REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Kyle Oberlin

kyle@sellingohio.com +1(330) 714-5807

$ 219,900

Est. payment | -/mo

4 Beds

3 Baths

2,001 SqFt

Save

$ 219,900

Est. payment | -/mo

Save

4 Beds

3 Baths

2,001 SqFt

Open House

Sun May 03, 12:00pm - 2:00pm

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,001 sqft

Price per Sqft $109

MLS Listing ID 5204751

Style Colonial

Bedrooms 4

Full Baths 2

Half Baths 1

Construction Status Updated/Remodeled

HOA Y/N No

Abv Grd Liv Area 2,001

Year Built 1900

Annual Tax Amount $4,025

Tax Year 2025

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Single Family Residence

Property Description

Perfect for savvy investors and owner-occupants alike, this meticulously maintained single-family home near Lake Erie College offers a rare combination of historic charm and high-yield performance with a gross cap rate of 15%. Currently utilizing a successful rent-by-the-room and single-room occupancy (SRO) model, the property produces a total monthly income of $2,750. The layout features three upstairs bedrooms optimized for student housing at $700/room and a cozy lower-level suite currently rented to a family member, offering immediate cash flow with significant pro-forma upside. The first floor showcases gorgeous original woodwork and a primary bedroom with a decorative fireplace. This turn-key opportunity features major capital improvements: a newer roof, gutters, and vinyl siding (2014), plus a new furnace, updated electrical, and a detached garage (2016). Efficiency is a priority with vinyl windows and a heavily insulated attic (R40+). Inside, Old World soul meets modern updates like new plumbing, laminate kitchen flooring, and brand-new upstairs LVP. As an added bonus, the sofa, coffee table, and dining table convey, making this truly rental-ready. Residents will enjoy the welcoming front porch and a recently redone two-tiered back deck, all minutes from campus and shopping. Whether seeking a high-demand student rental or a multi-generational residence that pays for itself, this is a fantastic opportunity in a prime Painesville location.

Location

State OH

County Lake

Rooms

Basement Full

Main Level Bedrooms 1

Interior

Interior Features Built-in Features, Ceiling Fan(s), Entrance Foyer, In-Law Floorplan, Primary Downstairs, Natural Woodwork

Heating Forced Air, Gas

Cooling Ceiling Fan(s), Window Unit(s)

Fireplaces Number 1

Fireplaces Type Decorative, Living Room

Fireplace Yes

Appliance Dryer, Microwave, Range, Refrigerator, Washer

Laundry Common Area, Main Level

Exterior

Parking Features Driveway, Garage Faces Front, Garage, Paved

Garage Spaces 2.0

Garage Description 2.0

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Porch Covered, Deck, Front Porch, Wrap Around

Private Pool No

Building

Lot Description < 1/2 Acre, Irregular Lot

Sewer Public Sewer

Water Public

Architectural Style Colonial

Level or Stories Two

Construction Status Updated/Remodeled

Schools

School District Painesville City Lsd - 4305

Others

Tax ID 15-C-005-0-00-004-0

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Victoria Wallis • RE/MAX Crossroads Properties • victoriawallis@remax.net, 330-819-8216

NEARBY SCHOOL & BUSINESS

+1(330) 714-5807

kyle@sellingohio.com

3498 S Arlington Rd, Akron, OH, 44312, USA

175 Wood ST Painesville, OH 44077