Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Ashtabula Duplex: Investor Opportunity Title is generated by Realmo AI

    3835 Lake Avenue, Ashtabula, OH 44004

    View on Map
    Claim this Listing
    For Sale
    $144,000

    MULTI_FAMILY - Ashtabula, OH

    Property size:
    1,727 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $83/SF
    Added:
    Feb 18, 2026
    Days on Market:
    85
    Last Refresh:
    May 14 at 9:06 am

    Property Features for 3835 Lake Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Basement, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
    Parking features
    Garage, Paved or Surfaced, Oversize
    Standard status
    Active
    APN
    052170005200
    Size
    1,727 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    38 PARSONS
    Tax Annual Amount
    424

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    2
    Building materials
    WoodSiding
    Roof type
    Asphalt, Fiberglass

    We can help!

    Listing Contact
    Clorice L Vines

    Listing agent Clorice L Vines License #2025003178

    Listing office McDowell Homes Real Estate Services 7230 Mentor Avenue, Mentor, OH

    Listing date Feb 18, 2026

    MLS# 5187562 Listing URL

    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.

    HighLights

    • Immediate cash flow from two currently rented units.
    • Newer roof (5 years old) reduces immediate expenses.
    • Duplex offers income‑producing investment opportunity.
    • Detached garage and large driveway provide ample parking for tenants.
    • Convenient location close to shopping, restaurants, schools, and parks.
    • Opportunity to add value and build equity with some TLC.

    Overview

    This income-producing duplex in Ashtabula City presents an investor opportunity, situated close to shopping, restaurants, schools, parks, and everyday amenities. The property features two units: one spacious 3-bedroom, 1-bath unit and one comfortable 1-bedroom, 1-bath unit. Both units are currently rented, providing immediate cash flow. The property, with a total size of 1727 square feet on a 0.14-acre lot, requires some TLC, offering an opportunity for value addition and equity building. A notable feature is the roof, which is only 5 years old. Outside, there is a detached garage and a large driveway with ample parking for tenants. This multifamily property is located in Ashtabula, OH 44004.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ashtabula
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.786216
    Latitude
    41.872672

    Nearby Similar for Sale

    • $995,000

      Remodeled Restaurant with Liquor License

      Established restaurant location with recent updates and high traffic.
      5205 Lake Road W, Ashtabula, OH 44004
      View Details
    • $320,000

      Ashtabula Commercial Building For Sale

      5,412 SF commercial building suitable for retail or vehicle-related ventures.
      4714 Main Avenue, Ashtabula, OH 44004
      View Details
    • $119,900
      1,926 SF

      Ashtabula Duplex with Separate Utilities

      Up-and-down duplex with separate utilities and updated systems.
      4826 Cornell Avenue, Ashtabula, OH 44004
      View Details
    • $150,000
      2,992 SF

      Ashtabula Multifamily Investment Opportunity

      Four fully occupied units with immediate cash flow potential.
      3901-3915 N Ridge Road W, Ashtabula, OH 44004
      View Details
    • $148,000

      Updated Office Building in Ashtabula

      Updated office building with excellent visibility and accessibility in Ashtabula.
      3312 Lake Avenue, Ashtabula, OH 44004
      View Details
    • $169,900

      Ashtabula Triplex: Investment Opportunity

      Income-producing triplex with tenants in place in Ashtabula, Ohio.
      3829 Lake Avenue, Ashtabula, OH 44004
      View Details
    • $425,000
      10,452 SF

      Industrial Building with Crane Access

      10,452 SF industrial building featuring cranes and office space.
      237 State Road, Ashtabula, OH 44004
      View Details
    • $119,500

      Ashtabula Commercial Building with Loading

      6,000 SF building with loading docks on 0.96-acre lot.
      3104 State Road, Ashtabula, OH 44004
      View Details
    • $299,900

      Commercial Property on North Ridge

      Located on North Ridge Road E in Ashtabula, Ohio.
      5309 N Ridge Road E, Ashtabula, OH 44004
      View Details
    • $179,999

      Commercial Building on Main Avenue

      Commercial building for sale on Main Avenue, Ashtabula, Ohio.
      4420 Main Avenue, Ashtabula, OH 44004
      View Details
    • $392,000
      1,982 SF

      Ashtabula Credit Union For Sale

      1,982 SF credit union with corporate guarantee.
      4220 Main Ave, Ashtabula, OH 44004
      View Details
    • $1,995,722
      16,820 SF

      Anchored Retail Plaza For Sale

      Retail plaza with national tenants in Ashtabula, Ohio.
      2900-2916 N Ridge Rd E, Ashtabula, OH 44004
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-producing duplex with upside potential in a convenient location.
    Where is this duplex located?
    The property is located at 3835 Lake Avenue Ashtabula, OH.
    What is the asking price?
    The asking price for this property is $144,000.
    What are key features of this property?
    This property features: Immediate cash flow from two currently rented units.; Newer roof (5 years old) reduces immediate expenses.; Duplex offers income‑producing investment opportunity.
    (440) 812-2542
    We can help!
    Listing Contact
    Clorice L Vines
    Real Estate License ID: 2025003178
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3835 Lake Avenue, Ashtabula, OH 44004
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!