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Cherri Harrell

cherriharrell@homesbyharrell.com +1(216) 269-6296

$ 580,000

Est. payment | -/mo

10 Beds

6 Baths

4,120 SqFt

Save

$ 580,000

Est. payment | -/mo

Save

10 Beds

6 Baths

4,120 SqFt

Key Details

Property Type Single Family Home

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,120 sqft

Price per Sqft $140

Subdivision Wade Park

MLS Listing ID 5212994

Bedrooms 10

Full Baths 4

Half Baths 2

Construction Status Unknown

HOA Y/N No

Abv Grd Liv Area 4,120

Total Fin. Sqft 4120

Annual Tax Amount $9,871

Tax Year 2025

Lot Size 8,398 Sqft

Acres 0.1928

Property Sub-Type Duplex

Property Description

This exceptional income-producing duplex features 2 expansive units, each offering 5 bedrooms and 2.5 bathrooms, currently generating $6,400 per month in gross rental income. With a documented 2025 net operating income of $52,808, the property delivers an impressive cap rate exceeding 9.1% at the current asking price — a rare find in one of Cleveland's most consistently in-demand rental markets, just a short walk from Case Western. Even more compelling, the property is currently outperforming projections in 2026 and tracking at an estimated 9.8% cap rate year-to-date. Detailed financials are available upon request, providing full transparency into income and expenses, including taxes, insurance, landlord-paid utilities, property management, maintenance, and repairs, allowing investors to truly appreciate the strength and stability of this asset. In 2022, the property underwent extensive renovations transforming it into a high-end rental offering. Improvements include fully remodeled kitchens, refinished hardwood floors, added and updated bathrooms, new tankless hot water heaters, and numerous additional upgrades throughout both units. With current leases extending through June 2027, this investment offers immediate stability with significant upside potential. Upon lease expiration, rents could reasonably be increased to $4,000+ per side to align with comparable high end student housing in the area, further strengthening returns.Tenant turnover has historically been seamless in the area, with outgoing tenants frequently referring incoming renters, creating a highly dependable leasing pipeline. For added peace of mind, the current owner is committed to delivering the property fully lead-safe certified in compliance with city regulations prior to transfer. Opportunities to acquire a low-maintenance, high-cash-flow asset of this caliber in such a sought-after location are exceedingly rare. Don't miss the chance to add this true crown jewel investment to your portfolio.

Location

State OH

County Cuyahoga

Community Park

Direction North

Rooms

Basement Full, Unfinished

Interior

Heating Baseboard, Forced Air, Gas

Cooling Central Air

Fireplace No

Appliance Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer

Laundry In Basement

Exterior

Parking Features No Garage, Paved, Parking Pad

Fence Chain Link, Wood

Community Features Park

View Y/N Yes

Water Access Desc Public

View City

Roof Type Asphalt,Fiberglass

Accessibility None

Garage false

Private Pool No

Building

Faces North

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Construction Status Unknown

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 120-21-008

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, VA Loan

Listing Terms Cash, Conventional, 1031 Exchange, FHA, VA Loan

Special Listing Condition Standard

VOW - Northern Ohio Regional MLS (YES-MLS) /MLS Now

Listed by David Jackson • Howard Hanna • davidjackson@howardhanna.com, 216-548-9207

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(216) 269-6296

cherriharrell@homesbyharrell.com

11206 Ashbury AVE Cleveland, OH 44106