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31 Fairfield Rd, Painesville, OH, 44077

7beds
4baths
4,293sqft
$400,000
$93price/sqft
$3,154/moest. monthly cost
$126,160/yrincome needed

About This Home

New Price ~ Opportunity knocks ~Charming Cape Cod/Craftsman~ rich in character, history, and opportunity~ Situated on a rare parcel of over 2 acres, this handsome property offers privacy, flexibility, and room to grow. Extensive parking and wraparound drives on both sides and behind the home create convenience rarely found. Numerous outbuildings are already in place and offer tremendous potential for the next owner. While they would benefit from restoration, updates, or reimagining, they provide a rare opportunity to create your vision. Dramatic double doors welcome guests into the family room. The formal dining room is complemented by a separate serving area hidden behind doors, ideal for linens and entertaining essentials. The oversized living room features a fireplace and access to the screened porch. A custom library with built-ins offers flexibility as a home office, reading retreat, morning room, or breakfast nook. The updated kitchen opens to one of the home's standout features—a recreation/great room with beamed ceiling, oversized stone fireplace, rich wood paneling, and hidden Prohibition-style bar. Another nook with estate safe adds personality and storage. This home is suited for multi-generational living, extended family, long-term guests, or private teen quarters. In-law suite features two rooms, living area, full bath, and private staircase access. Five additional bedrooms provide room for everyone. Upstairs you'll find the primary suite with private bath, additional bedrooms, and a full bath separate from the in-law quarters. The lower level has been refreshed and offers additional usable space. Lovingly restored while preserving its original charm, **ask for the extensive update list including the new boiler system & matterport tour link** Still room for your finishing touches and vision. Rare. Flexible. Memorable. Properties offering acreage, character, multi-generational living, and future potential seldom become available.

Getting Around

52
WalkingSomewhat Walkable
23
TransitMinimal Transit
40
BikeSomewhat Bikeable

Schools

7/10
6/10
6/10

Construction

Condition

  • Property condition: Updated/Remodeled
  • Year built: 1932

Materials

  • Roof: Asphalt
  • Construction materials: Wood Siding

Type & Style

  • Home type: SingleFamily
  • Architectural style: Cape Cod,Colonial,Craftsman,Traditional
  • Property subType: Single Family Residence

Interior

Basement

  • Has basement: Yes
  • Basement: Full,Unfinished

Bedrooms & Bathrooms

  • Bedrooms: 7
  • Bathrooms: 4
  • Full bathrooms: 3
  • 1/2 bathrooms: 1
  • Main level bathrooms: 1

Features

  • Beamed Ceilings,Bookcases,Built-in Features,Cedar Closet(s),Chandelier,Entrance Foyer,Granite Counters,High Ceilings,In-Law Floorplan,Bar
  • Number of fireplaces: 2
  • Fireplace features: Den,Family Room,Gas,Glass Doors,Gas Log,Great Room,Stone
  • Fireplace: Yes
  • Finished area above ground: 4,293

Heating & Cooling

  • Heating features: Gas,Radiator(s)
  • Cooling features: Window Unit(s),Wall Unit(s)

Interior Area

  • Total structure area: 4,293
  • Total interior livable area: 4,293 sqft

Property

Details

  • Parcel number: 11A012A020080

Features

  • Levels: Two
  • Stories: 2
  • Patio & porch: Enclosed,Patio,Porch,Screened,Side Porch

Lot

  • Lot size: 2.20 Acres
  • Features: Flat,Level,Pie Shaped Lot

Parking

  • Total spaces: 3
  • Parking features: Additional Parking,Circular Driveway,Driveway,Detached,Garage,Oversized
  • Has garage: Yes
  • Attached garage spaces: 3
  • Covered spaces: 3

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Winter Weather
    Winter WeatherRelatively High
  • Ice Storm
    Ice StormModerate
  • Strong Wind
    Strong WindModerate
  • Tornado
    TornadoModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Winter Weather
Ice Storm
Strong Wind
Tornado
Tsunami

FEMA Declared Disasters Across Ohio Counties

Flood
Tornado

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $2,022$24,264
Home Insurance *$172$2,064
Property Taxes $500$6,000
Electricity $460$5,525
Total$3,154$37,848
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$108,137/yr
40% on housing$94,620/yr
45% on housing$84,106/yr

Ohio FAIR Plan Programs

Ohio FAIR Plan Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 13,942Commercial: 466
Total Premiums$18.03M
Total Exposure$5.92B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 6.8%
6.8%
0%30.0%
Electricity Growth Rate10-year average: 5.9%
5.9%
0%15.0%
Property Taxes Growth Rate2-year average: -1.0%
-1.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$93This listing

vs Other Active Listings

Avg $/sqft

ZIP 44077$141
Lake County$154

vs Homes Sold Last Month

Median $/sqft

ZIP 44077$172
Lake County$161

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-07-10Price change$400,000
2026-06-27Listed for sale$450,000
2025-10-31Listing removed$470,000
2025-09-22Price change$470,000
2025-08-05Listed for sale$499,000
2022-04-15Sold$175,000
2022-04-04Pending sale$200,000
2022-01-25Contingent$200,000
2022-01-20Listed for sale$200,000
2022-01-18Contingent$200,000
2022-01-10Price change$200,000
2021-09-09Price change$299,900
2021-06-24Listed for sale$335,000

For Sale by Agent

AgentShannon R Gerome
BrokerageKeller Williams Greater Cleveland Northeast

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