Duplex Near Downtown
For Sale
Contact for pricing
9422 Parkview Avenue, Cleveland, OH 44104
Two units, each with 2 beds and 1 bath.
Property Size1,119 SF
Price / SF$16.98
Days on Market216
Property Features for 9422 Parkview Avenue
General Information
Standard status
Active
Size
1,119 SF
Property subtype
Multifamily
Building Details
Year Built
1918
Units
2
Listing Agency:
RE/MAX Impact
Listed By:
David Hight · License #2020009265
Source:
Crexi
Added: Mar 16
Changed: Oct 5
Last Checked: Oct 16 at 7:27AM
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 RE/MAX Impact
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Investment Insights
Based on property information with market context.
This duplex presents an investor opportunity, featuring two units. One unit provides approximately 1,110 square feet of living space, while the other offers around 1,119 square feet. Each unit includes 2 bedrooms and 1 bathroom. The property is situated approximately 8 miles from Downtown Cleveland. Given the strong rental demand in Cleveland and convenient access to major highways, this duplex is positioned for potential long-term cash flow and appreciation.
Key Highlights
- Investor opportunity with potential for cash flow and appreciation.
- Two units, each with 2 bedrooms and 1 bathroom.
- Unit sizes of approximately 1,110 sq ft and 1,119 sq ft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,407
Suggested Prices Based on Cap Rates
Cap Rate 5%
$248,140
$248.1K
Cap Rate 7%
$177,243
$177.2K
Cap Rate 9%
$137,856
$137.9K
Market Conditions
NOI Build-Up for 1,119 SF
Gross rent
$23.5K $21.00/SF
− Vacancy
−$940 −$0.84/SF
EGI
$22.6K $20.16/SF
− OpEx
−$10.2K −$9.07/SF
NOI
$12.4K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$248,140
Cap Rate 7%
$177,243
Cap Rate 9%
$137,856
Alternative Uses
Best Use
Multifamily LT 5
$191.1K
$167.2K – $222.9K
NOI $13,375 @ 7.0% cap · market cap 70.39%
Second Best
Apartment 5plus
$177.2K
$155.1K – $206.8K
NOI $12,407 @ 7.0% cap · market cap 65.30%
Theoretical Best
Office A
$273.1K
$238.9K – $318.6K
NOI $19,115 @ 7.0% cap · market cap 100.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 44104, OH
20,202
Population
9,851
Households
2.1
Avg Household Size
31
Median Age
10%
College-Educated
81%
High-School Grad
4.7 sq mi
ZIP Area
4,298
Density / Sq Mi
$24,009
Median Household Income
$25,679
Median Earnings
$654
Median Rent
$60,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two units, each with 2 beds and 1 bath.
Where is this duplex located?
The property is located at 9422 Parkview Avenue Cleveland, OH.
What are key features of this property?
This property features: Investor opportunity with potential for cash flow and appreciation.; Two units, each with **2 bedrooms and 1 bathroom.**; Unit sizes of approximately 1,110 sq ft and 1,119 sq ft.
