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    Three-Unit Residential Income Property Title is generated by Realmo AI

    3122 W 30th Street, Cleveland, OH 44109

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    For Sale
    $315,000

    MULTI_FAMILY - Cleveland, OH

    Property size:
    3,079 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $102/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 3122 W 30th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    9
    Bathrooms
    3
    Rooms
    Basement, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 8, Bedroom 9, Bedroom 6
    Parking features
    Driveway, Off Street
    Standard status
    Active
    APN
    007-33-099
    Size
    3,079 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    67 CLARK S/L 22 NP 0023 SP
    Tax Annual Amount
    6081

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    2
    Building materials
    AluminumSiding, VinylSiding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Tera Somogyi
    Tera Somogyi

    Listing agent Tera Somogyi License #2020005466

    Listing office Keller Williams Living 32875 Solon Road, Suite 100, Solon, OH

    Listing date Jun 3, 2026

    MLS# 5215397 Listing URL

    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.

    HighLights

    • 3 occupied units generating a combined $3,600/month in rental income
    • Front lower unit: 3 bed, 1 bath, leased for $1,000/month
    • Detached rear house: occupied and rented for $1,500/month
    • Upper unit: 1 bed, 1 bath, leased to a CMHA tenant for $1,100/month
    • Public utilities: public water and public sewer
    • Year built 1910 with asphalt roof and forced‑air heating

    Overview

    This property is a three-unit residential income asset with all units currently occupied. The front lower unit includes 3 bedrooms and 1 bathroom and is leased for $1,000 per month. The detached rear house is occupied and rented for $1,500 per month. The upper unit is a 1-bedroom, 1-bathroom apartment leased to a CMHA tenant at $1,100 per month, creating total in-place rent of $3,600 per month.

    Located at 3122 W 30th Street in Cleveland’s Clark-Fulton neighborhood (44109), the property is described as offering convenient access to downtown Cleveland, major transportation corridors, employment centers, and everyday amenities such as shopping and dining.

    For investors or owner-operators, this configuration provides a diversified tenant mix across three units while remaining fully stabilized with current occupancy. The unit mix includes both a larger family-style layout and smaller apartment options, which may support broader tenant appeal within the same building footprint. The asset is offered for sale as an income-producing property with the ability to review and plan future operational improvements based on buyer goals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.702251
    Latitude
    41.469183

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    FAQs

    What type of property is this?
    Triplex - Fully occupied three-unit asset with established rental income from three distinct apartment configurations.
    Where is this triplex located?
    The property is located at 3122 W 30th Street Cleveland, OH.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: 3 occupied units generating a combined $3,600/month in rental income; Front lower unit: 3 bed, 1 bath, leased for $1,000/month; Detached rear house: occupied and rented for $1,500/month
    (561) 901-9331
    We can help!
    Listing Contact
    Tera Somogyi
    Tera Somogyi
    Real Estate License ID: 2020005466
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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