Two Cottage Residential Income
4970 & 4966 Presidential Avenue Geneva on the Lake, OH 44041
For Sale
$175,000
Pending
MULTI_FAMILY - Geneva on the Lake, OH
Property Size1,108 SF
Lot Size0.09 Acres
Days on Market72
Property Features for 4970 & 4966 Presidential Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 1
Interior features
EatInKitchen
Appliances
Range, Refrigerator
Standard status
Pending
APN
210320006500
Size
1,108 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
158 LOG CABIN ALLOT
Tax Annual Amount
811
Utilities
Sewer type
Public Sewer
Heating system
Space Heater
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1941
Floors in Building
1
Building materials
WoodSiding
Roof type
Metal
Listing Agency:
Keller Williams Greater Cleveland Northeast
(440) 255-5500
Listed By:
Jennifer L Allen · License #2003014671
(440) 796-4833
Added: May 19
Changed: Jul 28
Last Checked: Jul 29 at 12:06PM
MLS# 5211273
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 residential income property consists of two cottages at 4970 and 4966 Presidential Avenue, offering a total of 6 bedrooms and 2 full bathrooms. 4970 Presidential Avenue includes 4 bedrooms, a spacious living room, an eat-in kitchen, and a full bathroom, and the property features a newer metal roof. Both cottages include screened-in front porches.
The two addresses are located on the corner of Lake Road and Presidential Avenue, with utilities feeding the second home at 4966 Presidential Avenue. Public water and sewer are available. The listing notes smaller lots for lower yard maintenance and that the property is being sold as-is and cash only.
No heating sources are included. The seller would like to sell all together with an additional home at 4975 Presidential Avenue (MLS# 5211381).
The two addresses are located on the corner of Lake Road and Presidential Avenue, with utilities feeding the second home at 4966 Presidential Avenue. Public water and sewer are available. The listing notes smaller lots for lower yard maintenance and that the property is being sold as-is and cash only.
No heating sources are included. The seller would like to sell all together with an additional home at 4975 Presidential Avenue (MLS# 5211381).
Key Highlights
- Two cottages with a total of 6 bedrooms and 2 full bathrooms
- 4970 Presidential: 704 sq ft, 4 bedrooms, eat‑in kitchen, spacious living room, 1 full bathroom
- 4966 Presidential: 404 sq ft, 2 bedrooms, eat‑in kitchen, living room, 1 full bathroom
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.6k | $14.10 |
| − Vacancy | −$876 | −$0.79 |
| EGI | $14.7k | $13.31 |
| − OpEx | −$4.4k | −$3.99 |
| NOI | $10.3k | $9.32 |
1,108 SF · lease $14.10/SF/yr · vacancy 5.61% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$147.5K
$129.0K – $172.0K
NOI $10,322 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$135.7K
$118.7K – $158.3K
NOI $9,496 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$206.5K
$180.7K – $240.9K
NOI $14,453 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two adjacent cottages provide 6 total bedrooms and 2 full bathrooms, with newer metal roofs and screened front porches.
Where is this duplex located?
The property is located at 4970 & 4966 Presidential Avenue Geneva on the Lake, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two cottages with a total of 6 bedrooms and 2 full bathrooms; 4970 Presidential: 704 sq ft, 4 bedrooms, eat‑in kitchen, spacious living room, 1 full bathroom; 4966 Presidential: 404 sq ft, 2 bedrooms, eat‑in kitchen, living room, 1 full bathroom
