Renovated
For Sale
$174,900
3305 Roanoke Ave, Cleveland, OH 44109
Fully occupied two-unit property with recent improvements to the upper residence and established rental operations.
Property Size1,355 SF
Price / SF$129.08
Days on Market50
Property Features for 3305 Roanoke Ave
General Information
Standard status
Active
Size
1,355 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Old Brooklyn
Highway Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
RE/MAX Crossroads Properties
Listed By:
Cole Belter · License #2024004251
(440) 781-4531
Source:
Theacclaimedrealty
Added: Sep 5
Changed: Oct 14
Last Checked: Oct 7 at 2:15PM
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
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Investment Insights
Based on property information with market context.
This duplex contains 1,355 square feet and was built in 1920. The upper residence has undergone a full renovation with updated finishes, while the lower residence remains occupied. Both units provide practical layouts suited to residential rental use, with existing tenancy in place across the property.
The property is located at 3305 Roanoke Ave in Cleveland, Ohio, near shopping, restaurants, parks, and major highways. Its access to everyday amenities supports convenient residential use and complements the current rental setup. Recent improvements to the upper unit reduce the immediate need for additional work, while the occupied lower unit adds continuity to the property’s existing operations.
The property is located at 3305 Roanoke Ave in Cleveland, Ohio, near shopping, restaurants, parks, and major highways. Its access to everyday amenities supports convenient residential use and complements the current rental setup. Recent improvements to the upper unit reduce the immediate need for additional work, while the occupied lower unit adds continuity to the property’s existing operations.
Key Highlights
- Fully rented duplex with two occupied residences
- 1,355 square feet of total property size
- Upper unit fully renovated with updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,024
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,480
$300.5K
Cap Rate 7%
$214,629
$214.6K
Cap Rate 9%
$166,933
$166.9K
Market Conditions
NOI Build-Up for 1,355 SF
Gross rent
$28.5K $21.00/SF
− Vacancy
−$1.1K −$0.84/SF
EGI
$27.3K $20.16/SF
− OpEx
−$12.3K −$9.07/SF
NOI
$15.0K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,480
Cap Rate 7%
$214,629
Cap Rate 9%
$166,933
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $269.9K
NOI $16,196 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$214.6K
$187.8K – $250.4K
NOI $15,024 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$330.7K
$289.3K – $385.8K
NOI $23,146 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with recent improvements to the upper residence and established rental operations.
Where is this duplex located?
The property is located at 3305 Roanoke Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Fully rented duplex with two occupied residences; 1,355 square feet of total property size; Upper unit fully renovated with updated finishes
