Five-Bedroom-Per-Unit
For Sale
$386,000
2580 Colchester Road, Cleveland Heights, OH 44106
Both residences are vacant, and the property has a new driveway and fresh paint.
Property Size3,459 SF
Price / SF$111.59
Days on Market24
Property Features for 2580 Colchester Road
General Information
Standard status
Active
Size
3,459 SF
Property subtype
Duplex
Site & Location
Neighborhood
Ambler Heights
Units
Unit Mix
2 x Five-Bedroom
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,704
Building Details
Building Size
3,459 SF
Year Built
1920
Listing Agency:
Ohio Broker Direct
Listed By:
Joan Elflein · License #386319
(614) 989-7215
Source:
Lifestagesrealty
Added: Oct 10
Changed: Oct 30
Last Checked: Oct 30 at 5:40PM
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 Ohio Broker Direct
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 3,459 square feet, with five bedrooms in each residence. Built in 1920, the property is currently vacant and has recently received fresh paint and a new driveway.
The address is near Cleveland Clinic, University Hospitals, and Case Western Reserve University. Primary and middle schools are within walking distance.
The address is near Cleveland Clinic, University Hospitals, and Case Western Reserve University. Primary and middle schools are within walking distance.
Key Highlights
- Two residences, each configured with five bedrooms
- 3,459 square feet across the duplex
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,193
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,860
$683.9K
Cap Rate 7%
$488,471
$488.5K
Cap Rate 9%
$379,922
$379.9K
Market Conditions
NOI Build-Up for 3,459 SF
Gross rent
$66.0K $19.08/SF
− Vacancy
−$3.8K −$1.11/SF
EGI
$62.2K $17.97/SF
− OpEx
−$28.0K −$8.09/SF
NOI
$34.2K $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%
$683,860
Cap Rate 7%
$488,471
Cap Rate 9%
$379,922
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.3K
NOI $36,675 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$488.5K
$427.4K – $569.9K
NOI $34,193 @ 7.0% cap · market cap 8.86%
Theoretical Best
Warehouse
$2.77M
$2.43M – $3.23M
NOI $194,005 @ 7.0% cap · market cap 50.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 44106, OH
26,608
Population
13,287
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
6,188
Density / Sq Mi
$42,869
Median Household Income
$27,056
Median Earnings
$1,024
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, and the property has a new driveway and fresh paint.
Where is this duplex located?
The property is located at 2580 Colchester Road Cleveland Heights, OH.
What is the asking price?
The asking price for this property is $386,000.
What are key features of this property?
This property features: Two residences, each configured with five bedrooms; 3,459 square feet across the duplex; Built in 1920
