Triplex with
For Sale
$289,900
5935 State Route 46 NE, Cortland, OH 44410
ResidentialIncome, Cortland, OH
Property Size2,223 SF
Lot Size1.33 Acres
Price / SF$130.41
Days on Market8
Property Features for 5935 State Route 46 NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Laundry Room, Bathroom 3, Bedroom 5, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 4
Parking features
Garage
Appliances
Range, Refrigerator
Subdivision
Cowles
Lot features
Lake Front
View
Water
Elementary school district
Maplewood LSD - 7815
Middle school district
Maplewood LSD - 7815
High school district
Maplewood LSD - 7815
Directions
Route 88 to south on 46.
Standard status
Active
APN
35-085500
Size
2,223 SF
Lot size
1.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
11 2 90X667.38 COWLES PT SR 1.331A 46
Tax Annual Amount
2115
Legal Description
11 2 90X667.38 COWLES PT SR 1.331A 46
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas, Baseboard
Water source
Well
Water front features
Lake Front
Water front
1
Amenities
laundry
raised rear patio
Building Details
Year built
1955
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Brokers Realty Group · Real Living
(330) 856-7777
Listed By:
Allison McGregor · License #2022003144
(330) 980-2976
Added: Oct 7
Changed: Oct 9
Last Checked: Oct 14 at 7:06AM
MLS# 5251120
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 2,223-square-foot triplex on 1.33 acres is configured with three apartments and is tenant occupied. Two ground-floor units each have two bedrooms, a full bath, a kitchen, and a living room. The upper apartment includes a central great room, walk-in pantry, and access to a raised rear patio. A stairway chair lift connects to the upper suite from an oversized pass-through garage. The separate rear shop features multiple bay doors, a concrete floor, an oversized lift, a corner bath, and loft catwalk storage.
The property has lakefront features and was built in 1955. On-site improvements also include an attached garage, shared front parking, and a laundry room.
The property has lakefront features and was built in 1955. On-site improvements also include an attached garage, shared front parking, and a laundry room.
Key Highlights
- Three tenant‑occupied apartments in a 2,223‑square‑foot building
- Two ground‑floor apartments each have two bedrooms and one full bath
- Upper apartment includes a great room, walk‑in pantry, and raised rear patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,332
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,640
$366.6K
Cap Rate 7%
$261,886
$261.9K
Cap Rate 9%
$203,689
$203.7K
Market Conditions
NOI Build-Up for 2,223 SF
Gross rent
$28.0K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$26.2K $11.78/SF
− OpEx
−$7.9K −$3.53/SF
NOI
$18.3K $8.25/SF
Area
Trumbull County, OH
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,640
Cap Rate 7%
$261,886
Cap Rate 9%
$203,689
Alternative Uses
Best Use
Multifamily LT 5
$261.9K
$229.2K – $305.5K
NOI $18,332 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$242.9K
$212.5K – $283.3K
NOI $17,000 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$421.9K
$369.2K – $492.3K
NOI $29,536 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 44410, OH
16,824
Population
7,948
Households
2.1
Avg Household Size
49
Median Age
29%
College-Educated
95%
High-School Grad
65.4 sq mi
ZIP Area
257
Density / Sq Mi
$63,158
Median Household Income
$45,447
Median Earnings
$762
Median Rent
$174,600
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are complemented by garage space and a separate shop with multiple bay doors.
Where is this triplex located?
The property is located at 5935 State Route 46 NE Cortland, OH.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Three tenant‑occupied apartments in a 2,223‑square‑foot building; Two ground‑floor apartments each have two bedrooms and one full bath; Upper apartment includes a great room, walk‑in pantry, and raised rear patio
