th St
General Information
Standard status
Active
Size
4,028 SF
Lot size
0.12 Acres
Property subtype
Residential Income
Additional Details
Furnished
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,854
Building Details
Buildings
2
Listing Agency:
Keller Williams Chervenic Rlty
(330) 467-7000
Listed By:
Charles M Burmeister · License #700402175
(216) 533-4618
Source:
Exprealty
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:22AM
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 Keller Williams Chervenic Rlty
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Investment Insights
Based on property information with market context.
Two remodeled century homes comprise five furnished Airbnb units across 4,028 square feet. The buildings occupy a 0.12-acre private lot in Tremont, with an established Airbnb income stream described as part of the property’s current operation.
Lincoln Park is steps away, with restaurants, art galleries, and nightlife in the surrounding area. Tremont Montessori School, serving Pre-K through 8th grade, is directly across the street.
Lincoln Park is steps away, with restaurants, art galleries, and nightlife in the surrounding area. Tremont Montessori School, serving Pre-K through 8th grade, is directly across the street.
Key Highlights
- Five furnished Airbnb units across two remodeled century homes
- 4,028 square feet on a 0.12‑acre lot
- Established Airbnb income stream
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,662
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$893,240
$893.2K
Cap Rate 7%
$638,029
$638.0K
Cap Rate 9%
$496,244
$496.2K
Market Conditions
NOI Build-Up for 4,028 SF
Gross rent
$84.6K $21.00/SF
− Vacancy
−$3.4K −$0.84/SF
EGI
$81.2K $20.16/SF
− OpEx
−$36.5K −$9.07/SF
NOI
$44.7K $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%
$893,240
Cap Rate 7%
$638,029
Cap Rate 9%
$496,244
Alternative Uses
Best Use
Apartment 5plus
$638.0K
$558.3K – $744.4K
NOI $44,662 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.0K
$860.1K – $1.15M
NOI $68,807 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 44113, OH
20,291
Population
12,554
Households
1.6
Avg Household Size
33
Median Age
54%
College-Educated
89%
High-School Grad
3.8 sq mi
ZIP Area
5,340
Density / Sq Mi
$70,140
Median Household Income
$61,204
Median Earnings
$1,374
Median Rent
$295,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two updated homes contain furnished guest accommodations and an established Airbnb operation.
Where is this short term rental property located?
The property is located at 2424 W 10th St Cleveland, OH.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Five furnished Airbnb units across two remodeled century homes; 4,028 square feet on a 0.12‑acre lot; Established Airbnb income stream
