Two-Unit Ranch
For Sale
$310,000
9751 Cutts Road, Chardon, OH 44024
Residential, Chardon, OH
Property Size2,012 SF
Lot Size1.00 Acre
Price / SF$154.08
Days on Market9
Property Features for 9751 Cutts Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Kitchen, Bedroom 4, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 3, Bathroom 2
Parking features
Driveway, Garage
Window features
Aluminum Frames
Exterior features
PrivateEntrance, Storage
Fireplace
1
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
Bond Tr
Lot features
Corner Lot, Front Yard
Elementary school district
Chardon LSD - 2803
Middle school district
Chardon LSD - 2803
High school district
Chardon LSD - 2803
Directions
Corner of Woodin Rd and Cutts
Standard status
Active
APN
15-028250
Size
2,012 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 23 BOND TR
Tax Annual Amount
2814
Legal Description
LOT 23 BOND TR
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1966
Floors in Building
1
Building materials
VinylSiding
Roof type
Asphalt, Fiberglass
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Keller Williams Greater Cleveland Northeast · Keller Williams Realty
(440) 255-5500
Listed By:
Peter Paparizos · License #2020006562
(440) 463-2999
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 31 at 6:06PM
MLS# 5237004
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 two-unit residential property combines a ranch-style main home with a separate one-bedroom, one-bath suite positioned above the garage. The primary residence includes three bedrooms and one bathroom, while the additional unit has its own private entrance and offers flexible occupancy or rental use. The property is tenant-occupied and currently generating income.
Built in 1966, the 2,012-square-foot property sits on 1 acre and includes a garage, driveway parking, storage, central air, and forced-air heat. The home features vinyl siding, asphalt and fiberglass roofing, a fireplace, washer and dryer, range, and refrigerator. A private well and septic tank serve the property, which is located in Chardon, Ohio.
Built in 1966, the 2,012-square-foot property sits on 1 acre and includes a garage, driveway parking, storage, central air, and forced-air heat. The home features vinyl siding, asphalt and fiberglass roofing, a fireplace, washer and dryer, range, and refrigerator. A private well and septic tank serve the property, which is located in Chardon, Ohio.
Key Highlights
- Two residential units on a 1‑acre parcel
- 2,012 square feet with a three‑bedroom main home and one‑bedroom suite
- Separate one‑bedroom, one‑bath suite above the garage
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
$19,600
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
6.32%
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%
$392,000
$392.0K
Cap Rate 7%
$280,000
$280.0K
Cap Rate 9%
$217,778
$217.8K
Market Conditions
NOI Build-Up for 2,012 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
$29.5K $14.64/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$28.0K $13.92/SF
− OpEx
−$8.4K −$4.18/SF
NOI
$19.6K $9.74/SF
Area
Geauga County, OH
Vacancy
4.94%
Lease Rate
$14.64 /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%
$392,000
Cap Rate 7%
$280,000
Cap Rate 9%
$217,778
Alternative Uses
Best Use
Multifamily LT 5
$280.0K
$245.0K – $326.7K
NOI $19,600 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$242.8K
$212.4K – $283.3K
NOI $16,995 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$405.3K
$354.6K – $472.8K
NOI $28,369 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 44024, OH
23,795
Population
9,560
Households
2.5
Avg Household Size
47
Median Age
35%
College-Educated
96%
High-School Grad
90.0 sq mi
ZIP Area
264
Density / Sq Mi
$104,808
Median Household Income
$50,444
Median Earnings
$1,022
Median Rent
$298,100
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 - Tenant-occupied ranch property with a separate garage-level suite, private entry, and established residential utility systems.
Where is this duplex located?
The property is located at 9751 Cutts Road Chardon, OH.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two residential units on a 1‑acre parcel; 2,012 square feet with a three‑bedroom main home and one‑bedroom suite; Separate one‑bedroom, one‑bath suite above the garage
