Brick Ranch
For Sale
$335,000
3823-3827 Richlawn Road, Richfield, OH 44286
MULTI_FAMILY - Richfield, OH
Property Size1,755 SF
Lot Size0.63 Acres
Price / SF$190.88
Days on Market20
Property Features for 3823-3827 Richlawn Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Driveway
Interior features
CeilingFans, EatInKitchen, GraniteCounters
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, WaterSoftener, Washer
Lot features
Flat, Level
Elementary school district
Revere LSD - 7712
Middle school district
Revere LSD - 7712
High school district
Revere LSD - 7712
Directions
From I-77 N: Take exit 138 towards Ghent Rd. Turn left onto Ghent Rd. Turn right onto Everett Rd. Turn left onto Donna Dr. Turn right onto Richlawn Rd.
Standard status
Active
APN
5001033
Size
1,755 SF
Lot size
0.63 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3616
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1961
Floors in Building
1
Building materials
Brick
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Chervenic Rlty · Keller Williams Realty
(330) 836-4300
Listed By:
Aimee Neiman · License #2020001502
(330) 620-1123
Added: Jul 21
Changed: Aug 1
Last Checked: Aug 9 at 6:06AM
MLS# 5229512
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.
Located at 3823-3827 Richlawn Road in Richfield, this brick ranch duplex sits on 0.63 acres and was built in 1961. The property totals 1,755 square feet and is served by a well water source and public sewer.
Both the left- and right-side units are occupied. The left-side unit is extensively updated with new windows, central air, granite countertops, and a custom shower, and includes in-unit laundry features. Heating is natural gas forced air with central air cooling. The left-side lease runs through 7/31/26 and the right-side lease runs through 8/31/26, with both transitioning to month-to-month tenancy once the current terms expire.
Additional interior features include ceiling fans and an eat-in kitchen, along with a driveway for parking. The duplex is within the Revere School District.
Both the left- and right-side units are occupied. The left-side unit is extensively updated with new windows, central air, granite countertops, and a custom shower, and includes in-unit laundry features. Heating is natural gas forced air with central air cooling. The left-side lease runs through 7/31/26 and the right-side lease runs through 8/31/26, with both transitioning to month-to-month tenancy once the current terms expire.
Additional interior features include ceiling fans and an eat-in kitchen, along with a driveway for parking. The duplex is within the Revere School District.
Key Highlights
- Brick ranch duplex built in 1961 with brick construction
- 0.63‑acre lot and 1,755 SF total building area
- Central air and natural gas forced‑air heat
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
$16,072
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
4.80%
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%
$321,440
$321.4K
Cap Rate 7%
$229,600
$229.6K
Cap Rate 9%
$178,578
$178.6K
Market Conditions
NOI Build-Up for 1,755 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
$24.2K $13.80/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$23.0K $13.08/SF
− OpEx
−$6.9K −$3.92/SF
NOI
$16.1K $9.16/SF
Area
Summit County, OH
Vacancy
5.20%
Lease Rate
$13.80 /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%
$321,440
Cap Rate 7%
$229,600
Cap Rate 9%
$178,578
Alternative Uses
Best Use
Multifamily LT 5
$229.6K
$200.9K – $267.9K
NOI $16,072 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$201.0K
$175.9K – $234.5K
NOI $14,070 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$430.7K
$376.9K – $502.5K
NOI $30,148 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 44286, OH
6,258
Population
2,770
Households
2.3
Avg Household Size
51
Median Age
50%
College-Educated
98%
High-School Grad
23.6 sq mi
ZIP Area
265
Density / Sq Mi
$115,227
Median Household Income
$65,121
Median Earnings
$1,082
Median Rent
$388,300
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 - Brick ranch duplex on Richlawn Road with two leased units, central air, and updated interiors featuring granite counters.
Where is this duplex located?
The property is located at 3823-3827 Richlawn Road Richfield, OH.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Brick ranch duplex built in 1961 with brick construction; 0.63‑acre lot and 1,755 SF total building area; Central air and natural gas forced‑air heat
