Updated
New
For Sale
$285,000
3114 Vega Avenue, Cleveland, OH 44113
ResidentialIncome, Cleveland, OH
Property Size2,068 SF
Lot Size0.12 Acres
Price / SF$137.81
Days on Market2
Property Features for 3114 Vega Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Basement
Parking features
Garage, Driveway
Subdivision
Hiram Stones Add
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
3114 Vega Ave, Cleveland, Ohio 44113
Standard status
Active
APN
007-24-035
Size
2,068 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
68 STONE S/L 222 WP 0221 EP
Tax Annual Amount
2809
Legal Description
68 STONE S/L 222 WP 0221 EP
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Building materials
VinylSiding, WoodSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Journey Toole · License #2021004623
(440) 935-9793
Added: Oct 6
Last Checked: Oct 7 at 10:06AM
MLS# 5250599
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 2,068-square-foot duplex in Cleveland’s Tremont area contains five bedrooms and two bathrooms. Improvements include vinyl windows, revised cabinetry, remodeled bathrooms, and select mechanical work. The property was built in 1890 and has driveway and garage parking, public water, and public sewer service. The lot spans 0.1212 acres.
The property is in Tremont, with Ohio City, Downtown Cleveland, Clark-Fulton, and MetroHealth among the nearby destinations. Restaurants, coffee shops, bars, and neighborhood amenities are also part of the surrounding area.
The property is in Tremont, with Ohio City, Downtown Cleveland, Clark-Fulton, and MetroHealth among the nearby destinations. Restaurants, coffee shops, bars, and neighborhood amenities are also part of the surrounding area.
Key Highlights
- Duplex with 2,068 square feet of building area
- Five bedrooms and two bathrooms
- 0.1212‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,718
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,360
$494.4K
Cap Rate 7%
$353,114
$353.1K
Cap Rate 9%
$274,644
$274.6K
Market Conditions
NOI Build-Up for 2,068 SF
Gross rent
$37.0K $17.88/SF
− Vacancy
−$1.7K −$0.80/SF
EGI
$35.3K $17.08/SF
− OpEx
−$10.6K −$5.12/SF
NOI
$24.7K $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 Rate 5%
$494,360
Cap Rate 7%
$353,114
Cap Rate 9%
$274,644
Alternative Uses
Best Use
Multifamily LT 5
$353.1K
$309.0K – $412.0K
NOI $24,718 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$327.6K
$286.6K – $382.2K
NOI $22,930 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$504.7K
$441.6K – $588.8K
NOI $35,326 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
983
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
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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 - Five bedrooms and two bathrooms provide a substantial residential configuration, with select interior and mechanical improvements.
Where is this duplex located?
The property is located at 3114 Vega Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Duplex with 2,068 square feet of building area; Five bedrooms and two bathrooms; 0.1212‑acre lot
