407 W 22nd St Lorain, OH 44052
Lorain AreaEstimated payment $852/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.
Multiple properties must be purchased. Singular properties will not be considered. Reach out to co-listing agent for details.
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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $1,405 | $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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/28/2026 05/28/26 | Price Changed | $135,000 | -15.6% | -- |
| 04/29/2026 04/29/26 | For Sale | $160,000 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,050,000 | None Listed On Document | |
| Warranty Deed | $33,500 | -- | |
| Executors Deed | $25,000 | Charleston Title |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $765,000 | Credit Line Revolving | |
| Previous Owner | $243,750 | New Conventional | |
| Previous Owner | $145,000 | New Conventional | |
| Previous Owner | $25,200 | Commercial | |
| Previous Owner | $17,000 | Commercial | |
| Previous Owner | $50,000 | Purchase Money Mortgage |
Source: MLS Now
MLS Number: 5205297
APN: 02-01-003-171-014
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