Duplex With Detached
For Sale
$285,000
3438 W 133rd St, Cleveland, OH 44111
Two separate apartments include individual living, dining, kitchen, bedroom, and full-bath areas.
Property Size1,612 SF
Price / SF$176.80
Days on Market10
Property Features for 3438 W 133rd St
General Information
Standard status
Active
Size
1,612 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,900
Amenities
covered front porch
mature landscaping
detached two-car garage
laundry
Building Details
Buildings
1
Construction
Craftsman
Listing Agency:
EXP Realty, LLC.
(866) 212-4991
Listed By:
Joe Vaccaro
(216) 731-9500
Source:
Exprealty
Added: Sep 24
Changed: Oct 1
Last Checked: Oct 3 at 1:30AM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
This two-unit residential property pairs distinct apartment layouts with a detached two-car garage and driveway parking. The first-floor apartment has two bedrooms, a full bath, a living room with a fireplace, and a dining room with built-in cabinetry. Its kitchen includes appliances. The upper apartment has one bedroom, a full bath, living and dining areas, and a kitchen with appliances. Laundry and storage are located in the basement.
Updates include a new roof in 2026. Work in the first-floor unit includes bedroom improvements in Dec. 2024, bathroom improvements in Dec. 2025, and kitchen flooring installed in Jan. 2025. In the upper apartment, bathroom updates were completed in Dec. 2024, followed by kitchen improvements in June 2026.
Updates include a new roof in 2026. Work in the first-floor unit includes bedroom improvements in Dec. 2024, bathroom improvements in Dec. 2025, and kitchen flooring installed in Jan. 2025. In the upper apartment, bathroom updates were completed in Dec. 2024, followed by kitchen improvements in June 2026.
Key Highlights
- Two apartments: a two‑bedroom first‑floor unit and a one‑bedroom upper unit
- Detached two‑car garage and driveway parking
- New roof in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,978
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$359,560
$359.6K
Cap Rate 7%
$256,829
$256.8K
Cap Rate 9%
$199,756
$199.8K
Market Conditions
NOI Build-Up for 1,612 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.5K $17.04/SF
− Vacancy
−$1.8K −$1.11/SF
EGI
$25.7K $15.93/SF
− OpEx
−$7.7K −$4.78/SF
NOI
$18.0K $11.15/SF
Area
ZIP 44111
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$359,560
Cap Rate 7%
$256,829
Cap Rate 9%
$199,756
Alternative Uses
Best Use
Multifamily LT 5
$256.8K
$224.7K – $299.6K
NOI $17,978 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.1K
NOI $14,286 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$303.5K
$265.6K – $354.1K
NOI $21,246 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments include individual living, dining, kitchen, bedroom, and full-bath areas.
Where is this duplex located?
The property is located at 3438 W 133rd St 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: Two apartments: a two‑bedroom first‑floor unit and a one‑bedroom upper unit; Detached two‑car garage and driveway parking; New roof in 2026
