Brick Duplex with Two-Car
For Sale
$275,000
Pending
5603 Warwick Dr, Parma, OH 44129
Both residences have separate entrances, central air conditioning, and individual laundry hookups.
Property Size2,160 SF
Days on Market8
Property Features for 5603 Warwick Dr
General Information
Standard status
Pending
Size
2,160 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$24,000
Average Monthly Rent
$1,000
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
central air conditioning
back porch access
basement for storage
separate laundry hookups
Building Details
Year Built
1953
Buildings
1
Construction
brick
Listing Agency:
JAMM Real Estate Co.
Listed By:
Michael L Anter michaelanter22@gmail.com, 216-409-2888
Source:
Greaterclevelandhomesforsale
Added: Sep 29
Changed: Oct 5
Last Checked: Oct 5 at 7:09PM
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 JAMM Real Estate Co.
Investment Insights
Based on property information with market context.
This 2,160-square-foot brick duplex, built in 1953, contains two residences with two bedrooms and one full bathroom apiece. Both units include living rooms, dining areas, kitchens, separate front and side entrances, and access to a back porch. The property also has a basement with storage space and a two-car garage. Central air conditioning, separate laundry hookups, updated 100-amp electrical service, HVAC, and hot water tanks are among the building features; the roof dates to 2012.
Both units are tenant-occupied under month-to-month leases. Shopping, restaurants, parks, schools, and highway access are nearby.
Both units are tenant-occupied under month-to-month leases. Shopping, restaurants, parks, schools, and highway access are nearby.
Key Highlights
- 2,160‑square‑foot brick duplex built in 1953
- Two units, each with 2 bedrooms and 1 full bathroom
- Both units have separate front and side entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,902
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,040
$458.0K
Cap Rate 7%
$327,171
$327.2K
Cap Rate 9%
$254,467
$254.5K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$35.0K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.7K $15.15/SF
− OpEx
−$9.8K −$4.54/SF
NOI
$22.9K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,040
Cap Rate 7%
$327,171
Cap Rate 9%
$254,467
Alternative Uses
Best Use
Multifamily LT 5
$327.2K
$286.3K – $381.7K
NOI $22,902 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$305.0K
$266.9K – $355.9K
NOI $21,352 @ 7.0% cap · market cap 7.76%
Theoretical Best
Warehouse
$1.73M
$1.51M – $2.02M
NOI $121,148 @ 7.0% cap · market cap 44.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 44129, OH
28,803
Population
12,756
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,966
Density / Sq Mi
$67,619
Median Household Income
$39,174
Median Earnings
$1,024
Median Rent
$150,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences have separate entrances, central air conditioning, and individual laundry hookups.
Where is this duplex located?
The property is located at 5603 Warwick Dr Parma, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,160‑square‑foot brick duplex built in 1953; Two units, each with 2 bedrooms and 1 full bathroom; Both units have separate front and side entrances
