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    Updated Duplex with Income Potential

    5406 Theota Avenue Parma, OH 44129

    5406 Theota Avenue, Parma, OH, 44129
    $209,900
    Pending
    For Sale
    Claim this Listing
    $209,900
    Pending

    MULTI_FAMILY - Parma, OH

    Property Size1,814 SF
    Lot Size0.14 Acres
    AddedMay 27
    Days on Market50
    Last RefreshJul 15 at 2:06 am

    Property Features for 5406 Theota Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 4, Basement
    Parking features
    Garage
    Standard status
    Pending
    APN
    443-19-023
    Size
    1,814 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    4 RDGVWPK 0196 ALL
    Tax Annual Amount
    3239

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Gravity, Forced Air
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1933
    Floors in Building
    2
    Building materials
    VinylSiding
    Roof type
    Fiberglass, Asphalt

    Listing agent Steve Junker License #2016000959

    Listing office RE/MAX Above & Beyond 25021 Center Ridge Road, Middleburg Heights, OH

    Listing date May 27, 2026

    MLS# 5213016 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 multi-family home presents an opportunity for ownership with income potential and curb appeal. Exterior updates include siding and roofing, along with newer windows on the lower level. The updated lower level features remodeled hardwood floors throughout the family room and into the formal dining area, which includes built-in features. The layout extends into a large kitchen with counter space and an eat-in nook. The main lower unit includes a full bath and two bedrooms, also finished with hardwood flooring. A screened front porch provides additional outdoor space. The upstairs offers a separate living space. The upstairs unit is currently occupied. A new hot water tank is installed in one of the units, and there are two newer air conditioning units. The property is located in Parma, Ohio, within Cuyahoga County, and has a lot size of 0.1377 acres. The property size is 1814 square feet.

    Key Highlights

    • Duplex built in 1933 with separate living spaces and an upstairs unit currently occupied
    • Low‑maintenance exterior updates including vinyl siding and asphalt/fiberglass roofing
    • Newer windows on the lower level

    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 $29.4k $16.20
    − Vacancy −$1.9k −$1.05
    EGI $27.5k $15.15
    − OpEx −$8.2k −$4.54
    NOI $19.2k $10.60
    1,814 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $274.8K
    $240.4K – $320.6K (±1% cap)
    NOI $19,234 @ 7.0% cap · market cap 9.16%
    Second Best
    Apartment 5plus
    $256.2K
    $224.2K – $298.9K (±1% cap)
    NOI $17,932 @ 7.0% cap · market cap 8.54%
    Theoretical Best
    Warehouse
    $1.45M
    $1.27M – $1.70M (±1% cap)
    NOI $101,742 @ 7.0% cap · market cap 48.47%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Big Box & Wholesale Store Restaurant Gym & Fitness Center Building Supply Pharmacy Hotel & Motel Garden Center Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Low-maintenance duplex with updated features and strong income potential.
    Where is this duplex located?
    The property is located at 5406 Theota Avenue Parma, OH.
    What is the asking price?
    The asking price for this property is $209,900.
    What are key features of this property?
    This property features: Duplex built in 1933 with separate living spaces and an upstairs unit currently occupied; Low‑maintenance exterior updates including vinyl siding and asphalt/fiberglass roofing; Newer windows on the lower level
    Contact an agent
    (440) 537-0567
    We can help!
    Contact an agent
    Steve Junker
    Steve Junker
    Real Estate License ID: 2016000959
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