Updated Side-by-Side
For Sale
$384,000
3454 Ingleside Rd, Shaker Heights, OH 44122
Two connected residential units offer flexible living arrangements near the Van Aken District, parks, shopping, dining, and downtown access.
Property Size2,980 SF
Price / SF$128.86
Days on Market12
Property Features for 3454 Ingleside Rd
General Information
Standard status
Active
Size
2,980 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Keller Williams Greater Cleveland Northeast
(216) 536-8597
Listed By:
Iris Wheeler · License #2021002542
Source:
Theacclaimedrealty
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 5:06PM
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 Keller Williams Greater Cleveland Northeast
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,980 square feet across two residential units, with 8 bedrooms and 2 bathrooms. Built in 1925, the property has been updated with new flooring on the main level and features an open arrangement connecting the kitchen, dining area, and living room. A kitchen bar adds seating and separates the cooking area from the shared living spaces. Upper-level accommodations include spacious bedrooms, an updated full bathroom, and a third-floor primary bedroom with an additional bonus room. The bonus room can function as office, dressing, hobby, exercise, sitting, or storage space.
The property is located at 3454 Ingleside Rd in Shaker Heights, near the Van Aken District, parks, restaurants, coffee shops, shopping, entertainment, local amenities, and downtown. POS compliant.
The property is located at 3454 Ingleside Rd in Shaker Heights, near the Van Aken District, parks, restaurants, coffee shops, shopping, entertainment, local amenities, and downtown. POS compliant.
Key Highlights
- Side‑by‑side duplex with 2,980 square feet
- 8 bedrooms and 2 bathrooms
- Built in 1925 with updated main‑level flooring
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
$31,597
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
8.23%
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%
$631,940
$631.9K
Cap Rate 7%
$451,386
$451.4K
Cap Rate 9%
$351,078
$351.1K
Market Conditions
NOI Build-Up for 2,980 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
$48.3K $16.20/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$45.1K $15.15/SF
− OpEx
−$13.5K −$4.54/SF
NOI
$31.6K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$631,940
Cap Rate 7%
$451,386
Cap Rate 9%
$351,078
Alternative Uses
Best Use
Multifamily LT 5
$451.4K
$395.0K – $526.6K
NOI $31,597 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$420.8K
$368.2K – $491.0K
NOI $29,458 @ 7.0% cap · market cap 7.67%
Theoretical Best
Warehouse
$2.39M
$2.09M – $2.79M
NOI $167,139 @ 7.0% cap · market cap 43.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 44122, OH
36,268
Population
17,795
Households
2
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,901
Density / Sq Mi
$97,469
Median Household Income
$58,334
Median Earnings
$1,509
Median Rent
$304,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two connected residential units offer flexible living arrangements near the Van Aken District, parks, shopping, dining, and downtown access.
Where is this duplex located?
The property is located at 3454 Ingleside Rd Shaker Heights, OH.
What is the asking price?
The asking price for this property is $384,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,980 square feet; 8 bedrooms and 2 bathrooms; Built in 1925 with updated main‑level flooring
