2867 Garfield Boulevard, Lorain, OH 44052

Lorain
Local realty services provided by:Better Homes and Gardens Real Estate Central
2867 Garfield Boulevard,Lorain, OH 44052
$99,000
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  • 3 Beds
  • 1 Baths
  • 1,221 sq. ft.
  • Single family
  • Pending
Listed by: tal tamir
Office: russell real estate services
MLS#:5182050
Source:OH_NORMLS

Price summary

  • Price:$99,000
  • Price per sq. ft.:$81.08

About this home

Turnkey cash-flowing single family in Lorain with major capital improvements already completed. This recently renovated 3-bedroom, 1-bath home is currently rented at $1,200/month with tenants paying ALL utilities, creating an extremely efficient operating structure for investors. At $99,000, this property delivers a strong 9.52% cap rate from day one. The property has received substantial upgrades including a new furnace, basement wall reinforcement with steel I-beams, professional interior waterproofing system with sump pump, and beautiful new vinyl plank flooring, paint, and cabinets throughout. The 2-story layout features an open living and dining area flowing into the updated kitchen with modern white cabinetry and black appliances. The numbers work: $14,400 gross rent against $4,971 in operating expenses (taxes, insurance, management, vacancy, and maintenance reserves) yields a $9,429 NOI. Finance with 20% down at 6.5% and you're looking at $280/month cash flow, 16.18%

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Home facts

  • Year built:1946
  • Listing ID #:5182050
  • Added:44 day(s) ago
  • Updated:March 07, 2026 at 08:21 AM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:1
  • Full bathrooms:1
  • Rooms Total:6
  • Basement:Yes
  • Basement Description:Unfinished
  • Living area:1,221 sq. ft.

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Roof:Asphalt
  • Year built:1946
  • Building area:1,221 sq. ft.
  • Lot area:0.14 Acres
  • Architectural Style:Colonial
  • Construction Materials:Vinyl Siding
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$99,000
  • Price per sq. ft.:$81.08
  • Tax amount:$1,413 (2025)
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