5589 Mayfield Road, Lyndhurst, OH 44124

Building Details

Building Size 2,494 SF More

Year Built 1954 More

Buildings 1 More

Stories 2 More

Construction brick More

Tenancy Single More

Listing Agency: RE/MAX Revealty

Listed By: Mark J Baughman · License #2006000772 Show Phone

Source: Lifestagesrealty

Added: Jul 22 Changed: Nov 8 Last Checked: Nov 7 at 7:17PM

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Investment Insights

Based on property information with market context.

This 2,494-square-foot brick duplex was built in 1954 and contains two units across its first and second floors, with four bedrooms and two bathrooms in total. Each unit has its own appliances, including a washer and dryer. Hardwood floors and updated mechanical systems are additional building features. A two-car garage is complemented by a concrete turnaround pad and outdoor parking. The second-floor unit has a one-year lease, while the first-floor unit is available for occupancy or rental.

Key Highlights

• 2,494‑square‑foot brick duplex built in 1954
• Four bedrooms and two bathrooms total across the two units
• Two‑car garage, concrete turnaround pad, and outdoor parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,155

Cap Rate

7.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$423,100 $423.1K

Cap Rate 7%

$302,214 $302.2K

Cap Rate 9%

$235,056 $235.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,494 SF

Gross rent

$32.3K $12.96/SF

− Vacancy

−$2.1K −$0.84/SF

EGI

$30.2K $12.12/SF

− OpEx

−$9.1K −$3.64/SF

NOI

$21.2K $8.48/SF

Area

ZIP 44124

Vacancy

6.50%

Lease Rate

$12.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$423,100

Cap Rate 7%

$302,214

Cap Rate 9%

$235,056

Alternative Uses

Best Use

Multifamily LT 5

$302.2K

$264.4K – $352.6K (±1% cap)

NOI $21,155 @ 7.0% cap · market cap 7.05%

Second Best

Apartment 5plus

$265.0K

$231.9K – $309.1K (±1% cap)

NOI $18,548 @ 7.0% cap · market cap 6.18%

Theoretical Best

Office A

$469.6K

$410.9K – $547.9K (±1% cap)

NOI $32,871 @ 7.0% cap · market cap 10.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

992

Businesses Nearby

Explore this area Business Placement

Demographics for 44124, OH

40,530

Population

20,064

Households

2

Avg Household Size

44

Median Age

51%

College-Educated

96%

High-School Grad

15.2 sq mi

ZIP Area

2,666

Density / Sq Mi

$78,895

Median Household Income

$55,741

Median Earnings

$1,132

Median Rent

$210,600

Median Home Value

Market

Average Price Trend$/SF for Duplexes in Cuyahoga County, OH

$79.21 Jul

$80.01 Aug

$79.57 Sep

$79.41 Oct

Properties on Market for Duplexes in Cuyahoga County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - The two-level property has separate appliances, hardwood flooring, and updated mechanical systems in both units.

Where is this duplex located?

The property is located at 5589 Mayfield Road Lyndhurst, OH.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 2,494‑square‑foot brick duplex built in 1954; Four bedrooms and two bathrooms total across the two units; Two‑car garage, concrete turnaround pad, and outdoor parking