Side-by-Side
New
For Sale
$235,000
352 W Jackson Street, Painesville, OH 44077
ResidentialIncome, Painesville, OH
Property Size2,114 SF
Lot Size0.59 Acres
Price / SF$111.16
Days on Market6
Property Features for 352 W Jackson Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 3, Laundry Room, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5
Parking features
Garage, Oversize, Driveway
Interior features
InLawFloorplan, PrimaryDownstairs, Pantry, Storage
Exterior features
PrivateEntrance
Appliances
Range, Refrigerator
View
City
Elementary school district
Painesville City LSD - 4305
Middle school district
Painesville City LSD - 4305
High school district
Painesville City LSD - 4305
Directions
Many ways to get there. West off of Richmond Road. East of the 44 exit to Jackson.
Standard status
Active
APN
15-C-028-0-00-017-0
Size
2,114 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2101
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2011
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Additional Structures
Storage
Listing Agency:
HomeSmart Real Estate Momentum LLC · HomeSmart International
(440) 578-8058
Listed By:
Janice A Pikovnik · License #2005005494
(216) 559-7586
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 3 at 3:06AM
MLS# 5248846
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.
Investment Insights
Based on property information with market context.
This 2,114-square-foot duplex contains two side-by-side homes, each with its own entrance and basement area. Unit 1 has two first-floor bedrooms and a second-floor bonus room; Unit 2 includes a first-floor primary bedroom and two additional bedrooms upstairs. Both kitchens have newer ranges and refrigerators, and each basement includes laundry hookups. Separate utility meters serve the units. Updates completed in September 2026 included flooring, paint, kitchen fixtures and cabinetry, refreshed bathrooms, furnaces, and hot water tanks. The property’s effective year built is 2011.
The property occupies 0.59 acres in Painesville, near Lake Erie College and with access to Routes 2, 44, and 90. A garage and oversized driveway provide parking.
The property occupies 0.59 acres in Painesville, near Lake Erie College and with access to Routes 2, 44, and 90. A garage and oversized driveway provide parking.
Key Highlights
- Two side‑by‑side units with separate private entrances and utility meters
- 2,114 square feet on a 0.59‑acre lot
- Unit 1 has two first‑floor bedrooms and a second‑floor bonus room
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
$20,365
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
8.67%
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%
$407,300
$407.3K
Cap Rate 7%
$290,929
$290.9K
Cap Rate 9%
$226,278
$226.3K
Market Conditions
NOI Build-Up for 2,114 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
$38.8K $18.36/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$37.0K $17.52/SF
− OpEx
−$16.7K −$7.88/SF
NOI
$20.4K $9.63/SF
Area
Lake County, OH
Vacancy
4.60%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$407,300
Cap Rate 7%
$290,929
Cap Rate 9%
$226,278
Alternative Uses
Best Use
Multifamily LT 5
$327.5K
$286.6K – $382.1K
NOI $22,925 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$290.9K
$254.6K – $339.4K
NOI $20,365 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$488.3K
$427.2K – $569.6K
NOI $34,178 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 44077, OH
58,253
Population
24,928
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
60.5 sq mi
ZIP Area
963
Density / Sq Mi
$80,692
Median Household Income
$45,315
Median Earnings
$972
Median Rent
$217,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters and private unit entrances support independent occupancy.
Where is this duplex located?
The property is located at 352 W Jackson Street Painesville, OH.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two side‑by‑side units with separate private entrances and utility meters; 2,114 square feet on a 0.59‑acre lot; Unit 1 has two first‑floor bedrooms and a second‑floor bonus room
