Two Cottage Residential Income
4970 & 4966 Presidential Avenue Geneva on the Lake, OH 44041
4970 & 4966 Presidential Avenue, Geneva on the Lake, OH, 44041
$175,000
Pending
For Sale
$175,000
Pending
MULTI_FAMILY - Geneva on the Lake, OH
Property Size1,108 SF
Lot Size0.09 Acres
Days on Market64
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 5, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 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
7400 Center Street, Mentor, OH
Listed by
Jennifer L Allen · License #2003014671
(440) 796-4833
Added: May 19 Updated: Jul 17 at 10:18 pm Checked: Jul 21 at 5:06 am
MLS# 5211273
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.
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
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
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
