Duplex with Deeded Lake
For Sale
$675,000
302-304 Ruth St, Bay Village, OH 44140
Two separately arranged residences feature sunrooms, fireplaces, and a shared connection between the upper levels.
Property Size3,132 SF
Price / SF$215.52
Days on Market8
Property Features for 302-304 Ruth St
General Information
Standard status
Active
Size
3,132 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
RE/MAX Crossroads Properties
Listed By:
Susan L Haley · License #421778
(440) 517-1560
Source:
Higherperspectivegroup
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 5 at 10:28PM
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 RE/MAX Crossroads Properties
Investment Insights
Based on property information with market context.
This 3,132-square-foot duplex, built in 1920, contains two-story residences with three bedrooms and two full baths apiece. Original woodwork, built-in cabinetry, and open staircases preserve period character. Both units have sunrooms and gas-log fireplaces; the north residence also offers a renovated kitchen with quartz counters and a first-floor laundry area. A connecting door on the second floor allows the units to function together, and the divided basement has both interior and exterior access.
Outdoor features include a newer deck serving the south unit, a patio by the north unit, a firepit, and a side-entry garage built in 2012 with space for two and a half cars. The property includes deeded rights to private lake access and is located on Ruth Street in Bay Village, Ohio.
Outdoor features include a newer deck serving the south unit, a patio by the north unit, a firepit, and a side-entry garage built in 2012 with space for two and a half cars. The property includes deeded rights to private lake access and is located on Ruth Street in Bay Village, Ohio.
Key Highlights
- Two‑story duplex with two 3‑bedroom, 2‑bath residences
- 3,132 square feet; built in 1920
- Upper‑level connecting door links the residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,208
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,160
$664.2K
Cap Rate 7%
$474,400
$474.4K
Cap Rate 9%
$368,978
$369.0K
Market Conditions
NOI Build-Up for 3,132 SF
Gross rent
$50.7K $16.20/SF
− Vacancy
−$3.3K −$1.05/SF
EGI
$47.4K $15.15/SF
− OpEx
−$14.2K −$4.54/SF
NOI
$33.2K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,160
Cap Rate 7%
$474,400
Cap Rate 9%
$368,978
Alternative Uses
Best Use
Multifamily LT 5
$474.4K
$415.1K – $553.5K
NOI $33,208 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$442.3K
$387.0K – $516.0K
NOI $30,961 @ 7.0% cap · market cap 4.59%
Theoretical Best
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,665 @ 7.0% cap · market cap 26.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 44140, OH
16,163
Population
6,311
Households
2.6
Avg Household Size
44
Median Age
66%
College-Educated
99%
High-School Grad
4.6 sq mi
ZIP Area
3,514
Density / Sq Mi
$122,083
Median Household Income
$72,342
Median Earnings
$889
Median Rent
$332,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately arranged residences feature sunrooms, fireplaces, and a shared connection between the upper levels.
Where is this duplex located?
The property is located at 302-304 Ruth St Bay Village, OH.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑story duplex with two 3‑bedroom, 2‑bath residences; 3,132 square feet; built in 1920; Upper‑level connecting door links the residences
