Two-Home Duplex
For Sale
$419,000
Pending
2584 W 11th Street, Cleveland, OH 44113
ResidentialIncome, Cleveland, OH
Property Size1,985 SF
Lot Size0.11 Acres
Days on Market8
Property Features for 2584 W 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Laundry Room, Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Basement
Parking features
On Street, Garage
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Subdivision
John G Jenning University Heights
Lot features
Back Yard
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
W 14th to Starkweather to W 11th.
Standard status
Pending
APN
004-21-046
Size
1,985 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8897
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
outdoor patio area
Building Details
Year built
1880
Floors in Building
2
Building materials
AluminumSiding, VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
RE/MAX Crossroads Properties · RE/MAX International
(440) 331-2870
Listed By:
Stacey A Burnett · License #2014001124
(216) 965-7824
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 31 at 5:06PM
MLS# 5239199
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property contains two residences totaling 1,985 square feet on a 0.11-acre lot. The front residence has 3 bedrooms and 2 full baths, while the rear residence includes 1 bedroom and 1 full bath. Both homes connect to a shared outdoor patio area. Built in 1880, the property features aluminum and vinyl siding, asphalt and fiberglass roofing, natural gas forced-air heating, central air, and ceiling fans. Appliances include a range, refrigerator, dishwasher, microwave, washer, and dryer. Parking is provided by a garage and on-street spaces, with public water and public sewer serving the property.
The property is located at 2584 W 11th Street in Cleveland’s Tremont area, near Lincoln Park, restaurants, shops, and entertainment, with access to downtown Cleveland.
The property is located at 2584 W 11th Street in Cleveland’s Tremont area, near Lincoln Park, restaurants, shops, and entertainment, with access to downtown Cleveland.
Key Highlights
- Two residences totaling 1,985 square feet on a 0.11‑acre lot
- Front home includes 3 bedrooms and 2 full baths
- Rear home offers 1 bedroom and 1 full bath
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
$23,726
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
5.66%
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%
$474,520
$474.5K
Cap Rate 7%
$338,943
$338.9K
Cap Rate 9%
$263,622
$263.6K
Market Conditions
NOI Build-Up for 1,985 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
$35.5K $17.88/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$33.9K $17.08/SF
− OpEx
−$10.2K −$5.12/SF
NOI
$23.7K $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%
$474,520
Cap Rate 7%
$338,943
Cap Rate 9%
$263,622
Alternative Uses
Best Use
Multifamily LT 5
$338.9K
$296.6K – $395.4K
NOI $23,726 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$314.4K
$275.1K – $366.8K
NOI $22,010 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$484.4K
$423.9K – $565.1K
NOI $33,908 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
825
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
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 - Separate three-bedroom and one-bedroom residences share an outdoor patio and offer flexible occupancy options.
Where is this duplex located?
The property is located at 2584 W 11th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Two residences totaling 1,985 square feet on a 0.11‑acre lot; Front home includes 3 bedrooms and 2 full baths; Rear home offers 1 bedroom and 1 full bath
