Brick Duplex with Detached
For Sale
$349,900
3710 Lynnfield Rd, Shaker Heights, OH 44122
Both residences are leased, with current terms extending into 2027 and 2028.
Property Size2,951 SF
Price / SF$118.57
Days on Market9
Property Features for 3710 Lynnfield Rd
General Information
Standard status
Active
Size
2,951 SF
Total Parking Spaces
3
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Moreland
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,442
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Lokal Real Estate, LLC.
(216) 252-6580
Listed By:
Mario Russo · License #2016001126
(440) 781-6885
Source:
Exprealty
Added: Oct 27
Changed: Nov 3
Last Checked: Nov 3 at 3:04PM
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 Lokal Real Estate, LLC.
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Investment Insights
Based on property information with market context.
This 2,951-square-foot, all-brick duplex in Shaker Heights contains two occupied residences. Interior details include hardwood flooring, generous living areas, and dining rooms with built-in features. A full basement offers storage and shared space, while a detached garage accommodates three cars.
The upper residence is leased through April 2027, and the lower residence has a lease running through March 2028. The property is located at 3710 Lynnfield Rd in Shaker Heights, Ohio.
The upper residence is leased through April 2027, and the lower residence has a lease running through March 2028. The property is located at 3710 Lynnfield Rd in Shaker Heights, Ohio.
Key Highlights
- 2,951‑square‑foot, all‑brick duplex
- Both units occupied; upper lease runs through April 2027 and lower through March 2028
- Detached three‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,289
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,780
$625.8K
Cap Rate 7%
$446,986
$447.0K
Cap Rate 9%
$347,656
$347.7K
Market Conditions
NOI Build-Up for 2,951 SF
Gross rent
$47.8K $16.20/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$44.7K $15.15/SF
− OpEx
−$13.4K −$4.54/SF
NOI
$31.3K $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%
$625,780
Cap Rate 7%
$446,986
Cap Rate 9%
$347,656
Alternative Uses
Best Use
Multifamily LT 5
$447.0K
$391.1K – $521.5K
NOI $31,289 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$416.7K
$364.7K – $486.2K
NOI $29,172 @ 7.0% cap · market cap 8.34%
Theoretical Best
Warehouse
$2.36M
$2.07M – $2.76M
NOI $165,513 @ 7.0% cap · market cap 47.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
572
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, with current terms extending into 2027 and 2028.
Where is this duplex located?
The property is located at 3710 Lynnfield Rd Shaker Heights, OH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,951‑square‑foot, all‑brick duplex; Both units occupied; upper lease runs through April 2027 and lower through March 2028; Detached three‑car garage
