5 months on rocket

516 Washington Ave, Lorain, OH, 44052

$129,900

Home List Price

$1,543*

Closing Credit

5 Bedrooms
3 Full Baths
Multi

Location

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516 Washington Ave, Lorain$129,900

Buyer Closing Credits

$1,543*

1.25% Loan Amount

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Property Highlights

Home TypeTriplex
ParkingNo Garage
Year Built1900
HeatingElectric, Natural Gas
CoolingNone
BasementYes
MLS #5046789
Lot Size0.12 Acres
StatusActive

About 516 Washington Ave

What an excellent opportunity to add cash flow to your portfolio! Triplex located right near the heart of Lorain, walking distance to Broadway with its new look and constant and continuous improvements. The City of Lorain is making a comeback, attracting new businesses and with grants from Ohio to improve the waterfront you could be ahead of the big build up over the next several years with this property! Great cash flow at over $1700 gross a month with low, low Lorain property taxes dialing in at less than $1000 per year currently. Not a property you want to miss!

Property Details

Property Features

Property Information:

  • Year Built: 1900

Listing Office:

  • Office Name: Walnut Creek Realty, LLC.
  • Office Phone: (216) 785-2345
  • Listing Agent: Matthew P Klein

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 5

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Attached Garage: No
  • Parking: No Garage

Lot Features

Lot Information:

  • Lot Size: 0.12 Acres

Utilities

Utilities Information:

  • Heating: Electric, Natural Gas
  • Cooling: None

Other

Directions Information:

  • Directions: Broadway to Washington

Price Information

Listing Price Info

Price Summary:

  • List Price: $129,900

Tax Information:

  • Annual Amount: $927
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Lorain, OH.

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Lorain, OH

City

Med. Sold Price

$145K

Med. Price/SqFt

$98

Avg. Days On Market

42

# of Sold Homes

57

516 Washington Ave vs Lorain

151 DAYS ON ROCKET

+109 Days

$129,900

-$15.1K Less

KEY TAKEAWAY

This property is $15.1K less than the Median Sold Price in Lorain, OH.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: NOWDD
  • MLS Number: #5046789

Listing Office:

  • Office Name: Walnut Creek Realty, LLC.
  • Office Phone: (216) 785-2345
  • Listing Agent: Matthew P Klein

IDXCopyright 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: 11/15/2024, 1:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Nov 02, 2015Home Sold
$33,000
Jan 29, 2014Home Sold
$14,400
Jun 25, 2013Home Sold
$30,000
Aug 11, 2006Home Sold
$70,000
Apr 06, 2005Home Sold
$28,000

Tax History

YEARPROP. TAXASSESSMENT
2020$927$15,380
2019$922$15,376
2018$922$15,376
2017$735$11,551

History based on county public records data.

Payment Calculator

$716

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$456

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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.

Nearby Schools

school-card-donut-232045
3
/10

  • Admiral King Elementary School

  • 720 Washington Ave

  • 0.15 miles

  • Public District Grades PK-5

school-card-donut-232046
3
/10

  • Constellation Schools: Lorain Community Elementary School

  • 1110 W 4th St

  • 0.20 miles

  • Public Charter Grades KG-4

school-card-donut-232047
3
/10

  • Hawthorne Elementary School

  • 610 W 20th St

  • 0.93 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $20,084. Most Lorain, OH residents have annual incomes less than $35k. Typical family type is single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Ohio›Lorain County›Lorain›44052›516 Washington Ave

This home is located at 516 Washington Ave in Lorain, OH and zip code 44052 in the Durand's Plant of Charleston neighborhood. This home, which was built in 1900, sits on a 0.12 acre lot. Features: 5 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since June 17, 2024 and is currently priced at $129,900.

In October 2024, from all listings sold in Lorain, OH there were more than 18 sold above asking price, over 23 sold below and more than 16 were sold right at the asked price. In October 2024 in Lorain, OH there were 9.8% more homes for sale than in September 2024. Listings spent 42 days on the market in October 2024, and had a median list price of $145,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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