Three-Unit Multifamily
New
For Sale
$495,000
4210 Clinton Avenue, Cleveland, OH 44113
ResidentialIncome, Cleveland, OH
Property Size2,800 SF
Lot Size0.14 Acres
Price / SF$176.79
Days on Market6
Property Features for 4210 Clinton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5
Parking features
Off Street, Alley, Driveway
Subdivision
Perkins
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
Just south of Detroit, just Eat of 44th st
Standard status
Active
APN
003-25-035
Size
2,800 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
50 PERKINS 0082 ALL
Tax Annual Amount
7132
Legal Description
50 PERKINS 0082 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1880
Floors in Building
3
Building materials
Concrete, VinylSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
Kyle M Lawrence · License #2014002273
(440) 346-0929
Added: Aug 25
Last Checked: Aug 30 at 12:06AM
MLS# 5239565
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 three-unit multifamily property contains 2,800 square feet on a 0.14-acre lot and was built in 1880. Two units are occupied by long-term tenants, while the upper unit is configured for short-term rental use. Interior features include hardwood flooring, high ceilings, contemporary finishes, modern kitchen and bath areas, and in-unit laundry. The property has concrete and vinyl siding construction, forced-air heating, window-unit cooling, an asphalt roof, and public water and sewer service.
Located at 4210 Clinton Avenue in Cleveland’s Ohio City area, the property is near West Side Market, Gordon Square Arts District, Edgewater Park, restaurants, cafes, and entertainment. Highway access is described as convenient, and the surrounding area is walkable. Parking is provided through a driveway, alley access, and off-street spaces, with 3 off-street parking spaces identified. The owner pays water; tenants are responsible for gas and electric.
Located at 4210 Clinton Avenue in Cleveland’s Ohio City area, the property is near West Side Market, Gordon Square Arts District, Edgewater Park, restaurants, cafes, and entertainment. Highway access is described as convenient, and the surrounding area is walkable. Parking is provided through a driveway, alley access, and off-street spaces, with 3 off-street parking spaces identified. The owner pays water; tenants are responsible for gas and electric.
Key Highlights
- Three‑unit property with 2,800 square feet on a 0.14‑acre lot
- Two occupied long‑term rental units plus an upper unit configured for short‑term rental use
- 3 off‑street parking spaces with driveway and alley access
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
$33,468
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
6.76%
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%
$669,360
$669.4K
Cap Rate 7%
$478,114
$478.1K
Cap Rate 9%
$371,867
$371.9K
Market Conditions
NOI Build-Up for 2,800 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
$50.1K $17.88/SF
− Vacancy
−$2.3K −$0.80/SF
EGI
$47.8K $17.08/SF
− OpEx
−$14.3K −$5.12/SF
NOI
$33.5K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /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%
$669,360
Cap Rate 7%
$478,114
Cap Rate 9%
$371,867
Alternative Uses
Best Use
Multifamily LT 5
$478.1K
$418.4K – $557.8K
NOI $33,468 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$443.5K
$388.1K – $517.4K
NOI $31,046 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$683.3K
$597.9K – $797.2K
NOI $47,830 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 44113, OH
20,291
Population
12,554
Households
1.6
Avg Household Size
33
Median Age
54%
College-Educated
89%
High-School Grad
3.8 sq mi
ZIP Area
5,340
Density / Sq Mi
$70,140
Median Household Income
$61,204
Median Earnings
$1,374
Median Rent
$295,400
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?
Triplex - Partially renovated building with hardwood floors, updated kitchens and baths, in-unit laundry, and off-street parking.
Where is this triplex located?
The property is located at 4210 Clinton Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Three‑unit property with 2,800 square feet on a 0.14‑acre lot; Two occupied long‑term rental units plus an upper unit configured for short‑term rental use; 3 off‑street parking spaces with driveway and alley access
