2627 E 40th St Lorain, OH 44055
3
Beds
2
Baths
1,188
Sq Ft
6,913
Sq Ft Lot
Highlights
- High Ceiling
- Forced Air Heating and Cooling System
- 1-Story Property
- No HOA
- Ceiling Fan
- 3-minute walk to Homewood Park
About This Home
As of December 2024Welcome to your dream location on a quiet cul-de-sac in Lorain. This beautifully updated 3-bedroom, 2- full bathroom residence offers an open floor plan. New roof and bathroom installed. This is perfect for the new investor looking to purchase their first rental or seasoned investor ready to add to their portfolio. Also a great retirement potential for the future with all rooms accessible on one floor. As you step inside, you’re greeted by a bright and spacious living area featuring large windows that fill the space with natural light. The open-concept layout seamlessly connects the living room to the dining area and kitchen making it perfect for entertaining friends and family. The kitchen boasts built in stainless steel appliances, plenty of counter space, and ample cabinetry, ensuring a delightful cooking experience. Three well-sized bedrooms provide flexibility for guests, a home office, or playroom. Outside, the expansive and open backyard is perfect for summer barbecues and gatherings. Located in a friendly neighborhood, this home is just minutes away from local parks, shopping, and dining options. Current long term tenant on a month to month lease, pay your mortgage payment with the monthly rent. Don’t miss out on this fantastic opportunity to own an immediate investment piece of Lorain! Or as another option seller is open to owner financing. Call for more info! Schedule your private showing today!
Last Agent to Sell the Property
Fathom Realty Brokerage Email: leahmarie@thealphaomegateam.com 440-384-1231 License #2013001559 Listed on: 08/30/2024
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,399
Year Built
- Built in 2004
Lot Details
- 6,913 Sq Ft Lot
Home Design
- Slab Foundation
- Fiberglass Roof
- Asphalt Roof
- Vinyl Siding
Interior Spaces
- 1-Story Property
- High Ceiling
- Ceiling Fan
- Dishwasher
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- 2 Full Bathrooms
Parking
- No Garage
- Parking Pad
- On-Street Parking
- On-Site Parking
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
Community Details
- No Home Owners Association
- Homewood Subdivision
Listing and Financial Details
- Assessor Parcel Number 03-00-079-105-008
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 30, 2024
Closed on
Dec 19, 2024
Sold by
Maust Aaron and Maust Penny
Bought by
Bartholomew Michael H
Seller's Agent
Leah Montgomery
Fathom Realty
Buyer's Agent
Steven Lawson
Russell Real Estate Services
List Price
$150,000
Sold Price
$142,400
Premium/Discount to List
-$7,600
-5.07%
Views
66
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$4,050
Avg. Annual Appreciation
0.60%
Original Mortgage
$137,852
Outstanding Balance
$137,033
Interest Rate
6.79%
Mortgage Type
FHA
Estimated Equity
$5,890
Purchase Details
Listed on
Sep 24, 2021
Closed on
Nov 30, 2021
Sold by
Hamilton Randall E and Hamilton Crystal N
Bought by
Maust Aaron
Seller's Agent
Trista Tharp
Russell Real Estate Services
Buyer's Agent
Trista Tharp
Russell Real Estate Services
List Price
$85,000
Sold Price
$75,000
Premium/Discount to List
-$10,000
-11.76%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.39%
Original Mortgage
$63,750
Interest Rate
2.33%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 10, 2004
Sold by
Doud David J and Doud Lisa
Bought by
Hamilton Randall E and Hamilton Crystal N
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$86,000
Interest Rate
5.77%
Mortgage Type
Construction
Purchase Details
Closed on
May 14, 2003
Sold by
Gresco Dale R and Gresco Kristen M
Bought by
Doud David J and Doud Lisa
Similar Homes in Lorain, OH
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $142,400 | Infinity Title | |
| Warranty Deed | $75,000 | Newman | |
| Warranty Deed | $17,000 | Guardian Title | |
| Survivorship Deed | $11,800 | Truetitle Agency Inc |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $137,852 | FHA | |
| Previous Owner | $63,750 | New Conventional | |
| Previous Owner | $86,000 | Construction |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/20/2024 12/20/24 | Sold | $142,400 | +5.5% | $120 / Sq Ft |
| 10/07/2024 10/07/24 | Pending | -- | -- | -- |
| 10/01/2024 10/01/24 | Price Changed | $135,000 | -10.0% | $114 / Sq Ft |
| 08/30/2024 08/30/24 | For Sale | $150,000 | +100.0% | $126 / Sq Ft |
| 12/02/2021 12/02/21 | Sold | $75,000 | -11.8% | $63 / Sq Ft |
| 10/07/2021 10/07/21 | Pending | -- | -- | -- |
| 09/24/2021 09/24/21 | For Sale | $85,000 | -- | $72 / Sq Ft |
Source: MLS Now
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,559 | $37,800 | $4,620 | $33,180 |
| 2023 | $1,399 | $27,171 | $5,478 | $21,693 |
| 2022 | $1,387 | $27,171 | $5,478 | $21,693 |
| 2021 | $1,423 | $27,171 | $5,478 | $21,693 |
| 2020 | $1,319 | $21,880 | $4,410 | $17,470 |
| 2019 | $1,848 | $30,810 | $4,410 | $26,400 |
| 2018 | $1,638 | $30,810 | $4,410 | $26,400 |
| 2017 | $1,474 | $23,770 | $6,030 | $17,740 |
| 2016 | $1,462 | $23,770 | $6,030 | $17,740 |
| 2015 | $1,379 | $23,770 | $6,030 | $17,740 |
| 2014 | $1,317 | $22,760 | $5,780 | $16,980 |
| 2013 | $1,307 | $22,760 | $5,780 | $16,980 |
Source: Public Records
Agents Affiliated with this Home
-
L
Seller's Agent in 2024
Leah Montgomery
Fathom Realty
-
S
Buyer's Agent in 2024
Steven Lawson
Russell Real Estate Services
-
T
Seller's Agent in 2021
Trista Tharp
Russell Real Estate Services
Map
Source: MLS Now
MLS Number: 5065659
APN: 03-00-079-105-008
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Nearby Homes
- 4206 Norfolk Ave
- 2494 E 39th St
- 4207 Willow Ave
- 2456 E 37th St
- 2906 Goble Dr
- 4531 Riverside Dr
- 4535 Norfolk Ave
- 2500 E 32nd St
- 4342 E River Rd
- 4322 E River Rd
- V/L Grove Ave
- 4500 E River Rd
- 2534 E 29th St
- 4720 Andover Ave
- 2304 E 28th St
- 2159 E 30th St
- 2128 E 30th St
- 5196 Farr Ave
- 0 Vincent Ave
- 5114 Liberty Ave