Ely Square Multifamily Homes & Duplexes for Sale
Why Live in Ely Square
Ely Square in Elyria, Ohio, is a neighborhood centered around a classic town square, featuring historic Neoclassical and Victorian buildings, murals, and top eateries. The area is known for its affordability and lower tax bracket, making it an attractive option for commuters to Cleveland, which is 30 miles away. Housing options include ranch-style homes, Colonial Revivals, and newly constructed traditional homes with Bungalow-inspired architecture, all featuring small porches and wooded backyards. The Elyria School District serves the area, with Elyria High School offering a performing arts center for community events. Outdoor enthusiasts can explore Cascade and Elywood Parks, connected by a bridge and offering trails along the Black River, leading to the Western Falls of Cascade and East Falls Riverwalk. Elyria South Park provides a playground, greenspace, and sports courts, while the Valley of the Eagles Golf Club offers golf courses and event spaces. Transportation is convenient with the Ohio Turnpike, Interstate 90, and Greater Cleveland Regional Transit Authority services. Dining options on Broad Street include Foundry Kitchen and Bar, Erie Island Coffee, and Wolfeys Bistro and Pub. Essential shopping is available at Aldi, The Home Depot, and Discount Drug Mart. The Elyria Public Library is a hub for book lovers and hosts a weekly Art Walk. Community events in Downtown Ely Square include summer music concerts and the Juneteenth commemorative march.
Home Trends in Ely Square, OH
On average, homes in Ely Square, Elyria sell after 42 days on the market compared to the national average of 49 days. The median sale price for homes in Ely Square, Elyria over the last 12 months is $125,250, up 14% from the median home sale price over the previous 12 months.
Housing Trends
In Ely Square, there are currently 4 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes ranging from $15,000 to $185,000, there's something for every budget. As of May, 2025 the median home price in Ely Square, Elyria is $125,000, while the average sale price is $137,411, providing insight into local market trends. On average, multi-family homes spend 42 days on the market before being sold. Multi-family homes encompass various property types, including duplexes, triplexes, fourplexes, and apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're interested in a duplex for a starter investment or an apartment complex for a larger-scale venture, there are investment properties available to suit your needs. Explore the range of multi-family homes for sale in Ely Square, Elyria.