Furnished Duplex with Updated
For Sale
$199,999
Pending
3579 Bosworth Rd, Cleveland, OH 44111
Two furnished residences are currently operated as short-term rentals and offer flexible occupancy options.
Property Size2,042 SF
Days on Market30
Property Features for 3579 Bosworth Rd
General Information
Standard status
Pending
Size
2,042 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,800
Listing Agency:
Keller Williams Chervenic Rlty
(440) 552-6959
Listed By:
Ricardo A Simonelli · License #2018004895
(440) 552-6959
Source:
Exprealty
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 29 at 3:09PM
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 Chervenic Rlty
Investment Insights
Based on property information with market context.
This 2,042-square-foot duplex contains two furnished residences, each with approximately 1,020 square feet, two bedrooms, and one full bathroom. Both units have been updated, and the property is currently operated as a short-term rental. The building was previously used for long-term rental occupancy, supporting flexibility in how the units may be operated.
The property is located at 3579 Bosworth Rd in Cleveland, Ohio, near shopping, dining, major highways, and Downtown Cleveland. Furnishings are included with the sale, providing a ready-to-use setup for continued rental operations or occupancy by an owner in one unit while the other is rented.
The property is located at 3579 Bosworth Rd in Cleveland, Ohio, near shopping, dining, major highways, and Downtown Cleveland. Furnishings are included with the sale, providing a ready-to-use setup for continued rental operations or occupancy by an owner in one unit while the other is rented.
Key Highlights
- Two‑unit duplex totaling 2,042 SF
- Each unit offers approximately 1,020 square feet, 2 bedrooms, and 1 full bathroom
- Both residences are furnished and updated
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
$18,097
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
9.05%
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%
$361,940
$361.9K
Cap Rate 7%
$258,529
$258.5K
Cap Rate 9%
$201,078
$201.1K
Market Conditions
NOI Build-Up for 2,042 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
$35.0K $17.16/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$32.9K $16.11/SF
− OpEx
−$14.8K −$7.25/SF
NOI
$18.1K $8.86/SF
Area
ZIP 44111
Vacancy
6.10%
Lease Rate
$17.16 /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%
$361,940
Cap Rate 7%
$258,529
Cap Rate 9%
$201,078
Alternative Uses
Best Use
Multifamily LT 5
$325.3K
$284.7K – $379.6K
NOI $22,774 @ 7.0% cap · market cap 11.39%
Second Best
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,097 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$384.5K
$336.4K – $448.6K
NOI $26,914 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
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
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 - Two furnished residences are currently operated as short-term rentals and offer flexible occupancy options.
Where is this duplex located?
The property is located at 3579 Bosworth Rd Cleveland, OH.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,042 SF; Each unit offers approximately 1,020 square feet, 2 bedrooms, and 1 full bathroom; Both residences are furnished and updated
