407 W 22nd St Lorain, OH 44052
Estimated payment $959/month
About This Home
Value-add opportunity with immediate lease-up potential at 407 W 22nd St in Lorain, offered exclusively as part of a 19-unit portfolio-no individual sales. This two-unit property features one occupied unit generating $995 per month with a lease in place through 3/31/26, while the second unit is currently vacant, providing upside through stabilization. Utilities are structured with the tenant responsible for electric and the owner covering water, sewer, and trash. The property offers a functional layout with solid rental demand in the area, supporting continued occupancy. A strong addition to a larger portfolio, this asset combines in-place income with near-term growth potential.
Listing Agent
Russell Real Estate Services Brokerage Email: tal@premierclevelandinvesting.com, 216-870-8687 License #2018001908 Listed on: 04/29/2026
Co-Listing Agent
Russell Real Estate Services Brokerage Email: tal@premierclevelandinvesting.com, 216-870-8687 License #2025002962
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,404
Year Built
- Built in 1900
Parking
- 1 Car Detached Garage
Home Design
- Duplex
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Full Bathrooms
Additional Features
- 2-Story Property
- 7,405 Sq Ft Lot
- Basement
Community Details
- Gilbert Hogans 03 Subdivision
Listing and Financial Details
- Assessor Parcel Number 02-01-003-171-014
Map
Home Values in the Area
Average Home Value in this Area
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 | $1,478 | $34,965 | $3,780 | $31,185 |
| 2023 | $1,251 | $23,671 | $3,420 | $20,251 |
| 2022 | $1,240 | $23,671 | $3,420 | $20,251 |
| 2021 | $1,240 | $23,671 | $3,420 | $20,251 |
| 2020 | $1,262 | $20,930 | $3,020 | $17,910 |
| 2019 | $1,255 | $20,930 | $3,020 | $17,910 |
| 2018 | $1,256 | $20,930 | $3,020 | $17,910 |
| 2017 | $1,192 | $18,730 | $3,400 | $15,330 |
| 2016 | $1,182 | $18,730 | $3,400 | $15,330 |
| 2015 | $1,117 | $18,730 | $3,400 | $15,330 |
| 2014 | $1,032 | $17,340 | $3,150 | $14,190 |
| 2013 | $1,024 | $17,340 | $3,150 | $14,190 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/29/2026 04/29/26 | For Sale | $160,000 | -- | -- |
Source: MLS Now
MLS Number: 5205297
APN: 02-01-003-171-014
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