Property Description

Exceptional investment opportunity in a convenient Cleveland location! This fully occupied duplex is generating $2,111/month with long-term occupancy by one family, offering immediate cash flow from day one. The property features two spacious units: the first-floor unit offers 2 bedrooms and 1 full bath, while the second-floor unit features 3 bedrooms and 1 full bath, creating strong rental appeal and flexible living arrangements. A standout feature is the huge 3-car garage, providing valuable off-street parking, storage, or additional tenant convenience?an amenity rarely found at this price point. Ideally situated near MetroHealth Main Campus, the Cleveland Metroparks Zoo, shopping, dining, schools, and public transportation, with easy access to major highways and downtown Cleveland. This location continues to attract tenants seeking convenience and accessibility. Whether you are looking to expand your portfolio or secure your first income-producing property, this duplex offers strong rental income, practical layout, and excellent upside potential. Don't miss this opportunity!

3295 W 56th Street | MLS# 5205490

This multi-family property located at 3295 W 56th Street, Cleveland, OH 44102 is currently listed for sale with an asking price of $199,900. W 56th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on 1009fairoaksavenuesw.cutlerhomes.com today.

Property Features

Property Type: Multi Unit - Multiple

Basement: Full

Basement: Yes

Cooling: None

Days on Market: 19

Garage: 3

Heating: Forced Air

Lot Size: 0.11 Acres

Roof Type: Asphalt, Fiberglass

Stories: 2.0

Taxes: $1,642 / year

Year Built: 1915

Feature Descriptions

Exterior: Aluminum Siding

Parcel#: 016-09-066

Parking: Additional Parking, Detached, Garage

Sewer: Public Sewer

Water: Public

Local Schools

School District: Cleveland Municipal - 1809

Demographics

Cuyahoga County Demographic Information for 3295 W 56th Street, Cleveland, OH 44102

Fips

Fips Code 39035

Population

2020 to 2025 Change down 2.5%

2010 Count 1,280,122

2020 Count 1,264,817

2025 Estimate (V2025) 1,232,925

2020 Estimate (V2025) 1,264,775

Age Distribution (Years Old)

0 to 4 5.2%

5 to 17 20.1%

18 to 64 54.2%

65 and Older 20.5%

Gender

Male 48.0%

Female 52.0%

Place of Birth

Foreign 7.7%

US 92.3%

Education

High School Graduate, Age 25+ 91.5%

Bachelor's Degree or Higher, Age 25+ 36.5%

Computer and Internet use

Households with a computer 94.0%

Households with a broadband Internet subscription 89.5%

Language

English is Second Language, Age 5+ 12.3%

English is First Language, Age 5+ 87.7%

Veterans

Veterans 54,264

Income

Per Capita Income $42,747

Median Household Income $64,468

People in Poverty 14.9%

Commute

Average Work Commute Time 24 minutes

Housing

Total Housing Units 615,116

Households 554,551

Average Household Size 2.20

Owner-Occupied 59.4%

Multi-Family 34.9%

Owner-Occupied Median Value $195,400

Median selected monthly owner costs -with a mortgage $1,570

Median selected monthly owner costs -without a mortgage $671

Median gross rent $1,060

Building Permits

New Private Housing Issued 2024 1,685

Years at Residence

1 Year or More 86.7%

Less Than 1 Year 13.3%

Business and Employment

Private non-farm Establishments 31,496

Private non-farm Employment 681,543

Private non-farm Employment Growth up 0.7%

Nonemployer Establishments 110,977

Number of Firms 23,160

Business Production

Value of Shipments $23,225,392,000

Wholesale Trade $24,854,217,000

Retail Trade $16,920,714,000

Retail Sales Per Capita $11,914

Accommodation and Food Services $3,332,698,000

Land

Land Area 457.19 sq. miles

Population Per Square Mile 2,800

Source: US Census Bureau

Estimate Your Payment

Estimated Payment

$ 1,221.77 per month $1,026.63 Principal & Interest $136.83 Property Tax $58.30 Homeowner's Insurance

Change Payment Information

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3295 W 56th StreetCleveland, OH 44102