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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Residential income homes
2823 Jay Ave Cleveland, OH 44113-3043
Individually Owned
5-yr Hold
Property ID
US66-1586995
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1900
Construction
WOOD
Total area
2,640 SF
Lot
0.11 ac (4,752 SF)
Zoning code
2F
APN
003-33-031
UPID
US66-1586995
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
$485k
Comparable Approach
Comparable
$419k
Blend (final)
Blend
$505k
Owner & transaction history
Dominic L Ozanne II · 5 yrs held
Dominic L Ozanne II
since 2020
Last sale
$615,000
7 recorded transactions
Zoning & alternative use
2F · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$425,000
+30.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$505,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
$525,000
6.5%
$485,000
7%
$450,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$325,000
Current use
OFFICE BUILDING
$425,000
Change: +31% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $615k (Sep 9 2020)
Last sale anchor
$615k
Sep 9 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$191 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$21,375
Tax year 2023
Assessed value
$215,250
Assessed 2023
Previous assessed
$215,250
+0.0% YoY
Effective rate
9.93%
On assessed value
Assessed land
$8,750
Assessed improvement
$206,500
Land market value
$25,000
Improvement market value
$590,000
Total market value
$615,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1900
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Units
2
Rooms
11
Bathrooms
5
Total area
2,640 SF
Lot
0.11 ac (4,752 SF)
Zoning code
2F
APN
003-33-031
UPID
US66-1586995
Jurisdiction
CUYAHOGA
Zoning & alternative use
2F · Cleveland, OHZoning 2F · permitted uses
2F · Cleveland, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$325,000
OFFICE BUILDING
Est. value
$425,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
2
Rooms
11
Bathrooms
5
Lot
0.11 ac
Current owner
From public records · entity-resolved
Dominic L Ozanne II
Individual
Mailing address
2823 JAY AVE, CLEVELAND, OH 44113-3043
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2020
$615,000
Dominic L Ozanne II
W 29th Street Properties Ltd
Warranty Deed
$603,860 · Howard Hanna Mtg Svcs
Nov 1, 2018
—
W 29th Street Properties Ltd
—
Trustees Deed
related
$75,000 · Maynard Philip H Trust (rt)
Jul 31, 2012
—
W 29th Street Props Ltd
Maurer,craig
Warranty Deed
related
—
Jan 17, 2012
$210,000
Craig Maurer
Gilbert,robert L
Warranty Deed
$204,676 · Howard Hanna Mortgage Svcs
Jul 19, 2007
—
Robert L Gilbert
Gilbert,peterann R
Affidavit Of Death
related
—
—
—
W 29th Street Properties Ltd
—
Deed Of Trust
related
$100,000 · Keybank USA
—
—
Robert L Gilbert
—
Deed Of Trust
related
$81,000 · Wells Fargo Home Mortgage INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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