Leased Duplex with Updated
New
For Sale
$305,000
5714 Bridge Ave, Cleveland, OH 44102
Two separately accessed units offer in-unit laundry, updated finishes, off-street parking, and documented leases extending into 2029.
Property Size1,799 SF
Price / SF$169.54
Days on Market6
Property Features for 5714 Bridge Ave
General Information
Standard status
Active
Size
1,799 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$34,200
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,706
Amenities
in-unit laundry
private rooftop area
off-street parking
Building Details
Year Renovated
2026
Buildings
1
Listing Agency:
The Agency Cleveland Northcoast
(216) 415-7080
Listed By:
Candace Papotto · License #2019007055
(440) 212-4971
Source:
Exprealty
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 7:48AM
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 The Agency Cleveland Northcoast
Investment Insights
Based on property information with market context.
This two-family property includes 1,799 finished square feet above grade, a full basement, forced-air gas heat with central air, separately metered electric, and rear off-street parking. Both residences have individual access and in-unit laundry. The lower unit features an open living and dining layout, white shaker cabinetry, stainless appliances, stone countertops, a mosaic backsplash, two bedrooms, a bonus room with closet, and a renovated bath. The upper unit has an updated kitchen and bath, luxury vinyl tile, and access from the bedroom to a private rooftop area with deck potential.
Both units are leased under written agreements with scheduled increases extending into 2029. The lower residence is occupied by a corporate tenant under a three-year lease through August 2029, with written short-term rental authorization and tenant responsibility for lawn care, landscaping, and snow removal. Recent capital work includes a complete tear-off roof with architectural shingles, new siding over Tyvek house wrap, gutters, downspouts, east-elevation windows, and an air conditioning condenser. The property is registered as a rental with the City of Cleveland, and a certified lead risk assessment is underway.
Located at 5714 Bridge Ave in Cleveland, the property is approximately a half mile from Gordon Square and minutes from Ohio City, Edgewater, and downtown.
Both units are leased under written agreements with scheduled increases extending into 2029. The lower residence is occupied by a corporate tenant under a three-year lease through August 2029, with written short-term rental authorization and tenant responsibility for lawn care, landscaping, and snow removal. Recent capital work includes a complete tear-off roof with architectural shingles, new siding over Tyvek house wrap, gutters, downspouts, east-elevation windows, and an air conditioning condenser. The property is registered as a rental with the City of Cleveland, and a certified lead risk assessment is underway.
Located at 5714 Bridge Ave in Cleveland, the property is approximately a half mile from Gordon Square and minutes from Ohio City, Edgewater, and downtown.
Key Highlights
- 1,799 finished square feet above grade with a full basement
- Two separately accessed units with written leases extending into 2029
- 2026 complete tear‑off roof, new siding, gutters, downspouts, and east‑elevation windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,503
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,060
$430.1K
Cap Rate 7%
$307,186
$307.2K
Cap Rate 9%
$238,922
$238.9K
Market Conditions
NOI Build-Up for 1,799 SF
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.
Gross rent
$32.2K $17.88/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$30.7K $17.08/SF
− OpEx
−$9.2K −$5.12/SF
NOI
$21.5K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,060
Cap Rate 7%
$307,186
Cap Rate 9%
$238,922
Alternative Uses
Best Use
Multifamily LT 5
$307.2K
$268.8K – $358.4K
NOI $21,503 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$285.0K
$249.3K – $332.5K
NOI $19,947 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$439.0K
$384.1K – $512.2K
NOI $30,731 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately accessed units offer in-unit laundry, updated finishes, off-street parking, and documented leases extending into 2029.
Where is this duplex located?
The property is located at 5714 Bridge Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,799 finished square feet above grade with a full basement; Two separately accessed units with written leases extending into 2029; 2026 complete tear‑off roof, new siding, gutters, downspouts, and east‑elevation windows
