Occupied Two-Unit
For Sale
$364,000
912 Starkweather Ave, Cleveland, OH 44113
Two occupied residences offer an established rental configuration in Cleveland’s Tremont neighborhood.
Property Size1,974 SF
Price / SF$184.40
Days on Market47
Property Features for 912 Starkweather Ave
General Information
Standard status
Active
Size
1,974 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,602
Listing Agency:
Keller Williams Elevate
(440) 537-4502
Listed By:
Ahren L Booher · License #2010002612
(440) 537-4502
Source:
Exprealty
Added: Jul 15
Changed: Aug 20
Last Checked: Aug 29 at 11:41AM
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 Keller Williams Elevate
Investment Insights
Based on property information with market context.
Located at 912 Starkweather Avenue in Cleveland’s Tremont neighborhood, this two-family duplex contains two separate residential units. The unit mix includes one three-bedroom, one-bath residence and one two-bedroom, one-bath residence.
Both units are currently occupied, providing an existing rental setup for an investor or buyer expanding a residential income-property portfolio. The property is described as updated and well maintained, with a straightforward two-unit configuration.
Both units are currently occupied, providing an existing rental setup for an investor or buyer expanding a residential income-property portfolio. The property is described as updated and well maintained, with a straightforward two-unit configuration.
Key Highlights
- Two‑family duplex with 2 residential units
- Unit mix includes one 3‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit
- Both units currently occupied
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
$23,595
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
6.48%
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%
$471,900
$471.9K
Cap Rate 7%
$337,071
$337.1K
Cap Rate 9%
$262,167
$262.2K
Market Conditions
NOI Build-Up for 1,974 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
$35.3K $17.88/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$33.7K $17.08/SF
− OpEx
−$10.1K −$5.12/SF
NOI
$23.6K $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%
$471,900
Cap Rate 7%
$337,071
Cap Rate 9%
$262,167
Alternative Uses
Best Use
Multifamily LT 5
$337.1K
$294.9K – $393.3K
NOI $23,595 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$312.7K
$273.6K – $364.8K
NOI $21,888 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$481.7K
$421.5K – $562.0K
NOI $33,720 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 44113, OH
20,291
Population
12,554
Households
1.6
Avg Household Size
33
Median Age
54%
College-Educated
89%
High-School Grad
3.8 sq mi
ZIP Area
5,340
Density / Sq Mi
$70,140
Median Household Income
$61,204
Median Earnings
$1,374
Median Rent
$295,400
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 - Two occupied residences offer an established rental configuration in Cleveland’s Tremont neighborhood.
Where is this duplex located?
The property is located at 912 Starkweather Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $364,000.
What are key features of this property?
This property features: Two‑family duplex with 2 residential units; Unit mix includes one 3‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit; Both units currently occupied
