1557 Newman Avenue, Lakewood, OH 44107
Local realty services provided by:Better Homes and Gardens Real Estate Central



Listed by:michael jones
Office:re/max traditions
MLS#:5113652
Source:OH_NORMLS
Price summary
- Price:$309,000
- Price per sq. ft.:$156.06
About this home
Welcome to 1557 Newman Ave — a fully renovated duplex offering incredible income potential and flexibility. With the lower unit previously rented at $1,300/month and the upper unit projected to earn $1,800+/month, this property easily fits the criteria for investors seeking strong returns. It’s also perfect for owner-occupants looking to offset a mortgage with rental income, or those wanting to convert it into a spacious single-family home.
The property features 5 bedrooms and 3 full baths in total: a 2-bed/1-bath unit on the first floor and a large 3-bed/2-bath unit spanning the second and third floors. The upper unit includes an updated kitchen and a brand-new third-floor bathroom with new stairs.
Recent upgrades (2023–2024) include:
All new appliances
New flooring throughout both units
New front porch and upper balcony
Fresh exterior paint
New gutters and entry doors
Majority of windows replaced
Located in a desirable, walkable Lakewood neighborhood near parks, dining, and RTA transit, this turnkey property requires minimal maintenance and is poised for immediate cash flow.
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Home facts
- Year built:1908
- Listing Id #:5113652
- Added:127 day(s) ago
- Updated:August 16, 2025 at 02:13 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:3
- Full bathrooms:2
- Half bathrooms:1
- Living area:1,980 sq. ft.
Heating and cooling
- Heating:Forced Air
Structure and exterior
- Roof:Asphalt, Fiberglass
- Year built:1908
- Building area:1,980 sq. ft.
- Lot area:0.07 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$309,000
- Price per sq. ft.:$156.06
- Tax amount:$4,516 (2024)
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