Duplex with Attic Expansion
New
For Sale
$310,000
4912 Franklin Boulevard Cleveland OH 44102, Cleveland, OH 44102
Two distinct apartments offer separate layouts, with a sunroom in the lower unit and three bedrooms upstairs.
Property Size2,406 SF
Price / SF$128.84
Days on Market3
Property Features for 4912 Franklin Boulevard Cleveland OH 44102
General Information
Standard status
Active
Size
2,406 SF
Property subtype
ResidentialIncome
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1910
Buildings
1
Listing Agency:
RE/MAX Above & Beyond
Listed By:
Roger J Scheve · License #445006
(440) 477-1188
Source:
Search.reafcorealestate
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 5 at 3:05PM
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 RE/MAX Above & Beyond
Investment Insights
Based on property information with market context.
This 2,406-square-foot duplex contains two apartments. The first-floor unit has one bedroom, a living room, sunroom, eat-in kitchen, and in-unit stackable washer and dryer. The upper apartment includes three bedrooms, a living room, dining room, and kitchen. The attic may allow expansion of the upper unit, and the property is to be delivered vacant. Gas and electrical service are shared between the units.
A full walkout basement, one-car block garage, concrete driveway, and parking pad serve the property. Aluminum siding and vinyl replacement windows are additional building features. The address is in Cleveland’s Ohio City Historic District.
A full walkout basement, one-car block garage, concrete driveway, and parking pad serve the property. Aluminum siding and vinyl replacement windows are additional building features. The address is in Cleveland’s Ohio City Historic District.
Key Highlights
- 2,406‑square‑foot duplex with two apartments
- First‑floor unit includes a sunroom and in‑unit stackable washer and dryer
- Upper apartment has three bedrooms, living room, dining room, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,678
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,560
$533.6K
Cap Rate 7%
$381,114
$381.1K
Cap Rate 9%
$296,422
$296.4K
Market Conditions
NOI Build-Up for 2,406 SF
Gross rent
$50.5K $21.00/SF
− Vacancy
−$2.0K −$0.84/SF
EGI
$48.5K $20.16/SF
− OpEx
−$21.8K −$9.07/SF
NOI
$26.7K $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%
$533,560
Cap Rate 7%
$381,114
Cap Rate 9%
$296,422
Alternative Uses
Best Use
Multifamily LT 5
$410.8K
$359.5K – $479.3K
NOI $28,758 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$381.1K
$333.5K – $444.6K
NOI $26,678 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$587.1K
$513.8K – $685.0K
NOI $41,100 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,080
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct apartments offer separate layouts, with a sunroom in the lower unit and three bedrooms upstairs.
Where is this duplex located?
The property is located at 4912 Franklin Boulevard Cleveland OH 44102 Cleveland, OH.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2,406‑square‑foot duplex with two apartments; First‑floor unit includes a sunroom and in‑unit stackable washer and dryer; Upper apartment has three bedrooms, living room, dining room, and kitchen
