Updated Duplex with Finished
New
For Sale
$450,000
3713 Menlo Road, Shaker Heights, OH 44120
ResidentialIncome, Shaker Heights, OH
Property Size2,526 SF
Lot Size0.10 Acres
Price / SF$178.15
Days on Market3
Property Features for 3713 Menlo Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 4, Laundry Room, Bathroom 3, Bedroom 3
Parking features
Garage
Exterior features
Balcony
Appliances
Dryer, Dishwasher, Range, Refrigerator, Washer
Subdivision
Crawford Realty Companys East
Elementary school district
Shaker Heights CSD - 1827
Middle school district
Shaker Heights CSD - 1827
High school district
Shaker Heights CSD - 1827
Directions
Off of Scottsdale Blvd, between Pennington Rd and E 154th St
Standard status
Active
APN
735-20-131
Size
2,526 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
52 EVW 0072 ALL
Tax Annual Amount
2956
Legal Description
52 EVW 0072 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Building materials
Frame
Roof type
Asphalt, Shingle
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Shoshana Socher · License #2006000982
(216) 255-7377
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 18 at 10:06AM
MLS# 5240265
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 Shaker Heights duplex includes 4 bedrooms and 3 bathrooms across a configuration with living space, an eat-in kitchen, a second-floor kitchenette, a finished third floor, and a full basement. The basement includes a gym area, movie room, laundry room, and storage space. A two-car detached garage, yard, and balcony provide additional property features.
Recent improvements include new HVAC units, kitchen appliances, a roof installed in 2026, and a waterproofing membrane. The property has frame construction, forced-air heating, central air, an asphalt shingle roof, public water, and public sewer. Included appliances are a washer, dryer, dishwasher, range, and refrigerator.
The property is located at 3713 Menlo Road in Shaker Heights, near University Circle, the Van Aken District, Little Italy, and Downtown Cleveland.
Recent improvements include new HVAC units, kitchen appliances, a roof installed in 2026, and a waterproofing membrane. The property has frame construction, forced-air heating, central air, an asphalt shingle roof, public water, and public sewer. Included appliances are a washer, dryer, dishwasher, range, and refrigerator.
The property is located at 3713 Menlo Road in Shaker Heights, near University Circle, the Van Aken District, Little Italy, and Downtown Cleveland.
Key Highlights
- 4‑bedroom, 3‑bathroom duplex in Shaker Heights
- 2,526 square feet of property size
- Finished third floor and full basement
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
$26,783
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
5.95%
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%
$535,660
$535.7K
Cap Rate 7%
$382,614
$382.6K
Cap Rate 9%
$297,589
$297.6K
Market Conditions
NOI Build-Up for 2,526 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
$40.9K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.3K $15.15/SF
− OpEx
−$11.5K −$4.54/SF
NOI
$26.8K $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 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%
$535,660
Cap Rate 7%
$382,614
Cap Rate 9%
$297,589
Alternative Uses
Best Use
Multifamily LT 5
$382.6K
$334.8K – $446.4K
NOI $26,783 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$356.7K
$312.1K – $416.2K
NOI $24,970 @ 7.0% cap · market cap 5.55%
Theoretical Best
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,676 @ 7.0% cap · market cap 31.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 44120, OH
34,611
Population
20,583
Households
1.7
Avg Household Size
40
Median Age
37%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,656
Density / Sq Mi
$46,326
Median Household Income
$36,549
Median Earnings
$890
Median Rent
$115,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with refreshed systems, two-car detached garage, finished third floor, and public utilities.
Where is this duplex located?
The property is located at 3713 Menlo Road Shaker Heights, OH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 4‑bedroom, 3‑bathroom duplex in Shaker Heights; 2,526 square feet of property size; Finished third floor and full basement
