Two-Unit Duplex with
For Sale
$375,000
3646 Lynnfield Road, Shaker Heights, OH 44122
Both residences have rear porches, updated electrical panels, and laundry access, with a three-car garage on site.
Property Size2,767 SF
Price / SF$135.53
Days on Market162
Property Features for 3646 Lynnfield Road
General Information
Standard status
Active
Size
2,767 SF
Property subtype
Duplex
Site & Location
Neighborhood
Moreland
Taxes and HOA fees
Annual Taxes
$5,621
Building Details
Building Size
2,767 SF
Year Built
1920
Listing Agency:
BHR & Associates
Listed By:
Victoria D Johnson · License #2001010923
(216) 780-1009
Source:
Lifestagesrealty
Added: May 26
Changed: Nov 2
Last Checked: Nov 1 at 1:19PM
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 BHR & Associates
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Investment Insights
Based on property information with market context.
This two-family property was built in 1920 and includes hardwood floors, formal dining rooms with built-in cabinetry, and decorative fireplaces. The second-floor living room features a vaulted beam ceiling, French doors, and a Juliet loft area. Two bedrooms are located on the second floor, with two more bedrooms, a full bath, and storage space on the third floor. Both units have rear porches and updated electrical panels; basement laundry facilities serve both residences, and the appliances remain. The bathrooms have been updated, and most windows are vinyl.
A three-car garage is complemented by additional parking alongside it. Newer water and sewer lines and a copper water line serve the property. Travel connections include the Van Aken District, Cleveland Clinic, University Hospitals, the Rapid railway to Downtown Cleveland, and Cleveland Hopkins Airport.
A three-car garage is complemented by additional parking alongside it. Newer water and sewer lines and a copper water line serve the property. Travel connections include the Van Aken District, Cleveland Clinic, University Hospitals, the Rapid railway to Downtown Cleveland, and Cleveland Hopkins Airport.
Key Highlights
- Two‑family property built in 1920
- Three‑car garage plus parking alongside the garage
- Two bedrooms on the second floor and two bedrooms on the third floor, with a full bath and storage area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,338
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,760
$586.8K
Cap Rate 7%
$419,114
$419.1K
Cap Rate 9%
$325,978
$326.0K
Market Conditions
NOI Build-Up for 2,767 SF
Gross rent
$44.8K $16.20/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$41.9K $15.15/SF
− OpEx
−$12.6K −$4.54/SF
NOI
$29.3K $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 Rate 5%
$586,760
Cap Rate 7%
$419,114
Cap Rate 9%
$325,978
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,338 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$390.8K
$341.9K – $455.9K
NOI $27,353 @ 7.0% cap · market cap 7.29%
Theoretical Best
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,193 @ 7.0% cap · market cap 41.38%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have rear porches, updated electrical panels, and laundry access, with a three-car garage on site.
Where is this duplex located?
The property is located at 3646 Lynnfield Road Shaker Heights, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑family property built in 1920; Three‑car garage plus parking alongside the garage; Two bedrooms on the second floor and two bedrooms on the third floor, with a full bath and storage area
