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Historic Gothic Revival Investment Property

159 N Walnut Street Mansfield, OH 44902

159 N Walnut Street, Mansfield, OH, 44902

$349,000

For Sale

$349,000

MULTI_FAMILY - Mansfield, OH

Property Size2,352 SF

Lot Size0.17 Acres

Price / SF$148.38

AddedMay 23

Days on Market55

Last RefreshJul 16 at 2:06 am

Property Features for 159 N Walnut Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 4
Bathrooms: 4
Rooms: Bathroom 1, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Basement
Parking features: Carport
Standard status: Active
APN: 027-03-089-04-000
Size: 2,352 SF
Lot size: 0.17 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: 327 E PT 60 X 125
Tax Annual Amount: 393

Utilities

Sewer type: Public Sewer
Heating system: Natural Gas
Cooling system: Central Air
Water source: Public

Building Details

Year built: 1865
Floors in Building: 2
Building materials: Brick
Roof type: Asphalt

Listing agent Dante DiBenedetto License #2026001332

Listing office RE/MAX Real Estate Group 186 Lear Road, Suite A, Cleveland, OH

Listing date May 23, 2026

MLS# 5212745 Listing URL

Investment Insights

Based on property information with market context.

This historic, fully occupied investment property, known as The Hedrick House, is a rare example of Early Gothic Revival style brick architecture. Situated on a prominent raised corner lot in downtown Mansfield, it is listed on the National Register of Historic Places. The 2-story, cross-shaped house has approximately 2,352 square feet of space and is divided into two apartments, front and rear. It features distinctive pointed arch multi-paned original restored windows, plus fine interior woodwork that is intact and restored. The front unit has 3 spacious bedrooms and 2 baths, with a grand curving staircase and semi-circular wall as its central feature. The kitchen/dining room and main bedroom and bath are downstairs. Upstairs, there are two grand bedrooms with 16-ft vaulted ceilings, plus a vaulted living room with skylighted study loft above. A laundry is located off the living room, and a spacious double bowl vanity is between the bedrooms. The lower rear wing contains the two-story loft apartment, featuring an open living/kitchen area with 3 skylights and a half bath. The loft overlooking the living room includes a bedroom, closet, and bath with laundry. The spacious lot has a new concrete driveway with front pull-out, and there is a 2 1/2 car carport enclosed by privacy shrubs. The units each have custom cabinetry, stainless steel appliances, and hardwood floors. The property is centrally located to the Carrousel District, which includes shops, restaurants, and cafes, on a lot of approximately 0.1722 acres.

Key Highlights

Historic 2‑unit property known as The Hedrick House, built in 1865
About 2,000 SF, 2‑story cross‑shaped home divided into a front and rear apartment
Early Gothic Revival brick architecture with original restored pointed arch multi‑paned windows and restored interior woodwork

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$29.6k	$12.60
− Vacancy	−$1.7k	−$0.73
EGI	$27.9k	$11.87
− OpEx	−$8.4k	−$3.56
NOI	$19.5k	$8.31

2,352 SF · lease $12.60/SF/yr · vacancy 5.79% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$279.2K

$244.3K – $325.7K (±1% cap)

NOI $19,544 @ 7.0% cap · market cap 5.60%

Second Best

Apartment 5plus

$249.9K

$218.7K – $291.5K (±1% cap)

NOI $17,492 @ 7.0% cap · market cap 5.01%

Theoretical Best

Office A

$473.2K

$414.1K – $552.1K (±1% cap)

NOI $33,124 @ 7.0% cap · market cap 9.49%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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For sale
Duplexes
OH
Mansfield
44902
159 N Walnut Street

What type of property is this?

Duplex - Fully occupied duplex in downtown Mansfield's Carrousel District.

Where is this duplex located?

The property is located at 159 N Walnut Street Mansfield, OH.

What is the asking price?

The asking price for this property is $349,000.

What are key features of this property?

This property features: Historic 2‑unit property known as The Hedrick House, built in 1865; About 2,000 SF, 2‑story cross‑shaped home divided into a front and rear apartment; Early Gothic Revival brick architecture with original restored pointed arch multi‑paned windows and restored interior woodwork

159 N Walnut Street Mansfield, OH 44902

MULTI_FAMILY - Mansfield, OH

Property Features for 159 N Walnut Street

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Drive-Through Retail Redevelopment Site

Redevelopment Drive-Thru Retail Site

Corner Convenience Store with Drive-Through

Multi-Parcel Office Redevelopment Opportunity

Historic Four-Story Warehouse Building

Restaurant and Bar Zoned Building

Block Restaurant Building with Parking

B-3 Zoned Retail/Office Property

Fruit Farm with Greenhouses

Duplex Property with Renovation Opportunity

Religious Facility with Balcony Sanctuary

Turnkey Creative Office Suite

FAQs