Renovated
For Sale
$299,000
4511 Fenwick Ave, Cleveland, OH 44102
The two-unit property has completed renovations and is currently generating rental income.
Property Size2,304 SF
Price / SF$129.77
Days on Market8
Property Features for 4511 Fenwick Ave
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Century 21 Homestar
Listed By:
Shane Reid shanereid97@gmail.com, 330-577-7080
Source:
Mystarkcountyhome
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 14 at 11:16PM
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 Century 21 Homestar
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Investment Insights
Based on property information with market context.
This duplex contains approximately 2,304 square feet, with four bedrooms and two full bathrooms in total. A comprehensive renovation followed prior fire damage, and the property is now in rental use with income being generated.
Built in 1900, the property is located on Cleveland’s west side, with access to major roadways, shopping, dining, and other amenities.
Built in 1900, the property is located on Cleveland’s west side, with access to major roadways, shopping, dining, and other amenities.
Key Highlights
- Renovated following prior fire damage
- Approximately 2,304 square feet
- Four bedrooms and two full bathrooms total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,547
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,940
$510.9K
Cap Rate 7%
$364,957
$365.0K
Cap Rate 9%
$283,856
$283.9K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$48.4K $21.00/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$46.4K $20.16/SF
− OpEx
−$20.9K −$9.07/SF
NOI
$25.5K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,940
Cap Rate 7%
$364,957
Cap Rate 9%
$283,856
Alternative Uses
Best Use
Multifamily LT 5
$393.4K
$344.2K – $459.0K
NOI $27,539 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$365.0K
$319.3K – $425.8K
NOI $25,547 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$562.2K
$492.0K – $656.0K
NOI $39,357 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
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 - The two-unit property has completed renovations and is currently generating rental income.
Where is this duplex located?
The property is located at 4511 Fenwick Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Renovated following prior fire damage; Approximately 2,304 square feet; Four bedrooms and two full bathrooms total
