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    Renovated Duplex Near MetroHealth Hospital Title is generated by Realmo AI

    3205 Trowbridge Avenue, Cleveland, OH 44109

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    Pending
    $230,000

    MULTI_FAMILY - Cleveland, OH

    Property size:
    1,632 SF
    Lot size:
    0.09 Acres
    Added:
    Feb 11, 2026
    Days on Market:
    99
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for 3205 Trowbridge Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bedroom 5, Basement, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Laundry Room, Bedroom 1
    Parking features
    Driveway
    Appliances
    Range, Refrigerator
    Standard status
    Pending
    APN
    015-09-073
    Size
    1,632 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    66 CURTISS 0029 WP
    Tax Annual Amount
    1312

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Building materials
    Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Jad Sandi

    Listing agent Jad Sandi License #2020005204

    Listing office LPT Realty 7055 Engle Rd., Building 6-601, Middleburg Hts, OH

    Listing date Feb 11, 2026

    MLS# 5186869 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

    • Turnkey, income‑producing duplex, fully renovated in 2025.
    • Currently tenant‑occupied with existing rental income ($1550/mo & $900/mo).
    • Separate gas and electric meters for each unit.
    • Convenient location near MetroHealth Hospital and 10 minutes from Downtown Cleveland.
    • Tenants interested in remaining, ensuring rental income continuity.
    • Appliances included: Range and Refrigerator.

    Overview

    This income-producing two-family property, fully renovated in 2025, presents a turnkey investment opportunity. Converted to a duplex, the building features separate gas and electric meters for each unit, facilitating efficient management of operating expenses. The property is currently tenant-occupied and generating rental income ($1550/month and $900/month). Tenants have expressed interest in remaining, offering potential continuity for the next owner. Conveniently located a short distance from MetroHealth Hospital and approximately 10 minutes from Downtown Cleveland, the location offers strong rental appeal with access to major employment, transportation, and amenities. The property size is 1632 square feet and the lot size is 0.093 acres. This is a well-positioned investment opportunity in a high-demand rental area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.704317
    Latitude
    41.461515

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    FAQs

    What type of property is this?
    Duplex - Turnkey duplex investment property near MetroHealth and Downtown Cleveland.
    Where is this duplex located?
    The property is located at 3205 Trowbridge Avenue Cleveland, OH.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Turnkey, income‑producing duplex, fully renovated in 2025.; Currently tenant‑occupied with existing rental income ($1550/mo & $900/mo).; Separate gas and electric meters for each unit.
    (216) 402-6024
    We can help!
    Listing Contact
    Jad Sandi
    Real Estate License ID: 2020005204
    Learn More
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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.

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