Renovated Duplex with Two-Car
New
For Sale
$339,000
5714 Gerald Avenue, Parma, OH 44129
ResidentialIncome, Parma, OH
Property Size2,296 SF
Lot Size0.11 Acres
Price / SF$147.65
Days on Market2
Property Features for 5714 Gerald Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Basement, Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 1
Parking features
Garage
Fencing
Privacy
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Ridgewood Gardens Anx
Elementary school district
Parma CSD - 1824
Middle school district
Parma CSD - 1824
High school district
Parma CSD - 1824
Directions
NE
Standard status
Active
APN
443-08-080
Size
2,296 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
5 RDGW GAR ANNEX 1077 ALL
Tax Annual Amount
4379
Legal Description
5 RDGW GAR ANNEX 1077 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
basement
rear porch
Building Details
Year built
1960
Floors in Building
2
Building materials
Brick
Roof type
Asphalt, Fiberglass
Listing Agency:
EXP Realty, LLC.
(866) 212-4991
Listed By:
George Vujadinovic · License #2021003089
(440) 502-9128
Added: Sep 25
Last Checked: Sep 26 at 8:06AM
MLS# 5248065
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 brick duplex in Parma contains two residences, each configured with three bedrooms and one bathroom. Both kitchens have been updated and include stainless steel appliances. The property also has a two-car garage, basement storage, and a rear porch. Built in 1960, the building has undergone extensive renovation, including replacement electrical wiring, roof, windows, drywall, trim, flooring, and bathroom finishes.
At 5714 Gerald Avenue, the property occupies a 0.1093-acre lot. Public water and sewer serve the building; heating is forced-air natural gas, and cooling is central air. The kitchens are equipped with ranges, refrigerators, dishwashers, and microwaves.
At 5714 Gerald Avenue, the property occupies a 0.1093-acre lot. Public water and sewer serve the building; heating is forced-air natural gas, and cooling is central air. The kitchens are equipped with ranges, refrigerators, dishwashers, and microwaves.
Key Highlights
- Two duplex residences, each with 3 bedrooms and 1 bathroom
- Brick construction; built in 1960
- 0.1093‑acre lot
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
$24,344
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
7.18%
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%
$486,880
$486.9K
Cap Rate 7%
$347,771
$347.8K
Cap Rate 9%
$270,489
$270.5K
Market Conditions
NOI Build-Up for 2,296 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
$37.2K $16.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$34.8K $15.15/SF
− OpEx
−$10.4K −$4.54/SF
NOI
$24.3K $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 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%
$486,880
Cap Rate 7%
$347,771
Cap Rate 9%
$270,489
Alternative Uses
Best Use
Multifamily LT 5
$347.8K
$304.3K – $405.7K
NOI $24,344 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$324.2K
$283.7K – $378.3K
NOI $22,697 @ 7.0% cap · market cap 6.70%
Theoretical Best
Warehouse
$1.84M
$1.61M – $2.15M
NOI $128,776 @ 7.0% cap · market cap 37.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
518
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence offers three bedrooms, a remodeled kitchen, and a full bathroom.
Where is this duplex located?
The property is located at 5714 Gerald Avenue Parma, OH.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two duplex residences, each with 3 bedrooms and 1 bathroom; Brick construction; built in 1960; 0.1093‑acre lot
