508 W 23rd St, Lorain, OH, 44052
About This Home
Excellent income-producing investment opportunity OR homeowner opportunity. The upstairs tenant will be moving out next month. The property currently is receiving $1,750. The home features two units with strong rent: the upper unit is currently occupied paying $900 up-to date with rent, while the lower unit is occupied by a tenant and also up to date on rent $850. And ALL appliances will stay with the unit: including stove, refrigerator, washer, and dryer. The exterior has been updated with newer vinyl siding, newer roof, and vinyl windows, enhancing both durability and curb appeal. Inside you'll find newer flooring throughout, newer kitchens, and newer bathrooms. Major mechanical updates include two newer hot water tanks (2020) and a newer furnace, offering added peace of mind. There are 2 furnaces, one is in the basement and the second furnace is in the upstairs unit. Each unit offers a bright and inviting interior with abundant natural light, complemented by some updated flooring and fresh paint. The upper unit includes a private balcony, while the lower unit features covered porches. A spacious backyard with a storage shed provides additional outdoor functionality. With each unit having in-unit laundry area. The basement includes a laundry connection, currently not in use but offering future value-add potential. Situated on a quiet side street, the property has previously qualified for Section 8. Property is easy to show, call your realtor to schedule.
Getting Around
Somewhat Walkable
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Updated/Remodeled
- Year built: 1900
Materials
- Roof: Asphalt,Fiberglass,Shingle
- Construction materials: Vinyl Siding
Type & Style
- Home type: MultiFamily
- Property subType: Duplex,Multi Family
Interior
Appliances
- Appliances included: Dryer,Range,Refrigerator,Washer
- Laundry features: Main Level,In Unit,Multiple Locations,Upper Level
Basement
- Has basement: Yes
- Basement: Exterior Entry,Full
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Features
- Finished area below ground: 758
- Finished area above ground: 1,516
Heating & Cooling
- Heating features: Forced Air
- Cooling features: None
Interior Area
- Total structure area: 2,274
- Total interior livable area: 2,274 sqft
Property
Details
- Parcel number: 0201003171021
- Special condition: Standard
Features
- Levels: One and One Half
Lot
- Lot size: 7,405 sqft
Parking
- Parking features: Driveway,No Garage
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
- Cold Wave
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Ohio Counties
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
| Monthly | Annual | |
|---|---|---|
| Mortgage | $783 | $9,396 |
| Home Insurance * | $119 | $1,428 |
| Property Taxes | $176 | $2,112 |
| Electricity | $243 | $2,926 |
| Total | $1,321 | $15,852 |
Income You'd Need if You Spent...
Ohio FAIR Plan Programs
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.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-30 | Listed for sale | $155,000 |
| 2026-04-08 | Contingent | $155,000 |
| 2026-03-29 | Listed for sale | $155,000 |
| 2024-12-05 | Listing removed | $850 |
| 2024-12-04 | Listed for rent | $850 |
| 2024-09-16 | Listing removed | $850 |
| 2024-09-06 | Listed for rent | $850 |
| 2024-06-20 | Listing removed | -- |
| 2024-04-10 | Price change | $715 |
| 2024-03-19 | Sold | $110,000 |
| 2024-01-18 | Price change | $750 |
| 2024-01-08 | Price change | $805 |
| 2023-12-20 | Price change | $850 |
| 2023-11-13 | Price change | $925 |
| 2023-10-25 | Listed for rent | $995 |
| 2022-07-13 | Sold | $82,000 |
| 2022-06-17 | Pending sale | $99,000 |
| 2022-06-09 | Listing removed | -- |
| 2022-06-01 | Listed for rent | $695 |
| 2022-05-31 | Contingent | $99,000 |
| 2022-05-19 | Price change | $99,000 |
| 2022-04-27 | Pending sale | $69,000 |
| 2022-04-01 | Sold | $72,000 |
| 2022-03-09 | Contingent | $69,000 |
| 2022-03-04 | Listed for sale | $69,000 |
| 2019-06-28 | Sold | $53,000 |
| 2000-12-05 | Sold | $30,000 |
| 2000-09-28 | Sold | $22,000 |
| 1995-07-12 | Sold | $37,000 |
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