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    Multifamily Property in Cleveland, OH Title is generated by Realmo AI

    3459 W 50th Street, Cleveland, OH 44102

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    Claim this Listing
    For Sale
    Under Contract
    $145,000

    MULTI_FAMILY - Cleveland, OH

    Property size:
    1,814 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $79/SF
    Added:
    Feb 28, 2026
    Days on Market:
    95
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 3459 W 50th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Bathrooms
    2
    Rooms
    Bedroom 7, Bedroom 6, Laundry Room, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
    Parking features
    Garage, Driveway
    Standard status
    Active Under Contract
    APN
    016-20-052
    Size
    1,814 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    46 STORER 0078 NP
    Tax Annual Amount
    1351

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Building materials
    AluminumSiding, VinylSiding
    Roof type
    Asphalt, Shingle

    We can help!

    Listing Contact
    Angie Lopez
    Angie Lopez

    Listing agent Angie Lopez License #2021002776

    Listing office Keller Williams Citywide 2001 Crocker Road, Suite 200, Westlake, OH

    Listing date Feb 28, 2026

    MLS# 5188938 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

    • Strong income potential: ability to rent entire property for $2,200+ per month.
    • Multifamily property with two units: one 3‑bedroom unit rented at $1,000/month, one vacant 4‑bedroom unit.
    • Well‑maintained exterior, newly painted a few years ago.
    • Both units feature newer paint and newer flooring throughout.
    • Updated kitchens and bathrooms in both units.
    • Each unit includes its own laundry area.

    Overview

    Located on the Westside of Cleveland, this multifamily property presents an opportunity for both homeowners and investors. The building features two units; the first floor has three bedrooms, while the second floor offers four bedrooms. The downstairs unit is currently rented for $1,000 per month and is up to date with rent. The upstairs unit is vacant, presenting an opportunity to set your own rental rate. The property offers strong income potential, with the ability to rent the entire property for $2,200 or more per month. The exterior has been well-maintained and was recently painted a few years ago. Both units feature newer paint and flooring throughout. The kitchens and bathrooms in both units were replaced a few years ago and remain in excellent condition. Each unit also includes its own laundry area. The property size is 1,814 square feet and sits on a lot of 0.0875 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    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
    -81.721627
    Latitude
    41.460204

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    FAQs

    What type of property is this?
    Multifamily property - Multifamily property with strong income potential on Cleveland's Westside.
    Where is this multifamily property located?
    The property is located at 3459 W 50th Street Cleveland, OH.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: Strong income potential: ability to rent entire property for $2,200+ per month.; Multifamily property with two units: one 3‑bedroom unit rented at $1,000/month, one vacant 4‑bedroom unit.; Well‑maintained exterior, newly painted a few years ago.
    (216) 855-4477
    We can help!
    Listing Contact
    Angie Lopez
    Angie Lopez
    Real Estate License ID: 2021002776
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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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