Welcome to 12718 Lorain Ave, a beautifully renovated multi-unit building that offers both comfort and convenience. This property features three fully occupied units, making it an excellent investment opportunity. Each unit has been freshly painted, showcasing modern finishes and a welcoming atmosphere. Enjoy the added benefit of an easement on the driveway, providing easy access for residents and guests alike. With its prime location and well-maintained interiors, this building is ready for you to step in and enjoy immediate rental income. Don’t miss out on this fantastic opportunity—schedule your showing today!
Property Details
Property Features
Property Information:
Year Built: 1925
Stories: 2
Listing Office:
Office Name: RE/MAX Omega
Office Phone: (440) 318-5675
Listing Agent: Izzeldin Izheman
Interior Features
Interior Information:
Basement: Yes
Bedroom and Bathroom Information:
Full Bathrooms: 4
Total Bedroom Count: 4
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Attached Garage: No
Parking: Asphalt
Lot Features
Lot Information:
Lot Size: 0.08 Acres
Utilities
Utilities Information:
Heating: Hot Water, Steam
Cooling: None
Other
Directions Information:
Directions: on lorain ave
Price Information
Listing Price Info
Price Summary:
List Price: $249,000
Tax Information:
Annual Amount: $3,085
Tax Year: 2020
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Cleveland, OH.
This property is $84.7K more than the Median Sold Price in Cleveland, OH.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: NOWDD
MLS Number: #5082360
Listing Office:
Office Name: RE/MAX Omega
Office Phone: (440) 318-5675
Listing Agent: Izzeldin Izheman
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/21/2024, 3:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jan 09, 2020
Jan 09, 2020Home Sold
$95,000
Jan 20, 2006
Jan 20, 2006Home Sold
$110,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2020
$3,085
$29,680
2019
$2,904
$29,680
2018
$2,832
$29,680
2017
$3,559
$35,040
History based on county public records data.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$1,310
Per Month
Principal & Interest
$1,243
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$813
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Global Ambassadors Language Academy
13442 Lorain Ave
Distance between this listing and this school0.41 miles
Public Charter Grades KG-5
7
/10
Harrison Elementary School
2080 Quail St
Distance between this listing and this school1.07 miles
Public District Grades PK-5
7
/10
Roosevelt Elementary School
14237 Athens Ave
Distance between this listing and this school1.33 miles
Public District Grades KG-5
Nearby Schools
3
/10
Wilbur Wright School
11005 Parkhurst Dr
Distance between this listing and this school0.67 miles
Public District Grades PK-8
5
/10
Louis Agassiz School
3595 Bosworth Rd
Distance between this listing and this school0.76 miles
Public District Grades PK-8
2
/10
Constellation Schools: Westside Community School of The Arts
3727 Bosworth Rd
Distance between this listing and this school0.88 miles
Public Charter Grades KG-8
Nearby Schools
3
/10
New Tech West High School
11801 Worthington Ave
Distance between this listing and this school0.86 miles
Public District Grades 9-12
4
/10
John Marshall School of Information Technology
3952 W 140th St
Distance between this listing and this school1.16 miles
Public District Grades 9-12
3
/10
John Marshall School of Engineering
3952 W 140th St
Distance between this listing and this school1.16 miles
The neighbors living near this home have an average income of $30,879. Residents of Cleveland, OH typically earn less than $35k each year. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.
This home is located at 12718 Lorain Ave in Cleveland, OH and zip code 44111 in the Lenox Park neighborhood. This home, which was built in 1925, sits on a 0.08 acre lot. Features: 4 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since November 03, 2024 and is currently priced at $249,000.
Over 275 listings were sold over their listed price in October 2024 in Cleveland, OH. In the same period over 333 listings were sold below the listed price and 110 listings were sold for the listed price. The number of listings in Cleveland, OH increased by 4.7% between September 2024 and October 2024. The median list price of listings available in October 2024 was $164,291, while the average time on the real estate market was 36 days.
From Rocket Homes Real Estate and based on county public records data.