Three-Property Duplex
New
For Sale
$1,200,000
Pending
2468 2472 & 2484 W 10th Street, Cleveland, OH 44113
Income-producing residential package with multiple rental units, varied parking, in-unit laundry, and mixed air-conditioning systems.
Property Size7,642 SF
Days on Market4
Property Features for 2468 2472 & 2484 W 10th Street
General Information
Standard status
Pending
Size
7,642 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$25,905
Amenities
in-unit laundry
central air conditioning
window air conditioning
Building Details
Building Size
7,642 SF
Year Built
1928
Buildings
3
Listing Agency:
Keller Williams Greater Metropolitan
Listed By:
Colleen Miklus · License #2004017346
(440) 479-8766
Source:
Asacoxhomes
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 12 at 3:33AM
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 Greater Metropolitan
Investment Insights
Based on property information with market context.
This offering combines three income-producing residential properties in one transaction. The package includes duplex configurations with bedroom and bath counts of 3 bedrooms and 2 baths, 4 bedrooms and 2 baths, and 4 bedrooms and 3.5 baths. Property features include asphalt roofs, in-unit laundry, and a combination of central air conditioning and window air-conditioning units.
Parking varies across the properties, with both off-street and street parking represented. The landlord pays water and sewer at each property. The package is located in Cleveland’s Tremont neighborhood, near restaurants, entertainment, shopping, and major Cleveland destinations.
Parking varies across the properties, with both off-street and street parking represented. The landlord pays water and sewer at each property. The package is located in Cleveland’s Tremont neighborhood, near restaurants, entertainment, shopping, and major Cleveland destinations.
Key Highlights
- Three income‑producing duplex properties offered together
- Unit configurations include 3 bedrooms and 2 baths, 4 bedrooms and 2 baths, and 4 bedrooms and 3.5 baths
- In‑unit laundry included across the package
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,343
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,826,860
$1.8M
Cap Rate 7%
$1,304,900
$1.3M
Cap Rate 9%
$1,014,922
$1.0M
Market Conditions
NOI Build-Up for 7,642 SF
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.
Gross rent
$136.6K $17.88/SF
− Vacancy
−$6.1K −$0.80/SF
EGI
$130.5K $17.08/SF
− OpEx
−$39.1K −$5.12/SF
NOI
$91.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,826,860
Cap Rate 7%
$1,304,900
Cap Rate 9%
$1,014,922
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,343 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,734 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,542 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing residential package with multiple rental units, varied parking, in-unit laundry, and mixed air-conditioning systems.
Where is this duplex located?
The property is located at 2468 2472 & 2484 W 10th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three income‑producing duplex properties offered together; Unit configurations include 3 bedrooms and 2 baths, 4 bedrooms and 2 baths, and 4 bedrooms and 3.5 baths; In‑unit laundry included across the package
